On 26 June 2015, Law no. 151/2015 regarding the insolvency of individuals (the “Law”) was published with the Official Gazette. The Law sets forth the legal framework for a collective procedure aimed at supporting the financial recovery of good-faith individuals, by means of covering their liabilities to the largest extent possible and having access to

On 11 June 2015, a draft law regarding the recovery and resolution of credit institutions and investment firms, and for amending and completing certain enactments in the financial field (the “Draft Law”), transposing the Bank Recovery and Resolution Directive (the “BRRD”), was published for public consultation on the web-site of the Romanian Ministry of Public

On 2 June 2015, the Law no. 120/2015 on encouraging individual investors – business angels (“Business Angels’ Law”) was published with the Official Gazette. Click here to read the full brief

On 18 March 2015, the Romanian Parliament passed the law on alternative investment fund managers (“AIFM law”)1, which transposes EU Directive 2011/61 on Alternative Investment Fund Managers (“AIFMD”)2 into Romanian legislation. Click here to read the full brief

The Romanian Parliament has recently passed Law no. 12/2015 for the modification and supplementation of Law no. 53/2003 – the Romanian Labour Code (“Law 12/2015”). Law 12/2015 was published in the Romanian Official Gazette, Section 1, No. 52/22.01.2015 and will enter into force on January 25, 2015. Click here to read the full brief

On 30 December 2014, Government Emergency Ordinance no. 90/2014 (“GEO no.90/2014”) amending Law no. 297/2004 on capital markets (“Romanian Capital Market Law”) was published with the Official Gazette. The provisions of GEO no. 90/2014 have entered into force on 9 January 2015.

The Romanian Parliament has recently adopted Law no. 127/2014 amending and supplementing the Electricity and Natural Gas Law no. 123/2012 and the Petroleum Law no. 238/2004.