You may have noticed that there has been a discussion about an amendment to the Act on Protection of Competition in recent weeks. If it passes the legislative procedure, what would it mean in practice?

In recent months, Bulgaria has undergone significant changes to its Anti-Money Laundering (AML) legislation intending to achieve the long-overdue complete transposition of the EU 2018/843 Directive into national law and meeting the higher standards set forth in the Financial Action Task Force’s (FATF) recommendations on Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT), especially following the country’s inclusion in FATF’s so-called “grey list” of jurisdictions under increased monitoring.  Naturally, these changes give rise to a number of new obligations for businesses to comply with. The purpose of this article is to provide an overview of the most significant changes.

This article follows up on the article in the previous issue titled "Transformative Legal Changes: Slovakia's New Transformations Landscape" where colleagues outlined the permissible changes in legal form in the Slovak Republic.

Peter Ruff was appointed to Partner at Pontes Budapest, where he will lead the corporate, M&A, private equity, and venture capital practices of the firm.

Have you noticed the latest development in the placement of behavioural advertising? You have basically a binary choice between consenting to the processing of a "complex" bundle of your personal data for behavioural advertising purposes or paying a fee. After paying the fee, you can use the platform without being targeted by behavioural advertising.

A popular practice among consumers under the age of 30 is to purposely search for better-value alternatives to items from well-known brands. Started to gain followers on social media, this idea has become a phenomenon, with entrepreneurs setting up e-stores, boldly claiming to sell dupes (short for "duplicates"). Others sell their own products "inspired" by current trends. And while supply is generally justified by demand, it raises the question of whether duplicates are an innocent more affordable alternative or an unfair profiting on the back of another. Public opinion is divided, but we are going to examine what the law says.

The Supreme Court of Cassation of the Republic of Bulgaria recognized under "exceptional circumstances," the right of an active partner in a limited liability company to act as an ad hoc representative. This decision references to Articles 6 and 13 of the European Convention for the Protection of Human Rights and Fundamental Freedoms (ECPHRFF) and the case law of the European Court of Human Rights (ECHR).

As we outlined in our earlier article, the option of a demerger by means of a spin-off (odštiepenie) is a significant innovation introduced into the Slovak corporate landscape by the Transformations Act.

1 March 2024 marks the date when the Transformations Act No. 309/2023 came into force in Slovakia. This regulation comprehensively outlines the procedures for national and cross-border mergers, divisions, and conversions of companies and cooperatives, moving away from the previously scattered provisions in the Commercial Code.

A long-awaited amendment to the Czech Medicines Act came into force on 1 January 2024. What practical impact will it have?

Last year's "digital amendment" introduced many changes to Czech corporate law. But one change that is often overlooked is the amendment to the Czech Public Registry Act.

There has been much discussion about protracted shortages of critical medicines in the Czech Republic over the last couple of months. Many national measures have been adopted. At the European Union level,the Voluntary Solidarity Mechanism for medicines has been put in place.

Early-stage startups often face a significant challenge due to their very limited runway – as usually they burn money faster than they are able to acquire funding – which makes external capital crucial for sustainability. From the perspective of potential investors determining the worth of these startups is a key factor in deciding whether to invest or not into the specific project which is complex and time consuming, a luxury startups often lack.

Anyone who has seen venture capital investments has probably encountered the expressions “vesting” or “reverse vesting”.

On 29 June 2023, Deforestation-free Products Regulation ((EU) 2023/1115) entered into force with the aim of minimising the EU’s contribution to deforestation and forest degradation worldwide. Combating deforestation and forest degradation constitutes an important part of the package of measures needed to reduce greenhouse gas emissions and global biodiversity loss.

The Act No. 497/2022 Coll. on the screening of foreign investments and on amendments and supplements to certain acts, as amended, and Slovak Government Regulation No. 61/2023 Coll. establish critical foreign investments rules (the "FDI legislation"). In cooperation with the Ministry of Economy of the Slovak Republic (the "Ministry") we have prepared an overview of some practical issues in connection with the FDI legislation.

Are you going to argue legal professional privilege? If so, you may be interested in a recent judgment of the Court of Justice of the European Union (the "CJEU"), which significantly expands the scope of legal professional privilege.

The Green Deal for Europe aims to boost the efficient use of resources, helps to keep sustainable environment policy and transforms particular economies of the EU countries by reducing greenhouse gas emissions, by rebuilding immovables in order to reach higher level of energy sustainability, by introducing products with longer sustainability time, by developing products that may be easily recycled, by combating global deforestation, and much more.