Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Broker Cluj will restructure its subunits to optimize costs after hardships following fraud

The brokerage house Broker Cluj (BRK) wants to identify the problems of its subunits and to propose restructuring measures, after evaluating their profitability, declared Anton Ionescu, the company's new president.

The Broker board met last week to discuss the problems encountered by the company after the sanctions placed by the capital market watchdog CNVM. The executive management suggested restructuring.

The management also stated that it started to prepare for taking on global accounts when the Bucharest Stock Exchange enters this market on June 1. The system is currently only used for transactions with Erste Bank (EBS).

Broker Cluj announced yesterday that it would establish an audit commission consisting of two members, Martin Miron and Vasile Pop, that will report to the management on a regular basis.

CNVM placed heavy sanctions on the brokerage house at the middle of the month, as a result of a control carried out by CNVM commissaries, which revealed several irregularities. The company's heads at the time, Petru Prunea and Adrian Ceuca, were banned from the capital market for five and three years respectively, while the company was fined by 724,000 lei, the equivalent of 0.5 percent of its share capital.

The investigation revealed that Broker Cluj did not respect a previous decision of the commission concerning the activity of the company's branches being suspended temporarily. Moreover, Broker Cluj transferred money from its private account to the open account where it kept clients' money, without the transfers showing in the investors' account charts. It also failed to prove that the discounts for its debtor clients were made from the company's funds and not from the clients' funds.

Broker Cluj shares are traded on the first tier of the Bucharest Stock Exchange under the BRK symbol.

 

Sursa: http://www.newsin.ro

Tags: after broker

Articole similare