After the Russian Federation had launched a military operation against Ukraine; the U.S., the EU, the UK, and a number of other countries began imposing broad economic sanctions against Russia. Those imposed by the United States are among the most economically effective sanctions.

Former CMS Partner Ales Lunder has joined Senica & Partners as Partner.

Veronika Bakonyi and Beatrix Berkes have been promoted to Partner at Gardos Mosonyi Tomori Law Office, while former Raiffeisen Bank Chief Legal Counsel Zita Tihanyi joins the firm as Partner.

The capital markets in Ukraine have been a sleeping topic until recently. On June 19, 2020, the Ukrainian Parliament has restated the Law of Ukraine on Capital Markets and Organized Commodity Markets (Law). The restated Law became effective in July 2021, introducing a whole new framework for the issue of securities in Ukraine. It implements the most important EU capital markets regulations, including MiFID II, MiFIR, and CRD IV.

It has been an interesting, fruitful, and innovative year for the Turkish financial sector. Most importantly and possibly surprisingly, the Turkish financial regulatory authorities are at full speed in implementing a legal framework to support a more sustainable Turkey.

Wiercinski Kwiecinski Baehr Partners Anna Flaga-Martynek, Marta Midloch, Marcin Smolarek, Maciej Szambelanczyk, Anna Wojciechowska, and Anna Wyrzykowska have become Equity Partners, while Counsels Agata Szczepanczyk-Piwek, Sergiusz Urban, and Jordan Zafirow have been promoted to Partner, as of January 1, 2022.