Press release: Sanctioning decisions adopted by the ASF Council in April 2023

Bucharest, 16 May 2023 - In April 2023, the Council of the Financial Supervisory Authority adopted several decisions sanctioning entities/persons operating in the non-banking financial market for violating certain provisions of the relevant legislation.

CAPITAL MARKET

S.S.I.F. BRK Financial Group S.A.  

Following the results of an unannounced inspection, the following sanctions were imposed:

• a fine of RON 7,670 was imposed on Mr Cristian Meștereagă, as a person who provided investment services and activities;
• a fine of RON 2,300 was imposed on Mr Dumitru Ivanov as a person who provided investment services and activities;
• a fine of RON 3,000 was imposed on Mr Florin Popescu as a person who provided investment services and activities;
• a fine of RON 3,000 was imposed on Mr Radu Simion Francisc Dianu, as a person who provided investment services and activities;
• a fine of RON 2,300 was imposed on Mr Vasile Burnar, as a person who provided investment services and activities;
• a fine of RON 3,700 was imposed on Ms Amalia Maria Bărăian, in her capacity as representative of the internal control/compliance department.

The main deficiencies found concerned operational issues relating to the way brokerage contracts for margin transactions were concluded, the use of an unregistered telephone device in dealing with a client and the notification of relevant issues to the company's internal auditor..

Prebet S.A. Aiud

By ASF Decision no. 344/10.04.2023, Mr Marius Mitrus, as member of the Board of Directors of Prebet S.A. Aiud, was fined RON 2,200 at the time of the facts. From the verifications carried out, it emerged that on 3 February 2022, during the closed period related to the publication of the preliminary financial results for 2021, Mr Marius Mitrus, member of the Board of Directors of Prebet S.A. Aiud, carried out a transaction for the purchase of PREB symbol shares with the following characteristics: volume of 30,000 shares, value of RON 48,000, price RON 1.6/share, thus failing to comply with the prohibition established by art. 19 para. (11) of Regulation (EU) no. 596/2014 on market abuse.

INSURANCE MARKET

Asigurarea Românească – Asirom Vienna Insurance Group  S.A. was sanctioned with a written warning for violating the provisions of Art. 21 para. (1) letter b), para. (3), para. (4) and para. (5) of Law no. 132/2017 on compulsory motor third party liability insurance for damage caused to third parties by vehicle and tram accidents, as amended.

Omniasig Vienna Insurance Group S.A. was sanctioned with a written warning for violating the provisions of Art. 21 para. (1) letter b), para. (4) and para.(5) of Law no. 132/2017 on compulsory motor third party liability insurance for damage caused to third parties by vehicle and tram accidents, as amended.

Allianz-Țiriac Asigurări S.A. was sanctioned with a written warning for violating the provisions of Art. 21 para. (1) letter b), para. (3), para. (4) and para. (5) of the Law no. 132/2017 on compulsory motor third party liability insurance for damage caused to third parties by vehicle and tram accidents, as amended.

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About the Financial Supervisory Authority
The Financial Supervisory Authority is the national authority, established in 2013 by GEO 93/2012 approved by Law 113/2013, for the regulation and supervision of the insurance, private pension and capital markets. The FSA contributes to strengthening the integrated framework for the functioning of the three sectors, which together account for more than 10 million participants. More information can be found at www.asfromania.ro.