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    Emergency Ordinance no. 78/2013 for completing the Government Emergency Ordinance no. 93/2012 on the establishment, organization and functioning of the Financial Supervision Authority
Emergency Ordinance no. 78/2013 for completing the Government Emergency Ordinance no. 93/2012 on the establishment, organization and functioning of the Financial Supervision Authority

(Published in the Official Gazette, Part I no. 391 of 29/06/2013).

Considering that, in its capacity as a Member State with full rights of the European Union, Romania has the task of transposing and implementing the directives issued by the European Union,

in order to transpose art. 4 of Directive 2010/78 / EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26 / EC, 2002/87 / EC, 2003/6 / EC, 2003/41 / EC, 2003/71 / EC EC, 2004/39 / EC, 2004/109 / EC, 2005/60 / EC, 2006/48 / EC, 2006/49 / EC and 2009/65 / EC as regards the powers of the European Supervisory Authority (European Banking Authority) , of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and of the European Supervisory Authority (European Securities and Markets Authority), published in the Official Journal of the European Union, L series, no. 331 of 15 December 2010,

with a view to achieving a harmonized approach to cooperation with the European Insurance and Occupational Pensions Authority (EIOPA) at European Union level,

in order to prevent the negative consequences of not urgently promoting this normative act, taking into account the provisions of art. 13 "Transposition" of Directive 2010/78 / EU, Member States must adopt the laws, regulations and administrative provisions necessary to transpose the provisions of the Directive by 31 December 2011 and communicate to the European Commission the texts of the main provisions of national law which they adopt in the field of the directive.

It is necessary to adopt this Government Emergency Ordinance as a matter of urgency, given that an action has been taken not to disclose transposition measures (Case 2012/0126).

Stage I of the pre-litigation phase (delay) was initiated on 30 January 2012, with a response deadline of 30 March 2012, and if the acts ensuring the completion of the transposition of the Directive are not adopted and notified to the European Commission with the full transposition declaration , will move to the reasoned opinion phase.

We point out that the infringement of European law occurs where, on the expiry of the procedural time limit for reply within two months of the transmission of the reasoned opinion, the Member States have not yet adopted national legislative transposition measures, regardless of whether they comply during the contentious procedure.

Pursuant to art. 260 para. (3) of the TFEU, in the situation of notifying the CJEU for non-communication of the measures transposing the directives, the Court may impose pecuniary sanctions even by the judgment by which it finds the non-fulfillment of the obligations.

Considering the fact that these are extraordinary situations whose regulation cannot be postponed,

pursuant to art. 115 para. (4) of the Romanian Constitution, republished,

The Government of Romania adopts this emergency ordinance.

Unique article. - Government Emergency Ordinance no. 93/2012 on the establishment, organization and functioning of the Financial Supervision Authority, published in the Official Gazette of Romania, Part I, no. 874 of December 21, 2012, approved with amendments and completions by Law no. 113/2013, with subsequent amendments and completions, shall be completed as follows:

1. In Article 3, a new paragraph 2 is inserted after paragraph 1, with the following wording:

"2. In cooperation with the European Insurance and Occupational Pensions Authority (EIOPA), the A.S.F. shall have the following obligations:

a) to ensure the fulfillment of its obligations as a competent authority according to Regulation (EU) no. 1,094 / 2010 of the European Parliament and of the Council of 24 November 2010 establishing the European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision no. 716/2009 / EC and repealing Commission Decision 2009/79 / EC;

b) to provide EIOPA with all necessary information concerning the Member States in which the entities falling within its area of ​​authorization, regulation and supervision operate;

c) immediately inform EIOPA when granting prior authorization to operate an entity, in the case of cross-border activity;

d) to immediately notify EIOPA of the reasoned decision to prohibit the activities of an entity, taken in accordance with its competence;

e) to report to EIOPA the national provisions of a prudential nature relevant to the field of private pensions, which are not included in the labor and social protection legislation, and to ensure that this information is updated at least every 2 years;

e) to report to EIOPA the national provisions of a prudential nature relevant to the field of private pensions, which are not included in the labor and social protection legislation, and to ensure that this information is updated at least every 2 years;

f) to inform EIOPA and the European Commission of any major difficulties encountered in the exercise of its activities, governed by national rules harmonized with European Union law. "

 

2. The following is inserted after Article 29 concerning the transposition of Community rules:

"*

This emergency ordinance transposes the provisions of art. 4 of Directive 2010/78 / EU of the European Parliament and of the Council of 24 November 2010 amending Directives 98/26 / EC, 2002/87 / EC, 2003/6 / EC, 2003/41 / EC, 2003/71 / EC EC, 2004/39 / EC, 2004/109 / EC, 2005/60 / EC, 2006/48 / EC, 2006/49 / EC and 2009/65 / EC as regards the powers of the European Supervisory Authority (European Banking Authority) , of the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and of the European Supervisory Authority (European Securities and Markets Authority), published in the Official Journal of the European Union, L series, no. 331 of December 15, 2010. "

 

PRIME MINISTER

VICTOR-VIOREL PONTA

Countersign:

Minister of Labor, Family, Social Protection and the Elderly,

Mariana Câmpeanu

Minister Delegate for Social Dialogue,

Adriana Doina Pană

Deputy Prime Minister, Minister of Public Finance,

Daniel Chiţoiu

p. The Minister Delegate for the Budget,

Enache Jiru,

State Secretary

Minister of Foreign Affairs,

Titus Corlăţean

Bucharest, June 26, 2013

Nr. 78


16/02/2021
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