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.

Insults on the Internet – Facebook as guardian of law and order?

10 July 2019

Insults on the Internet – Facebook as guardian of law and order? Our Partner Sonja Dürager, specialised amongst others in IT-law, trademark, copyright, data protection, and unfair competition, wrote an article in German about this controversial topic: http://bit.ly/2JANhAC  

Navigating Austria’s Transaction Value Merger Filing Threshold

3 July 2019

The recent addition of a transaction value threshold warrants closer scrutiny of merger filings in Austria, but it need not cause a rush to file every deal that appears to meet its requirements on paper. In this article, Florian Neumayr and Kajetan Rozga talk about how to hit the sweet spot of avoiding a needless filing while being discerning enough not to trigger a costly failure-to-file proceeding. The lessons learned may prove useful not only in navigating Austrian merger control but also in informing the broader debates over whether to implement similar thresholds in other jurisdictions such as the EC.

Guide on Shareholder Activism & Engagement: Austrian Chapter by Christoph Nauer and Daniel Reiter

02 July 2019

Shareholder activist campaigns are on the rise and are increasingly being observed on the Austrian market as well. That is why listed companies are advised to prepare for activist shareholders and their strategies.

Four Common Pitfalls of Austrian Merger Filings

18 June 2019

Austrian law requires notifying transactions to the competition authorities in some unexpected circumstances. In this article, Astrid Ablasser-Neuhuber and Kajetan Rozga discuss four common pitfalls of Austrian merger control law that can lead to a missed or delayed filing.

Knowing how to spot these risks and when to seek the expertise of local counsel can help in avoiding the negative consequences of a late filing on the deal as well as a potentially costly and distracting failure-to-file proceeding.