Business #11 Legislative focus

The National Authority for Consumer Protection (ANPC) has proposed new rules requiring businesses to update how they inform consumers about alternative dispute resolution (SAL). Companies will have to replace existing links to the now-closed EU platform with a single link to the national SAL platform (https://reclamatiisal.anpc.ro/), update the visual materials (badge and icon) displayed on websites and in stores, and use new formats that include a QR code and simplified messaging. The obligation to display this information remains unchanged, but the content and format must be updated to reflect the current legal framework, following the closure of the European online dispute resolution platform.

We expect the order to be soon signed by the ANPC president and published in the Official Gazette.

Companies that sell goods or services to consumers, especially in e-commerce, will need to update website links and in-store materials to reflect the new SAL system. Although the changes are mostly technical, they require quick adjustments to ensure compliance and avoid misleading information. The update improves clarity for consumers and centralizes dispute resolution at the national level.

Businesses should review and update all SAL-related information on their websites and physical locations, replace old graphics, and ensure links point to the national SAL platform. Companies should also monitor the final adoption of the order and implement changes promptly to remain compliant.

Last week, the Ministry of Finance issued a new draft bill to transpose EU Directive 2024/2811, aiming to make it easier for companies, especially SMEs, to access capital markets while strengthening investor protection. The proposal reduces listing requirements and bureaucracy, removes outdated rules, and introduces simpler disclosure obligations for smaller public offerings under €5 million. It also updates market abuse rules and sets stricter standards for investment research. New trading segments for SMEs are introduced, alongside lower thresholds such as a 10% free float and minimum capitalization of around €1 million.

This draft bill is expected to be adopted by the Government once the 10 days for the public debate expire. However, the bill will then move to the MPs for approval and will enter into force once the Parliament gives its final vote.

The measures are expected to significantly improve access to financing for Romanian companies, particularly SMEs that previously faced high barriers to listing. Lower requirements and simplified procedures could encourage more businesses to raise capital through the stock market instead of relying on bank loans. At the same time, stricter transparency and investor protection rules may increase compliance efforts.

Businesses considering raising capital should assess the new listing conditions and prepare for simplified disclosure requirements. Companies may also review governance, reporting, and communication practices to align with updated transparency rules, while exploring opportunities offered by new SME trading segments once the law enters into force.

PNL MPs have introduced a proposal in the Senate to declare May 10 (national independence day) a national public holiday, making it a mandatory non-working day for all employees. If adopted, the day would be paid time off, and employers would generally not be allowed to require employees to work, except in legally permitted cases.

This measure has medium chances of passing the vote of the MPs, especially since it’s signed only by liberal deputies, without backup from the governing coalition parties.

The introduction of a new public holiday would slightly reduce the number of working days in the year, potentially affecting productivity and operational planning, especially in sectors with continuous activity.

Businesses should monitor the legislative process and, if the measure is adopted, update internal policies, work schedules, and payroll systems. Employers in essential sectors should also prepare for legal exceptions and ensure compliance with rules on compensation for work performed on public holidays.