The Romanian Financial Supervisory Authority (ASF) recently appointed a new non-executive member to its board. Gabriela Boca acknowledges in her short hearing by the Romanian Parliament that she knows nothing about Financial Regulation or about the Supervisory Authority, isn’t aware of what her role might be and that she goes there to learn. The branch manager of a Romanian bank also seems to have no apparent knowledge regarding capital markets or the insurance industry. She also did not respond to the question of conflicts of interest.
BETTER FINANCE alerted ESMA regarding this shocking process and calls for a stricter oversight of appointments to financial supervisory authorities and the convergence of their governance at European level.
You can find the full 10 minutes hearing here (in Romanian, with English subtitles).