INSIGHTS

BY GRAYLING

Grayling CEE Outlook 2026

As every year, we have prepared Grayling’s CEE Outlook report, outlining the key political, economic and regulatory developments businesses should be aware of in the year ahead. In this edition, our Public Affairs teams highlight the policy, regulatory and geopolitical shifts most likely to shape the operating environment in 2026 in Central and Eastern Europe. The region continues to adjust to a shifting geopolitical and economic landscape. Governments across CEE are balancing fiscal consolidation with rising defence spending, while navigating ongoing uncertainty shaped by Russia’s continued war against Ukraine, a more transactional United States, and visible strains within the European Union. Together, these factors point to a period of gradual strategic recalibration. If you would like a more in-depth discussion tailored to specific industries or markets, please do not hesitate to contact us. We also encourage you to share the CEE Outlook with colleagues who may find it useful for their strategic planning.

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LEGAL BRIEFS

BY TUCA ZBARCEA & ASOCIATII

Competition Law - Amendments to the investment screening regime in Romania

Government Emergency Ordinance No. 17 of 12 March 2026 (“GEO No. 17/2026”) was published in the Official Gazette No. 199 on 13 March 2026. It amends and supplements several legislative acts, including: (i) Government Emergency Ordinance No. 46/2022 on measures to implement Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union, and amending and supplementing Competition Law No. 21/1996 (“GEO No. 46/2022”); and (ii) Competition Law No. 21/1996 (the “Competition Law”). Relevant highlights: • The examination fee is reduced from EUR 10,000 to EUR 5,000; • Increased materiality threshold triggering the notification obligation under GEO No. 46/2022; • Single notification procedure for multiple transactions between the same parties within one year; • Aggregation of interdependent transactions carried out over the course of a year which, individually, fall below the threshold of EUR 5,000,000 and notification of such transactions once the materiality threshold is exceeded; • Conditional exemptions from the notification obligation for certain internal restructurings or reorganisations; • Amendment of GEO…

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Regulatory Radar

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Proiect de lege privind aprobarea OUG 59/2024 pentru modificarea și completarea Legii nr.227/2015 privind Codul fiscal, precum și alte măsuri fiscale, B294/2024, L337/2024, PL-x 406/2024

Stadiu: Raport favorabil, Comisia pentru Buget, 8 aprilie 2026
Initiatori:  MF

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Proiect de Ordin MS privind modificarea anexei la Ordinul MS 444/2019 pentru aprobarea Normelor privind înfiinţarea, organizarea şi funcţionarea unităţilor farmaceutice

Stadiu: publicat in consultare publica, 27 aprilie 2026
Initiatori:  MS

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Proposal for a Directive amending Directives (EU) 2016/2341 and 2016/97 as regards the strengthening of the framework for occupational retirement provision - COM(2025) 842 final

Stadiu: published in the Official Gazette Part I no. 328, April 24, 2026
Initiatori:  European Commission

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Proposal for a Regulation amending Regulation (EU) 2019/1238 on a pan-European Personal Pension Product (PEPP) - COM(2025) 840 final

Stadiu: published in the Official Gazette Part I no. 328, April 24, 2026
Initiatori:  European Commission

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Proposal for a regulation amending Regulation (EU) 2019/2088 on sustainability disclosures in the financial services sector (SFDR), Regulation (EU) 1286/2014 on key information documents for PRIIPs - COM(2025) 841 final

Stadiu: published in the Official Gazette Part I no. 328, April 24, 2026
Initiatori:  European Commission

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HG 264/2026 pentru aprobarea Programului social de interes naţional de susţinere a cuplurilor şi a persoanelor singure, pentru creşterea natalităţii

Stadiu: publicat in Monitorul Oficial Partea I nr. 328, 24 aprilie 2026
Initiatori:  Ministerul Muncii

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