The new law on the capital market has removed a series of provisions which kept Romania far behind the emerging economies in Eastern Europe, said Ludwik Sobolewski, general director of the Bucharest Stock Exchange.

The new legal framework simplifies the way investors and shareholders express their votes. It also introduces a safer and faster way of distributing the dividends for the companies listed on the stock exchange, according to Sobolewski, reports local Agerpres.

However, the new regulations on taxing dividends and the gains from trading on the stock market are worrying and should be corrected as soon as possible, said the general director of the Bucharest Stock Exchange.

The capital market needs to be seen as an engine for growth. It should be proactively regulated, not only protected, said Sobolewski.

Last week, the Chamber of Deputies approved the bill which changed the former law on the capital market.

editor@romania-insider.com