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March 31, 2023

Highest penalties in the recent history for SSIF Broker Cluj

The National Committee of Transferable Securities (CNVM) suspended yesterday for two weeks the activity of SSIF Broker in Cluj-Napoca and prohibited the General Manager Petru Prunea and the Deputy Manager Adrian Ceuca to work on the capital market for the forthcoming five years, and respectively three years, after a control performed by the institution at the brokerage company.

According to Mediafax, the activity of the company is suspended until the two managers are replaced. CNVM fined Prunea RON 25,000 and Ceuca RON 10,000. CNVM also fined the company RON 723,679, representing 0.5 per cent of the registered capital of SSIF Broker. The committee also withdrew the authorizations of the SSIF Broker subsidiaries in Deva and Baia Mare for violating laws regulating the capital market.

The institution attended a control at the brokerage company after a fraud of RON 870,000 was discovered at the SSIF Broker subsidiary in Deva.

By the end of January, CNVM suspended the activity of the brokerage company for two weeks, after the fraud in Deva was discovered.

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