The Financial Oversight Authority will be left with just 11 members, after the Parliamentary Commission of Budget-Finances and Economics in the Senate and the Chamber of Deputies yesterday fast forwarded through hearing and validating the new competition, following the decision of the Government to drop 6 of the 17 members.
The team of non-executive members thus remains unchanged, made up of Dan Radu Ruşanu - president, Daniel Dăianu - first-vice-president, Tudor Daniel George - vice-president, Mircea Ursache - vice-president, Ion Giurescu - vice-president.
Mircea Ursache was not present at the hearings in the Parliament yesterday, as he was attending a meeting of the International Organization of Securities Regulators (IOSCO), on behalf of the ASF.
The six non-executive members are Marian Sârbu, Albin Biro, Marian Mârzac, Corneliu Moldoveanu, Gheorghe Marcu and Dorina Teodora Mihăilescu.
The joint chambers of the Parliament are set to vote today on the structure of the ASF, even though some voices in the market claim that not all the members meet the requirement of ten years of experience on the financial market, imposed by the Government through the ordinance which amended the law for the creation of the ASF.
It would seem that the UDMR was the only party which changed the person it was backing, as Lorand Kralik, who was a member of the ASF, was replaced with Albin Biro, former member of the CSA.
The amendment of the legislation of the Financial Oversight Authority and the selection of its management based on professional criteria represents a requirement of the IMF, which has also requested a better definition of the conflict of interest, as both obligations are included in the letter of intention addressed to Washington.
It is unclear however, who will verify whether the MPs did their job well in selecting the members of
