Bucharest, 12 December 2025 - In November 2025, the courts ruled in favor of the ASF in the following relevant cases:
By Civil Judgment No. 1394/10.11.2025, the court ruled in favor of ASF, in opposition to claimant Evergent Investments S.A.
Ruling made in brief:
„Dismisses the application as unfounded. With appeal within 15 days of service. [...]”.
Subject matter: the application filed by the claimant, requesting the court to suspend the enforcement of the ASF Decision No. 933/26.09.2025 sanctioning Evergent Investments S.A. with a fine of RON 17,700.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000453754&id_inst=2
By Civil Judgment No. 5461/19.11.2025, the High Court of Cassation and Justice ruled in favor of ASF, in opposition to the appellant-claimant Euroins România Asigurare-Reasigurare S.A.
Ruling made in brief:
"Dismisses the appeal filed by the appellant-claimant Euroins România Asigurare - Reasigurare S.A., through the court-appointed liquidator CITR Filiala Bucureşti SPRL, against Civil Judgment No. 1642 of 15 October 2024, of the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation, as unfounded. Final."
Subject matter: the appeal lodged by Euroins România Asigurare-Reasigurare S.A. against Civil Judgment No. 1642/15.10.2024, handed down by the Bucharest Court of Appeal in the retrial after cassation with referral, which dismissed as unfounded the application by which the appellant-claimant requested the annulment of the ASF Decision No. 199/20.02.2020.
Note: On the merits, the case concerned the request for annulment of the ASF Decision No. 199/20.02.2020, which imposed a fine of RON 500,000 on Euroins Romania S.A. and also established the obligation to submit to ASF, within 45 days of receiving the decision, a plan of measures to remedy the issues identified during the periodic inspection.
The ruling of the court can be consulted at:
By Civil Judgment No. 5705/26.11.2025, the High Court of Cassation and Justice ruled in favor of ASF, in opposition to the appellant-claimant Societatea Duplex S.A.
Ruling made in brief:
”Dismisses the appeal filed by the appellant-claimant Duplex S.A. against Civil Judgment No. 623 of 16 April 2024, of the Bucharest Court of Appeal - 9th Division for Administrative and Fiscal Litigation, as unfounded. Final.”
Subject matter: the appeal lodged by the appellant-claimant against Civil Judgment No. 623/16.04.2024, handed down by the Bucharest Court of Appeal, which dismissed as unfounded the application filed by this company.
Notes:
Essentially, the claimant's action sought the following:
(i) In the main, the annulment of the ASF Decision No. 721/18.07.2023 (imposing a fine of RON 53,700 on the claimant) and, in the alternative, the amendment of the decision to impose a warning instead of a fine;
(ii) Exemption of the company from paying the fine imposed on it by the ASF Decision No. 721/18.07.2023 and reimbursement of the fine paid;
(iii) Change of the ASF Decision No. 722/18.07.2023 to change the deadline for fulfilling legal obligations from 90 days to 150 days.
The ruling of the court can be consulted at:
By Civil Judgment No. 5695/26.11.2025, the court of appeal ruled in favor of ASF, in opposition to the appellant-claimant Fast Brokers - Broker de Asigurare Reasigurare S.R.L.
Ruling made in brief:
"Dismisses the appeal filed by the appellant-claimant Fast Brokers - Broker de Asigurare Reasigurare S.R.L. against Civil Judgment No. 2019 of 10 December 2024, handed down by the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation, as unfounded. Final."
Subject matter: the appeal lodged by the appellant-claimant Fast Brokers - Broker de Asigurare Reasigurare S.R.L. against Civil Judgment No. 2019/10.12.2024, handed down by the Bucharest Court of Appeal – 8th Division for Administrative and Fiscal Litigation, which dismissed as unfounded the appellant-claimant's request for annulment of the ASF Decision No. 328/29.03.2024.
Notes:
The ruling of the court can be consulted at:
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About the Financial Supervisory Authority
The Financial Supervisory Authority is the national authority established in 2013 by Government Emergency Ordinance 93/2012, approved by Law 113/2013, to regulate and supervise the insurance, private pension, and capital markets. The ASF contributes to strengthening the integrated framework for the functioning of the three sectors, which have a total of over 10 million participants. More information can be found at www.asfromania.ro .
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