Activity Report of the Financial Supervisory Authority (ASF) for 2015

Activity Report of the Financial Supervisory Authority for 2015 presents the actions and directions pursued at the level of the three regulated markets: insurance market, capital market and private pension system.

ASF continued in 2015 to support the implementation of European directives and to reform the legal framework for non-banking financial markets.

A major objective in 2015 was consumer protection. ASF has pursued and achieved the strengthening of the consumer protection, the development of financial education and training program and the modernization of petitions process.

In terms of strategy and financial stability, the insurance law, regarding the Guarantee Fund, has been changed in order to introduce the insurance mechanisms for resolution. Also, ASF conducted in 2015 two stress tests on the insurance market in Romania, attended by most local companies.

The report also presents strategic objectives for the next 3 years like: creating an integrated framework for operation and supervision of participants and also of non-banking financial markets operation, involvement in the sustainable development of these markets, etc.

 More details on behalf of ASF Report are here.