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August 15, 2022

Misu Negritoiu was revoked by the Parliament from the position of the President of the Financial Supervisory Authority

The joint plenum of the Parliament revoked Misu Negritoiu from the position of the ASF President, with 238 “pros” and no “con”.

Senators and deputies who were present at the meeting voted in secret, with ballot papers.

President of the Financial Supervisory Authority (ASF), Misu Negritoiu, stated on Wednesday in a press conference, that he doesn’t understand the reasons for which they want to revoke him from this position, and such a decision is “illegal and questionable”, and that he prefers to be “removed by politician, rather by DNA”.

“I don’t understand even today what the reasons to revoke me are, they weren’t revealed. I had no discussion with any committee, speaker of any chamber, they didn’t tell me what are the charges against me (…) Any decision to be taken is illegal and questionable. I will follow any remedies I appreciate as appropriate, because such a decision is illegal” Negritoiu stated on Wednesday.

Being asked what he will do if a favorable vote will be expressed, the ASF President said that he will not leave.

“I don’t believe a favorable vote will be expressed. Politicians think that they can do anything, but they cannot” Negritoiu added.

PSD’s Liviu Dragnea stated on April 27 that he and the ALDE President Calin Popescu Tariceanu agreed that Misu Negritoiu must be dismissed as soon as possible from the ASF leadership, because it is an important institution that must not function as it is somebody’s “land”.

On April 18, Senate’s Permanent Bureau sent to the Joint Permanent bureaus the report of the economic and budget committees of the Deputies’ Chamber and Senate on the dismissal of the President of the Financial Supervisory Authority (ADF), Misu Negritoiu, because of the manner in which ASF managed the 2016 crisis on the RCA market.

According to the report since October 2016, Misu Negritoiu no longer fulfills the conditions provided by the law on the functioning of the ASF, which is why the parliamentary committees decided, with a majority vote (one abstention and one unexpressed vote of a parliamentarian who was in conflict of interest), to submit Negritoiu’s revocation proposal from the position of the ASF President, executive member of the Financial Supervisory Authority Council, to the plenum of the Chamber of Deputies and Senate.

Also on April 18, PNL leader Raluca Turcan stated that Misu Negritoiu must be dismissed from ASF, because the decision at the level of the institution he is leading was “politically contaminated” by PSD, and fining the NN company was executed at the political order given by Liviu Dragnea in front of everybody on the TV.

In April, ASF decided to sanction the private pension fund NN Pensii with a fine of RON 750,000, representing 1% of the fund’s share capital of RON 75 million; it was the biggest fine applied by the ASF since it was founded. ASF decided to withdraw the authorization of the General Manager Raluca Tintoiu, because of the message sent to the clients, related to the nationalization of the private pension funds.

Misu Negritoiu became ASF President on April 1, 2014, being supported by PSD, which massively voted in Parliament for his appointment. Negritoiu replaced Dan Radu Rusanu at the ASF leadership, the latter resigning from the presidency of the authority while he was arrested by the police, in March 2014, given that he was arrested for 30 days in the Carpatica – ASF case,

From May 1997 to April 2014, Negritoiu worked for ING Romania, according to his LinkedIn account. From 2010 to 2012, he was the General Manager of the bank, and between September 2012 and April 2014, he was the President of ING Bank Romania.

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