ASF to cut by 25 pc share applied to financial instrument transactions


The Financial Supervisory Authority (ASF) will cut by 25 percent, starting September 16, the quota applied to the value of financial instrument transactions supported by the buyer, a release remitted yesterday informs. This quota charged by ASF will be reduced from 0.08 percent to 0.06 percent, the measure being provided in the Regulation for the amendment of the annex to Regulation No 7/2006 on the revenues of the National Securities Commission (CNVM), released by ASF on Friday in the Official Gazette, which will come into force on September 16, 2014. The Regulation also provides keeping the 0.04 per cent level of the quota of the value of transactions carried out on the regulated markets and/or within the alternative trading systems, by intermediaries qualified as Market Maker, and the exemption of the entities authorised, regulated and supervised by ASF, from payment related to the issue of a note as official answer to matters concerning law and regulation enforcement, currently standing at RON 10,000.
‘ASF took the first measures for diminishing the barriers on the capital market. These include legislation changes and a significant reduction in the trading commissions. This shows an irreversible decision for making the market not only more competitive, but very competitive and we hope that other involved parties will act as such. This will be a gradual, but permanent process, aimed at facilitating the access on the Romanian Stock Market, so that investors should not think twice before investing their money here,’ ASF Chairman Misu Negritoiu said.