OREANDA-NEWS. July 24, 2012. As announced at press conference a member of the National Commission on Financial Market Aurica Doina, now the text of the law is being edited. The law will come into force 18 months after publication. During this time the NCFM should develop and adopt more than 40 regulations that will regulate the market.

In this case, Aurica Doina assured that every document when it is ready to be discussed with the professional market. Speaking of the minimum capital requirements for holding a license of a market participant new law establishes Aurica Doina said that all of today professional market participants meet the minimum requirements and will meet them all in the first 3 years after the enactment of the law, as stipulated by the capital increase for 10 years.

Answering the question of agency InfoMarket about why the law provides the amount of capital in euro, whereas in the case of sharp exchange rate shocks in the capital market professional participants lei equivalent may be insufficient, the commission member Yuri Philip admitted that this point requires a separate revision in the regulatory framework.

The press conference also highlighted the role of a central depository, which, as a private company, is designed to store all the database of all joint stock companies of the country. Jury in this regard, Philip said that perhaps the market will find a new technology that will simultaneously introduce the central depository, and to preserve the institution of independent registrars.