Recent Articles

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  17/01/2025

  Croatia

  Croatia transposes NPL Directive

  Croatia transposed Directive (EU) 2021/2167 on credit servicers and credit purchasers (i.e. NPL Directive) through the adoption of the Act on the Manner, Conditions and Procedure of Servicing and Sale of Receivables, which entered into force at the end of 2023.This process represented an important step forward in achieving the objectives of the NPL Directive and harmonising the rules on the purchase and servicing of non-performing loans (NPLs) in addition to addressing specific local goals.The system before the ActPrior to the adoption of the Act, the purchasing and servicing of NPLs were regulated...

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  16/01/2025

  International

  CMS Expert Guide on Beauty

  With a highly circumspect online and IRL consumer, the beauty industry is facing increasing scrutiny on everything from ingredients to their supply chain. For those offering treatment services in particular, which has until now been the wild west of wellness, there’s a shift in consumer demand for transparency and accountability – namely a desire for better regulation and insurance. This follows well documented horror stories in national press worldwide of those travelling to secure these services at bargain prices with catastrophic results.This Expert Guide on Beauty considers...

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  16/01/2025

  Slovakia

  Slovakia’s new Financial Transactions Tax to impact cash pooling

  On 1 January 2025, the Slovak Financial Transactions Tax (FTT) went into effect after passage of Act no. 279/2024 Coll. on Financial Transactions Tax and on changes and amendments of certain acts (FTT Act), with the first tax period scheduled to start on 1 April 2025. Tax collected for the second quarter of 2025 (i.e. April, May, June) must be paid to the Tax Authority by 31 July 2025, and the paid tax will be considered a tax expenditure.Entities subject to the FTTThe FTT applies to legal entities, branches of foreign legal entities and individual entrepreneurs (e.g. self-employed individuals...

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  16/01/2025

  APAC Region

  Understanding Vietnam's Data Law: Key Objectives and Business Implications

  Vietnam's new Law on Data (“Data Law”), passed on 30 November 2024, will take effect on 1 July 2025. The law regulates both personal and non-personal data, similar to the Chinese Data Security Law (“Chinese Data Law”). Vietnam’s Law represents a significant milestone in regulating Vietnam's digital environment.Comparison with Vietnam’s Personal Data Protection LawThe Data Law regulates digital data, data products, and services, applying to both domestic and foreign entities in Vietnam, as well as offshore entities engaged in Vietnam's digital data activities....

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  16/01/2025

  Belgium

  The Belgian Competition Authority publishes its DMA guide

  The Digital Markets Act (DMA) is an EU regulation that aims at opening up opportunities for innovation in the digital sector in Europe. For this purpose, it provides for obligations on large digital platforms, known as “gatekeepers”, for the benefit of business users and consumers. National competition authorities have important powers to support the European Commission’s enforcement. They can receive complaints and launch preliminary investigations before passing the relevant information to the European Commission for further action. The national competition authorities may also...

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  16/01/2025

  United Kingdom

  CQC evidence to the Health and Social Care Committee shows the scale of operational failings

  The CQC Chair and Chief Executive, Ian Dilks and Sir Julian Hartley, appeared before the Health and Social Care Committee yesterday, 15 January 2025.  Their evidence revealed the extent of the operational failings following the disastrous transformation plan and the scale of the improvement needed to restore confidence in the regulator, which Sir Julian Hartley said would be addressed initially through four priorities:Complete more assessmentsDeal with backlogs in notificationsGet the 500 “stuck” assessments out of the regulatory platformReduce the time to register servicesAverage...

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