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Last week was full of exciting news in relation to AI in Romania. First, the long-awaited AI Act was published in the EU’s Official Journal on 12 July, becoming Regulation (EU) 2024/1689. The AI Act is an essential part of the EU’s extensive digital strategy, alongside the Digital Services Act and the Digital Markets Act. […]...

The aim of the 2nd edition of The Legal 500: Project Finance Comparative Guide is to provide readers with a pragmatic overview of the law and practice of project finance law across a variety of jurisdictions including Hungary. Each chapter of this guide provides information about the current issues affecting project finance in a particular […]...

A recent legislative amendment to Law no. 17/2014, concerning certain measures regulating the sale of extra muros agricultural land, which also amends Law no. 268/2001 on the privatisation of companies managing public and private state-owned agricultural land and the establishment of the State Domains Agency (“Law 17”), has been proposed in the Romanian Senate. This […]...

The Romanian Parliament has recently passed a new piece of legislation (“Law 124/2024”) allowing local authorities to extend until 31 December 2026 the validity term of the general urbanism plans (in Romanian: “planuri de urbanism generale” or “PUG”), which were drawn up and approved before 2003. Law 124/2024 entered into force on 10 May 2024 […]...

Medicine shortages have become a troubling issue across the world, and Europe is no exception. A number of factors contribute to such shortages, ranging from economic and regulatory challenges to global market dynamics. The main reasons include manufacturing issues, regulatory hurdles, concerns over profitability and high rates of competition, quality issues and changes in demand. […]...

To date, collective redress has been regulated differently among EU-Member States. In particular, a uniform and efficient enforcement of collective consumer interests has hardly been possible within the EU. The Directive (EU) 2020/1828 on “representative actions for the protection of the collective interests of consumers” (“Representative Actions Directive“), which is part of the EU-commissions’ so-called […]...

Under law no. 17/2014 regarding certain measures concerning the sale and purchase of agricultural land located outside the city limits, and the amendment of Law No. 268/2001 on the privatisation of companies that hold public and private agricultural lands owned by the state under management, and the establishment of the State Property Agency, as subsequently […]...

With regard to investment treaty arbitration, a major stumbling block continues to be the determination of applicable law, due to the very nature of investment protection governed by a myriad of different treaties. Stefan Riegler, Emmanuel Kaufman and Borna Dejanovic (partner, counsel and senior associate respectively at Wolf Theiss) address this very matter in Chapter […]...

The latest publication by STEP, a global professional body devoted to family estate planning, “Decoding Digital Assets: An Overview for Practitioners” is now out. The definition of “assets” as a concept has evolved of late, expanding from traditional holdings to include various types of non-tangible property including cryptocurrency, NFTs, data, etc. Niklas Schmidt has contributed […]...

In-Depth: Consumer Finance Law is a country-by-country survey of the most consequential laws and regulations governing consumer financial services. Focusing on prominent recent developments in the sector, it examines key topics including payments, deposits, and revolving credit and instalment credit arrangements. Consumer protection in the financial sector has been greatly developed in Hungary over the […]...

This article is also available in German below. In December, the FMA traditionally published its focus areas for supervisory audit activities in the new year. The selected focus areas reflect the authority’s broad supervisory spectrum and address the current challenges, in particular geopolitical risks, the economic framework conditions and the opportunities and risks arising from […]...

The Insolvency Review helps readers understand the law and practice of insolvency in various key jurisdictions worldwide by giving an overview on fundamental basics of national insolvency laws and analyzing national and global trends in the field. Our experts Eva Spiegel and Alexander Zollner have contributed the chapter on Austria to the eleventh edition of […]...