Financial Supervisory Authority Chairman Approved For New Term

The current chairman of Romania’s Financial Supervisory Authority (ASF), Leonardo Badea, was approved for a second term in office by the Parliament’s combined committees for budget and economic policy on Monday.

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Badea was reconfirmed in office with 39 votes for, 21 against and one abstention, following weeks of uncertainty on whether he will be supported by his own Social Democrat Party (PSD) for a new term, after rumors appeared that former Finance Minister Viorel Stefan was preferred by party leadership.

The ASF chairman’s new term will have to be confirmed in a common meeting of the combined parliament chambers on Wednesday.

The committee meeting was supposed to take place last Tuesday, but PSD leader Liviu Dragnea announced that it will be postponed until this week, so the party will discuss its support for Badea.

The Lower Chamber chairman said that, while he supported Stefan, executive committee members raised concerns over the fact that Badea was promised support for the full-time office last year, when he resigned his position as MP to serve as chairman of the body.

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