Announcement regarding the selection process for the Chair of the Board of Directors of the Investor Compensation Fund

Bucharest, 29 August 2025 – The Financial Supervisory Authority (ASF) has begun the selection process for the position of Chairman of the Board of Directors of the Investor Compensation Fund (FCI) for the remaining period until the expiry of the mandates of the members of the current Board of Directors, namely 12 August 2026.

The deadline for submitting applications is 12 September 2025, at 11:59 p.m., to the email address candidati.presedinte.FCI@asfromania.ro. The list of requirements for the position, the contents of the application file, and the rules for submitting applications can be found here.

Members of the Board of Directors must cumulatively meet the conditions set forth in Art. 15 of Law No. 88/2021 on the Investor Compensation Fund and must not be in situations of incompatibility/conflict of interest pursuant to Art. 16 of the same normative act, namely:

 Art. 15. - Members of the Fund's Board of Directors must cumulatively meet the following conditions:

a) be graduates of long-term university studies with a bachelor's degree or short-term university studies with a bachelor's and master's degree;

b) have a good reputation and moral integrity;

c) have proven professional experience in the financial banking or non-banking field of at least 8 years, in the case of graduates of university studies in the economic or legal field, or at least 10 years, in the case of graduates of university studies in other fields.

   Art. 16. - Members of the Fund's Board of Directors must cumulatively meet the following conditions:

   a) not be spouses, relatives, or in-laws up to the second degree; 

   b) not be senators, deputies, members of the Government, or hold leadership positions within any political party or political organization during their term of office;

   c) not have any penalties provided for by law recorded in their criminal record;

   d) not have any penalties provided for by law recorded in their tax record;

   e) not hold the position of shareholder, employee or director, member of the board of directors, supervisory board or management board, as the case may be, within any entity referred to in Art. 3 para (1);

   f) not have been convicted in the last 5 years for committing an offense provided for by the legislation in the field of banking finance, insolvency or consumer protection;

   g) not have been sanctioned by the ASF or the National Bank of Romania (BNR) with a ban on carrying out activities on the markets supervised by them.

According to Article 14 of Law No. 88/2021, the Investor Compensation Fund is administered by a Board of Directors composed of:

a) two members appointed by ASF, one of whom is the Chairman of the Board of Directors;

b) one member appointed by ASF at the proposal of the Ministry of Finance;

c) one member appointed by ASF from among the representatives proposed by the Fund's participants from among themselves;

d) one member appointed by the NBR.

The members of the Fund's Board of Directors are appointed for a 5-year term by an individual administrative act issued by ASF, except for the member appointed by the NBR, who is appointed by order of the NBR Governor, in accordance with the conditions set out in Articles 15 and 16.

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