Less than two months after the entry into force of Law no. 129/2019 on the Prevention of and Combat Against Money Laundering and the Financing of Terrorism, as well as for Amending and Supplementing Certain Normative Acts (the “Law”), the National Bank of Romania adopted Regulation no. 2/2019 Regarding the Prevention and Combat of Money Laundering and Terrorist Financing (the “NBR Regulation”), published in Romania’s Official Gazette on 9 September 2019.
The NBR Regulation brings with it new rules to be observed by Romanian credit institutions, payment institutions, institutions that issue electronic currency (as well as the branches of such foreign institutions), and non-banking financial institutions.
For more information on this matter, please see the leaflet prepared by Ioana Savan, Leader of the Compliance and Regulatory Practice at PETERKA & PARTNERS.