About 15 pct of files approved during Romanian EU Presidency referred to areas under ASF's competence

About 15 percent of all the files approved during the Romanian Presidency of the Council of the EU concerned areas falling under the competence of the Financial Supervisory Authority (ASF); the debates and agreements concluded on the respective files resulted in 17 regulatory acts, said ASF president Leonardo Badea. 

"About 15 percent of the total number of files approved during Romania's half-year EU Presidency referred to areas falling under the competence of the ASF. The debates and agreements concluded on these files resulted in 17 legislative acts. Among the most important files that saw ASF getting involved in reaching an agreement, I'll mention the one on the Pan-European Personal Pension Product, the Financing of SMEs on the Capital Market, and the Cross-Border Distribution of Investment Funds," Badea said in a statement to AGERPRES. 

He mentioned that 12 files have been approved in the non-banking financial sector, of which 9 settled with a political agreement, 1 with a general agreement and 2 in negotiation. 

Badea also referred to the macroeconomic framework and pointed out that in Romania it is characterized by the return of investments into positive territory and by a relative increase in private consumption - the main driver of economic expansion, against the backdrop of the rising external deficit.