Amidst media campaign on high salaries at Financial Surveillance Authority, director says salaries will be halved in 2014

Financial Surveillance Authority ASF director Dan Rusanu said the organisation could halve the salaries payed to its top staff this year after a media campaign reveal excessively high wages among managers.

Dan Radu Rusanu had the highest salary in the institution, earning in the last two months of 2013 a total gross income of over EUR 72,000.

The first vice-president got the second-highest gross income of over EUR 68,000 in November and December. These amounts included the gross salary, an annual holiday bonus (equivalent to a salary) given to ASF workers, and a bonus for the end of the year.

After being in the media spotlight, the ASF decided to cut these bonuses in 2014, and curb the level of salaries. On a regular month, the ASF director earns the RON equivalent of EUR 14,000, while the salaries of the first vice-president and vice-presidents of ASF amount to the RON equivalent of EUR 12,000. The drop in salaries would then be applied to the other employees of ASF. ASF was created in 2013 by joining three institutions, the Insurance Surveillance Authority, the Private Pensions Surveillance Authority, and the National Securities Commission. Rusanu reminded that salaries at the Insurance Surveillance Authority were even double than those at the existing ASF. editor@romania-insider.com