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.

On 6 October 2014, the Ministry of Public Finance launched for public debate a draft law amending and supplementing Law no. 297/2004 on capital market.

On 30 September 2014, the Romanian Chamber of Deputies adopted a law intended to clarify the legal status of shares traded on the Rasdaq market and the unlisted securities market.

Government Ordinance no. 12/2014 has recently amended the main Romanian legal enactment on unfair competition – Law no. 11/1991. The scope of these amendments covers the content of the prohibited unfair competition practices, as well as a more precise regulation of the Competition Council’s role in sanctioning such practices.