After more than four years of drafts and negotiations, the new EU data protection framework has finally been adopted. It takes the form of a General Data Protection Regulation (the “GDPR”)1 and a Data Protection Directive for Police and Criminal Justice Authorities (the “PCJA Directive”)2,…
The law regarding the recovery and resolution of insurance undertakings (the “IRR Law”) was published with the Official Gazette on 02 November 2015 and entered into force on 05 November 2015. In a nutshell, the IRR Law is meant to implement principles and tools similar…
On 12 January 2016, the European Court of Human Rights (the “Court”) ruled that that there had not been a violation of Article 8 of the Convention for the Protection of Human Rights and Fundamental Freedoms protecting the individual’s private life in case of an…
Leroy şi Asociaţii is the exclusive legal advisor to LACTALIS on the acquisition of ALBALACT, the largest Romanian dairy producer. This is the first significant voluntary takeover bid to be carried out on the Bucharest Stock Exchange. Leroy şi Asociaţii is advising LACTALIS on all…
Currently this article is only available in Romanian. Click here to read the full brief
Currently this article is only available in Romanian. Click here to read the full brief
Law no. 304/2015 on mortgage bonds (the “Law”) was published with the Official Gazette on 4 December 2015 and will enter into force within 90 days as of its publication. (more…)
On 03 December 2015, Romania’s President has promulgated the law regarding the recovery and resolution of credit institutions and investment firms (the “BRR Law”), transposing the Bank Recovery and Resolution Directive (the “BRRD”). The BRR Law is now pending publication with the Official Gazette and…
As part of Lawyer Monthly’s Europe Special Report, we turn our attention to the laws and issues surrounding competition and antitrust in Romania. To this end, we speak to Bruno Leroy and Eleonora Udroiu from Leroy și Asociații, one of Romania’s leading independent law firms.…
On 25 June 2015, the Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“4th AML Directive“) entered into force,…
On 16 June 2015, the Law No. 152/2015 amending and supplementing the legislation regarding the registration with the trade registry (“Law No. 152/2015”) has been announced and is pending publication with the Official Gazette. The Law No. 152/2015 transposes the Directive 2012/17/EU of the European…
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…
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…
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…
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. (more…)
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. (more…)
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. (more…)