Romania’s Financial Supervisory Authority (ASF) reached EUR 37 million in revenues last year, 12% over the budgeted level.

The capital market entities generated almost half of ASF’s total revenues (47.3%), namely EUR 17.5 million, a third more than expected.

The regulator got almost 8.4 million from the investment funds and investment companies it supervises, such as Fondul Proprietatea, the financial investment companies (SIFs) and the local mutual funds. The remaining EUR 9.1 million came from trading fees, and fees on public offerings that took place on the Bucharest Stock Exchange.

The insurance sector generated revenues worth EUR 11 million, slightly under budget, and the private pension entities paid some EUR 7.7 million.

While revenues were higher, ASF’s expenses were some 14% lower than the budgeted level, at EUR 33 million. The authority thus managed to end the year with a EUR 4.1 million surplus, compared to a budgeted deficit of EUR 5.1 million.

ASF’s president is Misu Negritoiu, former president and CEO of ING Romania.

editor@romania-insider.com