Regulatory

Regulatory form a substantial part of our practice, as the Romanian legal framework requires various amendments and new enactments with a view to be brought in line with the European Union legislation. We have advised on drafting and/or amending legislation in various areas of law and we have maintained a good working relationship with governmental authorities, as well as with agencies and regulatory bodies in the field of privatization, public acquisitions, communications, energy & natural resources, construction and infrastructure.

We proud ourselves for having been retained by various regulatory authorities as their lead legal advisor on amending various local laws and regulations in line with EU Directives or to improve foreign investments in different industries and businesses.

A selection of our recent instructions in the area includes:

Advising the Ministry of Economy on adjusting the regulatory frame applicable to the Office for State Ownership and Privatization in Industry (OPSPI) with a view to strengthening OPSPI’s abilities to perform its privatization functions.
Advising the Romanian Government on various fiscal laws and regulations and drafting amendments to such laws and regulations, as part of a major project for the preparation of the new Fiscal Code of Romania.
Advising the Romanian Government on drafting and implementing the strategy for the restructuring of a EUR 1 billion debt of S.C. Termoelectrica S.A., the largest electricity producer in Romania.
Advising Enel Distribuzione SpA on adjusting the relevant regulatory frame applicable to the EUR 112,000,000 privatization of two of the subsidiaries of Electrica S.A. (the largest electricity distribution company of Romania) - including drafting the law on certain measures to regulate the electricity distribution activities of companies, as well as advising on the regulatory framework as proposed for public debate by the Romanian Energy Regulatory Authority.
Retained by the Romanian Natural Gas Regulatory Authority (ANRGN) for drafting specific regulations for the project “Strengthening the Regulatory Capacity of ANRGN”.
Retained by the National Agency of Civil Servants for drafting a new civil servants salary law.
Advising the Romanian Association of International Medicine Manufacturers in connection with the legal analysis of the Bill of Law on Social Health Insurance, the Bill of Law on National Health Programs and the Framework Agreement on medical assistance within the system of the social health insurances initiated by the Ministry of Health.
Retained by the Romanian Government for reviewing and amending the legislation and regulatory framework regarding child protection and child adoption and the harmonization thereof with the UN Convention on Children Rights, the European Convention regarding Child Adoption and the Hague Convention regarding Child Protection and Cooperation on International Adoptions.
Performing a legal analysis on the Bill of Law on Pharmacies, initiated by the Romanian Ministry of Health and drafting an extensive assessment of this bill of law.
Retained by Arcelor Mittal to assist Mittal Steel Galati S.A., the largest Romanian steel producer, in drafting and amending the Emergency Government Ordinance on certain measures for the privatization of Sidex, in order to set out the regulatory framework for the post-privatization stage, including the incentives from which Sidex was benefiting due to the privatization.
Advising COCIM, an organization representing an important community of Spanish companies with international operations, on the regulatory framework governing various fields (foreign investments, currency and exchange control, forms of business organizations, tax, industrial and intellectual property, banking, labor law, etc.) in order to contribute to setting-up its on-line database.
Assisting the Romanian Ministry of Communications and Information Technology and General Inspectorate of Communications, in conducting a legal and legislative research, as part of a major project for the re-evaluation and harmonization of communications legislation in Romania.
Retained by the Romanian Ministry of Transport for drafting amendments to the Government Ordinance on establishing the National Air Company Tarom S.A., the national airline carrier, in order to set the regulatory framework for the privatization thereof, in line with the European Union regulations.
Retained by the Romanian Government for drafting and amending the Government Emergency Ordinance on establishing certain measures for the financial and operational restructuring of Banca Agricola S.A., as a first step towards its privatization.
Retained by the Romanian Ministry of Finance on the establishment of incentive measures by way of a government ordinance issued for the activity of petroleum agreement holders and their subcontractors operating in maritime blocks.
Assisting the Romanian Ministry of Finance and the Romanian Authority for Privatization (APAPS), as part of an international advisory consortium, in drafting the concession law and advocating positions on the proposed draft to elected officials.
Advising the Romanian Ministry of Industry and Trade and the European Union in relation to the implementation of the Innogate Umbrella Agreement in Romania, with a view to reviewing and amending the Romanian oil & gas-related legislation, in close cooperation with the regulatory authorities and the major players on the oil & gas market.
Assisting the Romanian Government in establishing the Romanian Agency for Banking Assets Recovery (AVAB) and drafting proposals for legal rules and regulations, as well as consulting with the World Bank, the National Bank of Romania and the Romanian Ministry of Finance.
Advising the Romanian Ministry of Finance in connection with the preparation of the new legislation on public procurements in line with the European Union relevant regulations.
Advising the Romanian Ministry of Agriculture and Food in drafting the new regulation on tobacco excises in line with EU relevant regulations.
Retained by the State Ownership Fund for providing regulatory support on various matters, including drafting or reviewing several Government Ordinances and other legislative enactments concerning privatizations, before their submission for approval by the Parliament.
Advising a major foreign investor in oil exploration in reviewing various amendments to the Petroleum Law before being submitted to the Romanian Parliament, including preparation of the submissions to the Government, Economic Commission of the Senate and the Chamber of Deputies, drafting over 100 amendments in line with the foreign investors’ requirements, promoting and advising on special customs and fiscal exemptions, as well as other facilities for oil investments in Romania.
Retained by the export-import bank of Romania (Eximbank) for drafting two bills of law on its activity.
Advising two major Romanian oil companies on the regulatory and legal regime concerning the supply of oil and energy-related legislation.
Assisting the professional association of Romanian cable TV service providers in amending and harmonizing the legal framework applicable to CATV businesses.
Retained by Nestlé Joe, Elite Romania and Kraft Romania, leading private companies active in the food, coffee and beverages industry for a preview of Romanian laws related to excise duties and taxes applied to coffee imports and filling the lacuna in the harmonization with the EU laws.
Advising the Romanian Ministry of Finance in drafting the debt-equity swap project with a view to recovering USD 1,500,000,000-plus debts owed by several State-owned companies to the budget.
Retained by the State Patrimony and Protocol Administration Agency (RAAPPS) for the review of the legislative framework regarding its operations and management.
Assisting the Romanian Agency for Development in connection with certain regulatory matters regarding foreign investments and restructuring State-owned companies.
Retained by the Romanian Government for drafting proposals for amending the Government Ordinance on the establishment of the National Oil Company Petrom S.A., with a particular view to the position of the Romanian State as the majority shareholder.
Advising Sagacarbon, a subsidiary of Caisse des Dépôts et Consignations France, in connection with regulatory constraints imposed by greenhouse gas emission allowances.
Advising Raiffeisen Capital & Investment on various regulatory matters related to the requirements applicable to investment firms in the context of cross-border offerings, disclosure issues, mandatory public offers.
Advising Google in relation to numerous regulatory and corporate issues relevant to the operation of its Romanian entity, Google Bucharest, including assistance to GOOGLE in relation to regulatory issues governing the legal regime of defamation in Romania, as well as data protection aspects triggered by the re-launch of Google’s Street View Project in Romania, and in respect of legal aspects covering legal claims arising from contents posted on Youtube.
Legal assistance to Telecom Italia, leading network operator in Italy, in relation to general telecommunication regulatory requirements, as well as to the operation of its subsidiary, Telecom Italia Sparkle Est.
Advising Sony Pictures Home Entertainment in relation to regulatory aspects pertaining to the Terms and Conditions, Privacy Policy and Registration Page for its online service.
Assisting Playtech Limited in relation to various regulatory matters concerning the contemplated entering of Playtech Limited on the new market of online gambling in Romania.
Retained by Gaz De France Suez Energy Romania in connection with the implementation of an extensive tailored competition law compliance program for the Client, by taking into account the findings of the European Commission’s Sector Inquiry Report on the gas market and the sector-specific regulations, at both national and EU levels.
Assisting AT&T Global Network Services Romania, the Romanian-based subsidiary of AT&T Global Network, the largest US telecommunications company, with respect to ongoing corporate and regulatory issues regarding the localization of its global services agreements, drafting a regulatory survey report concerning various issues related to the processing of personal data, data controllers obligations, notification formalities.
Advising Atlas Telecom Network in relation to regulatory matters concerning telecommunication services authorizations and telecommunications services contracting.
Advising Emfesz, a leading Hungarian natural gas and energy trading provider, on all the regulatory issues related to the development of several micro hydro power plants.
Advising various leading healthcare and pharmaceutical companies, such as Eli Lilly, Novartis Pharma, Ipsen Pharma, Servier Pharma, AstraZeneca, and B Braun with respect to complex regulatory matters.
Retained by the Romanian Ministry of Communication and Information Technology and the General Inspectorate of Communications in connection with a World Bank project for the reevaluation and harmonization of communications legislation in Romania.
Retained by the Romanian Ministry of Industry and Resources, in connection with a EU PHARE project, for the review of the Romanian legal framework on oil and gas transportation systems.
Advising the National Agency of Civil Servants on the PHARE project “Design and Implement Mechanism for the Full Application of the Civil Servants Statute Law”.
Retained by the World Bank in connection with the project on “Corporate Governance Country Assessment in Romania”, with a view to developing guidelines that will contribute to strengthening the international financial architecture.
Advising the European Bank for Reconstruction and Development (EBRD) in connection with the “Banking Sector Legislation Assessment” project, financed by the Government of Switzerland (the Swiss Technical Co-operation Fund) and conducting an assessment on the status of the banking sector legislation in each of EBRD's countries of operations, benchmarked against relevant international standards, in particular, the Core Principles for Effective Banking Supervision, issued by the Basel Committee on Banking Supervision.
Advising the European Investment Fund in connection with a EUR 8,000,000 facility, in the context of Decision No. 283/2010/EU of the European Parliament for employment and social inclusion, aiming at supporting the creation and development of small enterprises and self-employment in the European Union.
Advising Enel S.P.A. in connection with the structuring, negotiation and amendment of a complex risk guarantee scheme put in place by the World Bank, Citibank and the Romanian Ministry of Economy and Finance, aimed to cover the risk of adverse changes in regulation, concerning electricity distribution and supply activities in Romania.