Client Alerts
Corporate Sustainability Reporting Directive – New reporting requirements for undertakings in the EU
available also in Slovenian below The Corporate Sustainability Reporting Directive (“CSRD”)1 entered into force on 5 January 2023. The CSRD must be transposed into the national laws of EU member states by 6 July 2024. Summary of key points: • the CSRD amends and strengthens the existing rules on reporting sustainability information, creating new uniform […]...
One Step Closer to Legislative Clarity for Renewable Energy Projects in Romania
Law 21 / 2023 for the Amendment of the Construction Law no. 50 / 1991 (“Law 21 / 2023”) was published in the Official Gazette on 10 January 2023 and will enter into force on 13 January 2023. Law 21 / 2023 is intended to bring legislative clarity to the development of renewable energy projects […]...
Romania: Authorities’ holiday season concerns on fire safety
The year 2023 in Romania started with hopes for more legislative clarity concerning fire safety. Order No. 180 / 2022 issued by the Ministry of Internal Affairs for the Approval of the Methodological Norms on Fire Safety and Civil Protection Endorsements and Approvals (the “Fire Safety Norms”) was published in the Official Gazette of Romania […]...
Amendments to the Rules of Proceedings of HCCI’s Arbitration Court
The amended Rules of Proceedings of the Arbitration Court attached to the Hungarian Chamber of Commerce and Industry (hereinafter referred to as “Rules of Proceedings”) entered into force on 31 December 2022, which apply to proceedings commenced on the date of the entry into effect or thereafter. Some of the amended provisions seek to address […]...
Slovenia’s New Data Protection Act – fines, traceability logs and much more
After a more than 4-year delay, Slovenia has finally adopted the new Data Protection Act1 (“DPA”), which will apply as of 26 January 2023 and replace the existing Data Protection Act from 2004 Under the new DPA, the Slovenian Information Commissioner will now have the authority to impose fines pursuant to the General Data Protection […]...
Croatia introduces significant changes in its employment legislation
As of 1 January 2023, Croatian employers should start with the implementation of new employment rules not only in employment agreements and internal documents but also in practice. After years of discussion between all involved parties, the amendments to the Labour Act were passed mid-December 2022 and entered into force on 1 January 2023 (apart […]...
Revised and improved whistleblowing law adopted in Romania
Consultation round results in positive changes This alert is a follow up to our previous Q3/Q4 updates on whistleblower protection in Romania and implementation of the EU Whistleblowing Directive from the perspective of compliance and internal investigations. The previous form of the Romanian whistleblowing law adopted in Parliament was subject to various criticisms, and the […]...
Schwellenwerteverordnung 2018 tritt Ende des Jahres 2022 außer Kraft
ab 1. Jänner 2023 gelten niedrigere Schwellenwerte Niedrigere Schwellenwerte führen zu einer Vielzahl an zusätzlichen, aufwändigeren Verfahren – Übergangsregelung soll aber kurzfristig Abhilfe schaffen Die österreichische Schwellenwerteverordnung 2018 (BGBl II Nr 211/2018) tritt zur Enttäuschung vieler öffentlicher Auftraggeber bzw Sektorenauftraggeber und auch privater Unternehmen mit Ablauf 31.12.2022 außer Kraft. Ob es (endgültig) zu einem dauerhaften […]...
Newest EU sanctions against Russia target military capabilities, propaganda tools and more
Discussions also underway on even enactment of criminal offences for sanctions violations In addition to other areas, the EU’s 9th sanctions package adopted on 16 December 2022 aims at impacting the Russian military industry in order to weaken the offensive force and military capabilities of its invasion in Ukraine. This alert follows our team’s previous […]...
EU sanctions on the Russian Federation and Belarus
*This list is regularly updated. Current as of 21 December 2022. The below list shows an overview over the EU sanctions recently introduced as a reaction to the current situation in Ukraine. With respect to Russia, note that other sanctions measures which have been introduced in the past might be applicable in certain cases (e.g., […]...
Polish Financial Supervision Authority confirms credibility of WIBOR
The Polish benchmark reform, i.e. the change of the primary interest rate benchmark from the existing WIBOR rate (Warsaw Interbank Offered Rate) to a new rate WIRON (Warsaw Interest Rate Overnight) is progressing: since 2 December 2022, WIRON can be applied as a reference interest rate index. Banks and other institutions are preparing for this […]...
Hungary: Further tightening of grid connection rules – existing grid connection rights could also be at risk
*available in Hungarian below A new government decree on the application of Act No. LXXXVI of 2007 of Hungary on electricity during emergency situations was published in the National Gazette of Hungary (see Government Decree No. 526/2022. (XII. 16.) in Hungarian Gazette No. 208/2022.), the main purpose of which is to further tighten the rules […]...