Romanian Securities Comm Suspends SSIF Broker’s Ops For Two Wks

The decisions came into force as of Friday, CNVM said.

CNVM made this decision following SSIF Broker’s decision taken Wednesday to temporarily close its unit in Deva, after an infringement of the capital market law by its staff. Thus, the activity was suspended for 45 days until the investigations are over.

The Deva unit staff is investigated both by the police and by CNVM.

Also, CNVM did not say for how long it suspended SSIF Broker shares from trading on the Bucharest Stock Exchange.

All CNVM decisions can be appealed within a 30-day period.

SSIF Broker has a share capital of 144.7 million lei (EUR1=RON4.2314), divided into 289.4 million shares with a face value of RON0.5 each.

According to the company’s data, Romanian citizen Ioan Cartis owns a 8.21% stake, followed by construction company Intervalco, with a 6.23% stake, and SSIF Broker president, Petru Prunea, with a 3.49% stake in the company.

Thursday, SSIF Broker shares on the Bucharest Stock Exchange closed down 4.76%, at RON0.08 per share, and at a total traded value of RON23.1 million.