ASF to receive technical assistance from World Bank to supervise stock market

The Financial Supervision Authority (ASF) will receive technical assistance from the World Bank, for a better supervision of the stock market following the accord signed with the World Bank and European Commission.

The project, financed by the European Commission, will be carried out for a year, and is meant to incorporate the best practises identified at EU level in the process of redefining the supervision function of ASF, for an approach based on risk of investment companies and fund administrators that activate in the local stock market.

“ASF will benefit from World Bank support, based on experience of other member states and of good practices, will contribute to the development of reforms already initiated by the Romanian authority for the increase of convergence in supervision and the improvement of instruments necessary in identifying and managing risk,” ASF mentions in a press release.

ASF is a national authority set up in 2013 by government decision 93/2012 approved by law 113/2013, for the supervision of insurance, private pensions and stock market. The authority contributes to the consolidation of the integrated functioning frame of the three sector, which include 10 million participants.

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