FinMin preparing a law to “regulate” the RASDAQ market

Thus, some of the companies on the RASDAQ electronic market, those complying with the selection criteria, would enter the regulated market, administered by the Bucharest Stock Exchange (BVB), while the remainder would continue on the alternate trading system.

Firstly, the document should clarify things regarding the approval that issuers must provide for entering the regulated market. “Following talks with officials of the Ministry of Finance, we have been informed that the launch of such a document will be prepared. We do not yet know whether it is an emergency ordinance or even a law,” Bogdan Chetreanu, Commissioner with the Romanian National Securities Commission (CNVM), told Business Standard.

“Companies meeting the criteria included in European directives will enter the regulated market, and the others will remain on the alternate system. The requirements are those referring to a level of capitalization higher than €1 million, to a free-float of 25 percent, but, more importantly, the approval of the listed issuer, included by both the European directives and the Romanian legislation,” Chetreanu added.