Press briefing - Sanctions and measures applied by the board of the financial supervisory authority in January 2022

Bucharest, February 21, 2022 - The Council of the Financial Supervisory Authority adopted, in January 2022, several decisions to sanction some entities / persons operating in the non-bank financial market, for violating certain provisions of the incident legislation.

Capital market

1. Company: Electroaparataj S.A. Sancagusta Management S.R.L. - represented by Mr Adrian Ioan Rus - as Chairman of the Board of Directors of Electroaparataj S.A. for violating the legal reporting obligations regarding the contracts with the affiliated parties.
2. Company: Societatea de Constructii Napoca S.A. Cluj - Napoca. The sanctioning with a fine in the amount of 369,700 lei of Mrs. Liliana Marchiș, as a majority shareholder of the IT company Transilvania Invest S.A., for non-compliance with the provisions of art. 39 para. (1) of Law no. 24/2017 republished.
3. Company: Electroarges S.A. The suspension, during the OGMS and EGMS Electroargeș S.A. The Court of Argeș convened for the date of 31.01.2022 / 01.02.2022, of the exercise of the voting rights related to a number of 16,000,000 ELGS shares, registered at the Central Depository on behalf of the company Investments Constantin S.R.L., which were the subject of file no. 238/1259/2020, in which the Pitești Court of Appeal pronounced the Civil Decision no. 448 / A-C; Obligation of the Board of Directors of Electroargeș S.A. The Court of Argeș to take the necessary measures to carry out the suspension of the exercise of voting rights; Obligation of Central Depository S.A. to order the necessary measures to register in its records the suspension of the exercise within the OGMS and EGMS Electroargeș S.A. Court of Argeș convened for the date of 31.01.2022 / 01.02.2022 of the voting rights.

Insurance  market

4. Sanctioning the brokerage company Best AS Broker de Asigurare - Reasigurare SRL, with a temporary ban on the exercise of the distribution activity, until the date of proposing a new person to fill the vacancy of executive manager and sending the complete documentation for its approval by ASF, according to the provisions of art. 2 para. (1) lit. b) and art. 3 lit. d) of the O.U.G. no. 93/2012, with subsequent amendments and completions, corroborated with the provisions of art. 4 para. (2) and para. (3) of Law no. 236/2018, with subsequent completions.

Private pension market

5. By Decision no. 9 / 07.01.2022, Mrs. Andreea Marina Pipernea, as General Manager of NN Pensii Societate de Administrare of a Privately Administered Pension Fund S.A. was sanctioned with a written warning for situations of non-compliance with the legal provisions regarding some operational processes.