Legal Bulletin - ECJ Ruling on the Register of Beneficial Owners

The European Court of Justice (“ECJ”) was called to render a preliminary ruling on the compatibility between Article 30 par. (5) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“AMLD IV”) which grants free access to information in the Register of beneficial owners to any member of the general public and the provisions of the Charter of Fundamental Rights of the European Union concerning respect for private and family life (Article 7) and protection of personal data (Article 8). Article 30 par. (5) of AMLD IV initially provided that access to the Register of beneficial owners is granted to any person or organisation that can demonstrate a legitimate interest. This provision was later amended by…Read More →

Legal Bulletin - Commercial Law

Law No. 265/2022 on the trade register and for amending and supplementing other normative acts with impact on the registration in the trade register (“Law No. 265/2022”) was published in the Official Journal of Romania No. 750, Part I, of 26 July 2022. Law No. 265/2022 entered into force on 26 November 2022. Relevant highlights: • The mandatory content of the new articles of association; • The companies’ name; • The simplification of the procedure for registration of companies in the trade register; • Registration of companies by exclusively electronic procedures; • The procedure of registration in the trade register based on the legality control carried out by the trade register’s registrar; • The introduction of the Electronic Bulletin of the Trade Register; • The opposability of the registration and…Read More →

Legal Bulletin - Gambling Law

Government Ordinance No. 15/2022 amending and supplementing Government Emergency Ordinance No. 77/2009 on the organisation and operation of gambling activities has entered into force on 18 July 2022, save for a provision regarding the administrative offences which shall be effective starting with 14 August 2022. The GO No. 15/2022 has a significant impact on the gambling industry, as it regulates stricter rules for existing and new players in the industry, mainly by increasing the applicable gambling fees and imposing new obligations related to advertising of gambling activities. Also, pursuant to GO No. 16/2022 amending and supplementing Law No. 227/2015 on the Fiscal Code and repealing certain normative acts and other fiscal-financial measures, the Romanian Government has increased the level of taxation of the players’ income from gambling activities. Relevant highlights:…Read More →

Fiscal Bulletin - Important amendments brought to the Fiscal Code

Legal Bulletin - Commercial Law - Preventing and Combating Money Laundering

Legal Bulletin - Consumer Protection - The “New Deal for Consumers” Initiative

Legal Bulletin - Competition Law - Unfair trading practices in business-to-business relationships in the agricultural and food supply chain

Fiscal Bulletin - CJEU Ruling on the Concept of Fixed Establishment for VAT Purposes

Fiscal Bulletin - Humanitarian and assistance measures in the context of the military conflict on the territory of Ukraine

Legal Bulletin - AML/CFT rules in Gambling Sector