KPMG Legal

Modification of Law 24/2017: Consolidating the legal framework to accelerate the development of the capital market.

On March 15, 2025, significant amendments and additions to Law no. 24/2017 on issuers of financial instruments and market operations (introduced by Law no. 11/2025) came into force, aimed at strengthening the capital market in Romania, thus creating the premises for scaling up the number of listed companies, investors, and financing operations.

• 18 March 2025

KPMG Legal – Toncescu și Asociații assisted LDC Group in the acquisition of the majority stake in Calibra M&D Impex SRL

This transaction marked the entry onto the Romanian market of LDC Group, by means of its Hungarian holding, LDC Tranzit Holding ZRT, in view of operating and expanding the production and processing of poultry business of Calibra M&D Impex in Hunedoara area.

• 4 December 2024

Draft amendment to Emergency Ordinance no. 99/2006: Banks will be able to issue crypto-assets and provide crypto-asset services.

The Romanian Government, through the Ministry of Finance, has launched a draft law for public consultation aimed at amending and supplementing Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy. The main goal is to incorporate into national legislation the amendments to Directive 2013/36/EU introduced by Regulation (EU) 2023/1114 on crypto-asset markets (MiCA Regulation). It should be noted that Romania must implement these changes by December 30, 2024, to comply with the MiCA Regulation requirements.

• 31 October 2024

Erga omnes extension of the collective labor contract signed at the collective negotiating sector level: Category 40. Banking Activities.

According to a press release issued by the Ministry of Labor, as a result of discussions within the National Tripartite Council for Social Dialogue, the provisions of the Collective Labor Agreement have been extended to the entire banking sector in Romania, as they have become applicable to all banking entities. It is our understanding from this press release that approximately 45,000 employees in the sector will benefit from this extension, marking a first in the field of social dialogue.

• 30 October 2024

Modification of Law 24/2017: Consolidating the legal framework to accelerate the development of the capital market.

KPMG Legal – Toncescu și Asociații assisted LDC Group in the acquisition of the majority stake in Calibra M&D Impex SRL

Draft amendment to Emergency Ordinance no. 99/2006: Banks will be able to issue crypto-assets and provide crypto-asset services.

Erga omnes extension of the collective labor contract signed at the collective negotiating sector level: Category 40. Banking Activities.

KPMG Legal Newsflashes