Romania has received the formal OECD Opinion on corporate governance

Bucharest, 9 April 2025 – Romania has received the formal opinion from the Corporate Governance Committee of the Organization for Economic Cooperation and Development (OECD), marking a milestone in the process of joining the organization.

At the session of the Corporate Governance Committee, which took place in Paris on 7-8 April, Romania was represented by Alexandru Petrescu, President of the Financial Supervisory Authority (ASF), Luca Niculescu, Secretary of State and National Coordinator for the OECD accession process, Adrian Țuțuianu, Deputy Secretary General of the Government, and Radu Hanga, President of the Bucharest Stock Exchange (BVB).

"The formal opinion in the field of corporate governance is a recognition of the progress made by Romania in the process of aligning with the G20/OECD principles on corporate governance, after two years of intense preparations. Moreover, it should be emphasized that the entire regulatory framework and practices in this area are now in line with the standards developed by the OECD", said Alexandru Petrescu, the ASF President.

During the session dedicated to Romania, the ASF team presented the measures implemented at national level to strengthen the corporate governance of listed companies. It also highlighted the progress made in the implementation of the National Strategy for the Development of the Capital Market, including the adoption of regulatory acts to simplify listing and increase secondary market liquidity.

The ASF President informed the Committee members about the legislative initiatives aimed at increasing the transparency of listed companies and about the recent amendments to the Bucharest Stock Exchange's Corporate Governance Code. The new regulations include principles on sustainability, stakeholder protection and stricter requirements for monitoring compliance of listed companies.

The favorable OECD opinion confirms the completion of the assessment process and the alignment of Romania's policies with international corporate governance requirements.

"We are committed to remain active in the implementation of the objectives of the National Strategy for the development of the Romanian capital market and to contribute to the work of the OECD Corporate Governance Committee. ASF will continue its efforts to finalize the assessment process on the alignment with the legal instruments related to the insurance market, private pension market and financial markets", added Alexandru Petrescu.

In 2024, ASF contributed, together with other institutions and partners in Romania, to the finalization of the OECD assessment process of the chapters on financial education and consumer protection of financial products.