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

Bucharest, 7 July 2025 - In June 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 violating certain provisions of the applicable legislation.

INSURANCE MARKET

Groupama Asigurari S.A. was fined RON 50,000 lei for failing to comply with the following provisions:

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

Wilson Insurance Broker S.R.L. was sanctioned with a written warning for failure to comply with the provisions of art. 22 para. (13) of ASF Rule No. 22/2021 on insurance distribution.

CAPITAL MARKET

S.S.I.F. Swiss Capital S.A.

Following the periodic inspection, the following measures were ordered:

1. The application of the following sanctions/measures to S.S.I.F. Swiss Capital S.A.:
   1. a fine in the amount of RON 65,400
   2. the establishment of an action plan.
2. Imposing a fine of RON 20,400 on Mr. Bogdan Juravle, in his capacity as General Manager.
3. Imposing a fine of RON 33,695 on Mr. Olimpiu Blăjuț, in his capacity as Deputy General Manager, in his capacity as ML/TF Compliance Officer, and direct manager responsible for ML/TF.
4. Imposing a fine of RON 18,900 on Mr. Robert Pană, in his capacity as Compliance Officer (RCCO).
5. Sanctioning Mr. Nicolae Moroianu with a warning, in his capacity as Chairman of the Board of Directors.
6. Sanctioning Mr. Mircea Ștefan Solovastru with a warning, in his capacity as Member of the Board of Directors.
7. Sanctioning Mr. Ștefan Dragoș Gioga with a warning, in his capacity as Member of the Board of Directors.
8. Sanctioning Mr. Vlad Zaharia with a warning, in his capacity as a person providing investment services and activities.

The main issues identified during the inspection concerned organizational aspects related to the submission of authorization documents for members of the board of directors, operational aspects related to the conduct of a public offering, and procedural and operational aspects concerning the proper application of customer due diligence measures.

GOLDRING S.A.

Measures taken:

• Sanctioning SSIF Goldring S.A. with a warning;
• Establishing a plan of measures to be taken by SSIF Goldring S.A.

Reason for sanction: identification of an operational error following the sale of government securities from a client's account by another client who had erroneously linked two euro accounts, thus proving that the FISC did not have adequate internal procedures in place, which led to the conclusion that the FISC did not act in a professional manner that best served the interests of the client, thus failing to comply with the provisions of Article 50 sentence (1), in conjunction with the provisions of Article 81 para. (1) sentence I of Law No. 126/2018 on financial instrument markets, as subsequently amended and supplemented.

PRIVATE PENSIONS

Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A.

• Alexandra-Andreea Bălan Marinescu, in her capacity as Deputy General Manager, acting as General Manager of Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A., was fined RON 2,600 for identifying deficiencies in operational processes.
• Alexandra Tulbure, in her capacity as Head of Internal Control and Compliance at Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A., was sanctioned with a written warning for identifying deficiencies in operational processes.
• Ana Neacșu, Head of the Asset Payment Control Department at Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A., was sanctioned with a written warning for identifying deficiencies in operational processes and was given an administrative warning.
• Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A. was sanctioned with a written warning for identifying deficiencies in operational processes, and a plan of measures was imposed on Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A
• Ana-Maria Gângu, Head of the Back Office Department at Allianz-Țiriac Pensii Private Societate de Administrare a Fondurilor de Pensii Private S.A., was given an administrative warning for identifying deficiencies in operational processes.

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