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Newsletter CFA Romania July 2014
CFA Romania Newsletter Inbox (2)
Dear members, It's time to renew your CFA Institute and CFA
Society memberships.
For those of you that want to invest in the future, there is
still time. We count on your support and involvement!
Good news!!!
CFA Institute decided that 2015 EMEA Regional Meeting will take
place in Bucharest. For the first time, a CEE county will host such
an outstanding event, which will bring together representatives of
40 CFA local societies of EMEA and top representatives of CFA
Institute from UK, US and Asia. This is an important recognition of
our commitment and involvement in supporting CFA Institute.
Thanks to all off you that contributed to this!
News and Events
CFA Awards (ASE Aula Magna, June 17, 2014)
Members involved: Nicolaie Chidesciuc, Sorin Dumitrescu, Dragos
Minjina, Adrian Mitroi, Bogdan Bilaus, Mihail Ion, Adrian
Codirlasu,
Guests: Prof.Univ.Dr. Ion Stancu, Dr. Lucian Croitoru Ph.D,
Ionut Dumitru Ph.D, Dan Bucsa Ph.D
Winners: Media Moise Guran (TVR), Claudia Medrega (ZF), Ovidiu
Tempea (Mediafax), Cristian Grosu (CursDeGuvernare.ro);
Finance: Prof. Univ. Dr. Ciprian NECULA, Prof. Univ. Dr. Gabriel
DRIMUS, Prof. Univ. Walter FARKAS, for the paper A General Closed
Form Option Pricing Formula
Macroeconomics : Dr. Mihai COPACIU, for the paper Estimation of
an open economy DSGE model with financial and employment frictions
for Romania
CFA EMEA Regional Conference (Athens) Participants: Mihai Ion,
Dorin Badea, Bogdan Bilaus, Florentina Almajanu Details: The
Conference was centered on CFA Institute strategy. Dorin ran for
the President Council Representative EMEA East (Congratulations
for the good performance! even if Dorin was not elected).
Florentinas proposal to organize a summer school for regulatory and
supervisory
authorities was approved and is going to be implemented by CFAI.
Congratulation, Florentina!
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Newsletter CFA Romania July 2014
Putting Investors First (May 22)
Members involved: Mihail Ion, Mugur Popescu, Dorin Badea, Razvan
Szilagyi, Romulus Mircea
Description: The event is the beginning of a common, long-term
approach to developing a credible and sustainable financial market,
in the ultimate benefit of the investors. Representatives of the
regulators and of the major player within the financial markets
shared views on how the market can become more transparent and how
to increase investors trust.
Guests: Daniel Daianu (ASF), Steven van Groningen (Raiffeisen
Bank), Josina Kamerling (CFA Institute), Lucian Anghel (BVB),
Ludwik Sobolewski (BVB), Dragos Neacsu (AAFR), Marius Popescu
(APAPR), Adrian Marin (UNSAR), Cristian Dutescu (OPPC), Luminita
Runcan (ACI Romania)
Partner: Bucharest Stock Exchange
CFA Institute Research Challenge Members involved: We had over
30 volunteers that contributed to the project.
Many thanks to each of them and to Mugur Popescu, sponsor and
project manager.
Description: Research Challenge is a competition that rewards
the best research papers done by some of the most prestigious
regional universities. Six universities were involved, including
one from Republic of Moldova.
Winners: All papers were very good but the winner was
Universitatea Alexandru Ioan Cuza from Iasi.
DAFI Master Program (ASE) was included in the CFA University
Recognition Program Members involved: Adrian Mitroi -
Congratulations!!! Benefits: DAFI is the first Romanian Graduate
Masters Program welcomed into
the CFA Institute University Recognition Program. This signals
to potential students, employers, and the marketplace that DAFI
curriculum is closely tied to professional practice and is
well-suited to preparing students to sit for the CFA
examinations.
CFA Pub (March 7th, June 4th) Members involved: Cristian Popa
Details: Members exchanged ideas and discussed about CFA Romania
projects
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Newsletter CFA Romania July 2014
Meeting with World Bank on Romanias Securities Markets
Participants: Razvan Szilagyi, Florentina Almajanu Topics:
Development of local equity and corporate bond markets, regulatory
and
supervisory framework.
Adrian Mitroi was appointed as CFA Romania representative in the
Bucharest Stock Exchange Index Committee. Many thanks to Dragos
Cabat who represented CFA Romania until now.
Public presence
Risk Management Forum (March 12) Adapting the risk management
process to the new market ralities (Mihai ion) Risk management in
credit financial institutions (Mugur Popescu) New (required)
infrastructure for derivatives trading (Adrian Codirlasu)
Romanian Financial Forum - Saving-investing behavior of
individuals (Mihai Ion)
Retail Investors Forum ( May, June) - (Adrian Codirlasu)
Money Management in Training FX market transactions (Adrian
Codirlasu)
The International Insurance Reinsurance Forum 2014 (Florentina
Almajanu, Adrian Codirlasu)
CFA Romania Macroeconomic Confidence (monthly) (Adrian
Codirlasu)
Board activity
Summary of the Board Meeting held on May 22nd
Analysis of Putting Investors First event;
CFA Romania advocacy on IPOs in general and Electrica IPO on
particular;
Analysis of the current taxation of capital gain for private
individuals;
Organization of CFA Research Challenge event;
Organization of EMEA Conference 2015 in Bucharest.
Advocacy
CFA Institute is actively involved in shaping public policy that
strengthens investor confidence and market integrity. Please do
contact us for any idea or suggestion that might contribute to the
above. Contact: Bogdan Bilaus - [email protected]
Topics addressed by the members: - Specific cases when the
regulations were not followed and no sanctions were applied; -
Specific cases when the sanctions provided by the regulations are
insignificant versus the
benefits of not applying the regulations; Actions of CFA
Romania:
- Written statement sent to the Romanian Ministry of Economy
(Energy Department) on the treatment of individual investors in the
IPOs;
- Press release on CFA Romania supporting the 10 proposals of
BSE to enhance the participation of private individuals to the
capital market (InvestingRomania program). Future involvement of
CFA Romania in the program development is envisaged.
