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The ASF's position regarding the information recently published by SIF Transilvania SA

Bucharest, April 30th,  2020 – Considering the information recently published by Transilvania SA Financial Investment Company  (SIF Transilvania SA) on its website, messages signed by certain persons who no longer have the quality of representatives of this company, in which serious accusations are brought to the Authority of Financial Supervision (ASF) and to the members of the ASF Board, the Authority wishes to make the following clarifications:

  • The ASF strongly denies the statements published in reaction to the measures taken by the Authority to restore the conditions of legality regarding the operation of SIF Transilvania SA, as well as to respect the rights of the shareholders of this company;
  • The ASF acts in good faith, equidistantly and within the limits of the law that gives it responsibilities for the regulation and supervision of non-banking financial markets in Romania;
  • The ASF is, according to the law, the only authority able to rule on the considerations of opportunity, assessments and analyses underlying the issuance of its decisions. The Authority has not acted and will not act in any case under pressure from any public or private entity to carry out the acts of regulation and supervision of non-banking financial markets.

The management and employees of the Financial Supervisory Authority reserve the right to refer the matter to the competent bodies and to take legal action against those who deliberately infringe both the dignity and good reputation of the individual and the institutional prestige.

 

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About ASF

ASF is the national authority set up in 2013 through OUG 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 amounts over 10 million participants. More information can be found at www.asfromania.ro.