Aligning with recent regulatory changes and updated global standards
The Bucharest Stock Exchange (BVB/BSE) and the European Bank for Reconstruction and Development (EBRD) have announced a collaborative effort to review the corporate governance code of the Romanian market, aligning it with recent regulatory changes and updated global standards. This joint initiative will help listed companies enhance their governance and reporting quality by aligning with EU regulations, the latest G20/OECD Corporate Governance Principles, and industry best practices. The updated code is expected to provide guidance on emerging issues in governance and reflect the evolving priorities of stakeholders, thereby enhancing corporate resilience. The revised version of the Code is scheduled for release by the end of 2024, with the first year of reporting compliance anticipated in 2026 for the financial year 2025. Importantly, the process of reviewing the Code will incorporate input and insights from all market participants.
Another important market news includes the decision of the Board of Directors of the National Bank of Romania to maintain the monetary policy interest rate at the level of 7% p.a., which has been unchanged since January 2023.
