ROMANIA - The private pensions regulator of Romania, the CSSPP, has fined more than a third of the country's private pension brokers.
CSSPP said the firms were issued with the penalties for a lack of data and failing to report activity on time.
It is understood the fines ranged from between 3% and 5% of the broker's share capital - 5% being the highest penalty allowed to be imposed by law.
Anne's Broker de Pensii Private and Intermanagement Broker de Pensii Private both received the maximum penalty.
The regulator had also issued written warnings to five other brokers and left one without a license.
It said this was the biggest collective sanction to be enforced since it was founded in November 2005.
There are currently 62 pension brokers in the Romanian market, 16 of which are inactive.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers