Bucharest, 10 August 2022 - In July 2022, the Council of the Financial Supervisory Authority adopted several decisions sanctioning entities/persons operating in the non-banking financial market for violation of certain provisions of the relevant legislation.
CAPITAL MARKET
S.I.F. Banat Crișana S.A.
Following the results of a periodic inspection of S.I.F. Banat Crișana S.A., the following measures were ordered:
At the same time, a plan of measures to remedy certain deficiencies/mitigate certain risks was imposed on the company.
The main weaknesses found concerned issues related to the procedural/organisational framework, operational activity and the management of operational risks generated by the IT systems used.
Amundi Asset Management S.A.I. S.A.
Following the results of a regular audit at Amundi Asset Management S.A.I. S.A., the following measures were ordered:
The company was also required to draw up a plan of measures to remedy certain deficiencies/mitigate certain risks.
The main deficiencies found concerned aspects of the work of the internal audit function, operational work and the management of operational risks arising from the IT systems used.
Depozitarul Central S.A.
Following the results of a periodic audit at the Central Depository S.A., a plan of measures was imposed to mitigate some risks/implement proactive measures.
S.A.I. Raiffeisen Asset Management S.A.
Following the results of a regular audit of Raiffeisen Asset Management S.A., the following measures have been taken:
At the same time, a plan of measures to remedy certain deficiencies/mitigate certain risks was imposed on the company.
The main deficiencies identified concerned aspects of the organisational framework, operational activity and the management of operational risks arising from the IT systems used.
S.S.I.F. Optimus Fintech S.A.
Following the evaluation of the results of the analysis carried out by S.A.M.I.I.P. and S.S.C. on the fulfilment of the conditions imposed by the operating licence of S.S.I.F. Optimus Fintech S.A., the following measures were ordered:
INSURANCE
Insurance companies
ABC Asigurări - sanctioning the company with a fine of 314,700 lei for:
Sanctioning the members of the Board of Directors (BoD) with a fine, for each member, in the amount of 11,700 lei for delegating powers of the BoD to the Risk Management Committee:
Euroins - Sanctioning with a fine in the amount of 125,400 lei of the general director of the company, Tanja Blatnik, for failure to submit on time the annual financial statements for 2021.
Intermediaries
One Insurance Broker - Reinsurance S.R.L. - Sanctioning with a written warning for making changes to the brokerage company's articles of association without the approval of the A.S.F. (i.e. extension of the administrator's mandate for 10 years and change of registered office).
Best AS Broker de Asigurare - Reassurance S.R.L. - Sanctioning with the withdrawal of the operating licence for non-compliance with Article 2 of the A.S.F. Decision no. 19/12.01.2022 (i.e. failure to submit to the A.S.F., within 90 days, the complete documentation on the appointment of a new executive manager).
PRIVATE PENSIONS
NN Pensii Societate de Administrare a unui Fond de Pensii Administrat Privat S.A. - Sanctioning of Mr. Dan - Valentin Gheorghe, as Investment Director of the company, with a fine of 5,600 lei. The Investment Director was found to have committed a breach of the rules on prudential investment of private pension fund assets.
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