Sanctioning decisions adopted by the ASF Council in April 2025

Bucharest, 15 May 2025 - In April 2025, the Financial Supervisory Authority Council adopted several sanctioning decisions, as well as a series of measures applicable to entities/persons operating in the non-banking financial market for breaching certain provisions of the relevant legislation.

INSURANCE MARKET

Grawe România Asigurare S.A. was fined RON 54,500 for breaching:

• 21 para. (1) letter (b) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as subsequently amended and supplemented;
• 21 para. (2) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as subsequently amended and supplemented;
• 21 para. (4) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as subsequently amended and supplemented;
• 21 para. (5) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as subsequently amended and supplemented.

Mr. Florin Gelu Pancu, former executive director of the brokerage company Global Risk Services – Insurance Broker S.R.L., was fined RON 9,300 for failing to comply with the provisions of art. 26 para. (3) of ASF Regulation No. 22/2021 on insurance distribution, in relation to the provisions of art. 26 para. (5) of the same regulation.

CAPITAL MARKET

Electroargeș S.A.

Suspension, for the duration of the Ordinary General Meeting of Shareholders and the Extraordinary General Meeting of Shareholders of Electroargeș S.A. București, convened for 25/26 April 2025, of the exercise of voting rights attached to 16,000,000 ELGS shares, registered with the Central Depository in the account of Investments Constantin S.R.L., which were the subject of file no. 238/1259/2020, in which the Pitești Court of Appeal issued Civil Decision no. 448/A-C.

Amundi Asset Management S.A.I. S.A.

Establishment of a plan of measures for Amundi Asset Management S.A.I. S.A. regarding the setting of an action plan for establishing value limits for the performance of S.A.I.'s own portfolio-related operations, the updating of investor data and the updating of an internal procedure.