Stock Exchange president: We must bring all stakeholders interested in capital market development to same table

All the parties involved must sit down at the same table to hammer out a new national strategy for developing the capital market, president of the Bucharest Stock Exchange (BVB) Lucian Anghel told a specialist event on Monday. "I remember that we've been through a series of major changes to the capital market legislation generated by the project aimed at removing the eight barriers to the development of a capital market. The capital market law underwent major changes at that time due to the fact that all the stakeholders sat at the same table. I think this is what we should also do now, bring all the stakeholders interested in the development of the capital market to the same table and create a new national strategy. Clarifications, improvements, simplifications will follow," Anghel said. He added that the European capital market faces an excess of regulation, which must be implemented in Romania as well, as opposed to the American capital market which has a more lax legislation. "We've heard from several experts about the excess of European regulation which, unfortunately, we are also required to implement as part of the European Union. Unlike the American capital market, where the legislation is more lax, in Europe we cannot get rid of this excess of regulation. We still have to see that we can do about it. We often have to be active in Brussels to make certain changes to regulations," said the BVB president, who emphasized that in his opinion, the prerequisite for making further progress is a not so long winded regulatory framework. The Organization of Capital Market Professionals (OPPC) organizes Monday at the headquarters of the Bucharest Stock Exchange the conference titled "Specific situations in the activity of listed companies - the relationship with shareholders, insider information and market manipulation". The event started with the opening of the stock exchange trading session, and the launch of the book "The Law on Financial Instrument Issuers and Market Operations. Comment by Articles" authored by lawyer Cristian Dutescu scheduled later on. AGERPRES (RO - author: Daniel Badea, editor: Mariana Nica; EN - author: Simona Klodnischi, editor: Simona Iacob)