In the context of a looming post-COVID-19 financial crisis, exacerbated by the Russian intervention in Ukraine, soaring energy and fuel prices, and rapidly rising inflation, the Romanian government has recently adopted Government Emergency Ordinance 84/2022 on combating speculative actions and amending and supplementing certain normative acts (the “GEO”). The GEO was published in the Official Gazette on 20 June 2022 and will enter into force fully in 30 days from publication. The GEO amends Law no. 11/1991 on unfair competition (the “Unfair Competition Law”) and introduces major changes to the legal framework of unfair competition rules in Romania. The GEO provides for, inter alia, sanctions for speculative actions
On 14 June 2022, Kinstellar hosted a webinar centred on current developments in the life sciences & healthcare sector across Central and Eastern Europe. We covered some of the most relevant and pressing topics currently impacting the life sciences & healthcare landscape, including (i) sector inquiries by local competition authorities in the area of life sciences; (ii) price reduction announcements and their relevance for the CEE pharma sector; and (iii) legal challenges on the use of artificial intelligence across the life sciences industry. Presentations were made by Tomáš Čihula, Eszter Takácsi-Nagy, Péter Vörös and Petr Bratský. Below we provide a brief summary: Sector inquiries
As the process of 5G coverage expansion continues, we bring you a short status update on 5G auctions and 5G rollout in the Central and Eastern Europe and Central Asia regions. Kazakhstan Frequency already allocated: 3.5 GHz. Announced / expected 5G auctions: Three lots each for 100 MHz around 3.5 GHz will be sold at auctions that are planned for the end of May 2022. One lot per city—Almaty, Nur-Sultan and Shymkent—will be offered. Stage of 5G auctions and auction method: The relevant law and regulations for holding auctions have been adopted. Auctions will be held in two stages. At the first stage the bidders' compliance with qualification requirements
Nearly a year has passed since the lapse of the transposition period for the Digital Content Directive and the Sale of Goods Directive, which brought important changes to national consumer protection rules. However, many jurisdictions still have not implemented the Directives. We are closely monitoring the implementation process in our EU jurisdictions. Below is an overview of the implementation status of the Directives in the remaining EU Member States where Kinstellar operates that have not yet implemented the Directivesand a brief summary of the main changes and the expected country-specific implications for business. In addition, we bring you information from several non-EU countries that have taken inspiration from the
Since the war in Ukraine became the main subject of newspaper headlines, the amount of related misinformation spread online has reached new heights. As a result, several governments have adopted legislation that provides tools to combat the spread of misinformation. Below is an overview of legislation used to combat misinformation in the Central and Eastern Europe and Central Asia regions: Bulgaria It is worth noting that on 1 March 2022 the Bulgarian electronic media watchdog decided to suspend the distribution of TV channels “Russia Today” and “Sputnik” in line with the EU response to Russian military activity in Ukraine.
With the invasion of Ukraine and a substantial increase in cyberattacks on governments, critical infrastructure and other strategic targets, the topic of cybersecurity has gained even more importance. Below is an overview of the steps that national security authorities have taken to strengthen national security. Bulgaria On 24 November 2021, the Bulgarian government designated the State e-Government Agency as a national coordination centre for the purposes of Regulation (EU) 2021/887. The establishment of the coordination centre is expected to contribute to achieving a high level of network and information security, thus boosting the standards and
All of us have concerns regarding data privacy in the metaverse. Countless questions come to mind, such as: What is the metaverse? Can a digital personality be considered as personal data? What happens if digital data is processed? In this short article we touch on the metaverse’s main data privacy concerns. What is the metaverse? The metaverse is a virtual world that relies on multiple technologies such as virtual reality, blockchain, artificial intelligence, etc. There is no longer just one world like the real world anymore. A new virtual-world era has begun with the advent of different metaverses such as Horizon, Decentraland, Sandbox, and Upland, and it appears that their number will continue to increase.
Today’s uncertainties at the European Union’s eastern border have left companies questioning the safety of their people and the continuity of their operations in that part of the world. Businesses in the IT and BPO sectors that had found talent and growth opportunities in counties such as Ukraine, or Moldova are now rethinking their strategy and options to move operations across the border, either temporarily or permanently. Our team in Bucharest has prepared a quick overview of the most important aspects that you need to consider if you decide to move your operations to Romania. Download and read here:
Kinstellar is delighted to announce that it has advised S Immo AG, a leading Vienna-listed real estate investor and developer, on the acquisition of EXPO Business Park, a three-building office complex in Bucharest, Romania, from Portland Trust. The transaction value remains confidential but, when closing occurs, it is estimated to be one of the largest commercial property transactions in Romania for 2022. Kinstellar advised on all legal aspects, including full due diligence, transaction documentation, and other matters. S Immo AG is a leading real estate investment company focusing on Austria, Germany and CEE, with 70% of its portfolio consisting of commercial properties (offices, shopping centres and hotels). With
Further to the transposition into Romanian law of the Internal Market in Electricity Directive (EU) 2019/944 in December 2021 (that we previously wrote about here), the Romanian Energy Regulatory Authority (“ANRE”) has recently adopted Order no. 12/2022 for the approval of the procedure on the method of setting administrative sanctions as a percentage of turnover following control activities (“Order no. 12/2022”) and Order no. 13/2022 for the approval of the procedure on the method of setting administrative sanctions as a percentage of turnover following investigation activities (“Order no. 13/2022”) (together the “Orders”). The Orders should provide more predictability to energy market participants as to
The European Commission published, on 8 March 2022, its REPowerEU Communication addressed to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions on Joint European Action for more affordable, secure and sustainable energy (the “Communication”). Context and aim of the Communication The Communication outlines the need for a REPowerEU plan meant to address the EU’s need for energy independence, given the current geo-political context. The Commission declares itself ready to implement the plan by this summer, in cooperation with the Member States. Against this background, the Communication highlights the upmost importance