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Decisions adopted by the Financial Supervisory Authority’s Board - 28.03.2018

 

Bucharest, 28 March 2018 – During today’s meeting, The Financial Supervisory Authority’s Board (ASF) approved some measures with regard to the operating framework for non-banking financial markets supervised – insurance, capital market and private pensions, among which:

 

A)          Regulation

Draft regulation to amend and supplement ASF’s Regulation no. 3/2014 on certain issues related to the application of Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy and Regulation (EU) no. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) no. 648/2012 (the draft  rule shall be put to public consultation for 30 days on the website www.asfromania.ro,);

Draft regulation to amend ASF’s Regulation no. 9/2015 on the settlement procedure by the entities regulated and supervised by the Financial Supervisory Authority under Capital Market Law no. 74/2015 on alternative investment fund managers of petitions concerning their activity on the capital market. (the draft rule shall be put to public consultation for 10 days on the website www.asfromania.ro,).

 

B)          Supervision

Sanction insurance and/ or reinsurance brokers to have infringed upon the statutory provisions on forwarding reports relating to the 3rd and 4th quarters to the Financial Supervisory Authority;

Dismiss a prior complaint lodged against a decision ASF had made.

 

C)           Authorization - Licensing

Authorize STK Financial Societate de Administrare a Investițiilor S.A. as AFIA and register it with the ASG Register;

Appointment of Madam Buduroiu Lenuța-Mirela and of Mister Pintilie Vlad as leaders of SSIF BT Capital Partners S.A.;

Issuance of the Securities Registration Certificate relating to structured products issued by Erste Group Bank A.G.

 

D)          Miscellaneous (subject to a separate press release)

 

Report on the insurance market’s development in 2017;

Report on the status of petitions registered with ASF in 2017;

Report on the calculation of indicators specific to the consumer protection activity for the insurance- reinsurance market in 2017;

Report on the analysis of the payment period and settlement of the registered claim files with insurers during the 4th quarter of 2017 based on the mandatory motor third –party liability insurance (RCA).

 

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About ASF

ASF is the national authority, established in 2013 under GEO 93/2012 approved by Law 113/2013, for the regulation and supervision of insurance, private pensions and capital markets. ASF contributes to consolidating the integrated framework of operation of the three sectors, totaling over 10 million participants.

More information can be found on www.asfromania.ro.