UPDATE: Parliament Passes Law Raising SIF Ownership Ceiling

Romanian lawmakers on Thursday approved a decision to increase the maximum ownership limit in the five regional investment funds, or SIFs, from 1% to 5%.

The Chamber of Deputies, the decision maker chamber, passed the law with 170 pros, 63 cons and 11 abstentions.

The act will now be sent to President Traian Basescu for promulgation.