12.1 C
April 19, 2021

Financial supervision official: Over 300 scam brokers purged from market and probed

More than 300 scam brokers were purged from the market and are currently under investigation, which is a sign that the domestic capital market is returning to health, vice president of the Financial Supervisory Authority (ASF) Mircea Ursache said on Friday.

“The public alert is that the capital market which was being invaded by these scam brokers has reached the moment of truth. The state institutions have done their job and over 300 scam brokers have been purged from the market and are being investigated. It is a sign of return to health. All the state institutions joined our efforts and at this event now I convey a signal of confidence for all the attendees, that they should trust the regulated market that is authorized by the Financial Supervisory Authority. This is the healthy market one needs to invest in. This is the market that allows gains. There are signs that our capital market makes a return to health,” said Mircea Ursache at the second edition of the “Banii Tai Expo” financial event.

Ursache explained that the ASF had received for two years signals about operations run by so-called brokers, which left the investors completely drained of money; he added that the loss is fully for the investor to bear and cannot be compensated.

Ursache also stressed that all the foreign companies working in Romania are licensed and that there is no problem if they are incorporated in an EU country.

Related posts

Farmec expands the “Ai grijă de natură așa cum ai grijă de tine” campaign nationwide


Agriculture Ministry sets up working group to define priorities of EU’s Common Agricultural Policy after 2020

Nine O' Clock

Vice PM Borc: Work visas for non-EU citizens take at least nine months

Nine O' Clock