The Czech Act on Ultimate Beneficial Owners (the "UBO Act") has been effective since 1 June 2021. Not even a year and a half later, Czech lawmakers introduced an amendment to the UBO Act (the "Amendment") after significant pressure from the European Commission to comply with the Fifth Anti-Money Laundering Directive ("AMLD5").
Tau Nowacki Opens Doors in Poland
Former Compliance Partners Partner Jaroslaw Nowacki has founded Tau Nowacki focused on "operational compliance and AML in fintech and crypto."
Allen & Overy Advises on Introduction of Bondholder Tax Certification Procedures in Czech Republic
Allen & Overy, in partnership with Clearstream and Euroclear, has advised on the drafting and implementation of bondholder tax certification procedures in the Czech Republic.
Turkiye’s New Electronic Commerce Amendments: Compliance Steps to Follow
The Law No. 7416 on Amendment of the Law on Regulation of Electronic Commerce (“Amendment Law”), published in the Official Gazette of July 7, 2022[, introduces new obligations for e-commerce intermediary service providers and e-commerce service providers. Most of the provisions of the Amendment Law will enter into force on January 1, 2023 but the Amendment Law also stipulates different effective dates and transition periods for certain obligations. Amendment Law’s liability regime is tiered in line with the criteria of net transaction volumes and order numbers in a calendar year. E-commerce intermediary service providers and e-commerce service providers under this regime should follow certain compliance steps in due time.
Sorainen Provides Pro Bono Legal Assistance to Papardes Zieds
Sorainen has provided pro bono legal assistance to the Papardes Zieds association on launching its new website.
Zivkovic Samardzic Advises Prva TV, B92, and Play Radio on Obtaining National Broadcast Licenses in Serbia
Zivkovic Samardzic has advised Serbia’s commercial broadcasters Prva, B92, and Play Radio on obtaining national broadcasting licenses from Serbia’s regulatory authority for electronic media.
CMS Successful for Shell Energy Europe in Obtaining Gas Trader License for Bulgaria
CMS has successfully advised Shell Energy Europe on obtaining a license for trading natural gas in Bulgaria.