The end of 2016 brought a lot of issues to the attention of the Financial Services Committee.
The members had the opportunity to comment a series of bills as:
(1) The new Law on prevention and combating money laundering and terrorism financing. Although most of AmCham comments had been taken into consideration, the team will continue the dialogue at the Parliament level.
(2) The Committee is preparing for submitting its commentaries to the amendments to the Law on mortgages regarding exceptional cases of illegality of some provisions of the Law No. 142/2008.
(3) The Committee also prepared to send the commentaries to the Supreme Court of Justice Recommendation on the abusive clause in loan agreements.
(4) Additionally, the Committee is focused on providing the National Commission for Financial Market with feedback regarding a series of amendments to the Law on capital market and to the Law on joint stock companies.
(5) AmCham commented on the NCFM’s draft instructions for financial reporting of the microfinance organizations. Later this month a meeting with NCFM representatives is expected to discuss FS Committee objections.
Supplementary to this, AmCham had a series of meetings both in the format of the Financial Services Committee, as well as with public officials. Therefore, a meeting was held to discuss the amendments to the Law on Credit History Bureau, based on the comments submitted earlier, as well as to discuss the draft provisions of the Bill on Credit non-banking organizations. The Committee members had the opportunity to discuss the Insolvency Law, and the deficiencies of the Register of Real Guarantees, more actions are upcoming in this regard.
If you have any questions regarding the activity of the Financial Services Committee, please contact Adrian Gheorghita, Deputy Director for Advocacy and Business Development at 211 – 781 or email@example.com.