TMT/IP

Romania to Introduce Stricter Compliance Rules for Crypto-Asset Service Providers

Romania’s National Office for the Prevention and Control of Money Laundering has recently published a draft of an Emergency Ordinance amending and supplementing Law no. 129/2019 on the prevention and control of money laundering and terrorist financing (the Emergency Ordinance) in order to harmonise domestic legislation with the provisions of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (the Fifth AML Directive), as amended by Regulation (EU) 2023/113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets (the MiCAR).

SSK&W and LLW Advise on Xopero's Funding from WEG and Business Angels

SSK&W has advised the founder of Xopero Software Lukasz Jesis on funding from the Warsaw Equity Group and business angels. LLW Lewczuk Lyszczarek Szymczyk advised Xopero. LSW reportedly advised WEG.

Ellex Advises Chili Labs on Management Buy-Out from 1242 Apps

Ellex has advised the founders of Chili Labs on the management buy-out from 1242 Apps.

Brandl Talos Advises TriLite Technologies on Extension of Series A Financing Round

Brandl Talos has advised Vienna-based start-up TriLite Technologies on the extension of its Series A financing round, bringing the total funding raised under the Series A financing round to over EUR 20 million.

Dentons Advises Resource Partners on Acquisition of Vola and FRU

Dentons has advised Resource Partners on its acquisition of an 80% stake in Interactive Travel Holdings, the parent company of the Romanian brand Vola.ro and Polish brand FRU.pl, which also operates in Bulgaria and Moldova, from 3TS Capital Partners and the Polish co-founders of FRU.pl. CMS and DLA Piper reportedly advised the sellers.

CMS, Avellum, and Kinstellar Advise on NJJ Holding and Horizon Capital-led Consortium's Acquisition of Datagroup-Volia and Lifecell

CMS has advised a consortium led by NJJ Holding and Horizon Capital on the acquisition of Datagroup-Volia and Lifecell. Avellum advised NJJ on obtaining merger control clearance from the Antimonopoly Committee of Ukraine for the acquisition. Kinstellar also advised NJJ.

Obligation to Maintain Records of Personal Data Processing Activities in Serbia

Under which circumstances are controllers and processors not required to maintain records of personal data processing activities? The Personal Data Protection Law, modeled on the GDPR, sets out exceptions to the obligation for organizations with fewer than 250 employees to keep processing records. While this acknowledges the characteristics of small and medium-sized enterprises, ensuring they are not unnecessarily burdened with additional costs, the number of employees is not the sole criterion for exemption from the record-keeping obligation.