Client Alert
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....
PropTech – Disrupting the real estate sector
"PropTech" is an abbreviation for Property technology. PropTech means any application in the real estate sector, be it 3D visualizing, home matching tools, crowdfunding in the RE sector, fintechs related to real estate, shared economy, smart cities, smart homes, artificial intelligence, smart contracts or building information modeling....
Defendants beware: New legislation on class actions in Poland
A NEW LAW MAY UNLOCK CLASS ACTION LITIGATION IN POLAND On June 1, 2017 new provisions on class actions will come into force in Poland. The incoming law should result in a major increase locally of this type of litigation....
Energy efficiency in the Federation of Bosnia and Herzegovina
The Law on Energy Efficiency (hereinafter: the Law) was for the first time enacted in the Federation of Bosnia and Herzegovina on 2 February 2017. The purpose of the Law is, inter alia, to achieve sustainable energy development, mitigate adverse environmental impacts and, also, increase the security of the energy supply. The Law defines energy efficiency as the relationship between the usage of energy and achieved effect in services, goods or energy. The Law entered into force on 1 April 2017....
The first action plan for the application of the GDPR has been published by the Romanian data protection authority
WHAT IS TO BE DONE BY DATA CONTROLLERS? On September 21st, 2017, the National Supervisory Authority for Personal Data Processing ("RDPA") published on its website a Guidance regarding the application of the General Data Protection Regulation (the "Guidance"), for the benefit of the data controllers performing personal data processing activities that fall under the jurisdiction of the Romanian law....
New aid scheme for energy based on biomass, biogas, and geothermal source
THE RELEVANT NUMBERS The Romanian Government approved (effective as of 14 April of this year) a State aid scheme which is aimed at stimulating investments in an area which both government officials and market players view as insufficiently developed – the production of energy (power and/or heat) from biomass, biogas, and geothermal sources....
Draft law to watch: mandatory electronic mailboxes for professionals
The Romanian Senate adopted a draft law regarding the "electronic headquarters of economic operators" (the "Draft Law"). The Draft Law regulates the mandatory use by professionals of predefined electronic mailboxes (e-mails), as identification element and means of receiving correspondence....
New data protection guidelines on GDPR
Important news in the data privacy field after the Article 29 Working Party Plenary held in October 2017: the drafts of two new guidelines were finalized and a final form of a third one was adopted. The guidelines are aimed at ensuring a harmonized application of the GDPR, after 25 May 2018....
Status update on the e-privacy regulation –The next key regulatory initiative after GDPR
On 10 January 2017, a proposal for a new Regulation of the European Parliament and of the Council concerning the respect for private life and the protection of personal data in electronic communications and repealing Directive 2002/58/EC ("e-Privacy Regulation") was published on the European Commission's website....
A new tax on commercial real estate to be introduced in Poland
In early October a draft bill introducing a tax on certain types of commercial real estate was submitted by the Ministry of Finance to Parliament for consideration. This new tax may increase the financial burdens of entrepreneurs operating in the real estate sector in Poland....
Class actions – Who wants to go first?
Recently, a Class Action Act was adopted which will take effect as of 21 April 2018. The Act aims at providing for an efficient joint pursuit of rights by injured parties that, until now, were discouraged by lengthy and expensive court proceedings....
An obligatory charge for certain types of plastic bags effective as of 01 January 2018
Earlier this year, National Council of the Slovak Republic passed the Act No. 90/2017 Coll. (the "Amendment") amending and supplementing the Act No. 79/2015 Coll. on Waste, as amended (the "Act on Waste")....