Bucharest, 23 January 2025 - The Council of the Financial Supervisory Authority adopted, in December 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 infringement of certain provisions of the relevant legislation.
INSURANCE MARKET
IVAS BROKER DE ASIGURARE S.R.L. was sanctioned with a written warning for failure to comply with the provisions of Art. 22 para. (16) of ASF Rule no. 22/2021 on insurance distribution.
CAPITAL MARKET
Bursa de Valori București S.A. (BVB)
Establishment of an action plan for the BVB. The main situations identified during the audit concerned organizational (cumulation of functions) and operational aspects (monitoring activity carried out by the market operator).
STK Financial AFIA S.A.
Sanctions/measures ordered following the periodic inspection:
The main deficiencies found concerned organizational aspects (the way company directors are replaced) and operational aspects (exceeding investment limits and related issues in the work of the compliance officer and the risk manager, management of conflicts of interest).
PRIVATE PENSIONS
Metropolitan Life S.A.F.P.A.P. S.A.
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