Core Tools
Infrastructure
Product previews
From zero to regulator-ready
See how ComplyBridge walks you through a full MiCA CASP application — from entity setup to final submission package.
See how it works →The only AI that knows your firm
Reasons across the live EU rulebook and your own policies, KYB data, UBOs, and integrations.
Explore capabilities →Romania · EU member
Financial Supervisory Authority (Romania)
ASF · Financial supervisory authorityMeasured
Employees
493
· approved posts — FY2024 (AR2025 not yet published)FY2024
Annual budget
≈€45.0M
· total expenditure — FY2024 (AR2025 not yet published)FY2024
Supervised entities
~85
· capital-markets firms — FY2024 (three-sector authority: insurance and pensions additional)FY2024
Overview
Romania's Autoritatea de Supraveghere Financiară supervises the non-banking financial sector — capital markets, insurance, and private pensions — and is the country's designated licensing authority for crypto-asset service providers under MiCA, per Emergency Ordinance 10/2025 in force since 13 March 2025. Romania's full national implementing framework for MiCA authorisations was still pending in mid-2026, so no Romanian CASP appears in the ESMA register as of July 2026; from the EU-wide end of the transitional period on 1 July 2026, providers serving Romanian clients require a MiCA licence obtained in an EU member state. Meanwhile the capital market ASF oversees has grown sharply: active investment accounts rose from 15,726 in March 2019 to 148,491 in March 2026, and the BET index gained about 46% in 2025. Everything below is ASF's own data, from its official publications.
Regulated sectors
Leadership
- Alexandru PetrescuPresident · since December 2023
- Gabriel-Ioan AvrămescuFirst Vice-President, coordinator of the capital-markets sector · since December 2023
Figures as published by Financial Supervisory Authority (Romania) for FY2024. Source: ASF Raport Anual 2024 (Romanian) (FY2025 annual report not yet published as of 3 Aug 2026). Data as of 31 December 2024.
Organisation (FY2024)
| Item | Value |
|---|---|
| Approved staff posts | 493 FY2024 — AR2025 not yet published |
| Personnel costs | RON 154.3M ≈ €29.4M FY2024 — 65% of total spend |
| Total expenditure | ≈€45.0M FY2024 — total spend across all functions |
| Revenues | RON 243.0M ≈ €46.3M FY2024 — ASF is fully industry-funded |
| Three-sector assets under supervision | RON 236.9bn FY2024 — capital markets + insurance + private pensions combined |
| Sanctions | 200 sanctions · RON 2.55M in fines FY2024 |
| Pillar II participants | 8.29M FY2024 — mandatory private pension pillar |
Crypto / MiCA
| Item | Value |
|---|---|
| MiCA designation | OUG 10/2025, in force 13 March 2025 ASF designated Romania's principal CASP authority; draft secondary / implementing framework in public consultation through 2025–2026 |
| Romanian CASPs in ESMA register | 0 (July 2026) National implementing framework pending; authorisation intake not yet open — timeline fact, not an activity measure |
| EU transitional period end | 1 July 2026 Unlicensed providers may no longer serve EU/Romanian clients; ~600,000 Romanian crypto users affected per press coverage |
Capital markets 2025–2026
| Item | Value |
|---|---|
| Active investment accounts | 148,491 (Mar 2026) Up from 15,726 in March 2019 — ASF President's own figures |
| BET index 2025 | ~+46% (BET-TR >+55%) ASF President's own figures |
| Market capitalisation | 12.4% of GDP (Q2 2025) vs EU average 67.9% (EC country report figures cited by ASF) |
Notable 2025–2026
| Item | Value |
|---|---|
| MiCA designation vs authorisation intake | Romania designated ASF as its MiCA CASP authority in March 2025 (OUG 10/2025); the full implementing framework was still in progress at the 1 July 2026 EU transitional cut-off, so authorisation intake had not yet opened — Romanian users of unlicensed platforms transitioned to EU-licensed providers. |
| Retail capital market | Has nearly ten-folded in seven years by account count. |
| Strategic projects in flight | A central counterparty (CCP) and a growth market for SME listings. |
| 2026 priority | ASF leadership has publicly framed 2026 as the year to complete crypto-asset regulation. |
Key legislation
Ordonanța de Urgență 93/2012 privind ASF
ASF founding statute (merged CNVM, CSA, CSSPP)
Legea nr. 24/2017 privind emitenții de instrumente financiare
Issuers Act
Legea nr. 237/2015 privind autorizarea și supravegherea activității de asigurare
Insurance Act
OUG 10/2025
MiCA implementation — ASF designated CASP competent authority; implementing framework in progress
Public registers
Application portals
Recent publications
- ASF annual reports page
2026-08-01