Sanctioning decisions adopted by the ASF Council in July 2025

Bucharest, 14 August 2025 - In July 2025, the Council of the Financial Supervisory Authority adopted several sanctioning decisions, as well as a series of measures applicable to entities/persons operating in the non-banking financial market for violating certain provisions of the applicable legislation.

INSURANCE MARKET

5MM Broker de Asigurare S.R.L. was sanctioned with a written warning for non-compliance with the provisions of Art. 22 para. (2) of ASF Regulation No. 22/2021 on insurance distribution.

Inter Broker de Asigurare S.R.L. was sanctioned with a written warning for the following:

failure to comply with the provisions of Art. 14 para. (1) letter (a) of Law No. 236/2018 in conjunction with Article 40 para. (4) of ASF Rule No. 22/2021;

failure to comply with the provisions of Art. 13 para. (1) letters (a), (b), (d), and (e) of Law No. 236/2018;

failure to comply with the provisions of Art. 14 para. (1) letter (b) and para. (6) of Law No. 236/2018, in conjunction with the provisions of Art. 38 para. (2) and para. (3) letter (a) of ASF Rule No. 22/2021.

CAPITAL MARKET

Infinity Capital Investments S.A.

Following the periodic inspection at Infinity Capital Investments S.A., the following measures were ordered:

The company was fined RON 17,800 and a plan of measures was established;

A fine of RON 10,000 was imposed on Mr. Sorin Iulian Cioacă, in his capacity as Chairman of the Board of Directors, General Manager, and person directly responsible for the prevention of money laundering/terrorist financing;

Sanctioning Mr. Mihai Trifu with a warning, in his capacity as Vice-Chairman of the Board of Directors and Deputy General Manager;

Imposing a fine of RON 10,000 on Mrs. Viorica Bălan, in her capacity as Compliance Officer for the prevention of money laundering/terrorist financing;

Sanctioning Mrs. Valentina Vlăduțoaia with a warning, in her capacity as Chief Financial Officer.

The main issues identified during the audit concerned operational aspects relating to the content of the explanatory notes to the annual financial statements and operational aspects relating to the inadequate application of customer due diligence measures.

Depozitarul Central S.A.

Following a periodic inspection at Depozitarul Central S.A., the company was issued a warning. The main issues identified during the inspection concerned organizational aspects related to delays in appointing persons with responsibilities in the area of ML/TF and the administration of international sanctions.

Lion Capital S.A.

Following the periodic inspection at Lion Capital S.A., the following measures were taken:

The company was fined RON 16,200 and required to implement a plan of measures;

Mr. Bogdan-Alexandru Drăgoi (in his capacity as Chairman of the Board of Directors and General Manager) was issued a warning;

Mr. Radu Răzvan Străuț, Mr. Sorin Marica, Mr. Ionel Marian Ciucioi, and Mr. Marcel Pfister (as members of the Board of Directors) were issued a warning;

Mr. Dorel Baba (in his capacity as Chief Financial Officer) was issued a warning;

Mr. Laurențiu Riviș was sanctioned with a fine of RON 16,200 (as the person directly responsible for ML/TF);

Mr. Ioan Eugen Cristea was sanctioned with a fine of RON 700 (in his capacity as ML/TF Compliance Officer);

Mr. Ilie Păunel Gavra was sanctioned with a fine of RON 13,700 (in his capacity as ML/TF Compliance Officer).

The main issues identified during the inspection concerned operational aspects relating to the content of the notes to the annual financial statements, organizational aspects of the investment process and the independence of the asset valuation function, procedural/operational aspects of ML-TF risk assessment, inadequate application of customer due diligence measures, and failure to report certain external transfers.

AETA S.A.

Sanctioning AETA S.A. with a fine of RON 15,000 for failing to comply with its reporting obligations, namely to prepare and publish, within the legal deadline, the annual financial report for the financial year 2024 in accordance with the single electronic reporting format.

Ropharma S.A.

Sanctioning Ropharma S.A. with a fine of RON 15,000 for failing to comply with its reporting obligations, namely to prepare and publish, within the legal deadline, the annual financial report for the 2024 financial year in accordance with the single electronic reporting format.

Societatea de Construcții Napoca S.A.

Sanctioning Societatea de Construcții Napoca S.A. with a fine of RON 15,000 for failing to comply with its reporting obligations, namely to prepare and publish, within the legal deadline, the annual financial report for the financial year 2024 in accordance with the single electronic reporting format.

Duplex S.A. Făgăraș

Sanctioning Duplex S.A. Făgăraș with a fine of RON 15,600 for unjustified refusal to respond to the ASF requests, which prevented ASF from exercising its legal powers/competences.

Imposing on Duplex S.A. Făgăraș the obligation to take the necessary measures to respond to the requests of ASF within three working days of the date of entry into force of the individual act.