Author: Florentin Giurgea

On 10 January 2023, Financial Supervisory Authority (FSA) Regulation no. 18/2022 amending and supplementing FSA Regulation no. 13/2019 on prevention and combating of money laundering (ML) and terrorism financing (TF) was published in the Official Gazette. The new Regulation will… Read moreRomanian regulation brings greater clarity to the AML legal framework in the financial sector

In the context of the continuing conflict in Ukraine, on 16 December the EU Council adopted a new package of sanctions covering bans and restrictions on certain activities, and sanctions against certain natural and legal persons. This ninth package of… Read moreEU issues new measures against Russia

The Romanian Competition Council (RCC) finalised two major investigations in the insurance and a related sector and issued fines totalling EUR 29m. The fines were announced on 27 and 28 December, respectively. After the first investigation, the RCC sanctioned three… Read moreCompetition probes in Romanian insurance sector lead to fines of EUR 29m

On 20 December, the European Insurance and Occupational Pensions Authority (EIOPA) released the annual report on sanctions imposed by national competent authorities under the Insurance Distribution Directive (IDD) in 2021. According to the Report, in 2021 national competent authorities (NCAs)… Read moreEIOPA releases annual report on sanctions under IDD in 2021