CNVM notified prosecutors of the situation and applied fined of 201,000 lei (EUR44,353).
Cristian Sima, former head of monetary and commodities exchange Sibex, served as general manager of WBS Romania and Managing Board chairman between June 2003 and April 2011.
CNVM also decided Sima, Anca Bunea, general manager of the firm, and Dan Vatamanu, representative of the control department, may not operate on the capital market for five years.
CNVM started checkups at WBS Romania on October 11, after Sima fled Romania. The latter announced on October 12 he was in Reykjavik (Iceland) and explained that he fled the country after he had lost the money he was managing through brokerage firm WBS Holding.
On the Bucharest bourse, WBS Romania brokered deals of RON13.1 million in the first ten months of the year. (EUR1=RON4.5318)