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About Financial Supervisory Authority

The Financial Supervisory Authority (ASF) was established as an autonomous, specialized, with legal status, independent, self-financed administrative authority, exercising its duties by taking over and reorganizing all duties and powers of the National Securities Commission (CNVM), the Insurance Supervisory Commission (CSA) and the Private Pension System Supervisory Commission (CSSPP).

ASF is the Romanian competent authority within the meaning of Art. 22 Para (1) of Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as subsequently amended and supplemented, and it has the duties and competencies established by it, exercised in accordance with its own statute.

ASF is the Romanian competent authority within the meaning of Art. 11 of Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation, as subsequently amended and supplemented.

ASF is the Romanian competent authority within the meaning of Art. 48 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC.

The Financial Supervisory Authority (ASF) is the national authority competent to enforce and monitor the observance of the directly applicable regulatory acts issued by the European Union, in the fields provided by this regulation, and for the transposition into the national legislation of the provisions issued by the EU Council, EU Parliament, European Commission and by other European authorities.

ASF is the only national authority competent to represent Romania’s interests before the International Organization of Securities Commissions – IOSCO, the European Securities and Markets Authority – ESMA, the European Insurance and Occupational Pensions Authority – EIOPA and the International Association of Insurance Supervisors – IAIS, being a rightful member of such international authorities, based on the applicable international legislation.