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  • MALTA – BLOCKCHAIN ISLAND AND THE NEXT AML DIRECTIVE

    MALTA – BLOCKCHAIN ISLAND AND THE NEXT AML DIRECTIVE

    Published: 23 Aug 2018

    MALTA – BLOCKCHAIN ISLAND AND THE NEXT AML DIRECTIVE June 2018 – the text of the Fifth Money Laundering Directive (EU/2018/843) (“5AMLD”) was published in the Official Journal of the EU and Malta approved three distributed ledger technology (DLT) and crypto-related acts. HOW WILL THE FIFTH MONEY LAUNDERING DIRECTIVE AND THE THREE DLT AND CRYPTO ACTS CO-EXIST? With great foresight and a commi...

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  • Improper extension of a discount campaign

    Improper extension of a discount campaign

    Published: 21 Aug 2018

    Caution is advised when extending a fixed-term discount campaign. Extending the campaign may constitute misleading advertising and thus a violation of competition law. There are good reasons for extending a fixed-term discount campaign. However, we at the commercial law firm GRP Rainer Rechtsanwälte note that this is only legal under certain circumstances. If the campaign is extended due to...

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  • Competition law – The term “Praxisklinik” does not entail inpatient treatment

    Competition law – The term “Praxisklinik” does not entail inpatient treatment

    Published: 17 Aug 2018

    A dentist is allowed to promote his or her homepage with the term “Praxisklinik”, i.e. “(practice) clinic”, even if they do not admit patients for extended periods of time as inpatients. That was the verdict of the Landgericht (LG) Essen, the Regional Court of Essen. The following facts and circumstances informed the LG Essen’s judgment from November 8, 2017 (Az.: 44 O 21/17): A dentist had made...

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  • REGISTRATION A COMPANY IN CZECH REPUBLIC

    REGISTRATION A COMPANY IN CZECH REPUBLIC

    Published: 16 Aug 2018

    Establishing a company in the Czech Republic is a "modern" solution for efficient business conduct. Czech Republic ranks first in international trade and takes advanced positions in ease of doing business and obtaining credit in the international rating of Doing Business. WHAT ARE THE ADVANTAGES OF REGISTERING A COMPANY IN CZECH REPUBLIC? Establishing a company in Czech Republic is ...

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  • LAG Hamm – Prohibited surveillance in the workplace

    LAG Hamm – Prohibited surveillance in the workplace

    Published: 13 Aug 2018

    Monitoring employees using video surveillance is only permitted within narrow boundaries. Illegal recordings cannot therefore be used as evidence in the context of workplace legal disputes. There are justifiable reasons for monitoring the workplace using video cameras. Particularly in areas which are accessible to the public such as storefronts, video cameras are a common sight. However, this ne...

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  • LITHUANIA AS A FINANCIAL START-UP

    LITHUANIA AS A FINANCIAL START-UP

    Published: 09 Aug 2018

    Today, Lithuania gives the highest rates among fintech start-ups in the EU. These indicators appeared due to loyal regulator and control, flexible banking infrastructure and access to the European market. Another distinguishing feature of Lithuania from other potential investment directions within the EU is the terms and legislation. Registration of a payment company in Lithuania It only take...

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  • Power of attorney can constitute a valid will

    Power of attorney can constitute a valid will

    Published: 06 Aug 2018

    It is possible for a power of attorney to constitute a valid will. That was the verdict of the Oberlandesgericht (OLG) Hamm, the Higher Regional Court of Hamm, in a ruling from May 11, 2017 (Az.: 10 U 64/16). A will should always be clearly recognizable as the testator’s final wishes to prevent disputes from arising among the heirs. We at the law firm GRP Rainer Rechtsanwälte note that it w...

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  • Breach of duty by management – Special audit in cases involving a GmbH

    Breach of duty by management – Special audit in cases involving a GmbH

    Published: 03 Aug 2018

    If there is reason to suspect that management has breached its duties, the shareholders of a GmbH, a type of a German private limited company, can request that a special audit be carried out. We at the commercial law firm GRP Rainer Rechtsanwälte note that the responsibilities of the shareholders of a GmbH include approving the annual financial statement as well as scrutinizing and monitori...

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