Sanctioning decisions and other measures adopted by the ASF Council in May 2025

Bucharest, 16 June 2025 - In May 2025, the Financial Supervisory Authority Council adopted several sanctioning decisions, as well as a series of measures applicable to entities/persons operating in the non-banking financial market for breaching certain provisions of the relevant legislation.

INSURANCE MARKET

Grawe România Asigurare S.A. was fined RON 54,500 for infringing the following:

• 21 para. (1) letter b) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as subsequently amended and supplemented;
• 21 para. (2) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as subsequently amended and supplemented;
• 21 para. (4) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as amended and supplemented;
• 21 para. (5) of Law No. 132/2017 on compulsory motor vehicle liability insurance for damage caused to third parties by vehicle and tram accidents, as amended and supplemented.

Pro Mundo Broker de Asigurare S.R.L. was sanctioned with a written warning for non-compliance with the provisions of Article 22 para. (13) of ASF Regulation No. 22/2021 on insurance distribution.

CAPITAL MARKET

S.A.I. Swiss Capital Asset Management S.A.

Penalties/measures imposed following the periodic inspection:

• Establishment of an action plan to be implemented by S.A.I. Swiss Capital Asset Management S.A.
• Imposition of a fine of RON 17,300 on S.A.I. Swiss Capital Asset Management S.A.
• Imposition of a fine of RON 9,300 on Mrs. Valeria Avram in her capacity as General Manager, ML/TF Compliance Officer (in the field of prevention and combating money laundering/terrorist financing) and Directly responsible ML/TF Manager.
• Sanctioning Ms. Ionela Vaitiș with a fine amounting to RON 6,000 in her capacity as Deputy General Manager.
• Sanctioning Mr. Robert Dănilă with a fine amounting to RON 6.500 in his capacity as Deputy General Manager and Person Responsible for the Administration of International Sanctions.

The main issues identified during the inspection concerned organizational and operational aspects related to record keeping, exceeding investment limits, penalties incurred by an AIF, the adequacy of the internal procedural framework, and the adequacy of internal staff training in the areas of ML/TF and IS.

S.A.I. Raiffeisen Asset Management S.A.

Measures taken following the periodic inspection:

• Warning issued to S.A.I. Raiffeisen Asset Management S.A.
• Establishment of a plan of measures to be taken by S.A.I. Raiffeisen Asset Management S.A.
• Warning issued to Mr. Adrian Florin Negru, in his capacity as the person directly responsible for ML/TF.
• Warning issued to Mrs. Maria Luiza Ionescu, in her capacity as SB-FT Compliance Officer.

The main issues identified during the audit concerned organizational and operational aspects related to the frequency of internal audit missions in the ML/TF area and the adequacy of the internal procedural framework.

Societatea de Servicii de Investiții Financiare Swiss Capital S.A.

Measures ordered following the permanent control report: a fine of RON 10,000 for the financial investment services company Swiss Capital S.A. for failure to comply with ASF Decision No. 970/24.09.2024 which established a plan of measures.