CNVM Sees 2011 Revenue Up 45% On The Year, To RON60M

04.08.2011 By Andrei Circhelan

Romanian securities regulator CNVM expects revenue of 59.8 million lei (EUR1=RON4.1146) in 2011, up 45% on the year, on higher turnover on the capital market and estimated increase in the value of investment fund assets.

Romanian securities regulator CNVM expects revenue of 59.8 million lei (EUR1=RON4.1146) in 2011, up 45% on the year, on higher turnover on the capital market and estimated increase in the value of investment fund assets.

Additional revenue should come from the registration of investment fund Fondul Proprietatea (FP.RO) with the commission.

Expenditure should rise at a pace similar to that of revenue this year, to RON59.8 million. Staff spending is seen up 74%, to RON45.8 million, since the institution plans to hire 86 people and organize training programs.

As such, the CNVM expects to break even this year, as it did in 2010.

In 2010, the regulator had anticipated equal revenue and expenditure, at RON41.3 million.