MEASURING COMPLIANCE WITH TRANSPARENCY DISCLOSURE REQUIREMENTS APPLICABLE FOR ROMANIAN INVESTMENT FIRMS

Ioan Ovidiu Spatacean
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Ioan Ovidiu Spatacean: ¨PETRU MAIOR¨ University from Tirgu Mures, Romania

STUDIA UNIVERSITATIS PETRU MAIOR SERIES OECONOMICA, 2016, vol. 1, 17-38

Abstract: Ensuring an adequate level of transparency by investment firms in Romania in relation to current and potential customers is an overriding requirement in line with applicable European regulations. Moreover, transparency and adequate disclosure of information is fundamental to assessing the potential investor the decision to initiate contractual relations with an investment firm authorized to provide investment services and activities on the Romanian capital market. In essence, matters covered by an appropriate degree of transparency relates to the provision by investment firms of information relevant to: position and financial performance, market share, its Operating Licence sanctions preceding the supervisory authority and regulation ( ASF), identity and reports issued by the auditor. The primary purpose of this paper is to assess compliance mode investment firms to the relevant provisions on transparency. Relevant research methodology consisted of assessing transparency received reports published on the official websites of investment companies selected in the sample. The research results support an adequate degree of transparency of investment firms in Romania in relation to investors.

Keywords: investment firm; report of transparency; disclosure; investor protection. (search for similar items in EconPapers)
JEL-codes: G22 (search for similar items in EconPapers)
Date: 2016
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