To counteract tax evasion, Polish authorities have recently introduced legislation and digital systems allowing tax authorities to analyse banking systems, search for potential fraud, and block suspicious bank accounts. Effective 30 April 2018, the new rules may have an adverse effect on escrow accounts, M&A closings, and real estate transactions in Poland. This client alert […]
By Niall Crowley Increased volatility on financial markets is putting pressure on company management teams when setting valuations in M&A transactions, according to experts gathered at a seminar held by international law firm Wolf Theiss…
A new EU Regulation, which will take effect on 3 December 2018, provides for borderless online shopping. Traders are obliged to treat online customers equally, regardless of which EU-member state they come from. Geo-blocking will be abolished in many cases. However, digital content protected under copyright law and some other services are not yet affected […]
On 8 February 2018, the Bulgarian Competition Protection Commission (“CPC”) issued a Decision in a Competition Advocacy proceeding initiated in 2017 for the assessment of conformity with Competition law of the legal framework applicable to heat energy supply legislation. The Competition Advocacy proceeding analyzed the respective sections of the Energy Act (“EA”), the Heat Energy […]
On March 14 2018, the Romanian law for implementing measures on EU regulation no.2016/679 on the protection of individual rights regarding the processing of personal data directive GDPR was submitted. The legislative proposal can be reviewed here…
By Ben Sheppard The first change to England’s waste strategy since 2010, it represents an ambitious programme of reform which will shape the landscape for sustainability to 2030 and with some proposals looking as far ahead as 2050. Affecting the food, manufacturing and packaging sectors as well as the waste sector, key policies include the […]
By Stephen McGowan This month in summary Top Licensing Tip: Merry Christmas to all and to all a good night – Duty of care! Highlights of the City of Glasgow Licensing Board Licensing Statement Highlights of the Aberdeen City Licensing Board Policy Highlights of the new Edinburgh Licensing Policy Gambling Commission publishes new report on […]
By Patrick Shee The Briefing highlights some recent complaints which have come before the Ombudsmen. SIPP providers and financial advisors will benefit from reading our insights into how the Ombudsmen approach certain complaints and how best to apply those outcomes to their own businesses.
By Gergely Szalóki Factoring is an increasingly popular product of banks that appeals to corporate clients of whatever size as it provides liquidity to the clients and stable cash flow. The factoring is usually structured in a way that the vendors of the client do not receive information on the factoring, the bank stays in the background; […]
On 4 December 2018, the implementing Act PSD II (Implementatiewet herziene richtlijn betaaldiensten) was adopted by the Dutch Senate (Eerste Kamer) without further debate. The date of entry into force is not yet available. A Decree to further implement PSD II (Implementatiebesluit herziene richtlijn betaaldiensten) shall also follow.
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Clifford Chance has launched a new innovation lab in Singapore to explore legal technology solutions with the input of startups, companies and academics. As part of the firm’s innovation and best delivery hub for Asia Pacific, the project called Create +65 aims to develop and test new technology by gathering players at various ends of the […]
Jones Day has made up 46 new partners globally in its latest promotions round, while London accounts for the majority of Cadwalader Wickersham & Taft’s new joiners. The majority of Jones Day’s new partners – 34 out of 46 – were made up in the US, with a smattering of partners making the grade in the […]
Fried Frank Harris Shriver & Jacobson and Dechert have fought off an appeal from White & Case upholding an earlier High Court decision in favour of Russian lender Sberbank. The appeal made by the International Bank of Azerbaijan (IBA) was unanimously dismissed by Lord Justices Lewison, Henderson and Baker, with White & Case now expected […]
Clifford Chance has pledged to engage other elite law firms in a bid to counter corruption, after the firm came under pressure for acting on a deal involving the son of Equatorial Guinea’s long-serving president. The firm confirmed it played a role in the sale of a private jet to Teodoro Obiang in 2006, with the magic […]
Centrica’s deputy general counsel Justine Campbell has been named as the company’s new legal head following the retirement of its longstanding chief Grant Dawson. Campbell joined Centrica in 2013 as general counsel of its British Gas business, before rising through the ranks to the role of Centrica’s general counsel for UK and Ireland and then […]