Romania's Finance Ministry wants harsher penalties for capital market abuse

Romania’s Finance Ministry wants to increase the transparency on the local stock market and has initiated a law package aimed at helping the Bucharest Stock Exchange get promoted to emerging market, the ministry announced on Friday. At the same time, the ministry wants to increase the market’s integrity and will set criminal sanctions for deliberated market abuse. “The individuals who abusively use privileged information and manipulate the market, the maximum punishment will be at least four years of jail time,” the Finance Ministry announced. The companies found guilty of market abuse will get criminal fines, but may also have their activity suspended or shut down completely. editor@romania-insider.com