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March 24, 2023

Misu Negritoiu officially takes over at ASF

Former ING Bank chairman Misu Negritoiu started his mandate of president of the Financial Supervisory Authority (ASF) on May 1, an institution that, according to zf.ro, monitors markets of EUR 20 billion, becoming the second most influent person on financial markets after Mugur Isarescu, governor of the central bank.  The expectancies of the market from their new leader are high: restructuring and making the institution more credible, keeping the wages under control and selecting employees under professional criteria, but also solving some major cases, such as the situation at Astra, under special administration, but also the entire insurance market about which the current members of the Authority said “the situation of irregularities is gangrenous.” The major players on the capital market expect the new ASF president to get involved in lifting the eight barriers that keep the development of the stock exchange at bay and to promote it into the league of emergent markets. Another issue of the capital market is the protection of small investors. ASF officially entered its second year of activity. The ruling structure is completely different from the one the institution started in the spring of 2013.

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