Emergency Ordinance No. 109/2011 on Corporate Governance of Public Entities

The ordinance expects mandatory compliance for Romanian public enterprises. It includes reporting requirements for public entities related to corporate governance, including specific disclosures related to management and the supervisory board.

Issuer name

Ministry of Public Finance

Government ministry

Finance/Treasury

More information

The Ordinance represents the first systematic introduction of corporate governance rules specific to SOEs in Romania. Corporate governance principles addressed include the separation between the ownership and policy-making function of the government, as well as full transparency on strategic decisions, related-party transactions and audited financial information.

Organizations covered by the instrument

State-owned companies

Target organization notes

Including public enterprises, Public authorities, state-owned or -controlled companies

Industry scope

All/none specified

Disclosure venue

ESG coverage- G (Governance)

All

Status

Current

Country

Romania

Region

Europe

Date of publication

2011

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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