Sanctioning decisions adopted by the ASF Council in November 2025

Bucharest, 16 December 2025 - In November 2025, the Council of the Financial Supervisory Authority adopted several sanctioning decisions, as well as a series of measures applicable to entities/persons operating in the non-banking financial market for violating certain provisions of the relevant legislation.

INSURANCE MARKET

Following the periodic inspection carried out at the brokerage company ASKO Assekuranz Broker de Asigurare S.R.L., the following decisions were issued:

• decision to impose a fine amounting to RON 8,900 for issues related to non-compliance with the requirements regarding moral probity, namely lack of criminal record, failure to have a written policy providing for the verification of the moral probity requirements of its employees, failure to provide the standardized insurance product information document (PID), failure to assess customer requirements and needs using the customer requirements and needs assessment form (hereinafter referred to as the DNT form), failure to record the value of insurance premiums distributed and paid by policyholders directly into the accounts of insurance companies through account 836 prior to the presentation of the insurance product and the conclusion of an insurance contract, incorrect use of account 7071 instead of 70718, failure to implement the two-factor authentication mechanism at the level of an important IT system, as well as failure to identify the SAGA application as an important IT system;
• decision to sanction with a written warning a person within the brokerage company for non-compliance with the requirements regarding the correctness and accuracy of data reported to ASF.

PRIVATE PENSION

BRD Societate de Administrare a Fondurilor de Pensii Private S.A.  was sanctioned with a written warning for identifying deficiencies in its operational processes.

Mrs. Anca Raluca Morar, in her capacity as General Manager of BRD Societate de Administrare a Fondurilor de Pensii Private S.A., was given an administrative warning for identifying deficiencies in operational processes.