”The final purpose of applying new measures is to reclassify the Romanian capital market. It is an objective which, once achieved, will bring increased visibility to Romania in Europe and worldwide and will create the premises of attracting new categories of participants (such as intermediaries, investment funds, issuers, institutional investors and even retail),’ the government said in a statement sent to MEDIAFAX.
The bill transposes into national legislation the European Directives obliging issuers of securities admitted to trading on a regulated market, which are headquartered or carry out their activity in a EU member state, to provide more information to investors.
According to the statement, another measure aims to boost the integrity of European financial markets by establishing penalties for the most severe abuses on the market committed deliberately.
Also, companies committing abuses on the market are liable for periodic penalty payment or other types of fines. Sanctions may even consist of a temporary or permanent ban on carrying out commercial activities.