The European Commission decided on Thursday to initiate an infringement procedure by sending an official letter of formal notice to Romania and an additional letter of formal notice to Slovakia for incorrect transposition of the 4th and 5th Anti-Money Laundering Directive 2008/98/EC (4th and 5thAMLD), according to a statement issued by the EU executive.Romania and Slovakia have notified full transposition of the Directive. However, the Commission has identified several cases where the Directive has not been correctly transposed into national law. In the case of Romania, this failure affects, among other things, fundamental issues such as the existence of an effective penalty regime when incorrect data are entered in the national register of beneficial owners.Anti-money laundering regulations are essential in the fight against money laundering and terrorist financing. Legislative loopholes that occur in one Member State have an impact on the EU. EU rules should therefore be effectively implemented and supervised to fight crime and protect our financial system, says the European Commission.In the absence of satisfactory replies from Romania and Slovakia within two months, the Commission may decide to continue the infringement procedure and send a reasoned opinion.
Romanian president Nicușor Dan confirmed on August 20 that he is likely to pay an official visit to the United States early next year, provided preparations proceed as planned. A few days ago, foreign minister Oana Țoiu said that president Dan is expected to visit the United States and meet with president Donald Trump in the […]
European allies are pressing the United States to deploy F-35 fighter jets to Romania as part of future security guarantees for Ukraine, The Times reported, citing discussions among senior military officials. Romanian outlet
Romanian croissant producer Derpan SA has raised EUR 2 million through a private bond placement brokered by brokerage house Goldring SA, the company announced on August 20. The secured, euro-denominated bonds mature in 2030 and carry an annual coupon of 11%, Ziarul Financiar reported. ...
Romanian banks’ aggregated profit (EUR 752 million) and profitability ratios in Q2 remained around those seen in Q1, meaning slightly below the performance in the same period last year, according to data published by the National Bank of Romania (BNR). The non-performing loans (NPL) ratio, however, rose slightly to 2.8% at the end of June, […]
The Foreign Direct Investment Review Commission (CEISD) confirmed on August 20 that it had decided not to approve the transaction by which Hungarian state-owned MVM intends to acquire the gas and electricity supply division of E.ON Energie Romania. "Following the conclusions resulting from the detailed research procedure, CEISD decided to submit to the Supreme Council […]
Deputy prime minister Tanczos Barna stated on August 20, speaking for Digi24, that following the public administration reform included in the second package of fiscal measures, 40,000 positions in local and central administration will be abolished. The figure is not included in the substantiation note published by the Development Ministry along with the bill on […]
