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Portrait ofFlorentin Giurgea

Florentin Giurgea

Senior Associate

CMS Cameron McKenna Nabarro Olswang LLP SCP
One Tower
165 Calea Floreasca
12th–14th floors
District 1
014459 Bucharest
Romania
Languages Romanian, English

With over 14 years’ experience, Florentin Giurgea is a senior associate in the CMS Bucharest office with a specific focus on insurance and related financial issues, general commercial matters, sanctions, AML/KYC and the private pensions sector. Florentin offers clients in-depth industry know-how gained from working in the financial legal services industry for over 12 years, and has broad experience advising on complex regulatory aspects in Romania.  

Florentin regularly advises clients on a range of issues including commercial, corporate, M&A activity, and restructuring; risk transactions and reinsurance; claims, coverage and policy drafting; product design and distribution; regulatory advice; governance and compliance; regulatory investigations and enforcement; AML/KYC/CFT and international sanctions. Florentin completed a secondment in London as claims handler with a global leading re/insurance company. He is also an active member of the global Insurance and Pensions industry sector-working group.

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Memberships & Roles

  • Bucharest Bar Association.
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Publications

  • 2022 - NFT - an AML compliance perspective, in Juridice.ro.
  • 2022 - Legal insights on token model, in Juridice.ro.
  • 2022 - The necessity and utility for an NFT regulation, speaker at a conference on NFT & AI Apps, organised by Juridice.ro.
  • 2022 - Measures implemented by EU and Romania in the context of the conflict in Ukraine, Ziarul Financiar.
  • 2019 - Impact of CJUE decision in case C-542/16 on the insurance distribution, Universul Juridic.
  • 2016 - International Comparative Legal Guides – Insurance & Reinsurance – Romania.
  • 2011 - The SWAP Agreement: in Romanian Business Law Review issue 1/2011.
  • 2010 - Receivables Financing in the Context of ABS Securitization - Comparative View on the U.S. and Romanian Legal Frameworks: VDM Verlag.
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Education

  • 2010 - Duke University School of Law, NC, USA (exchange student).
  • 2010 - LL.M., Catolica Global School of Law, Lisbon, Portugal.
  • 2008 - LL.M., Central European University, Budapest, Hungary.
  • 2003 - LL.B., “Al. I. Cuza” University, Faculty of Law, Iasi, Romania.
  • 2005 - B.Ec., “Al. I. Cuza” University, Faculty of Economics, Iasi, Romania.
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Expertise

Feed

26/01/2023
Romanian regulation brings greater clarity to the AML legal framework in...
On 10 January 2023, Financial Supervisory Authority (FSA) Regulation no. 18/2022 amending and supplementing FSA Regulation no. 13/2019 on prevention and combating of money laundering (ML) and terrorism...
29/12/2022
Competition probes in Romanian insurance sector lead to fines of EUR 29m
The Romanian Competition Council (RCC) finalised two major investigations in the insurance and a related sector and issued fines totalling EUR 29m. The fines were announced on 27 and 28 December, respectively...
29/12/2022
EU issues new measures against Russia
In the context of the continuing conflict in Ukraine, on 16 December the EU Council adopted a new package of sanctions covering bans and restrictions on certain activities, and sanctions against certain...
23/12/2022
EIOPA releases annual report on sanctions under IDD in 2021
On 20 December, the European Insurance and Occupational Pensions Authority (EIOPA) released the annual report on sanctions imposed by national competent authorities under the Insurance Distribution Directive...
16/03/2018
The Insurance Distribution Directive (Directive (EU) 2016/97) is applicable...
On 9 March 2018, the Council of the European Union adopted a draft directive postponing the application of new rules on insurance distribution to 1 October 2018 (the “Draft Directive”). The Draft...
28/11/2017
Contributions to second pillar pension system decrease from 2018
According to the recently published Government Emergency Ordinance no. 82/2017, from 1 January 2018, the contribution to the privately managed second pillar pension funds will be reduced from 5.1% to...
10/11/2017
Draft law for the implementation of the IDD in Romania
The Ministry of Public Finances has released the long awaited draft law on insurance distribution (the "Draft Law"), intended to transpose the Insurance Distribution Directive 2016/97 ("IDD") in Romanian...
08/11/2017
Romanian FSA brings clarity over MTPL insurance
Last week, in an effort to support a more con­sumer-ori­ented approach to the recent regulatory changes on compulsory motor third party liability (“MTPL”) insurance, the Romanian Financial Supervisory...
25/10/2017
Romanian insurance sector sees high liquidity and increased stability
The Romanian Financial Supervisory Authority (“FSA”) recently released its report on the local insurance market indicators. As of 30 June 2017, all insurers in the market met the minimum capital...
04/10/2017
Trends of the Romanian insurance market in the first half of 2017
The Romanian Financial Supervisory Authority (the “FSA”) recently released the Romanian insurance market report covering the first half of 2017. The report concludes that the Romanian insurance market...
18/09/2017
Regulatory tax paid by insurance brokers in Romania reduced by 50%
According to the FSA, this decision follows the growth of the local insurance market and is intended to improve conditions for the development of the intermediation activity in Romania. If you would like...
14/09/2017
Regulatory tax paid by insurance brokers in Romania reduced by 50%
The Romanian Financial Supervisory Authority (“FSA”) recently announced a 50% reduction of the regulatory tax on the income of insurance brokers in Romania. As such, from 1 October 2017, insurance...