This section hosts the workshop information as well as work, both in progress and completed,carried out by participants under the guidance of international experts.
This is the Program proposal as discussed and agreed with Romanian authorities.
April 16: Kick-Off
On April 16, 2007 a preliminary meeting took place to discuss the Program approach with participants and to fine tune Phase 1.
May 16-17: Phase 1 - Assembling a Financial Sector RIA Team in Romania
The workshop provided basic information of how RIA process is structured and which methodology could be applied. Examples of concrete experience and case studies of Impact Assessment were also illustrated.
June 4: Phase 2 Launch - Applying RIA to an existing regulation
The RIA community starting a RIA exercise on two domestic regulations, proposed by the National Bank of Romania and National Securities Commission, assigned to multi-institutional working groups under the guidance of international senior regulators.
June 27-28: Phase 2 - Reviewing RIA Work-in-Progress
Representatives of the 2 Working Groups gathered with Convergence and SPI Secretariat in order discuss the work that each WG has done at that stage, to acknowledge the input provided by the two facilitators and to prepare next steps in view of the undertaking of the consultation process
WG1 Minutes WG2 Minutes
October 8-9: Phase 2 - Consultation Meetings
The 2 Working Groups consulted with a group of identified staheholders. The aim of consultation meeting was to learn more about the stakeholders' views so as to incorporate them into the proposed policy recommendation. Convergence and SPI Secretariat faciliated the 2 meetings.
October 8: Phase 3 - Kick off meeting
Convergence and SPI Secretariat met with Ms. Mihaela Nedelcu, coordinator of "IFRS Study WG", in order to define the WG composition, shape the action plan and outline the main "Study WG" objective to help Ministry of Economy and Finance prepare a RIA regarding fiscal treatment on IFRS provisions.
October 17: Phase 3 - Policy Proposal drafting
"IFRS Study Group" has met with SPI Secretariat in order to prepare a Policy Proposal to amend Government Decision no. 775/2005. The Policy Proposal will summarize the main issues raised during the consultation process.
November 1: Final RIA Presentations
Before the SPI Committee members, the Secretary of State of the General Secretariat of Government, Mr. Victor Giosan, the Chairperson of the National Securities Commission (CNVM), Ms. Gabriela-Victoria Anghelache, as well as senior management of other financial regulatory authorities, about 20 participants, delivered their final RIA presentations on regulations issued by National bank of Romania and CNVM and one regarding the IFRS SPI Project.
Working Groups Activity Monitoring
Working Group 1 - "Regulated Markets and Alternative Trading Systems"
Coordinator: Mr. Albert Schreiber (NSC); Members: Ms. Antonaneata Alexe (NBR), Ms. Andra Pineta (NBR), Ms. Mihaela Nedelcu (MEF), Ms. Camelia Oprea (NSC), Mr. Bogdan Ion (ISC), Mr. Ionut Pavel (GSG); Facilitator: Mr. Stephen Dickinson (UK FSA).
Working Group 2 - "Restrictions on credit granted to individuals"
Coordinator: Mr. Gabriel Valvoi (NBR); Members: Ms. Oana Mesea (NBR), Mr. Dorel Onetiu (NBR), Mr. Emanuel Constantin (MEF), Ms. Beatrice Verdes (ISC), Mr. Dragos Negoita (GSG), Mr. Laura Radut (NACP); Facilitator: Mr. John Pyne (IFSA).
Working Group - "IFRS SPI Project"
Coordinator: Ms. Mihaela Nedelcu (MEF); Members: Mr. Emanuel Constatin (MEF), Mr. Dan Matei (MEF), Ms. Marilena Gughea (MEF), Mr. Dorel Onetiu (NBR), Mr. Ionut Pavel (GSG); Facilitators: Ms. Oana Nedelescu (SPI Secretariat) and Mr. Riccardo Brogi (Convergence Program).
Phase 4 is aimed to promote the development of a national RIA community. During this Phase, Romanian regulators will execute a high-level impact assessment of a batch of five micro-regulatory policy initiatives identified within the 2008 SPI Program. RIA capabilities will only develop if authorities make RIA a routine tool of their policy design practices. Convergence with EU practices will support this development.