Commission Report 2002 (Romania)

Chapter 3: Freedom to provide services

With regard to aligning with securities markets acquis, a number of major legislative developments have occurred concerning the statute of the Securities Market Commission, undertakings for collective investment in transferable securities, regulated commodities markets, services and derivative financial instruments and securities financial services and regulated markets. As mentioned in the Action Plan, Romania is implementing training and administrative programmes within the supervisory authorities for the banking, insurance and securities markets in order to reinforce the supervision of financial services. Romania has also established the inter-institutional co-operation structures as foreseen in the Action Plan. The Accession Partnership priorities in the area of freedom to provide services have been met to a large degree. Implementation of the measures under the Action Plan is largely on track.