Hundreds of baskets of luxury products were sold by the Financial Inspection on the occasion of Easter. The total amount spent was 30,000, writes Europa Liberă.

Management of ASFPhoto: Inquam Photos / George Călin

The Easter baskets contain selected products: French wines, chocolate and foie gras, which are purchased through a company that traditionally has contracts with Romanian government institutions.

Earlier in the week, ASF bought gift baskets from Bucharest-based luxury goods company Le Menoir, with which the government has long-standing ties, through an e-procurement platform in Romania.

Yes, ASF bought 140 Baskets Chez Maxim 19%, 140 Baskets Chez Maxim 9%, 10 Baskets Fantastique 19% and 10 Baskets Fantastique 9%.

From the available data in the public procurement system, it is not clear what exactly the baskets contain, but they are presented on the website of the company that supplies them.

The Easter baskets that can be found on the company’s website are priced higher than what ASF was buying them for.

The basket costs from 70 to 330 lei per piece, depending on the products. The expensive ones have French wine, a bun and terrine or foie gras.

  • The town halls have ripped off the piggy bank for Easter decorations. At the top of the fairs in Craiova, which Olguts Vasilescu presents as “the first place in Europe”

Who manages the ASF?

The Financial Supervisory Authority (ASF), the body that regulates capital markets, insurance and private pensions with tens of billions of euros in assets, has witnessed another high-profile bankruptcy this year. After the bankruptcy of City Insurance a year and a half ago, the scenario repeated itself with Euroins, which in 2022 became the company with the largest number of automobile civil liability policies (RCA).

Financial supervision is headed by the Council, which consists of 9 members: 5 executive members, respectively, the president, the first vice-president and 3 vice-presidents, as well as 4 non-executive members. They are appointed for a period of 5 years, starting from November 14, 2018.

ASF President Niku Marku was appointed by the Parliament on the proposal of the PNL in June 2020 after the resignation of Leonardo Badea, who was appointed by Liviu Dragnia and who left the ASF for the post of Deputy Governor of the BNR.

While thousands of drivers in Romania were paying more expensive RCA policies, the bankruptcy of City Insurance, the largest insurance company in Romania, saw the management of ASF increase its revenues.

How much does ASF management earn?

What are the incomes of ASF management members according to the latest data on the institution’s website and according to the latest declarations for the summer of last year:

  • To Nick Mark, President of ASF:

Salary – 43,178 lei

Compensation of a member of the ASF Council – 19,665 lei

According to his latest wealth declaration for June 2022, Niku Marku received 748,324 lei from his salary in the previous financial year compared to 391,563 lei in 2020. He also had 190,000 lei in his account.

  • Olena Doina Daskalou, First Vice-President of ASF:

Salary – 38,477 lei

Compensation of a member of the ASF Council – 19,665 lei

In his latest property declaration from last summer, Daskalu reported an annual income of 713,489 lei from ASF assistance

  • Christian Rosu, Vice President

Salary -33,774 lei

Compensation of a member of the ASF Council – 19,665 lei

In his latest property declaration from the summer of last year, Christian Rochu indicated an annual income from ASF assistance of 658,079 lei.

  • Daniel Stefan Armenianu, vice president

Salary -33,774 lei

Compensation of a member of the ASF Council – 19,665 lei

In his last declaration of wealth last summer, Armenianu declared a salary of 656,775 lei. He has money in 16 bank accounts and deposits

  • Gabriel Gredinescu, Vice President

Salary – 33,774 lei

Compensation of a member of the ASF Council – 19,665 lei

In his last wealth declaration last summer, Gredinescu reported an annual income of 665,260 lei.

In addition to the monthly salary, ASF management also receives:

  • Vacation pay – 100% of the monthly salary and/or monthly payment for the month preceding the payment, within the budget funds provided for this purpose.
  • Vacation bonus is not provided, in accordance with the provisions of Art. 1 paragraph (9) of GEO No. 8/2009 on the provision of vacation vouchers, approved with amendments and additions by Law No. 8/2009. 94/2014 with subsequent changes and additions.
  • Other monetary rights in the amount of no more than 2 monthly salaries or monetary allowances.

Non-executive management of ASF

The non-executive members of the ASF Board are: Jozef Birtalan, Ioan Gheorghe Shera, Aura Gabriela Sokol and Ovidiu Rezvan Vlassopol.

They receive a monthly net remuneration as ASF Board members of 19,665 lei.

They can also take advantage of another income in accordance with the law – an allowance for participation in the auxiliary structures of the ASF Council, at a net cost per member of 9,975 lei.