Romania’s Ministry of Finance announced that the Government has approved a draft law amending the legal framework for collective investment undertakings and their managers, aimed at modernising and improving the efficiency of Romania’s capital market. Drafted by the Financial Supervisory Authority following consultation with industry representatives, the package focuses on simpler processes, greater investment flexibility and closer alignment with evolving EU requirements. The bill would enable distribution of fund units via an omnibus (global) account to reduce operational costs and widen access, introduce a new “semi-professional” investor category to allow participation in funds reserved for professional investors under appropriate information and risk-assumption conditions, and replace authorisation with a registration process for certain professional-investor funds. It would also broaden eligible fund assets to include certain digital assets in line with the EU Markets in Crypto-Assets Regulation framework, clarify and align supervisory and sanctions provisions, and transpose parts of Directive (EU) 2024/2994 on the treatment of counterparty risk for centrally cleared derivative transactions.

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