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Compliance

Serbia

The scope of regulatory requirements, anti-corruption legislation and codes of conduct is growing and becoming more complex. For you (whether you are on the board, in senior management or a rank and file employee) and equally for your company, the economic consequences of breaches in any of these areas can be extremely far-reaching. We advise both large concerns and small to mid-sized enterprises (SME's) in the design of compliance programmes, primarily to prevent the occurrence of breaches and to minimise the legal consequences if they should occur.

Working with CMS means working with a partner who always keeps the big picture in mind, yet works side by side with you when it comes to the details of different situations: we will always be at your side during major crisis situations, yet equally, our goal is to design a successful, efficient and customised compliance programme which is closely aligned with the day-to-day needs of your business.

In times of crisis, the key first step is to establish the facts. We can support you with forensic investigations, in fact we frequently lead such investigations, often in collaboration with the members of a forensic audit team. Once the facts are established, we present management with the potential legal consequences (in terms of civil, corporate, labour or criminal law).

A key feature in the design of any effective compliance programme is that it is closely tailored to the specific nature of your business, i.e. it should not try to be all-encompassing, nor should it be too narrow, plus it should incorporate an international perspective.

We are familiar with the main legal areas to be addressed by compliance programmes: anti-corruption legislation, employment laws, international trade and export laws, data protection, corporate law, industrial property rights, capital markets, anti-trust laws, medical and pharmaceutical products, product liability, taxation, criminal law, company transactions, environmental law, public procurement and competition law.

You can benefit from our extensive experience with international anti-corruption legislation, in particular with the USA (FCPA) and the UK (UK Bribery Act). The consideration of international anti-corruption legislation is particularly relevant for companies with international operations and, working in many cases in tandem with other offices in the international CMS network, we can advise you on compliance issues as they relate to international regulations.

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10 Mar 20
EU Com­mis­sion's White Pa­per on Ar­ti­fi­cial In­tel­li­gence stresses ex­cel­lence...
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25 Feb 20
Pro­tect your con­sumers or pay the price: mega fines for breaches of...
Novem­ber 2019 saw the ad­op­tion of the En­force­ment and Mod­ern­isa­tion Dir­ect­ive which amends four ex­ist­ing con­sumer-fa­cing European dir­ect­ives: the Un­fair Com­mer­cial Prac­tices Dir­ect­ive, the Con­sumer Rights...
17 Feb 20
Opin­ion on stand­ard con­trac­tu­al clauses: more a com­pli­ance head­ache...
A re­cent non-bind­ing Opin­ion of the Ad­voc­ate Gen­er­al has sig­nalled that the stand­ard con­trac­tu­al clauses can con­tin­ue to be used as a safe­guard for trans­fer­ring per­son­al data out­side the EEA. However,...
30 Jan 20
New European rules for on­line plat­forms
A new Reg­u­la­tion, known as the Plat­form to Busi­ness Reg­u­la­tion or the On­line In­ter­me­di­ation Ser­vices Reg­u­la­tion, will come in­to force on 12 Ju­ly 2020. It ap­plies to on­line in­ter­me­di­ation ser­vice pro­viders,...
17 Jan 20
Ser­bi­an re­tail mar­ket re­cords steady growth, but mod­ern­isa­tion needed
The Ser­bi­an Com­mis­sion for the Pro­tec­tion of Com­pet­i­tion pub­lished a re­port on the sec­tor in­quiry in­to the Ser­bi­an re­tail mar­ket for 2017 and 2018 on 14 Janu­ary 2020. This re­tail sec­tor in­quiry is a fol­low-up...
17 Jan 20
New guid­ance on cy­ber­se­cur­ity for med­ic­al devices pub­lished
In Decem­ber 2019, the Med­ic­al Device Co­ordin­a­tion Group (“MD­CG”) is­sued a new guid­ance to help med­ic­al device man­u­fac­tur­ers meet the cy­ber­se­cur­ity re­quire­ments in the Med­ic­al Devices Reg­u­la­tion (“MDR”)...
29 Nov 19
Gibral­tar’s status with­in the EU
AG opin­ion ad­voc­ates strict in­ter­pret­a­tion of EU dir­ect­ive, but con­firms dis­crim­in­at­ory nature of Bul­gari­an le­gis­la­tion con­trary to free­dom of es­tab­lish­ment The opin­ion of Ad­voc­ate Gen­er­al Hogan (the...
15 Nov 19
Brexit and data pro­tec­tion: what to do next (when you don’t know what’s...
Whilst the threat of a no-deal Brexit has been aver­ted for now, the fu­ture is by no means cer­tain. We have high­lighted some of the key is­sues for UK-based or­gan­isa­tions, and the EEA or­gan­isa­tions that...
05 Nov 19
Whis­tleblow­ing Dir­ect­ive ad­op­ted by the EU Coun­cil
On 7 Oc­to­ber 2019, the EU Coun­cil ap­proved the word­ing of the "Dir­ect­ive of the European Par­lia­ment and of the Coun­cil on the pro­tec­tion of per­sons who re­port breaches of Uni­on law", also known as the...
24 Oct 19
Busi­ness now feel­ing the ef­fects of GDPR in M&A trans­ac­tions
Auto­mot­ive, health­care and fin­an­cial ser­vices are prime ex­amples of sec­tors that are un­der­go­ing rap­id di­git­al change. This trans­form­a­tion in the di­git­al en­vir­on­ment is caus­ing busi­ness mod­els to be rad­ic­ally...
12 Sep 19
UK food and cos­met­ic pro­du­cers to the EU to face new reg­u­la­tions after...
As Brexit draws near­er and with the like­li­hood of an un­reg­u­lated exit still not off the table, EU-27 com­pan­ies im­port­ing or selling food or cos­met­ics from Great Bri­tain face li­ab­il­ity risks if they con­tin­ue...
01 Jul 19
Ser­bia no longer un­der FATF Anti Money Laun­der­ing mon­it­or­ing
As part of its on-go­ing re­view of com­pli­ance with the anti-money laun­der­ing/ com­bat­ing the fin­an­cing of ter­ror­ism (AML/CFT) stand­ards, the Fin­an­cial Ac­tion Task Force (FATF) fol­low­ing the FAT­F's ses­sion...