As of the close of 2018, Serbia has now established its central register of ultimate beneficial owners. Henceforth, Serbian companies, institutions, as well as branches and representative offices established by foreign investors in Serbia are… Read More »Serbia institutes UBO registry
The Serbian parliament has recently adopted a new law regarding the introduction of a central registry of ultimate beneficial owners (UBOs). In force as of June 8th, the UBO law stipulates that entities and their… Read More »Serbia to institute UBO law
Poland has recently introduced another public registry related to debtors. Poland is in the process of introducing the Register of Public Law Dues, which is desiged to provide information related to any financial liabilities of… Read More »Poland introduces debtor registry
US banks have begun applying the US Treasury’s new customer due diligence regime, requiring them to verify the identities of new business customers’ beneficial owners, and report them to law enforcement agencies. The rules were… Read More »US customer due diligence regime goes live
The purpose of the new amendment to the Hungarian Civil Code, effective as of 1 October 2016, is to make effective the independent mortgage, which was used under the former civil code, along with refining… Read More »New amendment to the Hungarian Civil Code
Serbia’s new Enforcement and Security Act (ESA) was adopted on 18 December 2015, and has become effective as of 1 July 2016. The most relevant new rules are: the provision of new mechanisms to ensure… Read More »The New Enforcement and Security Act in Serbia
Complete bank secrecy is fast becoming a matter of the past. The Automatic Exchange of Information (AEOI) portal provides a comprehensive overview of the work the OECD and the Global Forum on Transparency and Exchange… Read More »Banking Secrecy in Cyprus
Slovenia has amended the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act, which follow on amendments in 2013, amending preventive restructuring, simplified compulsory settlement and personal bankruptcy proceedings. Amendments to Slovenia’s Insolvency Act, which were adopted… Read More »Slovenia amends insolvency law