Financial Supervisory Authority criticizes the restructuring measures of the institution, proposed by the Government
Articol de Radiojurnal, 22 August 2025, 17:33
The Financial Supervisory Authority criticizes the restructuring measures proposed by the Government, through which the institution would undergo staff and salary cuts.
According to the FSA, the initiative will lead to problems in the functioning of the authority and to the depreciation of the act of supervising the insurance and capital markets and private pensions.
The restructuring measures are imposed in the context of the Government's effort to reduce the budget deficit, but without resulting in the improvement of macroeconomic indicators, states the Financial Supervisory Authority, in a statement in which it specifies that the FSA does not use financial resources from the state budget.
Furthermore, the FSA is a contributor to the budget, transferring contributions worth over 53 million lei in 2024, and this year the contribution will be even higher, up to 85 million lei.
The staff reduction, says the FSA, will affect the authority's ability to ensure the stability of the non-banking financial system, while the decrease in salaries will have consequences mainly on specialists, that is, precisely that professional category that has accumulated over the years the expertise necessary to manage the insurance or capital market.
On Monday, the Government proposed job cuts and a 30% decrease in salaries at the Financial Supervisory Authority, the Energy Regulatory Authority and the telecommunications market arbitrator.
The managements of the three institutions must present a new organizational chart and a new salary scale by September 30, including bosses who would receive lower salaries.
Translated by: Radu Matei
