Bucharest, 8 July 2024 – Earlier this month, the Financial Supervisory Authority (ASF) submitted to the Ministry of Finance the revised form of the draft law for amending and supplementing Law no. 24/2017 on issuers of financial instruments and market operations, approved by the Authority's Council in the meeting of 11 June 2024. The document can be consulted on the ASF website– www.asfromania.ro.
Before being approved by the ASF Council, the draft law was in public consultation, a public debate was held at the Ministry of Finance (MF), numerous working meetings were held with the associations and the Authority analysed all the comments received.
The draft law will go through the process of endorsement and approval by the Government and then parliamentary debate. It may be subject to amendments and additions, as appropriate, during the MF’s endorsement and approval process.
This legislative initiative aims to transpose into national law two European directives and to fulfill some of the objectives of the National Strategy for the development of the Romanian capital market for the period 2023-2026, representing a crucial step for the consolidation of the Romanian capital market.
Among the most important amendments and additions to the legislation on issuers of financial instruments and market operations are:
Simplification of procedures and reduction of the time needed to raise capital
Enforcement of a judgment annulling or declaring nullity
Maintaining the obligation to prepare and publish the quarterly report
The text of the revised draft law can be found here (in Romanian)
www.asfromania.ro uses cookies to personalize and improve your experience on our website. Before continuing to browse www.asfromania.ro, please take the time to read and understand the content of the Cookie Policy. By continuing to browse our website you confirm your acceptance of the use of cookies according to the Cookie Policy.