🔎 When is a digital service really "free"? 🇷🇸 Serbia’s new Consumer Protection Act, effective from 2 August 2026, marks an important step in aligning domestic consumer law with evolving digital business models. The new framework brings digital content, digital services, and goods with digital elements firmly within the scope of consumer protection rules, introducing new obligations around conformity, updates, modifications, liability, and consumer remedies. 📱💻 One of the most significant changes is that consumer protection may apply even when a consumer does not pay a monetary price. Where personal data forms part of the economic logic of a digital service, businesses may face consumer law obligations that traditionally applied only to paid products and services. At the same time, Serbia is preparing a new Personal Data Protection Act, which is expected to further impact compliance for organisations operating in the digital environment. While consumer protection and data protection remain separate legal frameworks, they increasingly intersect in practice, especially where personal data is used for advertising, profiling, analytics, personalisation, or AI-driven functionalities. ⚖️ For digital businesses, this means that product design, customer journeys, privacy practices, and compliance strategies can no longer be considered in isolation. Understanding where consumer rights end and data protection obligations begin is becoming essential. In her latest article, Sonja Stojčić, Senior Associate from our Belgrade office, examines these important developments and discusses what businesses should be reviewing now to prepare for the changing regulatory landscape. 🔗 Read the full article here: https://lnkd.in/diUEVFaS #ExceptionalTogether #InTheKnow #ConsumerProtection #DataProtection #DigitalServices #Privacy #TechnologyLaw #ConsumerLaw #DigitalEconomy #Compliance #AI #Serbia #PrivacyLaw #TechRegulation

🇭🇺 Our team has advised Guardian Europe on the sale of its former glass manufacturing facility in Orosháza, Hungary, to Karakan Foods, a subsidiary of Turkish food producer Doğuş Çay. The Doğuş Çay Group plans to establish its first manufacturing facility outside Turkey at the site, with the investment expected to create more than 440 new jobs, bringing employment at the site above the levels seen during its previous glass manufacturing operations. 💼 Our team provided comprehensive legal support throughout the transaction, and was led by Barnabás Sági (Counsel), with support from Monika Frank (Of Counsel), Bertalan Ványa (Senior Associate) and Anna Szilágyi (Associate). 🔗 https://lnkd.in/dE3cy7zm #ExceptionalTogether #DoneDeals #Hungary #MandA #Acquisition #Manufacturing

📢 🇺🇦 Our overview on key reporting requirements for Ukrainian businesses holding accounts with foreign banks and financial institutions is now available, authored by our #Banking & #Finance team in #Kyiv: Illya Muchnyk (Partner, Head of Banking, Finance & Capital Markets and Firm-wide Head of FinTech), Oleksandra Poliakova (Managing Associate), and Zakhar Oprysko (Associate). Among other things, the practical overview covers: 🔸 Who needs to report 🔸 When does the reporting obligation arise? 🔸 Which forms need to be submitted? 🔸 How are reports submitted? 📌 Read the full paper in English here: https://lnkd.in/dwFZWrdK; and in Ukrainian here: https://lnkd.in/dNNFkzGu. Contact Illya Muchnyk for more information on foreign account reporting requirements. #ExceptionalTogether #InTheKnow #Ukraine #BankingAndFinance #NBU #CurrencyRegulation #ForeignAccounts #RegulatoryCompliance #FinancialServices #DoingBusinessInUkraine #UkraineReconstruction

💶 New VAT relief is now available in Romania for certain taxpayers with cancelled VAT registrations. But who can actually benefit? On 24 August 2026, Law no. 177/2026 was published in the Romanian Official Gazette, introducing targeted relief for certain historical VAT liabilities relating to periods during which a taxpayer’s VAT registration was cancelled. ➡️ The relief covers certain additional VAT liabilities and related late-payment interest and penalties assessed by the tax authorities for tax periods starting from 1 January 2019. It applies where the taxpayer’s VAT registration was cancelled because it: 🔸 was declared inactive; 🔸 failed to submit VAT returns for the relevant consecutive periods; or 🔸 submitted VAT returns but reported neither purchases nor supplies. 💡 What does this mean in practice? Qualifying outstanding liabilities already established through an assessment decision will be cancelled ex officio by the competent tax authority. Where qualifying amounts have already been paid or otherwise settled, taxpayers may request a refund. ⚠️ An important limitation: the relief does not apply to transactions for which VAT was separately stated on invoices or equivalent documents, or was collected, in whole or in part, from customers. The Law also includes a separate relief measure for agricultural cooperatives concerning certain VAT liabilities related to purchases of agricultural machinery. 📌 What comes next? ANAF is required to issue the implementation procedures within 30 days from the Law’s entry into force. Taxpayers whose VAT registration was cancelled from 2019 onwards should therefore review the grounds for cancellation, any related tax assessment decisions and amounts already settled, as well as whether VAT was invoiced or collected from customers. 👇 Read our full analysis here: https://lnkd.in/dp3jmVzj, written by Carmen Mazilu, Senior Tax Advisor in our Bucharest office. #ExceptionalTogether #InTheKnow #Romania #VAT #Tax #TaxLaw #TaxUpdates #ANAF

📢 Our team has advised Polaris, an investment house focused on supporting mid-sized companies in the Nordics, on its partnership with TEFCOLD, a leading European provider of commercial plug-in refrigeration solutions. Through the transaction, Polaris has acquired a majority stake in TEFCOLD, while founder Torben Christensen and his family retain a significant ownership interest and continue as shareholders alongside management. ⚖️ We advised on the legal aspects of the acquisition of the Slovak and Czech subsidiaries of TEFCOLD Group, including the due diligence process and pre-closing support. The team in Bratislava and Prague was led by Dominika Bajzáthová (Partner) and Matúš Kočíšek (Senior Associate), and included Jan Juroska (Partner), Zuzana Šedinová (Associate), and Michal Horáček (Junior Associate). 👏 Congratulations to all parties involved. We wish Polaris and TEFCOLD every success in this new chapter. 🚀 🔗 https://lnkd.in/dHkUXNAG #ExceptionalTogether #DoneDeals #Slovakia #CzechRepublic #MergersAndAcquisitions #Investment

Stablecoins are moving from crypto use case to financial infrastructure. With #MiCA creating regulatory clarity across Europe, many banks and payment service providers (PSPs) are evaluating how stablecoins can support new business models, faster cross-border transactions and more efficient treasury operations. Whether you're a bank, EMI, PSP, fintech or crypto-asset service provider (CASP), our webinar on 14 September will provide practical insights into what it takes to participate in the next phase of digital finance. Join us and Januar for our session covering: ✅ Real-world stablecoin and payment use cases ✅ MiCA and PSD2 compliance considerations ✅ Operational readiness and infrastructure requirements ✅ How to cooperate with regulated financial service providers 🎙️ Webinar 📅 14 September 2026 ⏰ 10:00 AM CET Marcus Mølleskov (Co-Founder and CRCO, Januar ApS) and Miriam Broucek (Partner, Fintech & Financial Regulation, Kinstellar Vienna) will share their perspectives on stablecoin adoption, regulation and market entry considerations. 🔗 Register here: https://lnkd.in/dRFyYWr5 #ExceptionalTogether #InTheKnow #Webinar #Stablecoin #PSP #CASP #DigitalAssets #Payments #Fintech #Compliance #Crypto #PSD2

🇰🇿 Our team in Kazakhstan acted as legal counsel to National Company KazMunayGas in connection with its cash tender offer for up to USD 500 million of its outstanding USD 1.25 billion 5.375% Notes due 2030, as part of the company's liability management strategy. The team was led by Partner Pavel Kornilov, with support from Associate Kamila Serik and Junior Associate Alan Ibrashev. 🔗 More details: https://lnkd.in/dGtTy3gN #ExceptionalTogether #DoneDeals #Kazakhstan #CapitalMarkets #DebtCapitalMarkets #KazMunayGas

📰 Read the latest edition of The Legal Industry Reviews, featuring an M&A contribution from Milica Mihajilica, Associate in our Belgrade office. In her article, "When a warranty fails: What foreign investors should know about Serbian M&A deals?", Milica explores the practical challenges of enforcing representations and warranties under Serbian law and what this means for investors in cross-border transactions. ⚖️ The article highlights key considerations around governing law, dispute resolution, and SPA drafting, as well as the importance of structuring transactions with potential post-closing claims in mind. As Serbian M&A practice continues to adopt international deal standards, understanding the local legal framework remains essential for effective risk allocation. 🔗 Click here to access the full article: https://lnkd.in/eUpzW6my 🌍 The Legal Industry Reviews (LIR) is a global platform featuring insights from leading law firms and in-house counsel worldwide. #ExceptionalTogether #InTheKnow #CorporateLaw #MergersAndAcquisitions #MALaw #ForeignInvestment #Serbia #LegalInsights #LIR

🔔 We are pleased to share our latest report: The new EU FDI Screening Regulation: implications across Central and Eastern Europe. 🇪🇺 Regulation (EU) 2026/1386, which replaces the existing EU FDI Screening Regulation, was published in the Official Journal on 26 June 2026 and will fully apply from 17 January 2028, giving Member States 18 months to align their national regimes. 🔍 The report examines the key changes introduced by the recast — a common minimum scope of mandatory screening, the express inclusion of investments made through EU subsidiaries under non-EU control, post-closing review and call-in powers, more structured review timelines, and refined criteria for assessing security and public order risks. 🌍 We then look at what this means in practice in each of the covered jurisdictions (Austria, Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia) where the starting points differ considerably: some regimes already reflect much of the new framework, while others will require more substantial amendments. 🤝 The report was coordinated by Cătălin Graure, Counsel in our Bucharest office and Firm-wide Head of FDI, bringing together perspectives from across our regional FDI screening practice: 🇦🇹 #Austria – Sebastian Reiter (Partner), Agnes Lackenberger (Senior Associate) 🇧🇬 #Bulgaria – Nina Tsifudina (Partner), Milka Nikolova (Of Counsel), Debora Dineva (Senior Associate), Maya Demirova (Junior Associate) 🇭🇷 #Croatia – Edin Karakas (Partner), Vedran Kopilović (Counsel) 🇨🇿 #CzechRepublic – Karla Rundtova (Partner), Adam Nemec (Counsel), Matěj Korduliak (Senior Associate) 🇭🇺 #Hungary – Nagy Akos (Partner), Zoltán Bánki (Associate), Gergely János Ficsor (Junior Associate) 🇷🇴 #Romania – Luiza Bedros (Partner), Andreea Vladareanu (Junior Associate), Ioana Isabel Bușa (Junior Associate) 🇸🇰 #Slovakia – Adam Pichler (Managing Associate), Viliam Achberger (Junior Associate) 📥 Download the report here: https://lnkd.in/dGQziSAT #ExceptionalTogether #InTheKnow #FDI #FDIScreening #ForeignInvestment #LegalInsights #CEE #EUFDI #EURegulation