On 16 March 2020, the Romanian President declared a state of emergency for the next 30 days to limit the spread of COVID-19 and manage its effects (the “State Emergency Decree”). Neither the State Emergency Decree, nor the subsequent military… Read moreRomania Guidance for Public Procurement procedures in times of COVID-19
In a further attempt to mitigate the effects of the COVID-19 outbreak, Romanian Competition Council (RCC) issued a press release providing further guidance on business practices for companies during the COVID-19 pandemic (see here for our reporting on the first guidance)…. Read moreRomanian competition watchdog issues new guidance on cooperation during the crisis
Following the state of emergency declared in Romania on 16 March 2020 and the escalation of security measures which were recently enforced through additional military ordinances, Romanian authorities tighten control over companies still active on the market as they continue… Read moreRomanian authorities tighten controls over companies in the wake of COVID-19 crisis
As reported earlier this year, the Romanian Financial Services Authority (the “FSA”) indicated that, in the event of a hard Brexit, UK entities operating in the non-banking financial markets will no longer be authorised to carry out regulated activities in… Read moreRomanian Financial Services Authority turns its attention to a post-Brexit scenario
As we reported previously, at the end of 2018, the Romanian Financial Supervisory Authority (the “FSA”) issued Norm no. 19/2018 on insurance distribution (“Norm 19”). Norm 19 introduced a number of restrictions on distribution of insurance on a FOS basis… Read moreRomania to relax restrictions on insurance distribution on a FOS basis
On 5 November 2019, the National Franchise Register (the “Register“) was set up. The purpose of the Register is to provide more visibility on franchise businesses and advise potential franchisees on the reliability of the potential franchisor and the key… Read moreRomanian Franchise Registry – a way towards transparency?
On 20 March 2019, the Romanian Financial Supervisory Authority (the “FSA”) formally clarified its position on the fate of UK entities acting in the non-banking financial services market in Romania in the event of a ‘no-deal’ Brexit. In a nutshell,… Read moreRomania: Financial Supervisory Authority’s position on ‘no-deal’ Brexit