LEGISLATIVE AND REGULATORY FRAMEWORK
1. What is the relevant legal framework? Are there any pending legislative amendment proposals?
The main local legal enactments governing capital markets in Romania and setting forth the key principles for the organisation and functioning of the capital markets and their key players and participants are: Law No. 24/2017 on financial instruments
and market operations, Law No. 297/2004 on capital markets, Law No. 126/2018 on markets in financial instruments (transposing MiFID II), Law No. 243/2019 on the regulation of alternative investment funds, Government Emergency Ordinance No.
32/2012 (GEO No. 32/2012) on the organisation and functioning of undertakings for collective investment in traded securities (UCITS) and of investment management companies, Law No. 74/2015 on alternative investment fund managers (AIFM)