CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The Hungarian Code of Advertising Ethics (hereinafter referred as: the “Code”) has not been revised since 2015, but the achievements of the times and the accelerated flow of information made it necessary to include some specific elements into the Code. Following approval by the advertising industry bodies, the new Code came into force on June 30, 2023. The purpose of this article is to highlight the most important changes to the content, in order of their position in the new Code.
Lithuania hopes for the best and prepares for the worst by further tightening its banking and fintech regulations, following the latest decisions and position papers issued by the supervisory authority. Despite talks of a recession, the banking and finance market remains active, according to Cobalt Partner Akvile Bosaite.
Zepos & Yannopoulos, working with Cyprus' Tassos Papadopoulos and Associates, has advised the Nabtesco Corporation on its acquisition of maritime technology start-up DeepSea Technologies.
The world’s population is on the rise, increasing the demand for food. The United Nations estimates that the world population will reach 9 billion people in approximately 15 years; by 2050, it is expected to reach 10 billion people. This means there will be an additional two billion people to feed, necessitating farming and food production to become more efficient.
At the beginning of June 2023, the Supreme Court of the United States ruled in favor of the famous Jack Daniel’s distillery in a trademark infringement lawsuit after a squeaky toy for dogs appeared on the market, which resembles a bottle of the famous whiskey Jack Daniel’s Old No. 7 Black Label Tennessee Whiskey in the context of shape of the bottle and other elements (trade dress).
With the Schrems II judgment, which invalidated the Privacy Shield, the CJEU (Court of Justice of the European Union) make it more difficult to comply with the GDPR for companies transferring personal data from the EU to the US. However, the new EU-US Data Privacy Framework (or “Framework”) adopted on 10 July aims to put an end to this situation. But how does the Framework make data transfers between the EU and US easier? In this short article, we explain the basics of the new Framework and answer the above question.
Based on the GDPR, data controllers have several obligations, such as maintaining the records of data processing or in case of joint controllers, entering into an agreement which determines their respective responsibilities for compliance with their data protection related obligations. In a recent case, the Court of Justice of the European Unio (‘CJEU’) needed to decide on the issue whether the non-compliance with these obligations constitutes unlawful processing resulting in the duty to erase the personal data of the data subject.
