Compliance Assessment Regarding Corporate Governance Requirements Applied for Romanian Investment Firms

We based our research on the assumption that an efficient implementation of corporate governance requirements allows prudent supervision of Romanian investment firms by the Financial Supervision Authority. Moreover, some significant weaknesses in corporate governance has facilitated the emergence of extremely delicate circumstances in which some Romanian investment firms lost their brokerage licenses as a result of fraudulent operations that favoured misappropriation of client assets. Improving the effectiveness of governance structures would help to prevent the occurrence of similar future events, restoring investor confidence in the Romanian capital market mechanisms and institutions. The main focus of our research is to assess the compliance level with relevant corporate governance requirements applied to Romanian investment firms.