Europe

E-LEGAL® NEWSLETTER – AUGUST 2021

I. EDITORIAL – DIRECTIVE (EU) 2019/1153 AND GENERAL REGIME FOR CREDIT INSTITUTIONS AND FINANCIAL COMPANIES; LEGAL REGIME FOR VENTURE CAPITAL, SOCIAL ENTREPRENEURSHIP AND SPECIALISED INVESTMENT

The month of August was characterised, in legislative terms, by the approval and publication of the Law no. 54/2021, of August 13, which transposed into national law Directive (EU) 2019/1153, which sets out rules to facilitate the use of information for the prevention, detection, investigation or prosecution of criminal offences, and also amended the General Framework of Credit Institutions and Financial Companies. On the other hand, we highlight Decree-Law no. 72/2021, of August 16, which amended the Legal Framework for Venture Capital, Social Entrepreneurship and Specialised Investment, revised the framework applicable to the venture capital investment activity and also amended Decree-Law no. 77/2017 of June 30, which creates measures to boost the capital market, with a view to diversifying corporate financing sources. Read more…

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E-LEGAL® NEWSLETTER – JULY 2021

I. EDITORIAL – CAPITALISATION AND RESILIENCE FUND; EXTENSION OF BANK MORATORIA; MSE SUPPORT LINE; TECHNOLOGICAL FREE ZONES

On the legislative level, July was characterized by the approval and publication, on the one hand, of Decree-Law no. 63/2021, of July 28, which created a capitalisation fund for commercial companies, called the Capitalisation and Resilience Fund and, on the other hand, of Law no. 50/2021, of July 30, which extended bank moratoria, amending Decree-Law 10-J/2020 of March 26. Read more…

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Foreign insurance organizations will be able to establish their branches on the territory of the Russian Federation

On August 22, 2021, Federal Law No. 343-FZ dated 02.07.2021 “On Amendments to the Law of the Russian Federation “On the Organization of Insurance Business in the Russian Federation” and Certain Legislative Acts of the Russian Federation” (“Law”) comes into force. This regulatory act is aimed at fulfilling Russia’s obligations to the WTO on the admission of branches of foreign insurers to the territory of the Russian Federation.

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Review of the Presidential Decree on temporary measures to regulate the legal situation of foreign citizens and stateless persons in Russia during the period of overcoming the consequences of COVID-19 spread

On June 16, 2021, a new decree of the Russian President on temporary measures to regulate the legal situation of foreign citizens and stateless persons in Russia during the period of overcoming the consequences of the spread of COVID-19 (“Decree”)1 came into force. Its main provisions are as follows:

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The Supreme Court released ex-employees from incurring costs

The Judicial Chamber on Civil Cases in its recent Ruling1 once again consolidated guarantees to employees and placed their rights and position above the interests of the employer.

The employee brought an action against his ex-employer for declaring illegal the order on dismissal, restoring him to work, collecting salary arrears from the defendant in his favor, average earnings for the time of forced absenteeism and compensation for moral damage. During the consideration of this dispute, it became necessary to conduct a forensic examination, the payment of which was assigned to the employee, requesting its appointment. After the courts of the first and appellate instances refused to satisfy his claims, the employee sued to collect costs in his favor, referring to the application of Article 393 of the Labor Code of the Russian Federation.

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New rules for medical devices registration in Eurasian Union

Eurasian Economic Commission adopted Recommendations No. 15 “On amendments to Rules for medical devices registration in Eurasian economic union” on 29 June 2021. The Rules were approved by Eurasian Economic Commission on 12 November 2018.

New Recommendations amended the rules for the registration of different medical devices. New rules shall be applied from 2 July 2021.

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To hold a remote meeting will be easer

On July 1, 2021, Federal Law No. 225-FZ of 28.06.2021 “On Amendments to Part One of the Civil Code of the Russian Federation” (the Law) aimed at improving and increasing the effectiveness of holding remote meetings came into force.

The last year of the pandemic has revealed the urgent need for legislative consolidation and settlement of issues related to holding meetings remotely. The adoption of the Law unambiguously solves some of the accumulated problems.

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The Constitutional Court of the Russian Federation clarified that the prohibition of the publication of personal data of a medical worker by an online publication should not violate the users’ right to receive information about the quality of services pro

In a Resolution dated May 25, 20211, when examining the complaint of MedReyting LLC, the Constitutional Court of the Russian Federation clarified the procedure for applying para. 8, part 1, art. 6 of the Federal Law “On Personal Data”2, according to which the processing of personal data is necessary for the professional activity of a journalist and (or) the legitimate activity of the mass media or scientific, literary or other creative activities, provided that the rights and legitimate interests of the subject of personal data are not violated.

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New changes to the current regime of remote sale of medicinal products

From September 1, 2021, amendments to the Rules1 for issuing Permits for the Retail Sale of Medicines for Medical Use by remote Means, the Implementation of such sale and the delivery of medicines to Citizens, approved by the Decree of the Government of the Russian Federation dated 31.05.2021 N 827 (hereinafter – the Rules), will come into force.

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International Lawyers Network Welcomes New Member in Cyprus

The International Lawyers Network (“ILN”) is thrilled to welcome a new member firm, LLPO Law Firm, in Nicosia, Cyprus.

LLPO Law Firm was established at the end of 1999 as the result of two existing law firms merging together. The result of the merger was the creation of one of the first law firms in Cyprus to be founded on the equal partnership model. At the beginning of 2006, LLPO initiated the formal internationalization of its services, launching representative offices in Athens, London, and Bucharest. Today at the core of the firm’s sustainable expansion model lies the client-centric approach and sectoral expertise of its lawyers, in tandem with the ongoing utilization of innovative technology. Through its dedicated legal team, LLPO provides services in all major areas of the law with a particular focus on Corporate Services, Financial Services, Litigation, and Advisory.

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