Client Alerts
Trading bitcoins subject to taxation In Poland
On 6 March 2018, the Administrative Supreme Court (NSA) issued the first ruling concerning taxation of income made from trading bitcoins by individuals (case II FSK 488/16). According to this ruling, income made by individuals from trading bitcoins is subject to taxation in Poland as it involves trading property rights subject to the progressive tax […]...
The asset tracing and recovery review: Austria
The Austrian chapter in the Asset Tracing and Recovery Review provides an overview of the most relevant provisions under Austrian law with respect to the recovery of assets deprived through fraudulent conduct. It focuses on the interaction of legal rights and remedies in civil and criminal proceedings regarding inter alia obtaining evidence, seizure of assets […]...
Digitalisation in securities: planned amendment to the Austrian deposit act which will allow for dematerialised securities certificates
The Austrian Council of Ministers recently resolved a ministerial proposal which would allow for bonds and investment certificates to be represented by digital global certificates rather than physical paper global certificates. The digital global certificates will possess the same securities law functions as physical global certificates. Banking and finance expert Alexander Haas of Wolf Theiss […]...
Wirtschaftsrechtliche Blätter: Die Schaffung und Übertragung von Wertrechten via Blockchain-Technologie
Die Einführung von Wertrechten in das österreichische Wertpapierrecht bildet die Grundlage für den Einsatz innovativer Technologien am österreichischen Kapitalmarkt für die digitale Emission und Übertragung von Wertpapieren. Die Blockchain-Technologie weist dabei als Register für die Schaffung und Übertragung von Wertrechten und für die Überleitung zu einem (alternativen) Registersystem ideale Voraussetzungen auf....
BRRD2 transposition in the Czech Republic
In order to transpose BRRD2 into Czech law, an amendment to the Czech Crisis Resolution Act and other acts is currently entering scrutiny at a second reading at the Czech Chamber of Deputies. It is expected that the Czech Parliament will expedite the legislative process to ensure transposition of the BRRD2 into Czech law as […]...
A giant leap forward? The new draft for a restructuring code in Austria
On 22 February 2021, the ministerial draft of the Restructuring and Insolvency Directive Implementation Act was published, which marks a turning point for pre-insolvency restructuring law in Austria. The code allows the restructuring of a company even against the will of individual creditors, which could in the past lead to the failure of a consensual, […]...
Neues österreichisches Pfandbriefgesetz
Das Bundesministerium für Finanzen hat einen Gesetzesentwurf samt Materialien, mit dem insb. ein Bundesgesetz über Pfandbriefe (Pfandbriefgesetz) erlassen wird, zur Begutachtung versandt. Der Gesetzesentwurf umfasst nicht nur die Umsetzung der Richtlinie (EU) 2019/2162 (Covered Bond Richtlinie), sondern hat die Schaffung einer einheitlichen Rechtsgrundlage für gedeckte Schuldverschreibungen zum Ziel, indem die drei bestehenden nationalen Rechtsgrundlagen (Hypothekenbankgesetz […]...
Legislative changes affecting energy trading in Hungary and the regulator’s interpretation
Important changes were introduced in the Hungarian legal system in February 2021 which have a significant impact on energy trading. The core amendments include the following, but important questions remained unanswered about the provisions. The category of “limited power trading license” was removed from the Hungarian Electricity Act. The statutory regulatory fee of energy traders […]...
A giant leap forward?
The new draft for a restructuring code in Austria On 22 February 2021, the ministerial draft of the Restructuring and Insolvency Directive Implementation Act was published. The law is the eagerly awaited implementation of the Restructuring Directive. In addition to the introduction of a new Restructuring Code (RC), inter alia the Insolvency Code (IO) is […]...
Wirtschaftsrechtliche Blätter: Digitale Finanzplattformen zur Emission von Schuldscheindarlehen (Teil 2)
Der zweite Teil des Artikels zum Thema Digitale Finanzplattformen zur Emission von Schuldscheindarlehen knüpft an die innovativen Geschäftsmodelle der Schuldscheinplattformen an und behandelt die aufsichtsrechtlichen Aspekte des Finanzinstruments Schuldscheindarlehen. DLT-basierte Technologien ermöglichen dabei die Schaffung eines digitalen Kapitalmarkts, der mithilfe digitaler Finanzplattformen auf weitere Kapitalmarktinstrumente erweitert werden soll....
The COVID vaccine in the workplace
THE LEGAL FRAMEWORK FOR EMPLOYERS IN CEE We look at employers’ most common questions about the current Covid-19 vaccination rules in CEE/SEE in this regional analysis. Our lawyers from 10 jurisdictions answer questions such as: Is a business permitted to require employees to be vaccinated against COVID-19? Can an employee be disciplined for refusing to […]...
Harmonising consumer protection in the digital context: the EU digital content directive in Austria
The EU Digital Content Directive (EU) 2019/770, which regulates contracts for the supply of digital content and services, must be transposed into national law by 1 July 2021. By seeking full harmonisation of its content, the Digital Content Directive aims to achieve a high level of consumer protection throughout the EU. It should also benefit […]...