On 15 October 2012, Law no. 167/2012 amending Law no. 297/2004
on the capital market ("Law 167") was published in the
Official Journal No. 704. Law 167 has brought important changes to
the scope of activity of the SSIF (investment firms), by including
fiduciary services in the meaning of the New Civil Code and to the
application of certain provisions of the Capital Market Law (i.e.
market abuse) to greenhouse gas emission certificates traded on a
regulated market.
In a nutshell:
1. The financial investment services companies are expressly
allowed to perform fiducia activities, in accordance with the
provisions of the New Civil Code.
2. The definition of the regulated market includes reference
to trading greenhouse gas emission certificates.
3. The scope of the application of market abuse provisions is
extended to greenhouse gas emission certificates traded on a
regulated market in Romania or in an EU member state.
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The original publication date for this article was 18/10/2012.
