CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Investment firms, which operate in financial markets and provide investment services to third parties, were subject to the same organizational regulations as credit institutions, despite their different business and risk profiles. Their activities are regulated by MiFID II, which was transposed by the Austrian Securities Supervision Act 2018.
In today’s global economy, credit institutions play a critical role in providing financial services to individuals, businesses, and governments. However, the failure of a credit institution may result in far-reaching consequences, as we have recently seen with banking crises in Switzerland, the US, and, potentially, Europe.
In the context of the ESG framework, under the planned allocation within the EU, Slovenia should (according to the EIB) allocate EUR 520 million per year to renewable energy sources and their efficient use, and EUR 780 million per year if we add transport, waste, and water to the equation.
Bojovic, Draskovic, Popovic & Partners has announced the launch of its Environmental, Social, and Governance department led by Partner Milica Pesteric.
Glatzova & Co has advised the KBC Bank on its acquisition of a 50% stake in ESG scoring and reporting start-up Digital & Legal.
Harrisons has advised the EBRD on its EUR 5 million loan to Banca Intesa Belgrade for on-lending to women-led businesses.
Cobalt has advised Latvian construction equipment rental company Storent Holdings on its EUR 10.5 million issuance of bonds with an 11% interest rate and December 2025 maturity as well as on their listing on the Baltic Bond List of Nasdaq Riga on June 27, 2023.
