In Official Gazette no. 127 of 8 March 2013 was published Government Emergency Ordinance no. 12/2013 (“GEO”) which regulates certain fiscal and financial matters and prolongs certain deadlines provided for by prior legal rules on the topic.

By Article VIII of this GEO, the original date of 15 March 2013 on which the newly established Financial Supervisory Authority (“FSA”) was supposed to enter into force, is extended to 30 April 2013.

As it currently stands, as per Government Emergency Ordinance no. 93/2012 which deals with the establishment, organization and function of the FSA, as amended by the GEO, this new authority should enter into force 15 days after the appointment of the FSA’s members by the Parliament, but no later than 30 April 2013.