Austrian Supreme Court permits assignment of rescission claims in the event of insolvency

8 October 2019

For the first time the Austrian Supreme Court permitted the assignment of rescission claims and thus opposed the legal opinion of the two lower instances as well as the predominant opinion of the doctrine.

Related Party Transactions – Updates for the Supervisory Board

2 October 2019

Transactions concluded with related companies or persons require the approval of the Supervisory Board above a certain threshold value and publication in accordance with a further threshold value…

Heads up: EBA guidelines on outsourcing enter into force on 30 September 2019

27. September 2019

The Guidelines on Outsourcing (EBA/GL/2019/02) issued by the European Banking Authority (EBA) on 25 February 2019 enter into force on 30 September 2019. In addition to credit institutions – to which the CEBS guidelines on outsourcing previously already applied – investment firms, payment institutions and e-money institutions are also addressed by the guidelines.

Penalties of millions for missing wage documents violate EU law – an ECJ decision

26 September 2019

The ECJ has ruled that high administrative sanctions based on the principle of cumulation can constitute a violation of the freedom to provide services and thus violate EU law.

FMA publishes FAQs on the notification of major shareholdings in listed entities

29. August 2019

The Austrian Financial Market Authority (FMA) today published FAQs regarding the notification of major shareholdings in listed entities providing important clarifications on the administrative practice and legal interpretation of the FMA.

Prohibition of the return of capital contributions – applicable to constellations with private foundations?

27 August 2019

Despite the high number of decisions of the Austrian Supreme Court prohibiting the return of capital contributions, it was not decided until recently whether and under what conditions this concept could also be applied to constellations involving private foundations.

Questions on Ad-hoc announcements and insider obligations – Practice of the German BaFin

22 August 2019

The Market Abuse Regulation (MAR) has established uniform rules throughout Europe for core elements of capital market law such as ad-hoc announcement obligations, insider surveillance and directors’ dealings. Since July 2019, the German Federal Financial Supervisory Authority (BaFin) has been conducting a consultation on an Issuer Guideline. The approaches of the German regulator offer helpful starting points for the Austrian practice.

Recent changes in Austrian labour law

8 August 2019

News from Austrian labour law from our Lawyer Walter Niedermüller and our Associate Philipp Bertsch (in German)

European Competition Developments, Issue 2 (August 2019)

6 August 2019

It is true that the competition never sleeps: For an overview of current events in competition policy and enforcement in the EU, check out our second issue of European Competition Developments for the latest on current events in competition policy and enforcement in Europe put together by our counsel Kajetan Rozga and our associate Magdalena Nowak.

Whistleblowing protections in the CEE and the impact of the recent EC directive

1 August 2019

In this article, we look at what the EC’s directive might mean for whistleblowers and their employers within the context of the current patchwork of regulations in several CEE jurisdictions.