Sanctioning decisions adopted by the ASF Council in December

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:

  1. Imposing an action plan on STK Financial AFIA S.A.;
  2. Sanctioning STK Financial AFIA S.A. with a fine of RON 4,000;
  3. Sanctioning Mr. Nicolae Pascu, in his capacity as General Manager and member of the Investment Committee, with a fine of RON 3,100;
  4. Warning Mrs. Cristina Veronica Pascu, in her capacity as Deputy General Manager;
  5. Sanctioning Mr. Gabriel Goia, as member of the Investment Committee, with a fine of RON 2,200;
  6. Sanctioning Mrs. Georgeta Cornelia Polosan, in her capacity as Compliance Officer / Compliance Director, with a fine of RON 5,900;
  7. Sanctioning Ms. Georgeta Turean, in her capacity as Risk Administrator, with a fine of RON 2,000.

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.

  • Oana-Viorica Velicu, as General Manager of Metropolitan Life S.A.F.P.A.P. S.A., was sanctioned with a written warning after identifying deficiencies in operational processes.
  • Anamaria - Isabela Nuțescu, as Operations Manager of Metropolitan Life S.A.F.P.A.P. S.A., was sanctioned with a fine of RON 5,500 after identifying deficiencies in operational processes.
  • Anamaria - Isabela Nuțescu, as Operations Manager of Metropolitan Life S.A.F.P.A.P. S.A, was applied the administrative measure of warning after identifying some deficiencies in the operational processes.
  • Alis Nicoleta Constantin, as Head of Internal Control Service within Metropolitan Life S.A.F.P.A.P. S.A. was sanctioned with a fine of RON 2,600 after identifying deficiencies in operational processes.

 

 

Cookies

www.asfromania.ro uses cookies to personalize and improve your experience on our website. Before continuing to browse www.asfromania.ro, please take the time to read and understand the content of the Cookie Policy. By continuing to browse our website you confirm your acceptance of the use of cookies according to the Cookie Policy.