Client Alerts
ESMA’s Public Statement on ESG in Prospectuses
This Client Alert is also available in German. On 11 July 2023, the European Securities and Markets Authority (“ESMA”) published a public statement (“ESMA Statement”) regarding sustainability-related disclosure requirements in prospectuses for both equity and non-equity securities. 1. Introduction ESMA emphasises that a material sustainability-related disclosure is expected to be included in prospectuses and in […]...
Czech Republic: The Whistleblowing Act finally in effect
Whistleblowing channels must be in place from 1 August 2023 Although the deadline for transposing Directive (EU) 2019/1937 on the protection of persons who report breaches of Union law (the Whistleblowing Directive) into national law passed on 17 December 2021, the Czech Republic has been among those Member States struggling to adopt a corresponding act […]...
ESMA Statement zu ESG Angaben in Prospekten
This Client Alert is also available in English. Am 11. Juli 2023 veröffentlichte die Europäische Wertpapier- und Marktaufsichtsbehörde (European Securities and Markets Authority – “ESMA”) eine öffentliche Erklärung (“ESMA Statement”) zu nachhaltigkeitsbezogenen Offenlegungspflichten in Prospekten für Dividendenwerte und Nichtdividendenwerte. 1. Einführung Die ESMA betont, dass wesentliche nachhaltigkeitsbezogene Angaben gemäß Artikel 6 Abs 1 der Prospektverordnung in Prospekten und […]...
The transposition of the Collective Redress Directive in Austria: What to expect
By 25 June 2023, the transitional provisions of the Collective Redress Directive should have been applicable throughout the EU. Austria – like several other EU Member States – did not meet this deadline. The following article deals with potential transposition options, for the Collective Redress Directive, by the Austrian legislator. 1. Collective redress in Europe […]...
The Foreign Subsidies Regulation: Application of the regime as at 12 July 2023
The Regulation (EU) 2022/2560 on Foreign Subsidies Distorting the Internal Market (FSR) formally entered into force on 12 January 2023, but the regime did not apply until 12 July 2023. On the same day, the respective Implementing Regulation (EU) 2023/1441 was published in the Official Journal. The FSR empowers the European Commission to investigate financial […]...
GDPR international data transfers: EU Commission adopts new US adequacy decision
With the new EU-US Data Privacy Framework in place, personal data may again be transferred from the EU to any US-based commercial organization participating in the Framework free of further restrictions or authorizations. On July 10, 2023 the European Commission (EC) adopted its adequacy decision for the EU-US Data Privacy Framework (DPF) (see EC’s press […]...
Slovenia: New FDI Screening Rules
Investment Promotion Act
New FDI screening rules to begin to apply on 1 July 2023 The new FDI screening mechanism introduced by the amended Investment Promotion Act (“ZSInv“) substitutes the legal framework that was introduced in 2020 during the COVID-19 Pandemic, which was temporary in nature. Key Changes Definition of a Foreign Investor and an FDI The new […]...
New rules on recording of work time in Slovenia
*This article is also available in Slovenian (see below). On 22 March 2023, the Slovenian National Assembly adopted the long-awaited amendment to the Labour and Social Security Registers Act (Zakon o evidencah na področju dela in socialne varnosti – ZEPDSV, “Amendment“). The Amendment does not introduce mandatory electronic time and attendance records for all employers, […]...
Legislative Changes in Slovenia Related to Cross-Border Services and Employment of Foreign Nationals
*This article is also available in Slovenian. Act on Cross-Border Services On 22 March 2023, an amendment to the Transnational Provision of Services Act (Zakon o čezmejnem izvajanju storitev – ZČmIS-1, “Act on Cross-Border Services“) was adopted and partially came into force on 18 April 2023, with individual provisions becoming effective on 1 January 2024. The basis for payment of social […]...
Die Umsetzung der Verbandsklagenrichtlinie in Österreich: Womit ist zu rechnen?
Bis zum 25.6.2023 sollen die Umsetzungsbestimmungen der VerbandsklagenRL in den EU-Mitgliedstaaten anwendbar sein. Österreich wird diese Umsetzungsfrist – wie auch mehrere andere EU-Mitgliedstaaten – nicht einhalten. Nachstehender Beitrag beschäftigt sich mit potentiellen Umsetzungsmöglichkeiten der VerbandsklagenRL durch den österreichischen Gesetzgeber. Kollektiver Rechtsschutz und die VerbandsklagenRL Bis zum heutigen Tag ist der kollektive Rechtsschutz in den EU-Mitgliedstaaten […]...
Employment Brief: The first deadline from the Austrian Whistleblower Protection Act is fast approaching
By 24 August 2023, companies in Austria with 250 or more employees must have established internal reporting channels. Key points for employers to consider are the following: Companies with a headcount between 50 and 249 employees have until 17 December 2023 to set up internal reporting channels. Should you have any questions or like further […]...
Employment Brief: Serbia adopts new health and safety regulations
Recently, a new Law on Safety and Health at Work came into effect in Serbia, impacting all employers. This law ensures the implementation of the latest EU standards in terms of safety and health at work (EU Directive 89/391/EEC) as well as harmonisation within current HR regulations in Serbia. Key novelties are:...