Following the formal adoption by the European Council of the directive to postpone the initial reporting deadlines for “DAC6” by six months, on 1 July 2020 the Romanian Government adopted Emergency Ordinance no. 107/2020 by which it extends the deadline for submission of reports regarding cross-border transactions under DAC6 rules.
On 11 December 2019, the European Commission (the “Commission”) presented the European Green Deal (the “Green Deal”), with the aim that European Union becomes the first climate – neutral bloc in the world by 2050. To this purpose, European Union will be transformed into a modern, resource-efficient and competitive economy where there will be no net emissions of greenhouse gases by 2050 and the economic growth will be decoupled from resource use.
According to Art. 44 of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation), ˝Any transfer of personal data which are undergoing processing or are intended for processing after transfer to a third country or to an international organization shall take place only if, subject to the other provisions of this Regulation, the conditions laid down in this Chapter are complied with by the controller and processor, including for onward transfers of personal data from the third country or an international organization to another third country or to another international organization.˶
CEE Attorneys Boanta, Gidei si Asociatii has advised the Sparking Capital investment fund on financing granted to the Romanian start-up K Factory, the developer of a digital platform that aims at increasing the performance and productivity of production companies. BPV Grigorescu Stefanica advised K-Factory on the deal.