English
The Romanian National Securities Commission (CNVM) has fined two of the managers of "Target Capital" with 1,000 lei each, following an investigation performed in June 2010.
Among other things, the Commission warned the management of the brokerage firm that it was three days late in notifying it had changed its auditor and for making cash withdrawals on behalf of its customers from the company"s current account, in violation of the regulations of the CNVM. The officials of the Commission have also found that the documents pertaining to trades of October 2007 and December 2007, were sent in late to the company"s main office, thus violating legislation in effect.
The capital market watchdog has issued two fines of 1,000 and 500 lei, respectively to two employees of the company"s internal audit department.
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