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Decisions adopted by the Board of the Financial Supervision Authority - 17.10.2018

 

Bucharest, 17 October 2018 – During today's meeting, the Board of Financial Supervisory Authority (ASF) approved the measures regarding the operating framework of the supervised non-banking financial markets - insurances, capital market and private pensions, including:

       A. Regulation

The main legislative package for the enforcement of Law no. 236/2018 on the distribution of insurances:

  • The draft Rule on Insurances Distribution (the project will be published on www.asfromania.ro, for public consultation, for 10 days);
  • The draft Rorm for the professional training of insurance distributors (the project will be published on www.asfromania.ro, for public consultation, for 30 days);
  • Rule for the enforcement of the guide on insurance-based investment products that include a structure that makes it difficult for the consumer to understand the risks involved (the standard will be forwarded to the Official Journal of Romania).

 B. Supervision

The results of the periodical inspection performed within the company Funk International Romania Insurance – Reinsurance Broker S.R.L .;

The results of the unexpected inspection carried out within Marsh Insurance – Reinsurance Broker S.R.L .;

The sanctioning of the insurance and / or reinsurance brokers who have not complied with the legal provisions regarding the submission of periodical reports to the Financial Supervisory Authority;

Rejection of a prior complaint filed against a FSA decision.

         C. Authorization

The appointment of Mr. Iakab Laurentiu as a member of the Board of Directors of Marsh Insurance-Reinsurance Broker S.R.L .;

Amendment of the Articles of Incorporation of the company Safety Insurance Broker S.R.L. (decrease in the share capital, shareholding structure);

Withdrawal, upon request, of the operating permit of the financial investment services company Confident Invest Bucureşti S.A. and deregistration from the FSA Register from this quality;

Issuance of Registration Certificates for Structured Products issued by Erste Group Bank AG;

Issuance of the Registration Certificate for the new features of the company Retezat S.A. Sibiu, as a result of the increase in the share capital;

Issuance of the Registration Certificate of the new features of the company COS Targoviste S.A .;

Issuance of the Share Registration Certificate for the registration of the share capital increase of Chimcomplex S.A. Borzeşti;

Issuance of the Registration Certificate of shares issued by the International Investment Bank (IIB) for admission to trading on the Bucharest Stock Exchange;

Issuance of the Registration Certificate of Fund Units corresponding to the decrease in the number of units issued by the Closed Investments Fund BET - FI index managed by SAI Broker Invest S.A. following the reimbursement operations;

Deregistration from FSA records of the shares issued by the company Cubic Evolution S.A. Bucharest;

Change in the Prospectus of the Optional Pension Scheme for the Optional Pensions Fund „My pension” managed by Certinvest Pensions, Management Company of the Optional Pensions Fund SA.

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About ASF

ASF is the national authority established in 2013 through GEO 93/2012 approved by Law 113/2013 for the regulation and supervision of insurance markets, private pensions and the capital market. ASF contributes to strengthening the integrated operating framework of the three sectors, which totalls over 10 million participants. More information can be found on  www.asfromania.ro.