Facebook LinkedIn

Sanction decisions adopted by the Board of the Financial Supervisory Authority

Bucharest, August 21st, 2020 - The Board of the Financial Supervisory Authority decided, in the meeting dated August 19th, 2020, to sanction Mr. Dan Viorel Paul, in the capacity of Director General of S.S.I.F. Finaco Securities S.A. with a fine amounting 1,000 RON for non-compliance with the initial conditions that must be maintained throughout the operation authorization and violation of the provisions regarding registration with ONRC of the Board of Directors prior to authorization by ASF.

At the same time, the Board of the Financial Supervisory Authority decided to sanction with warning of the company S.S.I.F. Vienna Investment Trust S.A. for non-compliance with the initial conditions imposed on the authorization that must be maintained throughout the operation authorization.

*********

About the Financial Supervisory Authority

The Financial Supervisory Authority is the national authority set up in 2013 by EGO no. 93/2012, approved by Law no. 113/2013, for the regulation and supervision of insurance markets, private pensions, as well as the capital market. ASF contributes to strengthening the integrated operating framework of the three sectors, which totals more than 10 million participants. More information can be found on www.asfromania.ro.