The Financial Supervisory Authority (ASF) Regulation no. 9 of May 29, 2014 regarding the authorization and functioning of the Asset Management Companies  (SAI), Undertakings for Collective Investment in Transferable Securities (OPCVM) and OPCVM  depositaries was published on the website of the ASF.

The Regulation establishes norms for application of the Government Emergency Ordinance no. 32/2012  regarding the OPCVM and the asset management companies, amending and supplementing the Law.  297/2004 on capital market, respectively establishes new procedures and conditions for performance  of the business activity of such entities, granting 180 days term as of the publishing in the  Official Gazette of Romania to ensure compliance with such new regulation.

ASF Regulation no. 8 of May  21, 2014  amending and supplementing Regulation  no. 4/2013 regarding  the support shares for deposit certificates, was published on the website of the ASF.

The Regulation lays down rules applicable in all cases where certificates of deposit are issued to  be admitted to trading in a Member State, based on

  • shares issued by a company established in Romania and which are to be first admitted to trading  on a regulated market in Romania as a result of an initial public offer and which are to be  registered with a central depository; and / or
  • allocation rights to be admitted to trading on a regulated market in Romania and registered with  a central depository and are attached to the shares issued and subscribed in the initial public offering.