* The capital market watchdog accuses the Exchange of not carrying out its duty of monitoring trades
* Businessman Cătălin Chelu is reported as having sold around 3% of the shares of "Spit" during the period reviewed by the CNVM
Anca Dumitru, the general manager of the Bucharest Stock Exchange, was sanctioned by the Romanian Securities Commission (CNVM), at the end of May, because the Bucharest Stock Exchange refused to present the Commission with a study of the trades involving shares of "Spit" Bucovina (SPTU) which took place between June 21st-August 13, 2007.
Last week, the CNVM rejected the contestation submitted by Anca Dumitru, and it considered that the general manager of the Exchange deserved the warning it received.
Whereas Anca Dumitru refused to discuss the decision of the Romanian National Securities Commission, saying that she had no comment to make on the situation for now. Stere Farmache, the chairman of the BSE considers that the sanction will have no repercussions on the image of the BSE, which recently self-listed.
"In 2007, Mrs. Anca Dumitru handled the Rasdaq market, she wasn"t yet the general manager of the BSE. I do not think that the sanction affects the image of the Bucharest Stock Exchange. Our policy is that we do not comment on the decisions of the CNVM", Stere Farmache said for BURSA.
* CNVM: The Stock Exchange was required to answer any questions concerning possible violations o the rules of the regulated market
The address exchange between the officials of the BSE and those of the Commission reveal the fact that the BSE refused to review the information it had available on the trades with SPTU stock and to clarify whether it had uncovered any irregularities in those trades.
"As market operator, the Bucharest Stock Exchange, had the obligation, which it did not fulfill, to answer to the requ
