ASF International Conference: Non-banking Financial markets are on the right direction

Organised by ASF in cooperation with the Academy of Economic Studies of Bucharest (ASE) and the University "Alexandru Ioan Cuza" University of Iași (UAIC), the second edition of this annual event, held under the aegis of "The Days of the ASF," has the size of a regional conference, with the participation of officials of regulatory and supervisory authorities from Austria, Hungary, Bulgaria, and the Executive Director of the European insurance and occupational pensions supervisors (EIOPA) Mr. Fausto Parente.

On the first day of the international conference "Financial innovation, consumer protection and financial stability of emerging markets", Mr. Misu Negriţoiu (President Financial Supervisory Authority (FSA), said: ”Non-banking financial markets grow, despite several regulatory and supervisory issues that have been managed in parallel, and consumer protection remains a common debt of the supervisor and market players”.

The guests of honor of ASF conference included Mr. Klaus Kumpfmueller, executive director of the Austrian financial market authority - FMA, which addressed the issue of optimization of resources and costs with the supervision of investment funds, in the context of numerous challenges posed by the current European and global financial environment.

The Senior Vice President of the Bulgarian Financial Supervision Commission (FSC), Mr. Vladimir Savov, showed the importance of increasing financial literacy, any effort to improve in this chapter being a tool to strengthen the protection of consumer interests.

Professor Daniel Dăianu, member of the Board of Directors of the National Bank of Romania (NBR), reviewed the many uncertainties and major conceptual dilemmas faced by the international circles of economic thinking and, in particular, central banks, which are called upon to give solutions to complex challenges, atypical and unprecedented.

The panel dedicated to consumer protection and financial stability was coordinated by Mr. Cornel Coca Constantinescu, Senior Vice President of ASF, and had as lecturers: Adrian Mitroi, Professor at ASE, Paul Anghel, Director of the National Consumer Protection Authority, Alin Iacob, President of the Association of Romanian Financial Services Users, Valentin Ionescu, Director of the Strategy and Financial Stability Directorate of ASF, and Călin Rangu, Director of the Consumer Protection Directorate of ASF.

In the panel dedicated to the capital market, discussions were moderated by Mrs. Cătălina Sava, Director of the Supervision and control Directorate, Instruments and Financial Investments Sector (IFFS), at ASF.  Lecturers were Florentina Boboc, Director of the Licensing and Regulation Directorate, IFFS, at ASF, Ciprian Copariu, Director of Issuers, Transactions and Market Abuse Monitoring Directorate, IFFS, at ASF, Răzvan Furtuna, Head of Private Banking at BCR, Lucian Isac, General Manager of SSIF Estinvest SA, Mihaela Stoica, Manager of MiFID Training and Control Department at Raiffeisen Bank, Ionel Fierascu, Head of Compliance at Raiffeisen Bank.

In the second day of the conference, there will be a number of academic presentations and research papers to be supported by experts in finance, reputable teachers and researchers from universities in the country and abroad.