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More news in the Labour Code effective from 1st May 2018

Apart from the new employer´s duty to provide employees with a wage benefit for work on Saturday and Sunday and an increase in wage benefits for work at public holidays and for night work, the recent amendment to the Labour Code (Act No. 63/2018 Coll.) with effect from 1st May 2018 brings also following changes and novelties:

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Ružička Csekes law firm scores another hat-trick

The EPRAVO Group s.r.o. publishing house, in cooperation with TREND weekly magazine, announced the 2018 winners of the 6th year of the Law Firm of the Year competition. Ružička Csekes has won the prestigious award in the main category – Domestic Law Firm – as well as in the Public Procurement category, for the sixth consecutive time. The award of the main prize in the Corporate Law category completes our Law Firm's hat-trick.

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The amendment under preparation will change the conditions of support for renewable energy sources

The Ministry of Economy of the Slovak Republic released preliminary information on the Amendment to the Act on the Promotion of Renewable Energy Sources and High Efficiency Heat and Power Co-generation (CHP). This is a systemic change that will significantly affect the conditions for providing support in this sector.

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Note to employers: New wage benefits for work on Saturday, Sunday, holiday and night work, effective from 1 May 2018

The Labour Code so far has not explicitly regulated the obligation of the employers to provide employees with wage benefits or an allowance for work on Saturday and/or Sunday. However, such wage benefits can still be negotiated in a collective agreement or in an employment contract. The Amendment to the Labour Code approved by the Slovak Parliament on 14 February 2018 (Act No. 63/2018 Col.) with effect from 1 May 2018 stipulates among other things, the obligation of the employer to provide employees with a wage allowance for work on Saturday and Sunday, and increases wage benefits for work on holiday and for night work.

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The law on money laundering concerns more than half a million companies

From March 15, 2018, the Amendment to the Act on Protection against the Legalization of Proceeds from Crime and Terrorist Financing, adopted by Slovakia on the basis of a European Parliament Directive, will enter into force. A law that regulates the rights and obligations of the obliged person, concerns more than 500,000 companies. Possible sanctions for its violation may amount up to Euro 5,000,000.

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Another Great Appreciation of Our Work

We would like to inform you of the new Chambers Global ranking, where we again have a great placement. Chambers Global ranks three areas of practice: Banking & Finance, Corporate & M&A and Dispute Resolution. Our Office is one of the few domestic offices ranked in all three areas. In the ranking of individual lawyers, our managing partner, Jaroslav Ružička, who has been ranked as Eminent Practitioner in Corporate and M&A for several years, was joined by our Partner, Šarlota Štosová, in the field of Dispute Resolution with Band 3 ranking and impressive quotes from our clients. You can find the details at: https://www.chambersandpartners.com/guide/global/2/189/1

In Slovakia, we have won the prestigious Business Superbrands Award 2018. The Brand Council in the Slovak Superbrands program has awarded our Office the Slovak Business Superbrands Award 2018. We have become part of the group of elite brands that represent a pattern of successful development and constantly increasing the brand value. Superbrands award is a confirmation of our quality and encouragement for the clients in their day-to-day decisions.

  


Amendment to the Act on Protection Against Legalization of Proceeds from Crime and on Financing of Terrorism

We would like to inform you that on March 15, 2018 the amendment to the Act on Protection Against Legalization of Proceeds from Crime and on Financing of Terrorism enters into force.

Until 15th of May 2018, legal entities that are liable entities under this Act, are obliged to:

  • Modify the wording of the program of own activities of the liable entity so as to meet the requirements of the amendment, including risk assessment,
  • Designate a senior staff member as a Compliance Officer, if it is not a statutory body, or a member of the statutory body with appropriate authorizations within the company,
  • Have the program approved by the statutory body of the company,
  • Fulfil the other obligations set forth by the amendment.

If you have any questions relating to the above, please contact our Partners:

Lucie Schweizer, lucie.schweizer@r-c.sk  

Sylvia Szabó, sylvia.szabo@r-c.sk

 

  


SEMINAR: Anti money laundering programme in light of the forthcoming amendment

In cooperation with C.H.Beck publishing house, we prepare a seminar that will bring the participants closer to the issues of legal obligations of businesses in the field of fight against money laundering.

Find more info here.

 

AML

 


 

Representative Collective Agreements of Higher level in the field of glass industry and construction are already actual

As we informed last year, the extension of binding collective agreements of higher level (hereinafter only as “CAHL”), based upon the amendment of Collective Bargaining Act, was replaced by “representative collective agreements of higher level”. Representative collective agreement of higher level is binding also for other employers and their employees in the sector or part of the sector for which it is enclosed. On 5th January 2018 the Ministry of work, social affairs and family of the Slovak Republic (hereinafter as “MWSAF SR”) announced the first two representative CAHL for the field of glass industry and construction

Full article can be found here

 


Illegal Employment – A “mitigating” amendment

Long criticized Law on Illegal Work and Illegal Employment (Act No. 82/2005 Coll. – hereinafter the “Illegal Work Act”) has recently been amended by Act No. 294/2017 Coll., and with effect from 1 January 2018 it should bring more mild impacts on “forgetful” employers. Until recently, employers were placed on a list of illegal employers and fined by the Labour Inspection, even for a delay in reporting an employee to the Social Insurance Agency just one hour after the employee came to work.

Full article can be found here

 


How will GDPR affect M&A transactions? 

The GDPR acronym has intensely resonated in business and social media during the last few weeks. Therefore we looked into how will this regulation affect the usual process of M&A transactions. We prepared the following scheme which will provide a general idea and can be a useful resource. In case of interest and for more information do not hesitate to contact our colleagues Lucie Schweizer and Darinu Parobeková.

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gdpr schema


We have advanced in the ranking of the 10 top largest law firms in Slovakia

We proudly announce that as compared to the previous year we have advanced in the ranking of the 10 largest law firms in Slovakia, which is compiled every year by The Slovak Spectator monthly.

While the last year we ranked 3rd in the overall ranking, this year we have taken the 2nd position. In the partial rankings we have moved from the 4th to the 3rd position in the parameter Revenues and defended our 2nd position in the Number of Law Graduates parameter.

This outstanding ranking we understand as an appreciation of our work and also confirmation of the fact that its quality and professionalism are constantly growing.

More details about the ranking can be found at: https://spectator.sme.sk/c/20065015/which-are-the-largest-law-firms-in-slovakia.html

 


The new commercial code will affect also "decent" companies

The latest amendment to the Commercial Code does not only contain restrictions on unfair practices and grey knights. It affects the life of businesses more than it seems at the first glance, and nobody talks about it. We introduce you the most important changes that may affect your business.

On November 8, 2017, an amendment to the Commercial Code was published in the Collection of Laws, which again fundamentally extends the liability of the statutory bodies, even those who have been and are no longer or even those who were not statutory representatives.

Here is a summary of the most important changes.


We have obtained outstanding rating in IFLR1000

We are proud to announce that our Law Firm has been at the forefront of the current ranking of the international publication IFLR1000. In the area of Project Development we ranked in the top class of Tier 1. In the remaining two areas, Banking and Finance and M&A we ranked in Tier 2, and we are one of the few purely local firms with such a high ranking.

Our partners also gained a great individual classification, Dana Nemčíková, Jana Tögelová and Ján Azud, as Highly regarded, Jaroslav Ružička, as Market leader, and Sylvia Szabó and Ladislav Krechňák, as Notable practitioners.

This is yet another appreciation of our work this year.

 


Compliance Officer Day

We’re proud to be #ComplianceOfficerDay Champions. Join us in celebrating the ethics and compliance community at https://www.complianceofficerday.com/champions/ 


These days the computer programs are protected as literary works

Creation of the copyright was a result of the upswing of the printed media in the past, that motivated the need of its complex regulation and protection. Since the last century, copyright or any other intellectual property rights have experienced a large boom. In relatively short period of time, this area underwent many challenges mostly because of the creation of so-called Information Society.

Full article can be found here. 


Department of Mysteries or What is Compliance Department actually doing?

The Compliance Department or holding a position of a Compliance Department does have a certain parallel with the functions of the Ministry of Magic from J.K. Rowling´s Harry Potter.  Their function is often misunderstood, equally mysterious, „secretly“ structured but at the same time needed, required and important. And just as processes and regulations of the Ministry of Magic are avoided, the processes and regulations of the Compliance rules are avoided, if these are already defined by respective companies. Each company has its Compliance department or function even if they think they have not.

Full article

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Mandatory Activation of Electronic Mailboxes

It seems that in the past days – weeks we have been flooded with reports, articles and notices regarding electronic mailboxes. There is no doubt whatsoever, after two unsuccessful “mandatory activations” it is obviously a matter of prestige that the government should not move the date of mandatory activation again.

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The July vote in the European parliament’s committee on the amendment to the posting of workers directive

Slovakia, as well as 10 other countries mainly from Central and Eastern Europe, has given a yellow card to the proposal out of concern that the new conditions of the Directive will reduce the competitiveness of our workers on the European labour market. Read more in the article of our colleague Martina Poliačiková in The Slovak Spectator.

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Successfull European Compliance Forum

The European Compliance Forum 2017 was very successful. We want to thank all the speakers for their interesting presentations and many new topics to think about. We thank all participants for a very pleasant atmosphere. Last but not least, we want to thank all the organisers for their efforts.

 


Again we have won an excellent placement in international rankings

 

We are pleased to announce that our Law Firm has also won this year´s top position in the current Legal 500 ranking in the Real Estate and Construction sector. We are ranked among the “Top Tier Firms” (position 1).

Congratulations also to our Partner, Sylvia Szabó, who again defended the highest rating in the “Leading Individual” in the same sector. Sylvia is an expert in real estate law and developer projects, corporate criminal law and commercial law. Her clients include major local and international companies. She provides advice on project financing, corporate and administrative law.

More information can be found here.