Quote from: NanoAkron on March 19, 2014, 01:37:01 PM

Can you point us to the appropriate Romanian law which declares these securities illegal?

Yes, page 11 of this Romanian National Securities Commission (CNVM) document:
http://www.cnvmr.ro/pdf/regulamente/en/Regulation-01-2006.pdf

'TITLE II - OPERATIONS WITH SECURITIES
CHAPTER I COMMON PROVISIONS ON THE PUBLIC OFFER
Law no.297/2004

Art. 3. No prospectus/document of public offer shall be made available to the public until it
has been approved by CNVM.'

and also see on page 12:

'Art. 5. (1) Following the CNVM approval, the prospectus/offer document shall be
communicated to the operator of the regulated market/alternative trading system where those
securities are traded or shall be admitted to trading at the date of the public offer
announcement publication, both on paper and electronically.'

So any online Securities market 'alternative trading system' is clearly covered and must seek approval. Unless MPEx has gained CNVM approval it is as an alternative market illegal under Romanian law as are the Securities it offers for sale.
And for clarity anyone interested should also refer to this document:

http://www.cnvmr.ro/pdf/regulamente/en/Regulation-02-2006.pdf

REGULATION NO. 2/2006

ON REGULATED MARKETS AND ALTERNATIVE TRADING SYSTEMS

page 34

Section 1 Approval of alternative trading systems setting up

Art. 61
(1) It is forbidden for the intermediaries and the market operators to manage an alternative trading
system before requesting and obtaining C.N.V.M.`s approval for setting up the relevant alternative
trading system.