TITLE: Romania's Financial Supervisory Authority Issues Enforcement Decisions and Administrative Measures for April 2026
BODY:
On May 12, 2026, Romania's Financial Supervisory Authority (Autoritatea de Supraveghere Financiară, ASF) published enforcement decisions and administrative measures adopted by its Council during April 2026 against entities operating in the non-banking financial market for breaching applicable legislation.
In the capital markets sector, SSIF BRK Financial Group received a financial penalty of 49,875 lei, with additional fines imposed on 10 individuals holding key positions, ranging from 1,000 to 12,360 lei. The company was required to implement a remedial action plan. Key deficiencies identified included inadequate internal mechanisms for personal transactions, improper warning procedures, failure to implement effective measures preventing relevant persons with access to privileged information from conducting transactions during closed periods, delayed notification to clients regarding subscription order execution, late reporting of over-the-counter transaction details, and insufficient counterparty risk analysis. SeedBlink received administrative measures requiring implementation of a remedial action plan following an unannounced inspection, with issues relating to organisational and operational aspects of its business model. Fondul Proprietatea (administered by Franklin Templeton International Services S.A.R.L.) was required to implement remedial measures addressing operational risks and procedural aspects concerning its committee activities.
In the insurance sector, Grawe România received a substantial financial penalty of 534,200 lei for inadequate internal control mechanisms, insufficient reserves for notified claims (RCA), and non-compliance with anti-money laundering procedures. Three board members received individual fines totalling 245,200 lei. Additional sanctions targeted key function holders for deficiencies in reserve management and audit activities. Stein Bestasig Insurance Broker S.R.L.'s administrator received a written warning for failing to submit updated identity documentation. Titan Broker de Asigurare S.R.L. had its operating authorisation withdrawn and was removed from the Register of Principal Intermediaries for failing to meet authorisation conditions.