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Petitions: Consumer's Guide

Where, when and how you can file a petition (complaint) at ASF for Insurances, Private pensions and Financial Instruments and Investments?

Splaiul Independenţei No. 15, sector 5,
Postal Code 050092, Bucharest, Romania


PHONE +4 08 00 825 627
to receive, by phone, specialized assistance in order to file a petition

 

e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
  

Public working  schedule:
Monday - Wednesday:  10:00 - 17:00   
  Thursday:                      10:00 - 18:00    
Friday:                         10:00 - 14:30

Registry Office Hours:
Monday to Thursday: 9.00 - 17.00
Friday:                     9.00 - 14.00

By filing a PETITION (a Complaint or a Notification), the petitioner may notify ASF that it considers that one of its rights was prejudiced by a person or an entity having duties on the insurance, private pensions or financial instruments and investments market.

Thus, ASF may determine whether a supplier of non-banking financial products and services assumes its responsibilities seriously or if additional supervisory and control measures are required. In this way, the complaint settlement activity represents an additional leverage for ASF to protect the legitimate interests of consumers, but also an important source of information for the supervision and control activity.

The petition (the complaint or notification) may be sent by post, e-mail, may be submitted at the headquarters, or via the online form for the transmission of complaints (the form will automatically send an e-mail to the department in charge of settling the petitions related to the market for which the complaint is lodged). ASF also offers expert advice by telephone to Consumers, but petitions cannot be filed by this channel.

Petitions may be filed in writing at the headquarters of ASF during the working hours of the institution’s registry office.

To have your problem settled as efficiently as possible, before submitting a complaint for the attention of ASF, it is important that you make sure that you followed the steps described below.


IMPORTANT: Often, it may be more convenient to try an amicable resolution of your problem by addressing your supplier directly. Thus, you should first contact the company involved and if a consensus cannot be reached, you may address ASF through a complaint.

Details on Filing Petitions and Settling Them:

What is a petition/complaint/notification?

“Petition means the request, complaint, notification or proposal made in writing or by e-mail that a citizen or a duly established organization may address to public central and local authorities and institutions, to public decentralised services of ministries and other central bodies, to business entities and national companies, to county or local interest companies, and autonomous companies, hereinafter referred to as public authorities and institutions”, according to Art. 2 of Government Ordinance No. 27/2002 on the regulation of the complaint settlement activity.

If you were unable to reach an amicable agreement with your financial services provider, you may address ASF and your complaint, accompanied by supporting documents, shall be settled within the legal term of 30 days from the date of its registration. If the facts notified in the petition require a more detailed investigation, the term may be extended by maximum 15 days.

Who may file a complaint?

Any natural or legal person who has at least one of the capacities of non-banking financial services or products consumer, financial instruments and services market investor (capital market), contractor or beneficiary of an insurance or private pension or a prejudiced person may file a complaint.

FILING PETITIONS

When a petition is filed with ASF, it should specify the following: the complainant's name, contact details, the name and address of the entity against which the complaint is filed, a brief description of the problem, the reasons for filing the complaint and it may also suggest solutions to settle the complaint.

The petitioner is advised to follow the following steps:

STEP 1           If the complaint refers to a service provided by an natural/legal person, the petitioner must verify whether the said natural/legal person is authorised by ASF to conduct activities in at least one of the insurance-reinsurance, financial instruments and investments and private pensions sectors. This may be done by consulting the ASF’s Electronic Registries related to suppliers (www.asfromania.ro, section Supervision –Electronic Registries). If such natural/legal person is not on the list, the petitioner must address the competent bodies.

STEP 2           If the natural/legal person in question may be found in one of ASF’s Registries that refer to suppliers, the petitioner must refer to it, must clearly explain what the complaint is about and request the settlement of the situation or information on the steps to be taken.

STEP 3           If the natural/legal person does not resolve the issue, the petitioner should file a written complaint. According to law, the supplier should have in place and implement complaint and notification settlement procedures. If the investor does not agree with the decision, it should file a written complaint with the entity's internal control representative.

STEP 4           While waiting for settlement of the complaint by the natural/legal person at issue, or if a consensus is not reached in relation to the proposed solution, the petitioner may file its complaint with ASF.

The complaint must be in writing and contain the name, address, telephone number and e-mail address of the complainant, so that ASF has its contact details. The name and address of the natural/legal person against which the complaint is filed should also be included.

The complaint should contain a clear and concise account of the facts and reasons for which it was filed, and the proposed solution for settling it.

The complaint should also contain copies of the relevant documents that could help settling it, and answers to them, if issued.

ATTENTION!

  1. Before filling out the forms you should consider the following:

For the protection of personal data, ASF reserves the right to send written answers only to the home address found in the identity card of the petitioner or directly to the petitioner requesting this information at ASF’s headquarters, based on his identity document, where the answers contain sensitive information such as references to personal data and/or documents relating to the outcome of investigations.

The answers that do not affect the person's rights concerning personal data protection may also be transmitted by ASF by other means of communication than the classic postal service: telephone, fax or e-mail, depending on how the initial request was made.

  1. Anonymous complaints or those that do not include identification data of the petitioner are not taken into account and are discarded.
  2. ASF is not legally competent to settle any legal disputes arising between non-banking financial services suppliers and the companies with which they have commercial contractual relationships (any other services supplier natural or legal persons).

PETITION SETTLEMENT – WHAT HAPPENS AFTER THE PETITIONER FILES THE PETITION?

For the receipt of petitions, within each sector of ASF (insurance-reinsurance and financial instruments and investments and private pensions) there are specialists in the field of consumer protection, public relations, and complaint reception and settlement. Furthermore, the Consumer Protection Service operates within the Integrated Supervision Directorate, whose duties include, among others, monitoring the entire non-banking financial markets to identify and correct non-compliant practices of services suppliers.

After receipt of the petition, ASF initiates the petition settlement process. Depending on the case, ASF specialists contact the parties involved in the petition in order to request additional explanations on how the facts occurred. ASF may issue recommendations to both parties and, furthermore, it will explain whether the natural/legal person acted in accordance with the applicable rules and regulations.