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August 1, 2021

Instant payments are a success story waiting to go global

A typical M&A closing highlights the need for and value add of instant payments:parties to the transaction with an acquisition finance element meet late in the evening to sign the documents and prepare everything for the closing. It is their plan that when the banking day starts the payments will be ordered and hopefully processed. […]...

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July 24, 2021

New whistleblowing law in Romania: it’s time to streamline processes and secure your data flows

Material scope significantly expanded Romania will soon enforce new national legislation implementing the Whistleblowing Directive1. The Romanian legislation draft will replace the existing mechanism applicable in the public sector and mandatory in publicinstitutions and state-owned companies2. As per the new draft law, the element of novelty relates to the extension of protection for whistleblowers to […]...

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July 22, 2021

Lessons learned: practical experience from Hungary’s whistleblowing law

Hungary is in a special position at the European level, as it has almost a decade of experience in the application ofwhistleblowing systems and the protection of whistleblowers. In 2013, Hungary adopted the Act CLXV on complaints and public interest reporting (the “Act”).1 Therefore, the required implementation of the provisions of the EU Whistleblowing Directive […]...

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July 22, 2021

Anonymous whistleblowing – and can digital solutions reduce the problems with it?

The EU Whistleblowing Directive as a trigger With the clock ticking towards the deadline for implementing the EU Whistleblowing Directive1, the issues around its implementation and the surprising delay of Member States to take action have become one ofthe hot legal topics of summer. Recent surveys indicate that only a few of the Member States […]...

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June 2, 2021

The new European Electronic Communications Code presents challenges for OTT service providers

Brand new framework for OTT service providers The European Electronic Communications Code (EECC) was introduced in 2018 by EU Directive1. All EU Member States were obliged to implement the EECC by 21 December 2020, however, in practice, in many jurisdictions, the implementation procedures have still not been completed. Under the EECC, new obligations have been […]...

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June 2, 2021

The Digital Content Directive – Cautiously Embracing the Digital Era in Austria

Untapping the Potential of Cross-Border E-Commerce A wider choice of products, at more competitive prices and a market of up to 70 million online cross-border buyers were promised by the European Commission1 when it touted its proposals for the Digital Content Directive2 andSale of Goods Directive3 back in December 2015. Almost six years and several […]...

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June 1, 2021

How blockchain is revolutionising capital market transactions

Improving efficiency and transparency In 2018, Erste Group Bank AG carried out the first fully digital, paperless issue of a borrower’s loan note (Schuldscheindarlehen) via a blockchain platform in Europe. Wolf Theiss provided legal advice to Erste Group on this pioneering transaction. Since then, a number of such transactions have been carried out on “Dealfabrix”, […]...

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May 23, 2021

For artificial intelligence to change your business, you need to get your house in order

AI can’t just be plugged in, you have to give it what it needs first: data & training Artificial intelligence is already reshaping business processes across industries, some faster than others. It is a mythical term, laden with our expectations that it will boost our quality of life and solve many problems. For business users […]...

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May 2, 2021

Artificial Intelligence (Regulation) Overkill in the EU?

Sweeping new regulation may unnecessarily restrict AI development On 21 April 2021, the European Commission published a proposal of pristine legal framework in the form of a Regulation on Artificial Intelligence (“AI Regulation”) to govern the development, placing on the market and usage of artificial intelligence (AI) systems within the European Union. The twin objectives […]...

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May 2, 2021

Blockchain everywhere?

Rise of the crypto market Lately the crypto market has made its way back into the focus of the finance sector, with all of the popular crypto currencies reaching an all-time high one after another and the market crashing shortly thereafter. In addition, a constantly rising number of businesses is or already has implemented blockchain-based […]...

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May 2, 2021

Understanding legal tech will help you harness its power

Much to unpack in a single phrase It’s 2021 and by now the (former) buzzword Legal Tech is already an old shoe – hardly anyone in the legal arena has not heard of it and many already had touchpoints with the topic. However, the question still remains:What exactly is Legal Tech and how can it […]...

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May 1, 2021

Blockchain everywhere?

Rise of the crypto market Lately the crypto market has made its way back into the focus of the finance sector, with all of the popular crypto currencies reaching an alltime high one after another and the market crashing shortly thereafter. In addition, a constantly rising number of businesses is or already has implemented blockchain-based […]...

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