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Our colleagues, Alexandra Ovedenie, attorney-at-law and head of our banking and financial services practice, and Andra Casu, Associate Partner – EY Romania, talked about new challenges for cross-border transactions under the Mandatory Disclosure Regime (MDR). The deadline for transposition into Romanian legislation of the MDR Directive is the end of the current year. The reporting will also cover transactions for which the first implementation step has occurred starting 25 June 2018. During the next six months, the entities likely to fall within the scope of the reporting should initiate an analysis of all types of transactions that they are primarily involved in, for the purpose of determining which of these transactions may have relevant hallmarks, followed by the implementation, at an organizational level, of the necessary measures to achieve, among others, the identification, analysis and eventually the reporting of the transactions.
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