Head of Romania's Financial Supervisory Authority could be removed from office

Misu Negritoiu, the president of the Financial Supervisory Authority (ASF), will be removed from office, liberal deputy Andreea Paul said yesterday. “The plenary will reunite in the next days and will vote for revoking ASF president Misu Negritoiu,” Paul explained. The ASF president was heard by the Committee for economic policies, reform and privatization within the Chamber of Deputies. Paul has suggested the committee to start the parliamentary procedure for removing Negritoiu from office, and Mihai Tudose, the president of the economic committee, said that the “papers are ongoing”. The MPs consider Negritoiu responsible for the bankruptcy of the local insurers Astra and Carpatica Asig, and for the problems in the mandatory car insurance (RCA) market. The RCA tariffs have significantly increased in the last year, which has led to big tensions between road carriers and insurers. The Government recently decided to freeze the RCA premiums for six months and ASF presented the maximum tariffs last week. Negritoiu said that he refuses to leave the office. “There are no miracle solutions. Anyone who were in my position would have to go through this. (...) I haven’t done anything that didn’t need to be done.” editor@romania-insider.com