Preliminary assessment of the second payment request of Romania

         supplementing Rule No. 11/2011 on the investment and valuation of assets private pension
         funds, approved by Judgment Private Pension System Supervisory Commission No. 22/2011,
         published in the Official Journal No. 130 on 8 February 2021;
  xi)    Copy of Financial Supervisory Authority rule No. 11/2011 of 15 December 2011, on the
         investment and valuation of assets private pension funds, and its amendments, as
         published in the Official Journal No. 8 on 5 January 2012;
  xii)   Copy of Financial Supervisory Authority rule No.13/2021 of 24 June 2021, amending the
         Authority’s rule Financial Supervision No 1/2015 on accession and records of participants in
         managed pension funds private, published in the Official Journal No. 711 on 19 July 2021;
 xiii)   Copy of Financial Supervisory Authority rule No.16/2021 of 24 June 2021, amending
         Financial Supervisory Authority Rule No. 26/2014 on the transfer of participants between
         privately managed pension fund, published in the Official Journal No. 695 on 14 July 2021;

 xiv)    Copy of Financial Supervisory Authority rule No.18/2021 of 24 June 2021, amending and
         supplementing Rule No. 3/2013 on the marketing of the privately managed pension fund,
         approved by Decision of the Board of Supervisors of the Private Pension Scheme No.
         5/2013, published in the Official Journal No. 730 on 26 July 2021;
  xv)    Copy of Financial Supervisory Authority rule No. 19/2021 of 29 July 2021, on reporting
         obligations; and transparency in the private pension system, published in the Official
         Journal No. 880 on 14 September 2021;
 xvi)    Copy of Financial Supervisory Authority rule No.44/2020 of 18 December 2020,
         supplementing Annex 1 to Rule of the Financial Supervisory Authority No. 1/2015 on the
         membership and record of participants in the Funds of privately managed pensions,
         published in the Official Journal No. 1332 on 31 December 2020.

The authorities also provided:
xvii)    Copy of Financial Supervisory Authority rule No. 12/2021 of 24 June 2021, amending and
         supplementing Financial Supervisory Authority Rule No. 28/2017 on the use of the net
         personal assets of the participant in a voluntary pension fund, published in the Official
         Journal No. 721 on 22 July 2021;
xviii)   Copy of Financial Supervisory Authority rule No.15/2021 of 24 June 2021, amending and
         supplementing Rule No 14/2006 on the transfer of participants between voluntary pension
         funds, approved by the judgment Private Pension System Supervisory Commission No.
         26/2006, published in the Official Journal No. 695 on 14 July 2021;
 xix)    Copy of Financial Supervisory Authority rule No.17/2021 of 24 June 2021, amending and
         supplementing Financial Supervisory Authority Rule No. 16/2013 on the marketing activity
         of the pension fund optional, approved by Decision of the Board of the Authority financial

         Supervision No. 64/2013, published in the Official Journal No. 697 on 14 July 2021;
  xx)    Copy of Financial Supervisory Authority rule No. 1/2015 of 8 January 2015, on membership
         and registration of privately managed pension fund participants, and its amendments, as
         republished in the Official Journal No. 31 on 14 January 2015;
 xxi)    Financial Supervisory Authority simulation scenario to eliminate the fee from gross
         contributions;
xxii)    Letter from the President of the Financial Supervisory Authority to the Minister of Labour

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