RLWeek January 24 – 31, 2021: EU recommendation on removing the temporary restriction on non-essential travel to the EU. Code of conduct applicable to members of the European Court of Auditors. Project to change the electronic monitoring via reporting. Amendment to the Framework Loan Agreement between Romania and the Council of Europe Development Bank

EU recommendation on removing the temporary restriction on non-essential travel to the EU Recommendation no. 89/2021 amending Recommendation (EU) 2020/912 on the temporary restriction on non-essential travel to the EU and the possible removal of this restriction is published in… Read more<strong>RLWeek</strong> January 24 – 31, 2021: EU recommendation on removing the temporary restriction on non-essential travel to the EU. Code of conduct applicable to members of the European Court of Auditors. Project to change the electronic monitoring via reporting. Amendment to the Framework Loan Agreement between Romania and the Council of Europe Development Bank

ȚUCA ZBÂRCEA & ASOCIAȚII law firm wins an arbitral dispute worth EUR 5.5 million

An irrevocable ruling handed down by the supreme court in a EUR 5.5 million arbitration ends a nine-year-long dispute whereas Țuca Zbârcea & Asociații represented a private company. The dispute arose from a contract concluded in 2007. Under such contract,… Read moreȚUCA ZBÂRCEA & ASOCIAȚII law firm wins an arbitral dispute worth EUR 5.5 million

Deloitte study: the COVID-19 crisis will accelerate the CEE banking sector consolidation; Romania had one of the largest number of banking transactions in the region

The COVID-19 crisis is expected to accelerate the consolidation of the banking sector in the Central and Eastern Europe (CEE) in the following years, as smaller players might not be able to weather the profitability and capital challenges, according to… Read moreDeloitte study: the COVID-19 crisis will accelerate the CEE banking sector consolidation; Romania had one of the largest number of banking transactions in the region

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

PwC and World Economic Forum report: Investments in upskilling would lead to the creation of 5.3 million net new jobs by 2030

Cumulative investments of governments and companies in upskilling and reskilling initiatives could boost global GDP by USD 6.5 trillion and create 5.3 million net new jobs by 2030, according to ”Upskilling for Shared Prosperity” report, launched at Davos by PwC… Read morePwC and World Economic Forum report: Investments in upskilling would lead to the creation of 5.3 million net new jobs by 2030

RLWeek January 18 – 24, 2021: Notification regarding breaching the security of personal data. Guidelines regarding amendment of public acquisition contracts. Organising the sanitary-veterinary and food safety activity. NAFA – Form 100 and Form 710 amended. Approving the centralised inventory of public domain goods. Registration procedure of units and vehicles in the animal safety field.

Notification regarding breaching the security of personal data. On Tuesday, the 19th of January 2021, the European Data Protection Board set for public debate a draft regarding Guidelines 01/2021 on Examples regarding Data Breach Notification. [source] Guidelines regarding amendment of… Read more<strong>RLWeek</strong> January 18 – 24, 2021: Notification regarding breaching the security of personal data. Guidelines regarding amendment of public acquisition contracts. Organising the sanitary-veterinary and food safety activity. NAFA – Form 100 and Form 710 amended. Approving the centralised inventory of public domain goods. Registration procedure of units and vehicles in the animal safety field.

PwC Report: M&A global activity expected to accelerate in the next six to twelve months due to abundant available capital

Global Mergers & Acquisitions activity is expected to accelerate in the next six to twelve months due to low interest rates, a desire to acquire innovative, digital or technology-enabled businesses, and an abundance of available capital in the market, according… Read morePwC Report: M&A global activity expected to accelerate in the next six to twelve months due to abundant available capital