Bucharest, 8 July 2022 - In June 2022, the Board of the Financial Supervisory Authority adopted several decisions sanctioning entities/persons operating in the non-banking financial market for violating certain provisions of the relevant legislation.
Capital Market
Electroargeș S.A. - Suspendarea, pe durata desfășurării AGOA și AGEA Electroargeș S.A. Curtea de Argeș, convocate pentru data de 30.06/01.07.2022, exercitării drepturilor de vot aferente unui număr de 16.000.000 de acțiuni ELGS, înregistrate la Depozitarul Central în contul societății Investments Constantin S.R.L., care au făcut obiectul dosarului nr. 238/1259/2020, în care Curtea de Apel Pitești a pronunțat Decizia Civilă nr. 448/A-C. Electroargeș S.A. - Suspension, for the duration of the OGM and EGM of Electroargeș S.A. Curtea de Argeș, convened for 30.06/01.07.2022, of the exercise of voting rights relating to a number of 16,000,000 ELGS shares, registered with the Central Depository on behalf of Investments Constantin S.R.L., which were the subject of case file no. 238/1259/2020, in which the Pitești Court of Appeal delivered Civil Decision no. 448/A-C.
Insurance
Insurance companies
Groupama Asigurări S.A. - Sanctioning with a written warning for non-compliance with certain provisions of Law no. 132/2017.
Onix Asigurări S.A. - Sanctioning with a written warning for using inappropriate Solvency 2 technical reserve calculation methodologies.
Omniasig Vienna Insurance Group S.A. - Sanctioning with a written warning for non-compliance with certain provisions of Law no. 132/2017.
Brokers
Daw Managment Broker de Asigurare S.R.L. - sanctioning with a fine of 75,244 lei, as the controlled entity does not ensure the logging, monitoring and archiving, in accordance with the specific regulations on the matter, not having complied with the provisions of Article 16 para. (2) letter d) of A.S.F. Rule no. 4/2018 on the management of operational risks generated by information systems used by entities authorized/approved/registered, regulated and/or supervised by the Financial Supervisory Authority, as amended.
Asigest Broker de Asigurare-Reasigurare S.A. - sanctioning with a written warning as the company did not comply with the legal deadline for submitting to A.S.F. the proof of registration with the O.N.R.C. of the changes made to the administrative management of the brokerage company, approved by A.S.F.
Contract Asig Broker de Asigurare S.R.L. - sanctioning with a written warning as the company has modified the Articles of Incorporation concerning the change of the registered office without the approval of A.S.F.
Private Pensions
Generali Societate de Administrare a Fondurilor de Pensii Private S.A. - Sanctioning with a written warning for a one-off failure to comply with the legal provisions regarding administrative measures to be taken in relation to a natural person marketing agent, and the correlative obligation to notify A.S.F.
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About the Financial Supervisory Authority
The Financial Supervisory Authority is the national authority, established in 2013 by GEO 93/2012 approved by Law 113/2013, for the regulation and supervision of the insurance, private pension and capital markets. The FSA contributes to strengthening the integrated framework for the functioning of the three sectors, which total more than 10 million participants. More information can be found at www.asfromania.ro .