Romanian Financial Supervisory Authority


The Romanian Financial Supervisory Authority is the national government agency responsible for financial regulation in Romania. Its mandate is to regulate, supervise, and control non-bank markets in Romania.
Under European Union policy frameworks, the ASF is a voting member of the respective Boards of Supervisors of the European Insurance and Occupational Pensions Authority and European Securities and Markets Authority. It is also a member of the European Systemic Risk Board.

History

The Authority was founded on April 26, 2013 through the merger of three prior regulatory bodies that had covered the same area of responsibility - the,, and .

Governance and operations

The ASF is under the control of the Romanian Parliament. It has three areas of activity, insurance-reinsurance, capital markets, and private pensions.
It is run by a council of nine members, with five of the nine in executive positions: a president, a head vice president, and three vice presidents for sectors: insurance-reinsurance, capital markets and private pensions.