Credit activity on the territory of Romania can be carried out only through credit institutions and financial institutions. In addition, Law no. 93/2009 grants this right to non-banking financial institutions as well, with much more lenient conditions for accessing credit activity. Non-banking financial institutions are joint-stock companies that have been notified to the National Bank...
NIS2 is a European directive that updates and expands the cybersecurity requirements established by the original NIS directive from 2016. The NIS2 directive was officially adopted by the European Parliament and the Council of the European Union on December 14, 2022. It came into effect on January 16, 2023, and must be transposed into the...
Amid numerous public criticisms regarding the recent practice of retailers offering prepackaged products for sale, ANPC adopted Order 539/2024 on consumer information when selling prepackaged products whose volume or weight has decreased. This order was published in the Official Gazette on September 10, 2024, and will come into force 30 days after its publication in...
In the world of business, identification and verification are essential for establishing credibility, securing partnerships, and accessing financial opportunities. One of the most important international tools for achieving these goals is the D-U-N-S Number, a unique identifier issued by Dun & Bradstreet (D&B). What is a D-U-N-S Number? The D-U-N-S Number – the Data Universal...
Recent difficulties faced by the National Trade Register Office (ONRC) Recent difficulties in the activities of the National Trade Register Office (ONRC), caused by implementing changes to the IT infrastructure as part of the digitalization process, as well as the European Union’s legislative initiatives to extend the use of digital tools in corporate law, have...
News on Ultimate Beneficial Owners: European Regulation 1,624/2024 and Its Impact on Companies and Other Legal Entities Introduction In the context of combating money laundering and terrorist financing, the European Union has adopted Regulation 1,624/2024, which introduces significant changes concerning the identification and transparency of the ultimate beneficial owners of legal entities. This regulation will...
The architecture of the EU trademark system allows for the coexistence of national trademark regimes with that of the European Union trade mark (EUTM). Intellectual property, including trademark rights, is governed by international conventions that do not establish “international” intellectual property rights but merely set out procedures for recognizing rights already legislated in one state...
Greece’s recent decision to regulate a six-day work week has sparked international controversy and is being widely debated in the global press. In Romania, the six-day work week exists unofficially and illegally in numerous enterprises, as reflected in reports from labor inspectorates and testimonies from employees in various sectors. This trend is predominantly noticeable in...
In the context of employment relations, harassment represents a form of inappropriate and illegal behavior manifested through repeated and systematic actions or omissions, aimed at or resulting in affecting a person’s dignity and creating a hostile, degrading, humiliating, intimidating, or offensive environment. Disciplinary measures are legal actions taken by the employer to ensure compliance with...
In the context of employment relationships, the non-competition clause is an essential tool for protecting the legal and economic interests of the parties involved. According to Law No. 53/2003 – the Labor Code, as updated, this represents an optional specific clause in the individual employment contract. Thus, the non-competition clause imposes on the employee the...
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