President of Romania’s Finance Surveillance Authority earns EUR 14,000 a month

President of Romania’s Finance Surveillance Authority ASF gets the highest monthly wage in the institution, namely 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. However, “the wage level of ASF council members is much below the one of the former surveillance committees’ management (CSA, CNVM and CSSPP),” reads a statement of ASF. The authority was created in 2013 by joining three institutions, the Insurance Surveillance Authority, the Private Pensions Surveillance Authority, and the National Securities Commission. The current president of ASF is Dan Radu Ruşanu, while Daniel Daianu is the first vice president. There are three other vice presidents, namely Mircea Ursache, Corneliu Moldoveanu and Ion Giurescu. “Salaries within ASF are lower than those of the ASF management and were established considering the monitored and regulated wage levels in the industry,” according to the institution. In a recent statement, the ASF reminded that it is not paid by the state budget, and rather fueled by revenues depending on the value of the market. The wages of ASF’s employees were reduced in 2013 and this year the institution plans further cuts. “ASF’s budget for this year provides the monthly salary to be reduced by more than 15 percent, compared to the moment when the former surveillance committees have merged,” reads the statement. Irina Popescu, irina.popescu@romania-insider.com