OTP Garancia, warned by the Romanian pensions regulator
ROMANIA. Voluntary private pensions (3rd pillar) company OTP Garancia,
part of GROUPAMA group, received a written warning by CSSPP, Romania's
private pensions regulator, for various reporting / marketing errors
that came out after a control action by CSSPP at Garancia's
headquarters in Bucharest. Also, three marketing agents were also
warned in the same way, with a written warning, for delaying the
submission of some adhesion papers to the headquarters of the company
for more than 5 days - the legal period.
This is the second warning for pension companies in the last few day,
after the written warning received last week by Romanian mandatory
pension company (2nd pillar) BT AEGON and three of its marketing
agents, for miss-selling practices.
01.09.2008
