Last year, market capitalization of the Bucharest stock exchange fell by 30%, with few brokerages managing to post a turnover of over RON600,000.
The pay of the CNVM vice-president is even higher than that earned by Mary Schapiro, who, as chairwoman of the Securities and Exchange Commission (SEC) supervises two stock exchanges where shares worth $120 million are traded daily, NASDAQ and NYSE. Schapiro received annual pay of $158,500 (around EUR100,000) in 2008, according to British daily The Times. By comparison, the market overseen by CNVM, with daily transactions worth $20 million, is practically non-existent.
(English version by Daniela Stoican)