Romanian Panel Seeks to Scrap SIFs Ownership Limit, ZF Says

A Romanian parliamentary committee recommended that lawmakers in the lower house of Parliament vote to raise the maximum amount a single investor can hold in the country’s five investment companies to 5 percent, Ziarul Financiar reported.

The budget and finance committee of the Chamber of Deputies voted to raise the limit from 1 percent in the funds, known as SIFs, the Bucharest-based newspaper said late yesterday, quoting Liberal Democrat lawmaker Ovidiu Marian, who initiated the draft law. The measure must still be debated and voted on by the Chamber of Deputies.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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