Law no. 244/2022 in Romania, effective from August 6, 2022, implements EU Regulation 2020/1503 nationally. It designates the Financial Supervisory Authority of Romania (RO ASF) as the responsible body for crowdfunding services, outlining procedures for authorization and registration of service providers, and setting rules for marketing communications. The law also specifies requirements for legal forms and languages for communications, grants RO ASF supervisory and investigative powers, and establishes a sanctioning regime for violations, including fines and potential withdrawal of authorization.
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