The Romanian Financial Supervisory Authority (ASF) published a round-up of sanctions and other supervisory measures adopted in July 2025 against entities and individuals in the non-banking financial market for breaches of applicable legislation, including insurance distribution rules, capital markets requirements, reporting obligations and anti-money laundering and counter-terrorist financing (AML/CFT) controls. In insurance, written warnings were issued to 5MM Broker de Asigurare and Inter Broker de Asigurare for non-compliance with provisions in the insurance distribution framework. In capital markets, periodic inspections resulted in a RON 17,800 fine and a remedial measures plan for Infinity Capital Investments, alongside individual sanctions including RON 10,000 fines for Sorin Iulian Cioacă (board chair, chief executive and AML/CFT responsible) and Viorica Bălan (AML/CFT compliance officer), and warnings for other senior managers. Lion Capital received a RON 16,200 fine and a remedial measures plan, plus warnings for the chair and several board and finance executives and fines for AML/CFT officers of RON 16,200, RON 13,700 and RON 700, with findings spanning annual financial statement disclosures, investment governance and independence of the asset valuation function, AML/CFT risk assessment and customer due diligence, and failure to report certain external transfers. Depositarul Central was sanctioned with a warning over delays in appointing persons responsible for AML/CFT and the administration of international sanctions. Separate actions included RON 15,000 fines for AETA and Ropharma and a sanction for Societatea de Construcții Napoca for late publication of their 2024 annual financial reports in the required single electronic reporting format, and a RON 15,600 fine for Duplex for an unjustified refusal to respond to ASF requests. Duplex was also ordered to submit the requested responses within three working days of the individual act entering into force.
Romanian Financial Supervisory Authority 2025-08-14
Romanian Financial Supervisory Authority imposes July 2025 sanctions across insurance and capital markets with fines up to RON 17,800
In July 2025, the Romanian Financial Supervisory Authority sanctioned breaches in the non-banking financial market, including insurance distribution, capital markets, and AML/CFT controls. Key actions included fines and remedial plans for Infinity Capital Investments and Lion Capital, warnings for Depositarul Central, and penalties for AETA, Ropharma, and Societatea de Construcții Napoca for reporting failures. Duplex was fined and ordered to comply with ASF requests within three days.