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.
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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.
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This marks the first such authorization under the new regulations for a payment institution in Romania, allowing for the acceptance of payment operations both online and in physical locations.
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KPMG Legal – Toncescu și Asociații, the Romanian law firm affiliated with KPMG in Romania, is pleased to announce the promotion of four of its counsels to Partner: Cristina Roșu, Irina Stănică, Dragoș Iamandoiu, and Călin Dragoman. This well-deserved recognition reflects their dedication and outstanding contributions to the firm’s success. With these promotions, KPMG Legal now has a team of eight partners, including Laura Toncescu (Head of KPMG Legal – Toncescu și Asociațiii), Nicoleta Mihai, Sebastian Olteanu and Alexandru Mocănescu. This expansion further enhances the firm's leadership and ability to deliver top-tier legal services.
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KPMG Legal Newsflashes

Vasile Țiple joins KPMG Legal - Toncescu si Asociatii
13 June 2024
Amendments brought to Law 241/2005 for preventing and fighting tax evasion
13 May 2024
The Romanian State's First Green Bonds Issuance and the Perspective of European Green Bonds
26 March 2024
Enhanced powers for the Romanian Competition Council to protect markets, consumers and ultimately competition
13 December 2023
Romania formally extends FDI screening to EU investors
11 December 2023
Romania transposes the Mobility Directive, aligning the national legislation with EU directions on cross-border conversions, mergers and divisions.
31 July 2023
EBA issues Guidelines on the role and responsibilities of the AML/CFT compliance officer
23 June 2022
Comitetul de audit al EIP trebuie sa includa cel putin un auditor financiar
22 June 2022
Modificarea si completarea unor acte normative din domeniul facilitatilor fiscale
21 June 2022
Ordonanta de urgenta nr. 73/2022 pentru completarea Ordonantei de urgenta a Guvernului nr. 132/2020 privind masuri de sprijin destinate salariatilor si angajatorilor in contextul situatiei epidemiologice determinate de raspandirea coronavirusului SARS-CoV-2, precum si pentru stimularea cresterii ocuparii fortei de munca
02 June 2022
Price adjustment of public procurement contracts financed by non-reimbursable external funds
17 May 2022
Furnizorii de utilitati si institutiile publice vor trebui sa accepte si plata online, cu cardul
16 May 2022
Ajustarea preturilor contractelor de achizitie publica – noi reglementari aplicabile
27 April 2022
Dezvoltarea infrastructurii nationale de transport
31 March 2022
Incetarea starii de alerta. Implicatii in domeniul muncii si protectiei sociale
10 March 2022
Somajul tehnic suportat din bugetul de stat a fost prelungit / Alte masuri de protectie sociala
20 January 2022
Noi modificari aduse legislatiei privind prevenirea si combaterea spalarii banilor si finantarii terorismului
04 January 2022
Noile modificari si completari aduse Legii nr. 53/2003 - Codul muncii
07 October 2021
Noile masuri adoptate de Guvern pentru protectia sociala a angajatilor si a altor categorii profesionale avand in vedere situatia epidemiologica generata de raspandirea coronavirusului SARS-CoV-2
06 October 2021
Noi reglementari privind utilizarea semnaturii electronice la incheierea contractelor individuale de munca
11 May 2021
Noi modificari aduse legislatiei privind prevenirea si combaterea spalarii banilor si finantarii terorismului
06 May 2021
Modificari importante in materia protectiei investitorilor
29 April 2021
Modificari importante in materia operatiunilor de leasing
20 April 2021
Measures adopted to prevent and control the effects of the COVID-19 pandemic in the context of the state of alert
20 May 2020
New regulations applicable to companies on the convocation and carrying out of general meetings by correspondence or by distance communication
18 May 2019