Client Alerts
Important changes into Romanian competition law – An overview
On 8 June 2017, Emergency Government Ordinance 39/2017 ("EGO 39") entered into force and brought a number of important changes to the Romanian Competition law. The EGO transposes the EU Damages Directive (2014/104/EU) into Romanian law and introduces a number of other changes into Romanian competition law, including inter alia: (i) a specific obligation incumbent upon modern retailers to provide, (upon request), information to the Competition Council regarding their resale prices; (ii) additional powers of the Romanian Competition Council ('RCC') during dawn raids....
Update on mandatory electronic mailboxes for legal entities
As of 1 August 2016, the Slovak Republic instituted the mandatory use of electronic mailboxes (accounts) (hereinafter the "emails") for legal entities. The obligation was introduced by Act No. 305/2013 Coll., on e-Government as amended (hereinafter the "Act on e-Government"), whereby the respective state authority was obliged to activate the emails by 1 August 2016 without any further conditions....
The horizontal merger guidelines introduced by the Ukrainian competition authority
Ukrainian competition law and practice continues to improve. This also includes the actual practice of law application, interpretation and clarification by the Ukrainian competition regulator – the Antimonopoly Committee of Ukraine (the "AMC")....
ImmoEst und Hauptwohnsitzbefreiung – Was ist neu?
Die Hauptwohnsitzbefreiung bei Immobilienverkäufen wurde von der Finanz unter Berufung auf die Einkommensteuerrichtlinie nur bis zu einer Grundstücksfläche von 1.000 m² gewährt. Darüber hinausgehender Grundbesitz unterlag nach Ansicht der Finanz der Immobilienertragsbesteuerung....
Reminder regarding deadline in Romania for risk analysis for physical security: July 1st, 2017
According to the Government Decision no. 301/2012 on the approval of the Methodological Norms for the application of Law no. 333/2003 regarding the safeguarding of objectives, assets, valuables and protection of individuals ("GD no. 301/2012"), certain entities that hold assets or other valuables regardless of the title are required to ensure proper security measures for those assets/valuables....
Further pieces of MiFID II puzzle fall into place
TECHNICAL STANDARDS BECOME EFFECTIVE As 3 July 2017 gets closer, and January 2018 is also approaching rapidly, the regulators and the in-scope firms across Europe are well advanced in their efforts for transposing MiFID II....
How efficient are investment opportunities for the production of electric energy from renewable energy sources?
Bosnia and Herzegovina (BiH) consists of two separate entities, the Federation of Bosnia and Herzegovina (FBiH) and the Republic of Srpska (RS), as well as one autonomous district under the sovereignty of the state, the Brcko district (BD)....
The Austrian authorities have requested information on UBS account holders resident in Austria
The Austrian authorities have requested information from the Swiss Federal Tax Administration on UBS account holders resident in Austria, to check if UBS clients fulfilled their tax obligations under Austrian law. According to a notice published today, any person holding an account or who was the beneficial owner of such an account between 2006 and 2008 shall contact UBS....
Host provider liability for hate speech posts and obligation to deliver user data
No liability of host providers for unlawful content of internet-users in case of timely deletion of hate speech posts | Obligation to deliver user data in case conviction is possible or not totally excluded...
Planned launch of Polish REITs in 2018
Real Estate Investment Trusts (REITs) permit investors (including small ones) to participate in the real estate market in a tax-advantaged manner. The REIT structure first appeared in the United States in 1961. It was introduced to Europe by way of REIT legislation passed in the Netherlands in 1969....
Companies’ European unique identifier
Following the adoption of the Law no. 152/2015 (amending and supplementing the national legislation regarding the registration procedure with the Trade Registry), which transposes the objectives of EU Directive 2012/17/UE of 13 June 2012 regarding the interconnection of central, commercial and companies registers, beginning with the date of 7 July 2017, individuals and legal entities that are registered with the Trade Registry will also have an European unique identifier ("EUID") allowing them to be unequivocally identified in communication between registers through the system of interconnection of central, commercial and companies registers as organized at the European Union level....
MiFID II – WAG Ministerialentwurf – Massive Änderungen
Der Ministerialentwurf (ME) zur Umsetzung des Market in Financial Instruments Directive 2014/65/EU (MiFID II) Paketes in Österreich ist am 31.3.2017 im Nationalrat eingelangt. Die Begutachtungsfrist läuft bis 24.4.2017. Mit dem ME wird die MiFID II in nationales Recht umgesetzt. Kern der Umsetzung ist ein neues BörseG 2018 und ein neues WAG 2018....