Petition Handling

SAI Erste Asset Management S.A. (SAI Erste) makes this document permanently available both at the company’s headquarters and on the official website.

 

Definitions

Petition means a request, complaint or notification advising SAI Erste Asset Management S.A. (SAI Erste) of acts which, by their nature, may prejudice the rights and interests of the petitioner, which is executed in writing and lodged at the headquarters of SAI Erste or the offices of distributors, as appropriate, submitted by post, electronic mail or via online systems, whereby the petitioner or the legal representatives thereof acting solely on behalf of the petitioner, with no personal commercial interest, expresses dissatisfaction with regard to the services and investment business conducted SAI Erste, the management of CIUs or the information provided by the company following inquiries received from petitioners.

Petitioner means an individual or legal person who is a SAI Erste client/investor and lodges a petition concerning the services and investment business conducted pursuant to GEO 32/2012 and FSA Regulation no. 9/2014.

Petition resolved in favour of the petitioner means the petition pursuant to which remedial actions have been decided.

Petition resolved against the petitioner means the petition pursuant to which no actions have been decided.

 

General  

All petitions are treated equal and there are no restrictions concerning investors exercising their rights. The persons in charge will respond to each petition using plain and simple language.

On request or when lodging a petition, petitioners are entitled to receive information in writing on the company’s petition handling process.

 

Submission and general petition handling process

Petitions can be submitted in writing and lodged at the headquarters of SAI Erste or the offices of the distributor - the Romanian Commercial Bank; petitions may be submitted by post, electronic mail or online systems.

 

Registered office_E-mail address_Identification data of the person/persons in charge with receiving petitions:

 

Petitions should provide the following information:

  • The identification data of the person lodging the petition
  • The subject of the petition (the service/investment business or information)
  • The capacity of the person lodging the petition (account holder/agent)
  • The interest of the person lodging the petition.

 

Response will be given within 30 days after registration of the petition, regardless of whether the petition is resolved in favour or against the petitioner. If the subject of the petition requires further investigation, the petitioner will be advised of the reasons for the delay/the status of the petition and response will be given within 15 days from expiry of the initial 30 day period.

 

Petitioners may request information on the status of their petition. 

Contact data:

  1. Mihnea Barbulescu – Head of Sales & Marketing Department – e-mail: mihnea.barbulescu@erste-am.ro; tel.: 0372.269.920
  2. Alina Topală – Customer Service Analyst – e-mail: alina.topala@erste-am.ro; tel.: 0372.269.925

 

If a petition is resolved against the petitioner, SAI Erste will advise the petitioner of its right to resort to competent bodies and authorities and to the amicable dispute resolution proceedings set out in the law.

 

When no response is received in the period indicated above or when the response is not satisfactory, the petitioner may resort to the following authorities:

  • Financial Supervisory Authority (FSA) – Bucureşti,Splaiul Independenţei nr. 15, sector 5, 050092, office@asfromania.ro;
  • National Authority for Consumer Protection (ANPC) - Bucureşti, Bulevardul Aviatorilor nr. 72, sector 1, office@anpc.ro.

 

Amicable dispute resolution:

Mediation means an alternative option for dispute resolution regulated by Law no.  192/2006 concerning mediation and the establishment of the mediator profession.

Arbitration means an alternative option for dispute resolution regulated by art. 541 et seq. of the New Civil Procedure Code.

 

NEW as of 19.07.2016

Entity for Alternative Solving of Litigations (SAL-FIN)

The Financial Supervisory Authority has set up SAL FIN, an entity for alternative solving of litigations which organizes and manages SAL procedures as per which solutions are being proposed or imposed (as the case may be) for the parties involved.

SAL-FIN objective is to organize the extrajudicial solving of the non banking consumers’ litigations, internal or cross border, in collaboration with experts in non banking area, in a balanced manner, reasonable time frame and with no costs for the consumers, based on the procedure chosen by the parties and may propose or impose solutions for solving the litigation.

Any investor has the right to address to SAL-FIN, as per the provisions of FSA Regulation no 4/2016 regarding the organization and functioning of the Entity for Alternative Solving of Litigations and GO 38/2015 regarding the alternative solving of the litigation between consumers and companies.

For more details about SAL-FIN please access the following link: http://www.salfin.ro/.

SAL Procedures