In order to take this measure, the Financial Supervision Authority invoke the provisions of Article 7(a) of the Law no. 503/2004.
For more information, please see the Romanian version of the article, here.
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By Decision no. 901 / 18.04.2016, the FSA ordered the opening of the the procedure for financial recovery plan based on the Society of Insurance - Reinsurance City Insurance SA.
In order to take this measure, the Financial Supervision Authority invoke the provisions of Article 7(a) of the Law no. 503/2004.
For more information, please see the Romanian version of the article, here.
