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Status report on newly implemented FDI regimes
Lessons learned in CEE/SEE September 2021 – Czech Republic, Hungary, Poland, Romania FDI restrictions in Central and Eastern Europe In the context of the global pandemic which exposed the vulnerabilities of excessive reliance on externalised foreign supply chains, EU Member States (including many in the CEE/SEE region) have accelerated the adoption of local legislation aimed […]...
Re-purposing real estate: adding value to your property
Deep changes in the global real estate market Panta rhei – „Everything flows“. When the Greek philosopher Heraclitus created this famous phrase around 500 B.C., it was certainly not the world of real estate that he had in mind. Nowadays, however, his quote aptly describes the developments that affect this critical investment class, which is […]...
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. […]...
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 […]...
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 […]...
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 […]...
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 […]...
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 […]...
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”, […]...
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 […]...
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 […]...
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 […]...