“We must ask for stricter requirements of market participants,” Sobolewski said.
The stock exchange official said he already held talks with representatives of the financial watchdog ASF regarding new regulations for brokerage firms, including higher capital holdings to minimize operating risks.
Sobolewski’s remarks came one day after ASF shut down Romanian brokerage Harinvest for transferring money without client knowledge to cover up previous losses.
Total damages to client portfolios are reported at 5.35 million lei (about EUR1.2 million).
So far, ASF banned several Harinvest brokers for three to five years and issued total fines worth around RON0.62 million.