The MPs of the Party of Action and Solidarity suggest that the number of members of the Administration Board of the National Commission for Financial Markets (NCFM) should be decreased from five to three. According to them, this would make the institution more efficient and would generate savings of about 5 million lei, IPN reports.

MP Dumitru Alaiba told a news conference that de-bureaucratization and simplification of the structure of the NCFM is stipulated in a bill that was introduced into Parliament. “As you know, the board consists of five members. We propose reducing the administrative staff to three members. This will lead to greater efficiency in the decision-making process, to a simplified structure and also to savings. These two additional posts cost the institution about 5 million lei together with such indirect costs as the remuneration of the driver and others,” he stated.

The MP noted that after Parliament last September dismissed the five managers of the NCFM, the institution was nonfunctional and about 120 issues on which decisions were to be taken accumulated. The subjects were dealt with by three persons during only a month, after new members were named. “These are the reasons for which we considered it is not justified to have five managers at the NCFM. It is enough to have three directors – a director general and two directors – so as to ensure the efficiency of the institution,” said Dumitru Alaiba.

Last September, all the members of the Administration Board of the NCFM were dismissed by Parliament after the annual progress report for 2020 showed that the institution was unable to improve the situation on the nonbank financial market and fulfilled its duties insufficiently and inappropriately.