The Romanian Government has recently adopted through an Emergency Ordinance an adapted short-time work scheme intended to keep businesses and jobs afloat.
The amendments introduced to the Romanian Companies Law through Law No. 102 / 2020 ease the procedures for setting up new companies, improving the process for registering and communicating with the Trade Registry and encouraging investment in the Romanian economy. Further steps are in view to simplify the formal process of incorporating a company in Romania.
On July 12, 2020, the provisions of Law No 112/2020 (“Law 112/2020”) became effective in order to amend and supplement Law No 84/1998 on trademarks and geographical indications following the transposition of Directive (EU) 2015/2.436 of the European Parliament and of the Council of 16 December 2015 on the approximation of the laws of the Member States relating to trademarks.
The EU-US Privacy Shield agreement that attempts to guarantee the secure transmission of EU data to the US has been declared invalid by the European Court of Justice.
Video surveillance footage often contains images of people. As this information can be used to identify these people either directly or indirectly, it qualifies as personal data.
The European Parliament has recently approved a resolution addressing several challenges arising from the rapid development of artificial intelligence (AI) and automated decision-making (ADM) technologies. The resolution references several major pieces of work carried out by the European Commission on AI and provides a list of existing EU instruments that are relevant to AI and ADM — which together present a potential roadmap of areas of reform.
Romania has been reclassified from frontier to secondary emerging market effective from September 2020, FTSE Russell announced following its annual review of the country’s capital market. This means that large funds which were restricted to act in frontier markets could invest here, improving the development of the capital market. The problematic criteria which have put Romania on stand-by for three years since it was included on the FTSE Russell watch list was that of liquidity, namely the volume of transactions.