Date : 9/24/2019 4:43:50 PM
From : "IMMR"
To : "JoanneO@justice.gov.il"
Subject : Changes Informed by FIU Romania
Attachment : 1. Letter from FIU Romania - 8 Aug 2019.pdf;3. Old LAW 656-2002_republished.docx;5. Table with a comparative analysis of the previous and the new situation for the FIU.docx;2. New Law 129_2019_AML - CTF Law.docx;4. Letter MONEYVAL - 24 July 2019.pdf;





-------- Forwarded Message --------
Subject: Changes Informed by FIU Romania
Date: Tue, 17 Sep 2019 12:04:05 -0400
From: Gonzalo Alvarado <gonzalo.alvarado@egmont.org>
To:


On behalf the EC Sub-Committee, consisting in the Egmont Group Committee Chair, the Chair of the Membership Support and Compliance Working Group and the Regional Representatives for Europe I

Dear HoFIU,

Please be advised that FIU Romania informed in a Letter dated 8 August 2019 about changes brought by the new AML/CFT Law Nro. 129/2019. This new AML/CFT Law was published in the Official Gazette on 18 July 2019 and entered into force 3 days later.

As explained in the letter, Law Nro. 129/2019 harmonizes the Romanian legislation with the European Union’s AML/CFT framework, and tackles the deficiencies identified in their last MER. In addition, the letter highlights different aspects in the new law that would strengthen the operational independence and autonomy of the FIU, as well as its operational capabilities.

 For your reference, please find attached the following documents: 

  1. Letter from National Office for Prevention and Control of Money Laundering (FIU Romania), dated 8 August 2019.
  2. English version of the new AML CFT Law Nro. 129/2019
  3. English version of the old AML CFT Law Nro. 656/2002
  4. MONEYVAL’s letter dated 24 July 2019, in which Romania is invited to seek removal from the 4th Round Follow-Up Process.
  5. Comparative Chart with the “before/after” the amendments to the AML/CFT Law entered into force.

Taking into consideration what is stipulated in the Addendum to the Membership Procedure, this would require the work of an EC Sub-Committee formed by: 

  • Chair of the EC
  • Chair of the MSCWG
  • Regional Representatives (in this case, Europe I)

After reviewing the information provided by FIU Romania, the EC Sub-Committee concluded that there are no fundamental changes in the amended AML/CFT Law that may affect the membership of FIU Romania and its connection to the ESW. Among others, the new law brings the following positive aspects:

  • Article 39 (1) clarifies the type of “subordination” of the FIU by stating that it is a specialized body with legal personality, independently and autonomous from an operational and functional point of view, subordinated to the Government and coordinated by Prime-Ministry.

 

  • Article 40 abolishes the Board that governed the FIU, giving all the managing powers to the President of the FIU.

 

  • Article 36 (1) of the new Law addresses comprehensively all the aspects related to the international cooperation.

 

  • Art. 39 (6-7) provides a good basis for FIU Romania to engage independently with foreign counterparts, without intervention of third parties.

 

The above-mentioned decision has been taken in accordance with Addendum to the “Egmont Group Membership Procedure” as read with the “Egmont Group Support and Compliance Process”.

Best regards,

EC Sub-Committee