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The Romanian Financial Supervisory Authority (FSA) released for public consultation a draft regulation proposing amendments to its Regulation 5/2019 applicable mainly to investment firms and, in limited cases, to credit institutions providing investment services and/or activities and alternative fund managers.

Corporate reputation is an organisation's most valuable intangible resource and may be defined as the public perception of the company and how it operates. It has its monetary expression and influences financial and social capital as well as market share. It can be positive and negative. Reputation is an essential aspect of any business. In today's digital age, a company's reputation can be easily tarnished through websites, social media, online reviews and news articles.

Wolf Theiss has advised India's automotive systems and components manufacturer Sona BLW Precision Forgings on the EUR 40.5 million acquisition of a 54% stake in Serbia's radar sensor and embedded systems company Novelic. Schoenherr, working with India's Priti Suri & Associates, advised Novelic's founders on the sale.

The European Court of Justice (CJEU) likely anticipated a wave of GDPR-related referrals. Few such matters receive as much attention from the public and lawyers as questions on GDPR damages.

On 26 May 2023 the Parliament of Moldova passed Law No.°126, which among other things implements certain novelties to the Moldovan Law on Notarial Procedure. Those relating to electronic notarisation will enter into force when the technical conditions referred to in the law are in place, but not later than 23 June 2026.

A long-awaited amendment to the Czech Competition Act (Act) is now on the horizon as it was approved by the Chambers of Deputies and is ready for sign-off by the Senate and the president. Covering primarily the implementation of the ECN+ Directive, it also incorporates changes to the Act. At the same time, the Czech Competition Authority (CCA) has been updating its policies on compliance programs and vertical leniency. From this perspective, how the CCA treats vertical (distribution) agreements will probably change considerably.

Gift cards have become more and more popular. They are bought as presents and some shops have a return policy where items bought physically can be exchanged only for a gift card of the equivalent amount. Are gift cards therefore to be regarded as money in Poland? If so, are the issuers required to obtain authorisation as a payment or electronic money institution?

On 12 July 2023 the general or ex officio tool of the FSR became applicable. The tool empowers the European Commission (EC) to investigate cases where foreign subsidies are suspected of having a distortive effect on the EU's internal market, even if they do not fall within the scope of the other two FSR tools (M&A tool and public procurement tool). This gives the EC a powerful instrument to tackle market distortions from subsidies granted by third countries.

The implementation of the deposit return system ("DRS") for bottled water, soft drinks, beer, cider, wine and spirits ("DRS products") in disposable plastic, glass or metal packaging of between 0.1l and 3l, will kick-off on 30 November 2023. As of that date, Romanians will be able to return the packaging of these beverages to the reverse vending machines provided by retailers or producers, as per the legal provisions.

"Bulgaria transposed the Restructuring Directive's prohibition to terminate contracts via ipso facto clauses, but also (deviating from the Directive) prohibited contractual set-off in restructuring, thus rendering the preservation of many contracts performed via contractual set-off / netting of payment meaningless. So, in drafting ipso facto clauses the impossibility to perform contracts in restructuring, due to the contractual set-off prohibition, may be utilised as an additional trigger for termination, now".

Montenegro intends to implement a profound shift in its spatial planning and construction regulations with the pending adoption of three distinct legal acts that will regulate the country’s spatial planning, the construction of facilities, and legalisation procedures.

Bulgaria is among a minority of EU countries that have not yet adopted a foreign direct investment (FDI) screening regime. This is about to change with the introduction in late June of a bill on the amendment of the Investment Promotion Act, implementing the screening mechanism under Regulation (EU) 2019/452.

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