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    Press briefing: Decisions imposing sanctions adopted by the A.S.F.'s Council in September 2022

Press briefing: Decisions imposing sanctions adopted by the A.S.F.'s Council in September 2022

Bucharest, October 11th, 2022 – In September 2022, the Council of the Financial Supervisory Authority adopted several decisions imposing sanctions on entities/persons operating in the non-banking financial market for violation of some provisions of the relevant legislation.

 

CAPITAL MARKET

URC S.A. - Mr. Nicolae Iulian Lupuț, in his capacity as Chairman of the Board of Directors of the Company URC S.A., was fined by 10,800 lei for failure to comply with the obligation to properly inform investors about the company’s financial statements relating to the financial year 2020.

Commixt S.A. – Mrs. Florentina Adriana TUDOR, in her capacity as Chairman of the Board of Directors of the Company Commixt S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

Comcereal S.A. București – Mrs. Florica Nucuță, in capacity as Chairman of the Board of Directors of the Company Comcereal S.A. Bucharest, was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

FIRM RECOM S.A. – Mr. Radu Nicolae DOBRE-SIMA, in capacity as Chairman of the Board of Directors of the Company Firm Recom S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

Industria Sârmei S.A. – Mr. Alexei Șeromov, in capacity as special administrator of the Company Industria Sârmei S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

ABO MIX S.A. – Mr. Adel SIMON, in capacity as Chairman of the Board of Directors of the Company ABO MIX S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

Sigstrat S.A. – Mrs. Elisabeta KERTESZ, in capacity as Chairman of the Board of Directors of the Company Sigstrat S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

Selca S.A.Mrs. Adriana Luminița Zamfir, in capacity as Chairman of the Board of Directors of the Company Sticloval S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

Romaero S.A. – The Company Romaero S.A., was imposed a warning for failure to comply with the obligation to properly inform investors about the company's financial statements for the financial year 2020.

 

BT Asset Management S.A.I. S.A. – Formal caution of the persons in the S.A.I. management, i.e., Misters Aurel BERNAT– Chief Executive Officer, Călin-Paul CONDOR– Deputy Executive Officer and Sergiu Dan DASCĂL– Deputy Executive Officer for failure to comply with the investment limits between April – August 2022.

SSIF Swiss Capital S.A. – Formal caution of the persons in the SSIF’s management, i.e., Misters Bogdan JURAVLE – Chief Executive Office and Olimpiu Blăjuț – Deputy Executive Officer for failure to timely submit the annual report relating to the year 2021 and warning imposed on the members of the Auditing Committee, i.e., Misters Nicolae Moroianu and Mircea Solovăstru for failure to timely send the annual report prepared by the Auditing Committee for the year 2021.

Prebet S.A. Aiud – Mr. Ioan – Csaba Kerekeș, in his capacity as Investor in Prebet S.A. Aiud, was fined by 11,900 lei for violation of provisions of Article 57 par. (6) of A.S.F. Regulation no. 5/2018.

SSIF Goldring S.A.  – SSIF Goldring S.A. was fined by a fine of 17,600 lei, for violation of the provisions of Article 57 par. (6) of A.S.F. Regulation no. 5/2018.

SSIF Goldring S.A. – Mrs. Mihaela-Veronica MAN – person in charge of the compliance function within SSIF Goldring S.A., was imposed a warning for violation of provisions of Article 27 sub-par. d) of A.S.F. Regulation no. 5/2019.

Turism, Hoteluri, Restaurante Marea Neagră S.A. – Mr. Bogdan Nicolae ROȘU, in his capacity as Deputy Executive Officer of the Company titled Turism, Hoteluri, Restaurante Marea Neagră S.A., was fined by 2,200 lei for violating the prohibition to trade during the closed period provided for in Article 19(11) of the Market Abuse Regulation (EU) No 596/2014.

 

INSURANCE MARKET

Uniqa Asigurări S.A. – this company was fined by 45,600 lei for failure to submit the control team documents, as per Emergency Government Ordinance no. 93/2013.

Uniqa Asigurări S.A. – this company was fined by 31,900 lei for inadequate constitution of the technical reserve according to the national regime.

Euroins Romania Asigurare Reasigurare S.A. – this company was fined by 333,373 lei for failure to submit the control team documents, as per Emergency Government Ordinance no. 93/2013.

Euroins Romania Asigurare Reasigurare S.A. – this company was fined by 1,023,200 lei for inadequate constitution of the technical reserve according to the national regime, failure to comply with the prudent person principle for investments and failure to comply with the executive/management governance requirement.

Romeuro Insurance Consulting-Broker de Asigurare S.R.L. – this company was given a written warning for having done amendments to the Articles of Incorporation of the brokerage company without consent from A.S.F. (change of registered office).

 

PRIVATE PENSIONS MARKET

Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A.

  • Fine by a fine of 1,400 lei imposed on Mr Mioara Mărușter, in her capacity as a Deputy Executive Officer;
  • Sanction with a written warning of Mrs. Marcela Adriana GROSU, in her capacity as the person to have headed the internal audit structure of Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A.

The main weaknesses found concerning governance issues, the work of a key function, the procedural framework and operational work. At the same time, a plan of action was imposed on the company to remedy some deficiencies/mitigate some risks.