​Hundreds of staff at the Financial Conduct Authority (ASF) are threatening to sue the Nick Marks-led body if they don’t receive their “last year’s performance bonus” and later their “ASF Day bonus” by September 15. a source who wished to remain anonymous told HotNews.ro on Friday. After two major RCA bankruptcies, Marku no longer has the political support to win another mandate, so people close to him began to leave the ASF.

The crisis triggered by the ASF comes in the context of the mandate of the 9 members of the Financial Supervision Authority (ASF) leadership ending on November 15, and in the context of fiscal austerity measures prepared by Čolak, which will also target the authorities under the auspices of the Parliament, which is self-financed from industry revenues and indirectly also from citizens’ money such as ASF.

What bonuses did the ASF employees not collect this year?

Jurnalul.ro was the first to report that hundreds of employees are threatening to strike and sue ASF management to receive their first two salaries under the collective bargaining agreement.

• “Thus, in March, employees were supposed to receive a bonus based on the results of their work for the past year. Depending on the assessment of each employee, bonuses range from 50% to 75% to 100% of salary.
• This year, the premium was no longer paid due to the scandal that broke out after the bankruptcy of the largest insurer RCA Euroins Romania.
• Every year at the beginning of June, workers celebrate ASF Day, an event that is accompanied by a substantial bonus equal to the salary. This bonus was also not paid, and the employees threatened to strike,” writes Jurnalul.ro.

ASF management agreed to pay bonuses in October and November

Faced with threats of a strike, the president of the ASF radically changed his position, writes Jurnalul.ro, and on August 23 the ASF Council approved the payment of the bonuses demanded by the workers.

According to an email sent on August 24 to the president of the ASF union, Mihail Constantinescu, the payment of these bonuses will be made together with the payment of salary rights for October and November, that is, in the months of November and December, according to exclusive data from the newspaper.

Sources from the insurance market clarified to Jurnalul that the postponement of the payment of the two premiums was caused by the scandal caused by the bankruptcy of Euroins and the vote in the parliament of the new management of the ASF, which should be completed by November 15, 2023.

• “Had he paid his dues earlier, the current president of the ASF – like other leaders hoping for another mandate – would risk being accused in the relevant committees of the parliament at the moment he is heard, if he is appointed from the new PNL and PSD at the head institutions If they are appointed after a performance bonus is paid, those who know they have a chance of being reappointed will decline to receive it, most likely to perform well in an audition.” writes Journal.

The head of the ASF trade union for HotNews.ro: We do not agree. We will apply to the court

HotNews.ro verified all this information with several sources in the ASF, who confirmed to us that it is true, noting that the proposal of the ASF leadership was rejected by the unionists.

• “The ASF trade union stated that it will not give up the lawsuit in court if the employees do not receive the bonus for the results of 2022 by September 15, and in October – the bonus for the ASF Day”. ASF sources informed HotNews.ro about this on Friday.

Contacted by HotNews.roASF union president Mihaela Constantinescu confirmed that the offer had been rejected.

“We do not agree and will go to court. The union, which has about 400 members, has gone to great lengths to avoid legal action. These are legal rights provided for by the Collective Labor Agreement.” This was stated by the head of the ASF trade union on HotNews.ro on Friday.

Daniel Apostol announced his departure from ASF on Friday. Other people close to Mark have already left

Also, in the context of the replacement of the ASF leadership, several people that Nika Marku brought to ASF have already left the institution.

On Friday, ASF spokesperson Daniel Apostol announced his departure on the ASF WhatsApp account:

• “Good morning! From today, September 1st, for any topic related to ASF, please contact Silvio Udrau and/or Luciano Popa. I am very grateful for the elegance of our collaboration over the last three years and for the interest shown in ASF’s activities. I wish you continued success!”, wrote the apostle Daniel.

Daniel Apostol, who contacted HotNews.ro to provide additional reasons related to the reasons for the departure or the new job, did not want to give details, saying that “these questions concern purely personal issues.”

Daniel Apostol is not the only close associate of the ASF president who is leaving the institution.

• “On Wednesday evening, Prime Minister Marcel Cholaku sent a message to the PSD WhatsApp group that PSD no longer supports Marka as the head of the ASF. Apostol is not the only one who left ASF. Cabinet director Nico Marcu, reserve general George-Viorel Voinescu, a former deputy director of the SRI, left yesterday.
• Also gone is Paul Christian Tutse, who was brought in as ASF Secretary General by Nika Marka, whose brother is the brother of PNL MP George Tutse, who before becoming a parliamentarian was chief of staff to former SRI chief Eduard Hellwig.”, Sources from the ASF also informed HotNews.ro about this.

Last year, the salaries of the management of ASF increased

Heard in parliament after RCA’s two major bankruptcies, members of the ASF management defended themselves, claiming that they had applied historic fines to Euroins of 16 million lei over 3 years, that data had been withheld from them in the control process, and that they had filed claims of criminal wrongdoing.

On the other hand, even in the decision to withdraw from the activity, ASF emphasized that Euroins collects 8 million per day from RCA.

The management of the ASF was also summoned to the government for an explanation, given that in order to stabilize the RCA market, the executive body led by Nicolae Chuke decided on Wednesday to limit RCA prices.

And it all stopped there.

Meanwhile, the ASF management has published its property declarations for the past year, and revenues are significantly higher than in 2021, Economedia.ro reports.

• Niku Marku, President of ASF, received a salary of 989,925 lei in 2022 for this position, which is an increase from 748,324 lei in 2021 and an increase from 391,563 lei in 2020. He also accumulated an income of 28,533 lei from the Academy of Economic Studies. Financial assets from the current account in the amount of 117,852 lei are added to the salary from the ASF.
• Elena Doina Daskalu, the first vice-president of ASF, declared revenues of 829,138 lei in 2022, an increase compared to 2021 (713,489 lei)
• Christian Rochu, Vice President of Insurance, declared a salary of 761,259 lei last year, which is more than in 2021 (658,079 lei)
• Gabriel Gradinescu, the vice president, declared a salary of 746,374 lei in 2022 against 665,260 lei in 2021.
• Stefan Daniel Armenianu, the vice president, declared a salary of 760,486 lei in 2022 against 656,775 lei in 2021.

Non-executive members of the board of directors, respectively Jozef Birtalan, Ioan Gheorghe Sara, Aura Gabriela Sokol, Ovidiu Razvan Vlassopol, received 422,700 lei, 419,174 lei and 422,958 lei, respectively.

• Read also: ‘I don’t want to comment, it seems a bit biased’: ASF chief asked about honorable retirement and performance bonuses after City and Euroins bankruptcies