Exercitarea competențelor de supraveghere A.S.F. în reglementarea noii legi a piețelor de instrumente financiare – conținut, sancțiuni, limite
Exercise of supervisory powers by the Financial Supervisory Authority (ASF) in regulating of the new law of the financial instruments markets - content, sanctions, limits

Summary/Abstract: Law no. 126/2018 which transposes into the Romanian legislation a very uncomfortable directive in the field of the capital market - MiFID II Directive – became effective. The impact of the Directive is huge in terms of entities regulated by the legislation specifically dedicated to the capital market, but the spotlight will be placed on the Authority and its conduct in relation to market operators - how will A.S.F. exercise its’ supervisory skills? Will substantial fines be imposed and harsh measures taken? Or will the Authority understand the importance of the additional obligations placed on the operators and comply with the principle of proportionality while exercising the powers reserved by the law? In any of these cases, the Authority is required to strictly respect the principle of the legality of the incrimination, as well as applicable in contravention matters.

• Details
• Contents