Chaos on the Romanian energy market – proposed return to regulated prices and new taxes in the electricity and gas sectors

On 18 December 2018 the Ministry of Public Finances published a draft Emergency Government Ordinance proposing, inter alia, the return to regulated prices and new taxes in the electricity and gas sectors in Romania (“Draft EGO“), as summarized below. Main changes proposed in the power sector: Companies active in the electricity and heating sector will …

New registry for movable securities

In Romania, movable securities should be registered in a public registry in order for them to be enforceable against third parties. As of 3 December 2018, the former public registry “Electronic Archive for Secured Transactions” (“Electronic Archive“) has been replaced with a new system named the “National Registry of Movable Assets Publicity” (in Romanian: Registrul …

New Offshore Law to facilitate offshore petroleum activities

After much debate, the Law no. 256/2018 on measures necessary for implementing petroleum operations by titleholders of petroleum concessions regarding offshore petroleum perimeters (“Offshore Law“) was finally passed in November 2018 – key changes are summarized below. The Offshore Law replaces the old Government Emergency Ordinance no. 160/1999. Progressive windfall tax In addition to royalties …

Upcoming transposition of PSD II

Background The EU Directive 2015/2366 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (“PSD II“) entered into force on 12 January 2016 and should have been transposed by all member states by 13 January 2018. Several drafts of a government emergency …

Data processing activities subject to a data protection impact assessment

The National Supervisory Authority for Personal Data Processing issued the Decision no. 174/2018 (“DPIA Decision“) regarding the list of processing operations that are subject to the requirement of data protection impact assessment (“DPIA“): processing of personal data in order to carry out a systematic and extensive evaluation of personal aspects relating to natural persons which …