Iulia Caizer is an attorney at law at Schoenherr Bucharest, where she specialises in corporate/M&A. Before joining Schoenherr in 2018, she practised with a local law firm in Timisoara, Romania as a summer associate and, later, as a junior associate, and with two American law firms as a legal intern and law clerk. She graduated from West University of Timisoara, Romania (LL.B, 2013), Heidelberg University, Germany (MA, 2016), and Georgia State University, College of Law (LL.M, 2017) and she is a member of the Romanian Bar. She is fluent in Romanian and English, and has good understanding of Spanish and Italian.
The stock market's flexibility is its greatest selling point for publicly traded companies, as it allows a fast flow of capital while still enabling majority shareholders to implement fundamental corporate changes should they wish to exit the market. However, even with all of this flexibility, shares may not always be free of other encumbrances, and the sale of such shares may be opposed by interested parties or even refused to be recognised as a genuine sale by the Trade Registry.
The government recently approved a draft legislation transposing the Fourth Anti-money Laundering Directive and introducing, among other things, important changes for private companies with regard to their reporting duties and transparency of ownership. Some of the new requirements for non-listed companies are of particular importance, as they will be key for combating money laundering and terrorism financing. The bill will also introduce stricter reporting duties and penalties for non-compliance.