ESOPs in Serbia
February 2023
Employee share-based incentives are still relatively rare in Serbia, compared to more traditional cash bonuses. The Serbian Companies’ Act was updated in 2018 to provide, for the first time, a basic framework for implementing share incentive plans in a limited liability company, which is by far the most popular corporate form in Serbia. Share-based incentives in public joint-stock companies have not gained prominence due to undeveloped capital markets. Salary tax and social security contribution exemption were introduced in 2019 for stock options and underlying shares offered…
Key Points From EDPB’s Guidelines on the Right of Access
March 2022
Author: Pablo Perez Laya, BDK Advokati
Arts. 12 and 15 of the EU Data Protection Regulation (EU) 2016/679 (“GDPR“) regulate the right of access (“RoA“). This right consists of three main components: (i) confirmation of whether personal data are processed; (ii) access to the personal data; and (iii) information about the processing itself.
The European Data Protection Board (“EDPB“) adopted, on 18 January 2022, the Guidelines 01/2022 on data subject rights – Right of access (“Guidelines“), to provide more precise guidance on how to implement the RoA in different…
How People Fleeing a Conflict Can Stay and Work in Serbia
March 2022
Author: Marija Gligorevic, BDK Advokati
While the European Union has introduced special temporary protective measures for people fleeing the war in Ukraine, Serbia is currently not faced with a mass influx of displaced persons from that country. As a matter of principle, people fleeing the war in Ukraine or persecution in Russia may avail themselves in Serbia of the asylum procedure. Individuals from these two countries may also enter and work in Serbia based on general rules applicable to foreigners.
Asylum
Foreigner is eligible for refugee status in Serbia if they have a well-founded…
SELIH & PARTNERJI Contributed to the Chambers Environmental Law 2021 Global Practice Guide
December 2021
SELIH & PARTNERJI's partners Blaz Ogorevc, Spela Remec and Miha Stravs have contributed the Slovenian chapter to the Chambers and Partners' Environmental Law 2021 Global Practice Guide.
The guide provides the latest legal information on environmental incidents, permits and damage; corporate, personal, lender and civil liability; climate change and emissions trading; asbestos; waste; environmental disclosure and information; environmental due diligence; and taxation from multiple jurisdictions.
In the introduction, the guide considers some of the main trends and themes in…
Financial Action Task Force's Updated Guidance: Virtual Assets and Virtual Asset Service Providers
Authors: Mayis Busra Mollaahmetoglu, Can Baykut
The Guidance mainly aims to aid private sector entities engaging with virtual asset activities or operations and help them to understand and comply with their AML/CTF obligations. Within this scope, in the Guidance, the FATF clarifies the definitions of virtual assets and VASPs and addresses new areas concerning virtual asset space, such as non-fungible tokens, stablecoins, peer-to-peer transactions, and decentralised finance. The Guidance further sets out the requirements for VASPs and suggestions for countries to adopt to oversee compliance with…
SELIH & PARTNERJI Contributes to Chambers 2021 Insolvency Global Practice Guide
November 2021
SELIH & PARTNERJI's partner Blaz Ogorevc and associate Lenart Kmetic have contributed to the Slovenian chapter of the Chambers & Partners 2021 Insolvency Global Practice Guide.
The guide provides the legal and non-legal professionals with expert legal commentary on the key insolvency and restructuring issues for businesses, such as various types of voluntary and involuntary restructurings, reorganisations, insolvencies and receiverships; out-of-court restructurings and consensual workouts; secured and unsecured creditor rights; international/cross-border issues and processes;…
The General Court Underlines The Importance of Standstill Obligation Before Obtaining Merger Approval
October 2021
Authors: Natasa Pipan Nahtigal, Spela Remec
In its recent judgement, the General Court confirmed the importance of observing the standstill obligation in mergers that are subject to approval by the competent competition authorities. The Court only slightly reduced the record-breaking gun-jumping fine imposed by the European Commission.
A. What is gun-jumping and who needs to consider it?
In order to ensure that the most important mergers will bring about welfare for the society or, at minimum, not have a negative effect on the competition on the market, such transactions are subject…
Understanding Cryptocurrency And Distributed Ledger Technology in the Albanian Legal Context
October 2021
Blockchain represents one of the 21st century’s most impactful inventions. In addition to creating cryptocurrencies such as Bitcoin, this technology enables smart contract functionality and supports decentralised, secure, and private transactions. By design, blockchains enable decentralised functionality for many of today’s business applications and transform traditional centralised information systems. In a few chapters, KALO & ASSOCIATES will summarise the legal and regulatory developments of crypto and blockchain in Albania by explaining what they are, what they are not,…
eSports in Serbia and Montenegro: Selected Legal Issues
October 2021
eSports is a fast-growing segment of the larger industry of video gaming, and with the ever-increasing viewership base, it threatens to surpass the popularity of traditional sports. There are various stakeholders involved, like game developers and publishers, event organisers, leagues, teams, players, streamers, and sponsors, and there is a multitude of legal matters to be considered when engaging with the industry. It is also reasonable to expect that the growing popularity will eventually lead to the regulation of the industry, similarly to its traditional counterpart.
To the…
Are You Sure That You Own Intellectual Property Rights In Works Created By Your Slovenian Employees?
September 2021
Author: Natasa Pipan Nahtigal, SELIH IN PARTNERJI Law Firm
Although the laws on employment-related intellectual property rights have remained unchanged for many years, in practice, we often see cases of employers neglecting this particular area. As a result, a problem may arise in instances when, for example, an employer wishes to transfer or license an IP right, sue a third party for infringement of an IP right, or decides to sell a business. The problem with IP ownership is customarily identified during due diligence. In such circumstances, dealing with the legal issues with…
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…
