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  • Category: Banking and Capital Markets

    Commission Directive 2014/82/EU of 24 June 2014

    The Directive amends Directive 2007/59/EC of the European Parliament and of the Council as regards general professional knowledge and medical and license requirements. Extract from the Directive: “THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Directive 2007/59/EC of the European Parliament and of the Council […]

    It entered in force the Ordinance no. 9/2016 on amending and supplementing Law no. 449/2003 regarding the sale of goods and associated guarantees

    According to the Ordinance, compared to the old regulation, was introduced a new provision regarding “the guarantee of legal compliance” which is the legal protection of the consumer resulting from operation of law in relation to non-compliance, representing the legal obligation of the seller to the consumer as without requesting additional costs, to bring the […]

    It was approved the Order on the procedure for declaring inactive taxpayers

    According to the Order, the taxpayers / payers declared inactive will have the VAT registration cancel by default, starting with communication of the decision of declaring the inactivity. Taxable persons who had canceled the registration for VAT due to their declaration of tax inactivity, at the reactivation will request the registration for VAT to the […]

    Preliminary ruling on the nature of the consumer loan. Ruling of the EUCJ

    1.     Must it be held that, pursuant to Article 4(1)(2) (investment services and activities), Article 4(1)(17) (financial instruments) and Annex I, Section C, point (4) (forward currency contracts, derivative instruments) of Directive [2004/39/EC] (1) (˜the directive), the offer of an (exchange rate) transaction to a client which, under the legal form of a foreign currency denominated loan agreement, consists […]

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    Intrebare preliminara cu privire la natura contractului de credit de consum. Decizia CJUE

    1.     Trebuie sa se considere ca, in conformitate cu articolul 4 alineatul (1) punctul 2 (servicii si activitati de investitii) si punctul 17 (instrumente financiare), precum si cu anexa I sectiunea C punctul 4 (tranzactii valutare la termen, instrumente derivate) din Directiva [2004/39/CE] (1), oferta adresata clientului unei tranzactii (pe cursul de schimb) care, sub forma […]

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    ANPC has won in the first instance in front of the Bucharest Court the case regarding possible abusive clauses with the Romanian Bank

    According to the press release, the case was submitted to the court based on the certified minutes which indicated the existence of possible abusive clauses in the contracts of personal loans, bank credit mortgage agreements, and mortgage loan agreements, respectively clauses regarding: 1.     Monitoring fee “Percentages calculated on the monthly balance of the loan is […]

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    What is the deadline for replacing the cash registers with paper rolls?

    These provisions are contained in the Emergency Ordinance No. 91/2014 on amending and supplementing the Government Emergency Ordinance No. 28/1999 regarding the obligation of operators to use fiscal electronic devices, published in the Official Gazette, Part I no. 966 of 30.12.2014 and consolidated on 23.07.2015. Under the provisions of this ordinance, “electronic cash registers appliances […]