10 May 2021 - With the launch of the new version of the official website of the FSA, the authority also developed a section dedicated to the issue of unauthorized entities, designed to respond to problems faced by investors or potential investors in Romania.
The main purpose of this approach is to combat the Forex phenomenon generated by unauthorized entities, the section being, at the same time, an ASF platform that allows investors to send notices in connection with the entities that are not found in the FSA Register, but which are subject to Law no. 126/2018 on the financial instruments markets.
The section, called “Beware of Unauthorized Entities!”, presents the most common practices used by unauthorized entities, as well as other useful information. The website also provides recommendations on the steps to be taken if an investor / potential investor has been contacted or used the services of such an entity, which is not found in the FSA Register, as well as information on investment firms in the Member States or third countries that can legally operate in Romania.
In order to facilitate communication with investors, the FSA provides a form that they can fill in with the information that they have regarding the unauthorized entities that carry out activities in the field of the capital market, a dedicated email address (Entități.Neautorizate@asfromania.ro), as well as a direct line (021.659.60.51).
The development of this section is part of the major objective of the A.S.F., i.e. to increase the level of investor confidence in regulated entities and also in financial products traded by them.