Sanctioning decisions and other measures adopted by the ASF Council in August 2023

Bucharest, 21 August 2024 - The Council of the Financial Supervisory Authority adopted, in July 2024, several sanctioning decisions, as well as a series of measures applicable to certain entities/persons operating in the non-banking financial market for the breach of certain provisions of the relevant legislation.

 

 

CAPITAL MARKET

 

S.S.I.F. Blue Rock Financial Services S.A.

 

Sanctions/measures ordered following the periodic inspection:

• Sanctioning S.S.I.F. Blue Rock Financial Services S.A. with a fine in the amount of RON 40,300;
• Imposing a plan of measures on S.S.I.F. Blue Rock Financial Services S.A.;
• Sanctioning Mr. Ștefan Nicolae Marius Ungureanu with a fine amounting to RON 1,500, in his capacity as Chairman of the Board of Directors;
• Sanctioning Mr. Franz Wanovits with a fine amounting to RON 1,000 in his capacity as member of the Board of Directors;
• Sanctioning Mr. Martin Alexander Nedelko with a fine amounting to RON 1,000 in his capacity as member of the Board of Directors.

 

The main situations identified during the audit concerned:

• organizational and procedural aspects regarding the designation of the directly responsible manager in charge of the prevention and combating money laundering/terrorist financing; lack of a procedure/policy regarding the recording of telephone calls and electronic communications;
• operational issues regarding quarterly reporting to customers, ensuring record keeping, organization and bookkeeping.

 

 

S.S.I.F. Share Invest S.A.

 

Sanctions/measures following the periodic inspection:

• Sanctioning S.S.I.F. Share Invest S.A. with a fine of RON 130,390;
• Imposing a plan of measures on S.I.F. Share Invest S.A.;
• Sanctioning Mr. Adrian Săndiță with a fine amounting to RON 4,650 – former member of the Board of Directors and General Manager;
• Sanctioning Mr. Dorin Dobre with a fine amounting to RON 4,650 – member of the Board of Directors;
• Sanctioning Mr. George Ciobanu with a fine amounting to RON 4,650 – member of the Board of Directors;
• Sanctioning Mr. Bogdan Amzuică with a warning - member of the Board of Directors and General Manager;
• Sanctioning Mr. Popa Ludovic Popa with a fine amounting to RON 1,000 - person responsible for the protection of clients’ assets;
• Sanctioning Ms. Loreta Magla with a fine amounting to RON 1,000 - Economic Director;
• Sanctioning Ms. Mirela Tătulescu with a fine in the amount of RON 4,350 - representative of the compliance department and risk manager;
• Sanctioning Mrs. Andreea Nicoleta Barbu with a fine in the amount of RON 1,500 - coordinator of the risk management function and Compliance Officer/ ML/TF directly responsible manager;
• Sanctioning Mrs. Stoica Tania Ana with a warning - person designated with the implementation of the international sanctions regime (PDSI);
• Sanctioning Mrs. Șotea Anghel Izabela with a warning - person who provides information on financial instruments, investment services or ancillary services on behalf of S.S.I.F.

 

The main situations identified during the audit concerned:

• various organizational and procedural aspects, approval of financial statements, mandatory notifications to the Authority;
• operational issues related to ensuring record keeping, organization and maintenance of accounting, adequacy of the internal audit function, risk management, adequacy of IT systems and internal controls in place;
• procedural and operational aspects of assessing/monitoring/documenting ML/TF risks and implementing know your customer measures.

 

 

SIMTEL TEAM S.A.

• Sanctioning Simtel Team S.A. with a warning for failure to publish the annual consolidated financial report for the financial year 2023 within the legal deadline;
• Imposing on Simtel Team S.A. the obligation to take the necessary measures in order to prepare the consolidated financial report for the financial year 2023, containing the consolidated financial statements prepared in accordance with the provisions of the Order of the Ministry of Public Finance no. 1802/2014, audited by a financial auditor/audit firm, including its publication.

 

      PROSPECȚIUNI S.A.

• Sanctioning Prospecțiuni S.A. with a fine in the amount of RON 15,700 for failing to publish the annual consolidated financial report for the financial year 2022 and 2023 within the legal deadline;
• Imposing on Prospecțiuni S.A. the obligation to take the necessary measures in order to prepare the consolidated financial report for the financial year 2023, including the consolidated financial statements prepared in accordance with the provisions of the Order of the Ministry of Public Finance no. 1802/2014, audited by a financial auditor/audit firm, including its publication.

 

SINATEX S.A.

• Sanctioning Sinatex S.A. with a fine amounting to RON 35,400 for failure to publish the annual financial report for the financial year 2023 and the results of the voting at the company’s EGMS of 22/23.04.2024 within the legal deadline
• Imposing on Sinatex S.A. the obligation to take the necessary measures to:
  • ensure the publication of the annual report for the financial year 2023, including the financial statements audited by a financial auditor/audit firm,
  • publication on the company’s website of the information on the result of the voting for the EGMS convened for 22/23.04.2024 and for the OGMS convened for 07/08.05.2024.

 

SERVICE NEPTUN S.A.

• Sanctioning Service Neptun S.A. with a fine in the amount of RON 32,200 for failing to publish the annual financial report for the financial year 2023 within the legal deadline.
• Imposing on Service Neptun S.A. the obligation to take the necessary measures to ensure the publication of the annual report for the financial year 2023, including the financial statements audited by a financial auditor/audit firm

 

RAIKO TRANSILVANIA S.A.

• Sanctioning Raiko Transilvania S.A. with a fine in the amount of RON 44,100, as it failed to publish the annual financial report for the financial year 2023 within the legal deadline and failed to comply with the measure established by the ASF Decision no. 1170/09.11.2023.
• Imposing on Raiko Transilvania S.A. the obligation to take the necessary measures to ensure the publication of the annual reports for the financial years 2022 and 2023, including the financial statements audited by a financial auditor/audit firm

 

BANAT ESTIVAL 2002 S.A.

• Sanctioning Banat Estival 2002 S.A. with a fine in the amount of RON 32,200 for failing to publish the annual financial report for the financial year 2023 within the legal deadline
• Imposing on Banat Estival 2002 S.A. the obligation to take the necessary measures to ensure the publication of the annual report for the financial year 2023, including the financial statements audited by a financial auditor/audit firm.

 

BÂLEA ESTIVAL 2002 S.A.

• Sanctioning Bâlea Estival 2002 S.A. with a fine amounting to RON 34,500 for failing to publish the annual financial report for the financial year 2023 within the legal deadline.
• Imposing on Bâlea Estival 2002 S.A. the obligation to take the necessary measures to ensure the publication of the annual report for the financial year 2023, including the financial statements audited by a financial auditor/audit firm.

 

VISUAL FAN S.A.

Sanctioning Visual Fan S.A. with a warning for failure to publish the annual financial report for the financial year 2023 within the legal deadline.

 

HERCULES S.A.

Sanctioning Hercules S.A. with a warning for failing to publish the annual financial report for the financial year 2023 within the legal deadline.

 

TERRA ESTIVAL 2002 S.A.

Sanctioning Terra Estival 2002 S.A. with a fine amounting to RON 20,800 for failing to publish the annual financial report for the financial year 2023 within the legal deadline.

 

ROMANȚA ESTIVAL 2002 S.A.

Sanctioning Romanța Estival 2002 S.A. with a fine amounting to RON 20,800 as it failed to publish the annual financial report for the financial year 2023 within the legal deadline.

 

HOTEL CLUB ESTIVAL 2002 S.A.

Sanctioning Hotel Club Estival Estival 2002 S.A. with a fine amounting to RON 20,800 for failing to publish the annual financial report for the financial year 2023 within the legal deadline.

 

CLĂBUCET ESTIVAL 2002 S.A.

Sanctioning Clăbucet Estival 2002 S.A. with a fine amounting to RON 20,800 for failing to publish the annual financial report for the financial year 2023 within the legal deadline.

 

UNIREA S.A. CLUJ NAPOCA

Sanctioning Unirea S.A. Cluj Napoca with a fine amounting to RON 20,800 for failing to publish the annual financial report for the financial year 2023 within the legal deadline.

 

GRUP ȘERBAN HOLDING S.A.

Sanctioning Grup Șerban Holding S.A. with a warning as it failed to publish the annual financial report for the financial year 2023 within the legal deadline.

 

EMA PIATRA NEAMȚ S.A.

Sanctioning EMA Piatra Neamț S.A. with a warning for failure to publish the annual financial report for the financial year 2023 within the legal deadline.

 

ELECTROARGEȘ S.A.

Suspending, for the duration of the Ordinary General Meeting of Shareholders and the Extraordinary General Meeting of Shareholders of Electroargeș S.A. București, convened for 26/27.07.2024, the exercise of voting rights related 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 no. 238/1259/2020, in which the Court of Appeal Pitesti Pitești delivered Civil Decision no. 448/A-C.

 

 

UCM Reșița S.A.

Sanctioning ICESA S.A., shareholder of the issuer UCM Reșița S.A., with a fine in the amount of RON 78,400, for failure to comply with the provisions of Article 39 of Law no. 24/2017, republished, as amended and supplemented.

 

 

INSURANCE

 

Eurolife FFH Asigurări de Viață S.A.

Sanctioning Eurolife FFH Asigurări de Viață S.A. with a written warning for failure to comply with certain provisions of Law no. 129/2019.

Asito Kapital S.A.

Sanctioning Asito Kapital S.A. with a fine in the amount of RON 22,500 for failure to comply with certain provisions of Law no. 129/2019.

Sanctioning Asito Kapital S.A. with a fine in the amount of RON 23,700 for failure to comply with the provisions of ASF Regulation no. 4/2018 on the management of operational risks generated by the IT systems used by entities authorized/approved/registered, regulated and/or supervised by the Financial Supervisory Authority.

Ontopay Broker de Asigurare S.R.L.

Ontopay Broker de Asigurare S.R.L. (formerly NC Services Broker de Asigurare S.R.L.) was sanctioned with a written warning for failure to comply with the provisions of Article 22 para. (13) of ASF Rule no. 22/2021 on insurance distribution.

 

 

 

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