The National Securities Commission (CNVM), the regulating and supervisory authority of the capital market, was left without one of its vice-presidents this summer after the candidate proposed by PNL (National Liberal Party) - Alexe Gavrilă, failed to receive the vote of Parliament. Now, PD-L senators want their own party to propose the vice-president.
Because they are endorsed by Parliament, all seven members of the CNVM management team are proposed and backed by a political party, while competences of the person set to be involved in supervising the capital market are secondary.
Since PD-L is the party that holds majority in Parliament, Ovidiu Marian, president of the Senate's Budget and Finance Committee, is considering nominating another person than that chosen by PNL.
"With one member - Carmen Negoiţă, PD-L is weakly represented in the CNVM management team. Considering that PD-L holds majority in Parliament, we are considering other names than those proposed by PNL, we might even propose a representative," says Senator Ovidiu Marian.
In order to validate CNVM decisions, at least five members need to attend deliberations.
The stake is high - a place in the CNVM management, considering that pay can exceed 4,000 euros a month, and that commissioners are directly involved in supervising investors, stock exchanges, and companies operating on the capital market.
The National Securities Commission (CNVM), the regulating and supervisory authority of the capital market, was left without one of its vice-presidents this summer after the candidate proposed by PNL (National Liberal Party) - Alexe Gavrilă, failed to receive the vote of Parliament. Now, PD-L senators want their own party to propose the vice-president.
Because they are endorsed by Parliament, all seven members of the CNVM management team are proposed and backed by a politi
