Europe

THE ULTIMATE BENEFICIAL OWNER IN THE SCOPE OF COMBATING MONEY LAUNDERING AND TERRORIST FINANCING

Summary:
The regime of Law no. 83/2017, of 18 August has strengthened the rules and obligations aimed at preventing the use of the financial system and of specially designated activities and professions for the purposes of money laundering and terrorist financing, imposing on the obliged entities several obligations, namely of reporting and identification.

Nowadays, one of the most complex legal issues arising from the above-mentioned obligations is related to the identification of the Ultimate Beneficial Owners of legal persons. In fact, in order to mitigate the difficulties inherent to this identification, it is extremely important to analyse and know the criteria established by law, essential for a correct interpretation and application of the regime. Read more…

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Maxima Legal announces Maxim Ali`s appointment as a partner

Maxima Legal announces that Head of IP/IT Practice Maxim Ali has become a new firm`s partner. In his new role, Maxim will continue to work on the development the practice, which has turned into one of the company’s fastest-growing areas in last few years.

“Maxim joined Maxima Legal in 2017, and headed the practice in early 2018. The results he has managed to achieve in just a few years are really impressive. Today IP/IT specialists are confidently taking on new tasks for the Russian legal practice, thanks to which Maxima Legal has the widest experience in supporting complex projects, from PPP in the IT sphere to technological products like blockchain. I am confident that the new position will help Maxim and the whole team reach an even higher, qualitatively different level”, said Maxim Avrashkov, Managing Partner at Maxima Legal.

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Maxima Legal has strengthened its team and expanded its tax practice expertise with administrative law issues

Nikita Deynega, an expert in Russian and international taxation as well as customs and antimonopoly regulation, has joined Maxima Legal. As a Senior associate, Nikita led the firm’s tax practice, which started also cover a wide range of administrative law matters.

Nikita has more than 12 years’ experience in the legal sphere. Prior to joining Maxima Legal, Nikita worked at Gazprom Neft PJSC. As in-house lawyer Nikita specialised in tax, customs and antitrust disputes resolutions. A positive economic effect of disputes settled by Nikita was over than 20 billion RUB.  The lawyer also provided consulting support to the company’s in-house legal service clients, including top finance executives.

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E-LEGAL® NEWSLETTER – MAY 2021

I. EDITORIAL – INJUNCTION PROCEDURE ON LEASES; LIMITATIONS ON THE REDACTION OF GENERAL CONTRACTUAL CLAUSES; PORTUGUESE CHARTER OF HUMAN RIGHTS IN THE DIGITAL AGE; EXCEPTIONAL AND TEMPORARY SUSPENSION OF ESSENTIAL SERVICES SUPPLY CONTRACTS

The month of May was marked, at the legislative level, by the approval and publication, on the one hand, of the Decree-Law no. 34/2021, of May 14, approving the Injunction Procedures for Leases (IMA) and, on the other hand, of Law no. 32/2021, of May 27, which establishes limitations on the redaction of contractual clauses and provides for the creation of a system for the control and prevention of abusive clauses, amending Decree-Law no. 446/85 of 25 October 1985, which establishes the legal framework for general contractual clauses. Read more…

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IS STORING DATA IN THE CLOUD OR THE USE OF WEB-BASED APPS NON-COMPLIANT AFTER SCHREMS II?

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The USA has imposed sanctions on Russian suppliers of medical devices and equipment

On March, 2021 the US Department of Commerce has imposed sanctions on Russian suppliers of medical devices and equipment due to suspicion of developing chemical weapons1.

9 Russian companies were included in sanction list

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New article 1360.1 will be implemented to the Russian Civil Code

The Draft Law № 912458-7 “On amendments to the part four of the Russian Civil Code”has passed through the third reading in the State Duma on 25 March 2021. The Draft Law implements article 1360.1 to part four of the Russian Civil Code.

According to the new article, under the conditions provided by an international treaty, the Government may allow to use  a patented invention in generic medicines for production in the Russian territory for the purpose of subsequent export without the patentholder’s consent, with prior notification and compensation of the patentholder.

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Rospatent plans to launch the register of pharmaceutical patents in 2021

The draft law “On amendments to Federal Law “On drugs circulation” had been already amended with a provision on the creation of a unified Register of pharmacologically active substances in 2019.

As of the date, the Federal Service for Intellectual Property has developed and created a prototype of the Register of Pharmacologically Active Substances, protected by patents for invention. At the briefing on the results of the Rospatent College in 2020 Grigory Ivliev, the head of Rospatent, stated that the launch of the Registry is scheduled for 2021.

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E-LEGAL® ANNUAL NEWSLETTER

EDITORIAL
The year of 2020 was particularly prolific at legislative level, both in the scope of the Covid-19 legislation, which aimed to monitor and adapt to the evolution of the pandemic caused by the Covid-19 disease, and in the most diverse socio-economic spheres and areas of Portuguese society, including, by way of example, the areas of taxation, housing,  leasing, and the area of justice (administrative, tax, corporate, labour, real estate, and financial areas).

In fact, despite the numerous legislation directly or indirectly related to the Covid-19 disease pandemic, the year of 2020 was also marked by several diplomas unrelated to the
pandemic and which deserve special mention. In this sense, and despite the additional difficulties in selection, we highlight the main laws and rulings published during 2020. Read more…

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New version of art. 1360 of the Russian Civil Code

The Russian President approved Law No. 107-FZ “On amendments to art. 1360 of the 4th part of the Russian Civil Code”(“Law”) on 30 April 2021.

It should be noted that the draft law on the mentioned amendments was presented to the State Duma in November 2019 and passed in its first reading only on 15 December 2020.

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