Aspects regarding the impact of Law no. 129/2019 in the matter of companies
Aspects regarding the impact of Law no. 129/2019 in the matter of companies

Summary/Abstract: Law no. 129/2019 for the prevention and combating of money laundering and terrorist financing, as well as for the modification and completion of some normative acts, has agreed the national legal framework with certain European Union directives in this field. At a particular level, in relation to the object of activity, certain companies have obligations such as the designation of persons with responsibilities in the application of Law no. 129/2019 or reporting certain data and information to the National Office for the Prevention and Control of Money Laundering. At a general level, the companies regulated by Law no. 31/1990 are covered by a new obligation, respectively the obligation to declare the real beneficiary of the legal person. Also, institutions regulated by Law no. 31/1990 were subjected to some substantial changes. In the latter category is the elimination of the possibility of companies to issue shares to the holder.

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