Parliament names new president for Romanian National Securities Commission

The Romanian National Securities Commission (CNVM) will be headed by Carmen Negoita, the former VP, with the support of ruling Democrat Liberal Party (PDL), replacing Gabriela Anghelache, who has been running the stock market supervisory body for the last 11 years. Negoita is a law graduate and has worked with the Commission since 2005, as VP for the last five years. The Romanian parliament recently validated the new president of CNVM, well ahead of when the current mandate would have expired (October this year). The Parliament also validated some Commissioners with CNVM, those who supervise the two stock exchanges in Romania and make sure investors are protected. Dorina Mihăilescu, supported by opposition Social democrat party (PSD), won a new term as commissioner for the next five years, while MP Gheorghe Albu, supported by PDL, received a commissioner's seat. CNMV's commissioners also include Alexe Gavrilă, who got a five-year term as VP last year and Lorand Kralik, with a five-year mandate from 2010. Gheorghe Marcu is the future VP, supported by the PSD, while Stefania Ferencz, former head of cabinet for former PM Emil Boc, is also a commissioner. Apart from Dorina Mihaiescu, an economic studies graduate, who has been working with CNVM since 2005, and the former commissioners, the new commissioners have little experience on the local stock market, according to Romanian media commentators. Romania's stock market has shares from companies worth over EUR 20 billion and money from over 90,000 investors. CNVM commissioners get monthly payments between EUR 5,000 and EUR 10,000, some of the highest salaries on the Romanian stock market. editor@romania-insider.com