Romania's Financial Supervisory Authority sees 5% drop in turnover

Romania’s Financial Supervisory Authority (ASF) posted revenues of EUR 35.3 million last year, down by 5.2% compared to 2014, and total expenses of EUR 27 million. The budget surplus of EUR 8.2 million will be used for future investments. ASF recorded the lowest annual expenditure since its founding. The total spending dropped by over 18% compared to 2014, according to PricewaterhouseCoopers. The personnel expenses decreased by over 21% last year compared to 2014. The expenditure on goods and services fell by 3% compared to 2014. ASF is funded entirely from extra-budgetary funds. The capital market’s contribution to the institution’s revenues dropped by over 35% last year due to the low volume of stock transactions and the small fees and tariffs on the capital market. The insurance’s sector contribution increased by 27% last year whereas the input of the private pension sector went up by 17%. editor@romania-insider.com