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.
Deloitte Romania assisted AQUILA, leader in the integrated distribution and logistics services for the fast-moving consumer goods market in Romania and the Republic of Moldova, in the acquisition of Romtec Europa, the company that produces car care fluids and aerosols. The transaction, valued at 3.2 million euros, was signed in December 2023 and completed recently, following approval from […]
CBRE Romania, the leader in providing commercial real estate services, launches an analysis regarding the business potential and alternative investment and development opportunities in Timiș County. According to the analysis, Timiș stands out as a vital centre of Romanian agriculture, ranking first in agricultural area with 693.034 hectares and second in organically cultivated land area. […]
By the end of 2024 the stock of modern retail spaces will overpass 4.5 mln. sq. m setting a new record for Romania. Circa 186,000 sq. m could be added to country’s modern retail stock if taking into consideration under-construction projects. The popularity of the specialized format is noticed in the forecasted developments, claiming 95% […]
The average office fit-out costs have increased by around 15-20% during the past 12 months, but they still remain among the lowest in the Central and Eastern Europe (CEE), according to data from the Cushman & Wakefield Echinox real estate consultancy company. With an average level of €943 per sq. m of office space, the […]
Romania is present at the 10th edition of the EU-Startups Summit in Malta, the biggest event for tech startups in Europe, through RoTechMission, a delegation organized by DiFine PR, Techcelerator and ROTSA (Romanian Tech Startups Association). More than 2,000 people, including 1,000 entrepreneurs and 300 investors, will attend the event, which takes place from May […]
AeroVacanțe, part of the Aerotravel group, is betting in 2024 on new destinations, more accessible for Romanians, as a result of the growing demand for holidays in new destinations untouched by mass tourism. Thus, the agency introduces for this summer 14 charter flights to Lesbos, the third largest island in Greece, where the costs of […]
