Client Alerts
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....
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....