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RLWeek November 11-17, 2019: New provisions regarding the European political parties based in Romania. Non-bank financial institutions will keep the accounting records in accordance with IFRS. New regulations regarding the activity of issuing e-money

New provisions regarding the European political parties based in Romania. In the Official Gazette no. 910 of November 11, 2019, Law no. 206/2019 regarding the establishment of measures implementing the Regulation (EU, EURATOM) no. 1.141 / 2014 of the European Parliament and of the Council of 22 October 2014 on the status and financing of European political parties and European political foundations has been published. [source]

New regulations regarding the activity of issuing e-money. In the Official Gazette no. 914 of November 13, 2019, Law no. 210/2019 regarding the activity of issuing e-money has been published.

Mostly, Law no. 210/2019 provides detailed regulation of the activity of issuing e-money and brings the legislation in accordance with the provisions of Directive (EU) 2015/2366 on the regulation, authorization and prudential supervision of institutions issuing e-money. [source]

Non-bank financial institutions will keep the accounting records in accordance with IFRS. In the Official Gazette no. 908 of November 11, 2019, Order no. 8/2019 regarding the application of International Financial Reporting Standards by non-banking financial institutions has been published

The non-banking financial institutions will keep the accounting records in accordance with the treatments provided by IFRS from January 1, 2022. From the same date, the provisions of the Accounting Regulations in accordance with the European directives cease to apply to the non-banking financial institutions. [source]

New provisions regarding the payment service activity and the prudential supervision of payment institutions. In the Official Gazette no. 913 of November 13, 2019, Law no. 209/2019 regarding payment services and for amending some normative acts has been published. [source]

Alina Gaja

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