* Ovidiu Marian: The deputies will vote on the project on November 22nd
* The volatility has not yet attracted the attention of the CNVM
The holding limit in the SIFs may be raised from 1% to 5% next week, in a parliamentary session, after the draft law was validated by the Budget and Finance Commission of the Chamber of Deputies, last week.
The news, which was announced by Ovidiu Marian, the senator which made the legislative proposal caused a commotion in the markets yesterday. The shares of the five financial investment companies rose almost 10% around noon. The BET-FI index closed up with a gain of 6.06%, to 19,961.48 points, whereas the BET and BET-C indexes posted minor losses.
"On November 22nd, the project concerning the holding limit in the SIFs will be discussed in the Chamber of Deputies", senator Ovidiu Marian said.
Even though the information was revealed during the trading session, and over the years the discussions on the holding limit have affected the price of the shares, the trades involving the shares of the five SIFs did not attract the attention of the Romanian National Securities Commission (CNVM).
Bogdan Chetreanu, CNVM commissioner, said that the Romanian National Securities Commission has not yet reviewed this situation (ed. note: the trading in shares of the SIFs). He said that the vote concerning the draft law scheduled to be held on November 22nd is public information.
Still, the website of the Chamber of Deputies has not yet published the agenda of the day of November 22nd, and the officials of the Chamber said that the schedule of the meetings will only be made public on Thursday.
In 2009, PDL senator Ovidiu Marian proposed the elimination of the holding limit in the SIFs, but the Senate decided to raise it to 5%.
He is however optimistic on the project's passing in the plenum, next
