On your radar | Is­sue 20
Key em­ploy­ment is­sues to be aware of in­ter­na­tion­ally
Emer­ging Europe M&A Re­port 2022/2023
The year 2022 star­ted with vari­ous chal­lenges, in­clud­ing rising in­fla­tion and en­ergy prices. Then the Rus­si­an in­va­sion of Ukraine ad­ded yet an­oth­er one. Non­ethe­less, the M&A mar­ket in emer­ging European coun­tries proved to be ex­tremely re­si­li­ent. The re­gion saw M&A activ­ity main­tain a steady pace, though deal val­ues were not­ably lower. Also, vari­ations could be ob­served across ter­rit­or­ies and sec­tors. While 2022 brought a unique set of chal­lenges, deal­mak­ing largely com­pared fa­vour­ably to pre-pan­dem­ic levels.Wel­come to the 2022/23 edi­tion of the Emer­ging Europe re­port.
CMS Green Globe | New coun­try ad­ded!
Stay in­formed about the latest sus­tain­ab­il­ity claims trends and de­vel­op­ments CMS Green Globe is an in­ter­act­ive plat­form that al­lows busi­nesses and cli­ents to stay aware and duly in­formed about all the main rap­idly chan­ging trends and de­vel­op­ments re­lated to sus­tain­ab­il­ity claims across the world.Here you will find in­form­a­tion on reg­u­la­tion and de­vel­op­ments you need to know when ad­vert­ising and mar­ket­ing your busi­ness or product by us­ing sus­tain­ab­il­ity claims as well as our key ex­perts to sup­port you in nav­ig­at­ing the world of such claims.CMS Green Globe helps you to avoid gre­en­wash­ing your con­sumer in your jur­is­dic­tion as well as across the globe. Dis­cov­er CMS Green Globe Best ex­plored on desktop
CMS Ex­pert Guide to Short Rules on Price Re­duc­tion Cam­paigns
As busi­nesses look to man­age rev­en­ue pat­terns through­out the year, dis­counts can be a use­ful tool. To as­sist in this ef­fort, we have cre­ated a guide for busi­nesses to con­sider when plan­ning these types...
Reg­u­lat­ory points of at­ten­tion - short video series | Epis­ode 1
Video series CMS Funds Group reg­u­lat­ory ex­perts have iden­ti­fied key reg­u­lat­ory points of at­ten­tion that need to be care­fully ad­dressed in the struc­tur­ing and man­age­ment of a fund. With this in mind, we would like to in­vite you to watch our short videos They have been de­vised to provide fund man­agers with a glimpse in­to the do’s and don’ts across a num­ber of ba­sic areas that con­vey sig­ni­fic­ant risks.
Post-Mer­ger In­teg­ra­tion
When the ink has dried on trans­ac­tion doc­u­ments and a deal has suc­cess­fully closed, it may feel like the hard work is over. It isn’t.Stud­ies re­peatedly show that un­der­es­tim­at­ing the im­port­ance of timely and care­fully planned post-mer­ger in­teg­ra­tion (PMI) is a shared fea­ture of un­suc­cess­ful trans­ac­tions. Ro­bust post-mer­ger in­teg­ra­tion, par­tic­u­larly for large cross-bor­der M&A, is a highly com­plex pro­cess that re­quires strong co­ordin­a­tion from the top, and ad­visors you can rely on.Let us take the com­plex­ity out of your PMI pro­ject.
TMT World Con­gress 2023
CMS law­yers are pleased to be at­tend­ing the TMT World Con­gress 2023 held in Lon­don on 25-26 Janu­ary.Be­low you can find an over­view of our at­tend­ing part­ners, rep­res­ent­ing a large range of jur­is­dic­tions and prac­tice areas. To ar­range a meet­ing, please con­tact the in­di­vidu­al law­yers dir­ectly.Ad­di­tion­ally, the fol­low­ing CMS part­ners will be par­ti­cip­at­ing in these dis­cus­sions:Glob­al Co-Head of the TMC Group Dora Pet­rányi is par­ti­cip­at­ing in the CEO Fireside Chat - Strategies for the next wave of con­sol­id­a­tion, con­ver­gence and com­pet­i­tion, Thursday 26 Janu­ary (10:25 – 10:40)Glob­al Co-Head of Com­mu­nic­a­tions Anne Chitan will mod­er­ate the M&A Pan­el - Is there enough band­width for con­tin­ued con­nectiv­ity trans­ac­tions?, Wed­nes­day 25 Janu­ary (11:30 – 12:10)Chair of Tech­no­logy, Me­dia and Com­mu­nic­a­tions sec­tor group Chris Wat­son will mod­er­ate the break-out ses­sion - The Road to Re­spons­ible Data Pro­cessing - Im­prov­ing Data­centre ESG out­comes, Wed­nes­day 25 Janu­ary (14:00 – 14:50)At CMS, we have some of Europe’s lead­ing leg­al spe­cial­ists in the tech­no­logy, me­dia and com­mu­nic­a­tions sec­tor. Our Di­git­al Com­mu­nic­a­tions In­fra­struc­ture Team com­bines ex­cep­tion­al ex­pert­ise in pro­ject and struc­tured fin­ance, com­pet­i­tion reg­u­la­tion and large-scale in­vest­ment, while our mar­ket-lead­ing tele­com­mu­nic­a­tions team has dec­ades of ex­per­i­ence in the tech­no­logy and com­mu­nic­a­tions space, in­clud­ing strong ex­pert­ise in the areas of fibre, towers, sub­sea cables, net­work shar­ing, data centres and satel­lite.To find out more about CMS Di­git­al Com­mu­nic­a­tions In­fra­struc­ture cap­ab­il­it­ies, vis­it our Di­git­al Com­mu­nic­a­tions In­fra­struc­ture sec­tion.For fur­ther in­form­a­tion, please see our part­ners at­tend­ing the con­gress in the gal­lery be­low and an over­view of all our ex­pert­ise areas.
Third Party Fund­ing & In­ter­na­tion­al Ar­bit­ra­tion - Top 10 Q&A Video Series
Third Party Fund­ing is be­com­ing of in­creas­ing in­terest to busi­nesses as a source of cap­it­al to fin­ance and off­set the risk of dis­putes they are in­volved in. In this video series, we an­swer 10 of the most fre­quently asked ques­tions cor­por­ate coun­sel have about Third Party Fund­ing.Down­load PDF pub­lic­a­tion
Top 10 Ques­tions asked by Cor­por­ate Coun­sel con­sid­er­ing Third Party Fund­ing...
Third Party Fund­ing is where a com­mer­cial fun­der agrees to cov­er some or all of the leg­al fees and ex­penses in­curred by a party (usu­ally a claimant) in re­la­tion to a dis­pute. In re­turn, if the party is suc­cess­ful in the dis­pute, the fun­der will re­ceive a re­turn on its in­vest­ment, usu­ally a share of the sums re­covered (of­ten cal­cu­lated as either, or a com­bin­a­tion of, a mul­tiple of its in­vest­ment or a per­cent­age of the amount re­covered), plus, as a pri­or­ity, re­pay­ment of the amount paid out. Third Party Fund­ing is be­com­ing of in­creas­ing in­terest to busi­nesses as a source of cap­it­al to fin­ance and off­set the risk of dis­putes they are in­volved in. In this flash brief­ing, we an­swer 10 of the most fre­quently asked ques­tions cor­por­ate coun­sel have about Third Party Fund­ing.*The an­swers in this doc­u­ment re­flect the ap­proach taken by Omni Bridge­way and in­dustry best prac­tice. Due di­li­gence should be con­duc­ted on any spe­cif­ic fun­der in re­spect of their ap­proach to the same.foot­note­Watch Third Party Fund­ing video series
CMS ad­vises fibre net­work op­er­at­or Sewikom on ac­quis­i­tion by North­ern Fiber...
Mu­nich – Ger­man fibre net­work op­er­at­or Sewikom has been ac­quired by in­fra­struc­ture com­pany North­ern Fiber Hold­ing GmbH. The lat­ter is part of UBS As­set Man­age­ment Real Es­tate & Private Mar­kets (UBS-AM)...
Im­pact of AI & Tech­no­logy on the Funds sec­tor
AI & Tech­no­logy are dis­rupt­ing the in­vest­ment funds sec­tor, and laws and reg­u­la­tions are be­ing amended to move to­wards a more di­git­al en­vir­on­ment for fin­an­cial in­sti­tu­tions, as­set man­agers and in­vestors.   Videos | Jar­gon Buster Wheth­er you are a fund man­ager or an in­vestor, gain a ba­sic in­sight in­to the most im­port­ant AI & Tech defin­i­tions. Watch CMS Funds Group short Jar­gon Buster videos.MiCA reg­u­la­tions­Fun­gible & Non-fun­gible as­set­sKnow­ing your cus­tom­er & Cus­tom­er due di­li­genceVir­tu­al as­sets & vir­tu­al as­set ser­vice pro­vider­sUtil­ity tokensSe­cur­ity & Pay­ment token­s­Token­isa­tionDLT & Block­chain Event | Will block­chain fi­nally dis­rupt the full funds value chain in 2023? (Nov. 2022) Not­with­stand­ing the mar­ket's high ex­pect­a­tions, pi­on­eer­ing pro­jects have faced dif­fi­culties for a num­ber of reas­ons in­clud­ing lack of clar­ity on reg­u­la­tions and a lim­ited num­ber of ready sec­tor par­ti­cipants. This may soon change. It seems that all pieces of the puzzle will come to­geth­er in 2023 and fi­nally un­lock the op­por­tun­it­ies.We have held roundtable dis­cus­sions in­volving lead­ing speak­ers at all levels of the fund value chain such as Tokeny, Let­z­Token, Op­por­tun­ity, Caceis, Q  Se­cur­it­ies, Nor­dic­Ninja VC and Montis.This event cov­ers: Funds token­isa­tion Funds in­vest­ing in crypto-as­sets Sec­ond­ary mar­ket and dis­tri­bu­tion­View our re­cord­ing.Down­load our write up. We­bin­ar | Token­isa­tion as a solu­tion (Jun. 2022)  Di­git­al­isa­tion is chan­ging the in­vest­ment mar­ket for in­vestors and fund man­agers. Vir­tu­al as­sets are grow­ing and in­sti­tu­tions are be­com­ing in­creas­ingly in­volved across a range of activ­it­ies from tra­di­tion­al fund in­vest­ments to as­sets such as real es­tate and crypto-as­sets.   This we­bin­ar cov­ers: The trends and op­por­tun­it­ies for di­git­al as­sets;The evolving reg­u­la­tion and in­fra­struc­ture;New products and uses; andWhat in­sti­tu­tion­al in­vestors and man­agers are do­ingView our re­cord­ing.Down­load our slides. We­bin­ar | All you need to know on funds token­isa­tion: Reas­ons, be­ne­fits, cur­rent pro­jects, land­scape & latest trends (Oct. 2021)  Token­isa­tion is now mak­ing it faster, easi­er, cheap­er, and more se­cure to launch, op­er­ate and close a fund. Token­isa­tion and di­git­al­isa­tion through Dis­trib­uted Ledger Tech­no­logy are at the centre of this op­por­tun­ity.Can funds be token­ised and how?Can tech­no­logy bring be­ne­fits?What are they? What are the op­por­tun­it­ies and risks?What are the lessоns learned from land­mark pro­jects?Down­load our present­a­tion. More videos on the im­pact of AI & Tech­no­logy on the Fund sec­tor.   CMS Funds Group videos fea­ture short dis­cus­sions between CMS law­yers and key play­ers from both the tech­no­logy and fin­an­cial ser­vices sec­tors, provid­ing a per­son­al in­sight in­to the di­git­al­isa­tion of funds and Fintech, with par­tic­u­lar fo­cus on the leg­al, reg­u­lat­ory and busi­ness as­pects of in­nov­a­tion and di­git­al­isa­tion of as­sets through token­isa­tion, block­chain and the use of tech­no­logy for in­vest­ments, ad­min­is­tra­tion and ESG re­port­ing. View our videos. 
CMS Ex­pert Guide to Schrems II
On 16 Ju­ly 2020, the Court of Justice of the European Uni­on (CJEU) de­clared the EU-US Pri­vacy Shield De­cision to be in­val­id by judge­ment in the “Schrems II” case (C-311/18). Even though the Pri­vacy...