Press Release: Judgments ruled in favour of the Financial Supervisory Authority in January 2023

Bucharest, 6 February 2023 - In January 2023, the courts ruled in favor of ASF in the following cases:

 1. High Court of Cassation and Justice - Case file no. 3390/2/2021

By Judgment no. 318/25.01.2023, the High Court of Cassation and Justice rendered a decision in favour of ASF, against claimant Miloiu Dan.

Ruling made in brief:

„Dismisses the appeal brought by the appellant-claimant Miloiu Dan against Judgment no. 625 of 23 March 2022, delivered by the Bucharest Court of Appeal– 9th Division for Administrative and Fiscal Litigation, as unfounded.

Final. (...)”

Subject matter of the case: the appeal brought by the appellant-claimant against Judgment no. 625/23.03.2022, by which the Bucharest Court of Appeal dismissed, as unfounded, the action brought by the claimant.

On the merits, the application sought, inter alia, the annulment, in whole or in part, of the provisions of Article 32 para. (4) of the ASF Rule no. 20/2017, more specifically, in the sense of no longer allowing the punishment-penalisation of insured individuals who own several motor vehicles more than once for the same damage file, which is currently allowed by associating the bonus-malus system to the person of the insured rather than to each property subject to insurance.

The ruling of the court can be consulted at:

https://www.scj.ro/1094/Detalii-dosar?customQuery%5B0%5D.Key=id&customQuery%5B0%5D.Value=200000000395814

2. Bucharest Court of Appeal - Case file no. 6795/2/2022

By Judgment no. 114/26.01.2023 Bucharest Court of Appeal rendered a decision in favour of ASF, against claimant Adamescu Bogdan Alexander.

Ruling made in brief:

„Dismisses the application as unfounded.

With appeal within 15 days of service. (...)”

Subject matter of the case: (i) mainly, annulment of ASF decision no. 1166/28.08.2022 and, consequently, annulment of all the measures ordered based on that decision, namely the sanctioning of the claimant, Bogdan Alexander Adamescu, with a fine in the amount of 11,600 lei, as well as the publication of the decision on the ASF and BVB websites, since they are unlawful and unfounded, with the consequence of exoneration from payment of the fine,

(ii) subsidiarily, replace the fine of 11,600 lei imposed for the alleged infringement of Article 146 para. (1) of Law no. 24/2017 with the measure provided for in Article 147 para. (1) letter a) point 7 of Law no. 24/2017 or decrease the amount of the fine from 11,600 lei to 10,000 lei,

(iii) annulment of ASF Decision no. 1241/13.09.2022 amending ASF Decision no. 1166/25.08.2022.

The ruling of the court can be consulted at:

https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000413271&id_inst=2

3. Bucharest Court of Appeal - Case file no. 2303/2/2022

By Judgment no. 138/27.01.2023, Bucharest Court of Appeal rendered a partial favorable solution to ASF, against claimant Grigore Chiș, as member of the House Investment Committee within SSIF BRK Financial Group S.A., during the controlled period (29.10.2019 - 30.08.2021).

Ruling made in brief:

„Grants in part the application. Orders the reduction of the fine imposed by Decision no. 256/07.03.2022 from 5,900 lei to 1,000 lei. Dismisses the remainder of the application as unfounded.

With appeal within 15 days of service. (...)”

Subject matter of the case:

• Mainly, annulment in its entirety of ASF Decision no. 256/07.03.2022, by which the applicant was sanctioned, as a member of the House Investment Committee within SSIF BRK Financial Group S.A., during the controlled period (29.10.2019 - 30.08.2021), with a fine in the amount of 5,900 lei, with the consequence that the sanction imposed is removed in its entirety;
• Subsidiarily, in the event that the Decision is not annulled in its entirety, its annulment in part, with the consequence of reducing the penalty imposed and even changing the penalty of the fine to a warning or reducing the amount of the fine imposed on the claimant, in view of the fact established.

Specifically, the court upheld the findings of ASF contained in the sanctioning decision, but reduced the amount of the fine from 5,900 lei to 1,000 lei.

The ruling of the court can be consulted at:

https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000406883&id_inst=2

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