Romania – Consumer protection updates in the sale of goods field

1. Background In May 2019, the European Parliament and the Council of the European Union have enacted Directive (EU) 2019/771 on certain aspects concerning contracts for the sale of goods, amending Regulation (EU) 2017/2394 and Directive 2009/22/EC and repealing Directive… Read moreRomania – Consumer protection updates in the sale of goods field

New regulation for the authorization of credit institutions – amendments approval and notification

1. Introduction In follow-up to our summary regarding the preliminary evaluation for the banks’ authorisation, as detailed in Regulation no. 12/2020 on the authorization of credit institutions and amendments pertaining to the same (“Regulation 12/2020”), and our summary regarding the… Read moreNew regulation for the authorization of credit institutions – amendments approval and notification

New regulation for the authorization of credit institutions – banks’ authorization procedure

1. Introduction In follow-up to our summary regarding the preliminary evaluation for the banks’ authorisation, as detailed in Regulation no. 12/2020 on the authorization of credit institutions and amendments pertaining to the same (“Regulation 12/2020”), we will shortly review below… Read moreNew regulation for the authorization of credit institutions – banks’ authorization procedure

New regulation for the authorization of credit institutions – preliminary requirements for authorization

1. Introduction Regulation no. 12 of December 18, 2020 on the authorization of credit institutions and amendments pertaining to the same (the “Regulation 12/2020”) issued by the National Bank of Romania (the “NBR”) was published in the Official Gazette no…. Read moreNew regulation for the authorization of credit institutions – preliminary requirements for authorization

How to keep your data safe in the new digital employment environment

1. Introduction Using the digital environment for work related activities entails risks that are enhanced by the continuous digitisation of the society. Such risks include an increase in the number of cyberattacks that can lead to security breaches, including personal… Read moreHow to keep your data safe in the new digital employment environment

Shedding light on the convening term applicable for limited liability companies

As regards Romanian limited liability companies, the convening of the general assembly of shareholders is done in accordance with the articles of association or as provided under Romanian Companies Law 30/1991 (the ”Companies Law”), specifically through registered letter at least… Read moreShedding light on the convening term applicable for limited liability companies

Romania – Consumer protection updates in the Audio-Visual media field

1. Background In November 2018, the European Parliament and the Council of the European Union have enacted the Directive (EU) 2018/1808 amending Directive 2010/13/EU on the coordination on certain provisions laid down by law, regulation or administration in Member States… Read moreRomania – Consumer protection updates in the Audio-Visual media field