Gecić Law is delighted to announce its contribution to the renowned CEE Legal Matters Comparative Guides to Central and Eastern Europe series. This time, our expertise shines in the field of Banking and Finance, marking another milestone in our commitment to providing comprehensive legal insights. Our team, comprising Senior Associate Miloš Petaković and Associate Teodora Ristić, worked on the chapter dedicated to Serbia, shedding light on the legal framework governing the country’s financial services sector. With a comprehensive analysis of relevant legislation, the chapter offers essential information contributing to a detailed understanding of Serbia’s financial services landscape. The Banking and […]
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Environmental awareness has been a pressing topic for decades. In the past, international treaties were signed to put words into action. One of these key treaties was the 1997 Kyoto Protocol. The reasoning behind this protocol was evident; countries needed to reduce greenhouse gas emissions (“GHG”). Back in 2008, Serbia had ratified this agreement and prescribed mandatory targets for the reduction of harmful emissions in the period between 2008-2012. The Amendment from Doha confirmed the second binding period of the Kyoto Protocol, between 2013-2020, including new obligations in GHG emissions reduction. However, perhaps the most crucial treaty was the Paris […]
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Does blockchain technology carry risks of money laundering and terrorist financing? The Financial Action Task Force (“FATF”) responds affirmatively. In October 2021, FATF published an Updated Guidance for a Risk-Based Approach (“Guidance”), as a result of crypto market monitoring. The Guidance is based on the assessment of the risk of money laundering and terrorist financing regarding the regulation and supervision of virtual assets (“VA“) and Virtual Assets Service Providers (“VASP“). The amendments to the Guidance are the result of the FATF’s ongoing work and oversight of the VA and VASP sectors and their development, to prevent money laundering and terrorist […]
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The National Bank of Serbia is making inroads into harmonizing local legislation with European Union (“EU”) legislation, especially into amending regulations governing the operation of banks and other financial institutions. The European Commission (“EC”) adopted a decision of importance for the Republic of Serbia, which was published on 18 December 2019 in the Official Journal of the EU. Serbia’s push to amend the regulatory and supervisory framework concerning banks’ operations and in particular to amend anti-money laundering and terrorist financing regulation has borne fruit and is a step in the right direction for building a stable financial system. This decision […]
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GECIĆ LAW RECOGNIZED AGAIN AS TOP TIER LAW FIRM BY LEGAL 500 We are proud to announce that Legal 500, the prestigious UK-based guide to the world’s best law firms, has ranked Gecić Law for the second consecutive year as a Top Tier firm in Serbia in its EMEA guide for 2018. The firm’s practice in the field of Competition Law has been ranked as Tier 1, while the Commercial, Corporate and M&A practice maintained an enviable Tier 2 amongst fierce competition of traditional market incumbents. Furthermore, for the first time this year, our dynamic Banking & Finance practice was […]
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