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Financial Services Industry Monthly Bulletin

December 2009


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FSIWelcome to the December edition of Financial Services Industry Monthly Bulletin – a publication by Reff & Associates, correspondent law firm of Deloitte Romania and Deloitte Tax, that is designed to keep you up-to-date with the latest legal, tax and regulatory developments in the financial services industry in Romania and at international level.

Highlights in the current issue:

Romania: 

  • Banking: National Bank of Romania sets the regulatory framework regarding the reporting of liquidity indicators 
  • Capital Markets: National Securities Commission established the regulatory framework regarding the supervision of the manner under which international sanctions on capital market are implemented 
  • Insurance: Insurance Supervisory Commission issues the Norms regarding the information that insurers and insurance intermediaries should provide to customers
  • Private Pensions: Private Pension System Supervisory Commission amends the current legal framework regarding the collection of individual contributions of the participants to the private pension funds

 International: 

  • Banking: The Committee of European Banking Supervisors published on December 11th, 2009 its guidelines in relation to revised large exposures regime 
  • Insurance: European Union establishes the regulatory framework on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)

Read more in the attached Pdf. 

Previous editions:

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Contact 

Andrei Burz-Pinzaru 
Partner 
Tel: + 40 21 222 16 61