Are your Third-Party Arrangements Compliant with EBA Outsourcing Guidelines already?

Authors: Svetlina Kortenska and Atanas Grigorov Are you a compliance professional at a credit institution, a payment institution and electronic money (e-money) institution, or a third-party provider to such institution? If so, have a quick look at this compliance reminder with a view of the forthcoming deadline on 31 December 2021. On 30 September 2019, the European Banking Authority’s (“the EBA”) revised guidelines[1] regarding outsourcing arrangements (“the Outsourcing guidelines” or “the Guidelines”) entered into force. Pursuant to the Guidelines, regulated institutions will…

Turkey: Q2 Competition Law Bulletin 2021

The Preliminary Report on E-marketplace Platforms Sector Inquiry (the “Preliminary Report”) published by the Turkish Competition Authority (the “TCA”) was the most significant competition law development during the second quarter of 2021. On 7 May 2021, the Preliminary Report, which contains the Competition Board’s (the “Board”) initial findings of the sector inquiry initiated on 11 June 2020 and policy suggestions, was published on the TCA’s website for public consideration. The Preliminary Report explores competition law concerns associated with the e-commerce sector and…

Amendments to the Turkish Execution and Bankruptcy Law

Author: Berkay Gul, KDK LawFirm The Law to Amend the Execution and Bankruptcy Law and Other Laws numbered 7327 (the “Amendment Law”), which entered into force on 19 June 2021, amends several different laws, particularly the Execution and Bankruptcy Law (the “EBL”), and brings with it fundamental changes, especially to the concordat institution. Along with the amendments made to the concordat provisions, the bankruptcy liquidation process has also been revised. 1. Amendments to the Concordat Provisions The concordat had gained currency, again, following the amendments made to the EBL…

Lease of Office Buildings and Business Premises in the Future

On 19 June 2021, the Act amending the Housing Act (Zakon o spremembah in dopolnitvah Stanovanjskega zakona; SZ-1E) entered into force.

Current Developments in Crypto Assets

Authors: Gulce Gurdal and Can Baykut  On 16 April 2021, Turkey published its first regulation regarding the use of crypto assets in payments, the Regulation Prohibiting the Use of Crypto Assets in Payments (the "Regulation") by the Central Bank of the Republic of Turkey. Accordingly, crypto assets are defined as "intangible assets created virtually by using the distributed ledger technology, or a similar technology that is distributed through digital networks, and are not qualified as fiat money, bank money, electronic money, payment instrument, security, or any other capital market instrument.”…

Application of Law No. 805 in Agreements Involving a Foreign Party

In a dispute arising from an agreement executed in a language other than Turkish, particularly in cases where one of the parties is non-Turkish, there is a risk of Turkish courts assessing such agreement’s validity under Law No. 805 on the Mandatory Use of Turkish in Commercial Enterprises.

Eleven SEE Legal Partners among IFLR1000 Women Leaders 2021

SEE Legal Group is proud to announce that 11 female partners have been recognised by the special edition of Europe, Middle East and Africa IFLR1000 Women Leaders 2021 as part of the leading female transaction lawyers in the world.

How to Choose the Right FIDIC Contract

The standard contracts constituted by FIDIC based on the organisation’s years of experience are frequently used in international projects, as they bring uniformity to technical, operational and legal matters.

Is Tax Brawl between the Serbian Government and Freelancers about to End?

The Serbian Government announced that it has reached a final deal with a group representing interests of freelance internet workers on the partial amnesty for the unpaid past income tax and social security contributions and on the new rules of taxation of their income.

Polenak Law Firm Contributes to Lexology Getting the Deal Through - Corporate Governance 2021

Kristijan Polenak, managing partner and Tatjana Shishkovska, partner at Polenak Law Firm authored the North Macedonia Chapter on Corporate Governance, 20th edition, published in May 2021 by Law Business Research. The chapter is available for download at the following link. The chapter has been reproduced with permission from Law Business Research Ltd. where the article was first published in May 2021.

BDK Advokati Contributed the Serbian Chapter to the 2021 Chambers Global Practice Guide on Life Sciences

The Serbian chapter gives an overview of the regulatory regime for the life sciences sector in Serbia.

Life after Brexit: A Brief Estimation of Particular Issues Raised in Greece in the Pharmaceuticals Sector following the December 2020 Trade Agreement

Transfers of medicinal products from the UK to EU countries, which until now were considered as intra-EU transactions, are now imports from a third country and they should be treated in all their aspects as such.