INTRODUCTION
Why Choose Our Firm
Welcome to our firm, a beacon of expertise in Romania’s Non-Banking Financial Institutions (NBFI) sector. Our team is composed of seasoned professionals dedicated to providing comprehensive support and guidance to NBFIs. From the very inception of your business to its closure, we stand by our clients, navigating them through the complexities of regulatory compliance, financial stability, and legal challenges. Our commitment to excellence and a holistic approach sets us apart, ensuring that your financial institution not only survives but thrives in the dynamic financial landscape of Romania.
Services Offered
Registration and Compliance
We assist with meticulous registration processes in the Entry Register, General Registry, and Special Registry, alongside offering support to credit institutions. Our team ensures that your operations are in full compliance with Romanian regulations and legal standards.
Financial Services
Beyond legal advice, we offer specialized financial services including accounting consultancy, guidance on maintaining the minimum share capital, adherence to legal financial indicators, and preparation and submission of reports to the National Bank of Romania (NBR).
Legal and Regulatory Consultancy
Our expertise shines during NBR inspections, providing expert legal advice, drafting responses to supervisory reports, and delivering authoritative legal opinions on regulations such as Regulation 17/2012, Regulation 20/2009, and Law 93/2009. We also navigate the complexities of Anti-Money Laundering (AML) and Know Your Customer (KYC) legislation, ensuring your institution is always ahead of compliance.
Representation and Advocacy
We represent NBFIs before the National Authority of Consumer Protection, securing approvals for loan agreements, authorizations for operations with precious metals and stones, and providing clear interpretations of regulatory norms.
Comprehensive Legal Support
Our services extend to any legal assistance required by NBFIs, including but not limited to labor law, insolvency law, fiscal law, and consumer protection. We also offer consultancy on the implementation and interpretation of provisions in newer laws and regulations affecting the sector.
Product and Marketing Legal Insight
Our team scrutinizes new financial products and provides legal input on Lead Generation (LeadGen) and marketing activities, ensuring that your offerings are not only innovative but also compliant.
Choose our firm to navigate the complexities of the NBFI landscape in Romania confidently. Our comprehensive approach ensures that your institution remains compliant, financially robust, and legally protected.
Financial & Reporting Obligations
NBFIs operating in Romania are required to submit a comprehensive set of reports and documents to the National Bank of Romania (NBR) to ensure transparency and regulatory compliance. These include:
Annual Financial Statement
A comprehensive yearly overview of the institution’s financial health
Periodic Financial Reports
Regular updates on the financial status of the institution
Financial Exposure Overview
Detailed insights into the institution’s financial exposures
Quarterly Accounting Reports
Updates on the financial activities and condition of the institution every quarter
Own Funds Report
An analysis of the institution’s capital and reserves
Litigation Report
A summary of any legal disputes between the institution and its consumers
External Financing Report
Details on the funds procured from external sources
Special Registry Compliance Report
An assessment of the institution’s adherence to the criteria for inclusion in the special registry
Credit Risk and Financial Exposure Report
An evaluation of the institution’s financial exposure and provisions for credit risks
Statistical Reports
Includes financial statistics, payment balances, and external debt information
These reports are crucial for maintaining the transparency and integrity of NBFIs, allowing the NBR to monitor their operations effectively and ensure they meet the regulatory standards and criteria set forth for financial operations within Romania.