* The Ministry shrugs its shoulders

* MAKE: "The intention of the CNVM makes no sense"

The Romanian National Securities Commission has abided by its decision concerning the restructuring of the Rasdaq market, a problem which, as Carmen Negoiţă, the president of the Commission, said at the end of 2012, could no longer be left undealt with.

The solution found by the CNVM and announced yesterday was to resort to the Ministry of Public Finances, to initiate a legislative project for the restructuring of the Rasdaq, a market which has been treated like a regulated market, even though the segment does not fall under this category, according to the European regulations.

In other words, the CNVM has decided that... it should be the Ministry of Finances and the Parliament that should decide.

Thus, the CNVM has "kept" its promise.

The topic of the disbandment of the "Rasdaq" has sparked off heated reactions on the capital market. On one hand, the Association of Stock market Investors has claimed that the Rasdaq is and should be reconfirmed as a regulated market, on the other hand, the Bucharest Stock Exchange has proposed its transformation into an alternative trading system.

With things heating up, the Commission wanted to avoid getting burned at any cost and chose the option which was the best for itself, especially since it is being threatened with the disbandment, with its functions to be taken over by the Unified Financial Oversight Authority.

The arguments will now move into the offices of the Ministry of Finances, if it accepts (or better said, if it falls for) the idea of the Commission.

Sources close to the situation claim that the Ministry of Public Finance is inclined to taken on "the problem".

At the Ministry of Finance, people just shrug.

"I have no knowledge at the moment about this subject", sa