Gecić Law Firm Serbia

26 Jan 2023

Hristina Kosec Elected Partner

We are happy to give a name to the values we stand for.  Gecić Law is immensely pleased to announce that our own Hristina Kosec was elected partner at our firm.  Hristina joined Gecić Law in 2019 and has since successfully headed Gecić Law’s operations, including the administrative, human resources, and business development functions. She oversees the development and implementation of the firm’s growth strategy, including planning, financial projections, and performance monitoring indicators.  Hristina’s leadership has been instrumental in guiding the unprecedented growth and development the firm has experienced.  As a partner, Hristina will leverage her legal background to increasingly […]

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25 Jan 2023

Tirana Declaration – Western Balkans Working Together for a Greener Future?

EU and Western Balkans leaders gathered in Albania last December for the EU and Western Balkans Summit to discuss cooperation and EU perspectives of the region. The Tirana Declaration (“Declaration”) was signed between the leaders of the Western Balkans Six and the EU Member States, with representatives of the EU Council and the EU Commission. The document comprises specific initiatives to strengthen regional cooperation in parallel with the EU accession processes. One of the Declaration’s critical topics was the Western Balkans’ commitment to fully implement the Green Agenda and develop a carbon pricing policy in the context of the EU […]

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17 Jan 2023

The Dawn of Green Protectionism?

In her keynote speech at the 2023 World Economic Forum in Davos, Ursula von der Leyen, EU Commission President, outlined yesterday the main pillars of the EU’s Green Deal Industrial Plan to boost Europe’s leadership in green technology on its road to carbon neutrality.  “We know we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” said von der Leyen. As the plan’s regulatory pillar, she announced a new Net-zero Industry Act to support the “greatest industrial transformation of our times” and keep up with strongly incentivized programs […]

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13 Jan 2023

EU’s Foreign Subsidies Regulation Comes into Force

As anticipated for some time in the previous months, while having been agreed upon between the EU institutions, the Foreign Subsidies Regulation (Regulation) finally saw the light of day on January 12, 2023. Its application will commence on July 12, 2023. The Regulation offers new tools for the European Commission (Commission) to investigate financial contributions from non-EU countries to companies operating in the EU to prevent distortions in the internal market. This specific State aid regime provides for an extended application of EU rules and the Commission’s competencies beyond the EU borders. One of the notable features is that the […]

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12 Jan 2023

Bogdan Gecić Talks to Forbes About Proactive Customer Service

Bogdan Gecić, Founding Partner at Gecić Law, was quoted in Forbes, the leading global business publication, in an article titled “9 Effective Ways to Be Proactive About Customer Service”. Bogdan joined a panel of experts and shared his perspective on how to manage customer service effectively. “Understanding the client’s business deeply and thinking of their immediate needs ahead of time is essential. One must build a culture focused on adding value and finding solutions to issues beyond the obvious. It would be best if you always walked the walk, fulfilling your promises with conviction. Those are elements of winning customer […]

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05 Jan 2023

(E-)invoicing in Serbia (2023)

At the beginning of last year, the Electronic Invoicing Act (“Act“) was passed, which entered into force on May 7, 2021.  Since the Act brought significant changes to the Serbian economy, the application of some provisions of the Act is postponed, so the latest set of provisions will apply from January 1, 2023.  It is when VAT payers must start issuing electronic invoices in all mutual transactions with other VAT payers from the private sector and transactions with public sector entities. Even in the very first stage of this Act, Gecić Law gave an insight into which novelties we can expect. The principal […]

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29 Dec 2022

CBAM Final Deal – The World’s First Carbon Border Tariff

The European Union is fast-tracking the road to a greener future as EU institutions reach provisional agreements on the Carbon Border Adjustment Mechanism (“CBAM”) and the EU Emissions Trading System (“ETS”).  After round-the-clock negotiations between EU officials, the “Fit for 55” legislative package with the ultimate goal of reaching carbon neutrality by 2050 is now being finalized.  What are the implications for non-EU countries?   EU’s Climate Action Recognizing the threats of climate change, the European Union adopted a range of climate laws, which includes the ETS and the CBAM, as part of the revolutionary “Fit for 55” legislative package.  In contrast to the […]

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26 Dec 2022

The Business Registers Agency Hikes Fees

The end of the current year and the beginning of the new year bring changes in the form of a fee hike applicable to all legal entities covered by the Business Register Agency (“BRA“).  The November Decision on Registration Fees and Other Services brought by the BRA of the Republic of Serbia increased fees for almost all services provided by the Agency (“Decision“).  Among others, the Agency changed fees for registration of incorporation, data changes, registration of other data, and deletion of data.  This change is of great importance to anyone planning any corporate changes, bearing in mind that the […]

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23 Dec 2022

European Court of Justice: Public Registries are too Public

The Judgment of the European Court of Justice (“ECJ“) from November this year raised the issue of compatibility of proclaimed fundamental human rights with public registers of ultimate beneficial owners available to all interested parties (“Judgment“). According to the Fourth Anti-Money Laundering and Terrorist Financing Directive (the “Fourth AML Directive“), all European Union member states were obliged to make public the registers of beneficial owners of companies operating in their countries so that they can be accessed by any person who has a “legitimate interest.” Accordingly, in 2019, Luxembourg passed a law confirming this directive.  It established a register of ultimate […]

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22 Dec 2022

The First Effects of the DMA

The European Commission (Commission) continues to work on implementing the Digital Markets Act (DMA).  On December 9, 2022, the Commission published a draft regulation on implementing the DMA and annexes.  Public consultations are currently underway until January 6, 2023.  The Commission would like to consider the input of different publics and take on board their suggestions, comments, and proposals when finalizing this draft regulation.  Feedback received will be published on the Commission’s website and must adhere to the rules for input and suggestions.  To participate in the public consultation process, interested parties must register. The regulation aims to ensure fair, efficient, and complete […]

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20 Dec 2022

Bogdan Gecić to Serve as Board Member of the UAE & Serbia Business Club

Gecić Law is proud to announce the appointment of its Founding Partner Bogdan Gecić to the Board of Directors of the UAE and Serbia Business Club. The United Arab Emirates and Serbia Business Club announced that it had elected Bogdan Gecić to take on this important role in the prestigious organization at its annual Assembly held last week.  The United Arab Emirates and Serbia Business Club was established in 2019 on the initiative of the UAE Embassy in Serbia and the most reputable companies from the UAE and Serbia. Gecić Law was among the founding members of the organization. The UAE and Serbia Business […]

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19 Dec 2022

Shibolet and Gecić Law Held Webinar on New EU ESG Regulation

Our Founding Partner, Bogdan Gecić, took part in a webinar organized by the preeminent Israeli law firm Shibolet titled „The Effect of New EU Regulation on Israeli and Global Trade.“ The audience, primarily Israeli businesses in diverse industries, had the opportunity to hear from leading experts in both ESG and EU law and international trade about how the EU’s new ESG regulation may affect trade relations with the EU and what they can do to prepare. Galit Ofer, Partner at Shibolet, introduced the panel and provided an overview of the ESG agenda and the significance of EU-Israel trade relations. She […]

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15 Dec 2022

Jovana Veličković Joins Gecić Law as Partner and Head of Dispute Resolution

Underscoring the importance of top-notch dispute resolution in strengthening the firm’s market-leading capabilities, Gecić Law is delighted to announce that Jovana Veličković is joining the team as a partner and head of Dispute Resolution. Jovana will continue building on the successes of the practice in complex litigation, regulatory proceedings, arbitration, and mediation, ensuring that our current and new clients benefit from the outstanding results and professional excellence of the renowned Gecić Law Dispute Resolution team. Jovana is a seasoned lead litigator with more than a decade of experience focusing on commercial litigation with a strong track record of representing and […]

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14 Dec 2022

Gecić Law and Manpower select winners of Empower IT competition

The final evening of the Empower IT contest was held last night at the Startit Center in Belgrade.  Manpower organized the competition in cooperation with Gecić Law, the Faculty of Organizational Sciences, FONIS, Levi9, and TPA Serbia .  The finalists had the opportunity to present their projects again to the jury, who then voted and announced the competition’s winner.  The winning team was 3 Pixels which won a prize of 150,000 dinars for their project Check and Connect. The Empower IT competition allowed young IT and business experts to apply their knowledge and skills to solve specific IT problems and […]

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13 Dec 2022

Bosnia and Herzegovina Knocking on the EU’s Door

A significant and long-awaited day for Bosnia and Herzegovina! As announced by the Council of the EU, the EU General Affairs Council recommended granting the candidate status to Bosnia and Herzegovina.  The European Council will make the formal decision on Thursday, December 15, at the summit of the leaders EU’s 27 in Brussels. It’s been six years since the country submitted its formal application for full membership in the EU back in 2016.  The process is now nearing its conclusion, and yet another Western Balkans country is about to reach its primary goal – attaining candidate status as an essential step […]

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12 Dec 2022

Gecić Law takes part in this year’s CSR & ESG Forum

Our colleague Nemanja Sladakovic took part on Friday in a panel discussion titled “Expert talks – How to measure sustainability? News that will influence sustainability reporting cycles”, held as part of the CSR Forum organized annually by the Responsible Business Forum. Panelists discussed how sustainability is measured and what changes will affect ESG reporting cycles. Nemanja spoke about introducing the EU Carbon Border Adjustment Mechanism (CBAM), which will significantly affect the economies of countries with a significant share of exports to the EU. Other participants in the panel were Vladica Janković from the Statistical Office of the Republic of Serbia, Danko Kalkan, Ernst & Young, Nina […]

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08 Dec 2022

EU and Western Balkans Commit to Reducing Roaming Fees

European Union (EU) and Western Balkans telecommunication operators signed a Roaming Declaration at the EU-Western Balkans Summit held on Tuesday in Tirana. According to the Declaration, Western Balkans – EU roaming charges will be reduced voluntarily from 1 October 2023, with subsequent reductions gradually leading to their complete elimination. The commitment was also reinforced as part of the Tirana Declaration, which was agreed upon at the Summit. The initiative is another crucial step in bringing the Western Balkans closer to the EU. It aims to enhance connectivity, mobility, and affordability of telecommunication services for individuals and businesses, contributing to more opportunities for […]

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05 Dec 2022

Miloš Petaković Discussed Banking and Finance at CEE Legal Matters Round Table

Our Senior Associate Miloš Petaković took part in a round table on the Status of Banking and Finance in the CEE Region recently organized by the preeminent regional legal publication CEE Legal Matters, joined by colleagues from eminent law firms throughout the region.   Miloš drew from his substantial experience in the sector and explained the current situation in Serbia with the industry’s numerous changes. Among other things, Miloš said: “Serbia is in a similar situation to most of the (CEE) markets – the majority of banks are EU-based and are part of the bigger EU banking groups. Still, we do have banks […]

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25 Nov 2022

Bogdan Gecić Talks for Tačka Povratka Podcast

Our Founding Partner Bogdan Gecić recently had an inspiring conversation with Ivan Brkljač for the new episode of the podcast of the organization Tačka Povratka. Bogdan evoked memories of his vast international experiences as a circular migrant, living and working in several countries and continents since his early childhood and returning to Serbia. He offered his views on living abroad, coming back to Serbia and the advantages and disadvantages of the life experience provided by circular migration. Bogdan spoke of his views on origins and culture and the importance of repeats for the country. Among other things, Bogdan said: “A […]

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25 Nov 2022

Bogdan Gecić and Ognjen Colić speak with B92

We were recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an […]

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23 Nov 2022

Frontex Negotiations Reopened

New developments are coming up in Frontex agreements!  On November 18, 2022, the European Council gave the green light for the opening of negotiations to broaden the already signed cooperation agreements between Frontex and four Western Balkans countries (Albania, Bosnia and Herzegovina, Montenegro and Serbia). This cooperation reflects the European integrated border management concept with non-EU countries and enables Frontex to carry out joint operations and deploy staff in these countries.  The arrangement became operational in 2019 with the signing of the first agreement with Albania.  Apart from the above countries, it includes Moldova and North Macedonia. On the other […]

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22 Nov 2022

Bogdan Gecić and Miodrag Jevtić speak with Telegraf

We were recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an […]

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21 Nov 2022

Bogdan Gecić Talks Competition Law with Florence University Students

Our Founding Partner Bogdan Gecić shared his significant knowledge and experience with law students at the esteemed University of Florence (ita. Università Degli Studi di Firenze) as a guest lecturer to a class led by Prof. Ettore M. Lombardi. Students had the opportunity to participate actively in an online two-part mini-course titled “Elements of Competition Law: An International Perspective.” Bogdan provided practical insights into the most exciting aspects of competition law in the context of EU law and how they relate to international trade. Bogdan commented: ”I always enjoy speaking to students, and it was a great pleasure to hold […]

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18 Nov 2022

Ivana Stojanović Raišić and Vuk Leković speak with eKapija

We were recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an […]

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17 Nov 2022

Global Competition Review: Serbia raids food delivery app

Serbia’s competition authority has opened an investigation into Glovo, alleging the food delivery application abused its dominance by imposing exclusivity clauses on its restaurant partners. The agency raided the offices of Glovo on 2 November although the authority’s market study into online food delivery platforms is still ongoing. This and other recent raids have caused controversy over the practice and attracted the interest of Global Competition Review, a reputable global publication specialized in matters of competition law. The raids come as Serbia’s competition rules are being challenged before the courts in competition-based proceedings and also before the Constitutional Court per […]

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14 Nov 2022

European Parliament Adopts CSRD

On November 10, 2022, the European Parliament finally adopted the Corporate Sustainability Reporting Directive (“CSRD“). The CSRD intends to expand the application of corporate sustainability standards across the market by including an even larger specter of business entities compared to the application scope of the Non-financial Reporting Directive (“NFRD“). NFRD applied only to large companies with more than 500 employees. In contrast, the CSRD comes with larger ambitions and will apply not only to large companies but also to listed SMEs and third-country companies with significant operations on the EU market and a daughter company or a branch office in the […]

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10 Nov 2022

COP 27 – All you need to know

The “Conference of the Parties,” known as “COP“, is an annual gathering of the nations that have ratified the United Nations Framework Convention on Climate Change (“UNFCCC“), the Kyoto Protocol, or the Paris Agreement. This year’s COP 27 is taking place in Sharm El-Sheikh, Egypt, and marks seven years since the Paris Agreement adoption at COP 21 and thirty years since UNFFCCC was adopted. The theme of this year’s COP is ‘Together for implementation ‘. COP 27 kicked off on November 8, 2022, and participants are ministers, world leaders and negotiators deciding how to combat climate change and all its effects collectively. Moreover, to […]

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09 Nov 2022

Legal Treatment of Foreign Citizens and Liberalization of The Labor Market

According to the International Monetary Fund, in the next 30 years, Serbia could lose as much as a fifth of its domestic workforce.  On the other hand, the Serbian economy shows an opposite trend, and its growth creates a need for additional labor.  When the domestic labor market cannot meet the demands of employers, this opens the doors for foreign workers.  Of course, the national labor market is designed so that domestic citizens have a better position while foreigners face certain (legal) obstacles.  In that sense, in this analysis, we raise the question of the legislative treatment of foreigners in […]

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07 Nov 2022

It’s time to harmonize your business seat address with prescribed elements!

The latest amendments to the Companies Act (“Act“) from 2021 specify the mandatory elements of the headquarters of each enterprise. Each registered office address must contain information related to the city, municipality, street or square, house number, floor, and apartment number.   This way, enterprises are obliged to harmonize the address of the headquarters with the Act. The deadline for the harmonization above is November 27, 2022. As businesses must register their headquarters address with the Serbian Business Registers Agency (“Agency“), they should synchronize this data in the appropriate register to include any missing data. The deadline for the Agency […]

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04 Nov 2022

Attention, Tech Companies: The Digital Markets Act is Now in Effect!

The EU Digital Markets Act (DMA) entered into force on November 1, 2022, and it will start to apply in early 2023, while its “partner in crime,” the Digital Services Act, still awaits its moment in the limelight, announced to ensue in a year. Together they form a single set of new rules which aim to apply across the whole of the EU to create a safer and more open digital space.  One may say it’s all about digital, but essentially, it’s all about undistorted competition in digital! A New Digital Era Begins with the DMA! The DMA rocked the tech […]

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03 Nov 2022

Bogdan Gecić – New Ideas Nominated For European Awards

We recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an unprecedented […]

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02 Nov 2022

Welcome, Digital Markets Act!

November 1, 2022, was a big day for the EU! And not only the EU.  The EU Digital Markets Act (DMA) finally saw the light of day. As its implementation will start in six months, we need to be ready for all the changes it will introduce in the tech world. Incited by the good old competition case law, the DMA will tackle the concerns that the European Commission (Commission) had in its previous practice. So, on the one hand, there will be loads of new obligations to the tech companies meeting the criteria of being designated as gatekeepers, and on the […]

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25 Oct 2022

ESG: A New Tool in M&A

Intralinks recently published a report on Environmental, Social and Governance (“ESG “), which looks at ESG and how it gained prominence in European M&A. The main idea of the report is to demonstrate ESG’s impact on the M&A decision-making processes, supported with statistics to depict the impact intensity. The Intralinks survey shows that only 3% of the survey respondents were not concerned about ESG issues during their latest M&A transaction. In comparison, 41% of respondents said that the ESG drove their last transaction, and the remaining 56% stated that the ESG was not the primary motivator for their latest deal, but they considered […]

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21 Oct 2022

Investing in the real estate market in the Republic of Serbia

Continuing our series on opportunities for investment in Serbia, we discuss the real estate sector.  Historically, countries have been reluctant to allow foreigners to acquire real estate. In the past, real estate (primarily lands) symbolized its owners’ power, and today apartments, buildings, houses, properties, mines, and fields have significant worth. Nevertheless, globalization has increased the dynamics of “international” real estate trade. Real estate has thus become an important segment in international investment, both as a secondary part of the project (leasing or even buying space for the investors’ regular business operations) and as the very purpose of the investment (real […]

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18 Oct 2022

EU and ASEAN Sign World’s First Air Transport Agreement

The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) signed yesterday in Bali the world’s first bloc-to-bloc Comprehensive Air Transport Agreement (CATA).  Most EU member states so far have had bilateral agreements with some of the ASEAN countries, with different scopes and rules. However, very few had such arrangements with all the countries of ASEAN. The new agreement now includes all member states of each region and replaces all existing contracts with a unified framework, connecting more than one billion people. The agreement aims to revitalize air travel and transport between Southeast Asia and Europe, which has […]

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17 Oct 2022

Gecić Law Shoots for the Stars with Most Nominations in All of Europe

Gecić Law continues to reach new heights year after year, receiving even greater recognition for its passion for innovation, consistent growth, and excellence in the legal profession at the highest level.  The coveted The Lawyer European Awards have nominated us for the fifth year in a row including us among Europe’s finest law firms. Only, this year, the firm stands neck-to-neck with global powerhouses the likes of Latham & Watkins, with the most nominations among this year’s contenders across all of Europe – an unprecedented feat any law firm in the region has ever achieved. As last year’s first-ever Law firm of the […]

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14 Oct 2022

The DMA is Here – And Now What?

Europe is now fit for the digital age as the long-awaited Digital Markets Act (DMA) was published in the Official Journal on October 12. Adopted by the European Parliament in September, the DMA will enter into force on November 1 and start to apply in May next year.  The act provides a framework to prevent the most prominent digital companies, the so-called “gatekeepers,” from abusing their market power, ensuring greater competition in digital markets, and sparking more innovation in the industry. The DMA will primarily target the world’s most powerful corporations in the IT industry, commonly referred to as the “Big Five” […]

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13 Oct 2022

Protecting the Rights of Platform Workers

We come across platform work daily, but do we know how it works? Platform work is a new way to hire paid work on online platforms. Online users can access platform workers who offer a wide range of paid services. These platforms include Uber, Wolt, Deliveroo, Glovo, to name a few. Both consumers and labor can gain significantly from the platform economy, part of the broader phenomenon known as the gig economy. Digital platforms make it simpler for anyone to become self-employed and earn regardless of socioeconomic standing by having low entry requirements and flexible working hours. In the same way, […]

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11 Oct 2022

Gecić Law continues its humanitarian activities: Certificate of appreciation for participating in the “Save Food, Save Humanity” campaign

On Sunday, our representatives, led by senior associate Danica Misojčić attended the National Day of Giving ceremony.  Gecić Law received a certificate of appreciation for participating in this year’s “Save Food, Save Humanity” campaign. We once again felt the pride and immense pleasure of helping those in need, expressing our commitment to our core philanthropic values, which are growing daily.  We hope to encourage others to share these values with us. How did we contribute?  First, individual food donations from our team members to the Center for Social Integration of Children and Youth “Zvezda.” In addition, we bought (and are […]

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11 Oct 2022

Successfully organized Yard Sale: Gecić Law and friends collected donations for NURDOR

On Sunday, October 9, 2022, a humanitarian “Yard Sale” was held at the Endžio Hub, an initiative of Gecić Law supported by the Serbian Chamber of Commerce, Ferdinand Knedle, the New Media Team agency, and other partners.  Volunteers of the National Association of Parents of Children with Cancer NURDOR collected donations, and visitors had the opportunity to choose from the many items on offer. This humanitarian event is unique because the items were donated by members of the Gecić Law team, their associates and partners. A wide choice of beautiful items from the homes of generous people was available as […]

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10 Oct 2022

Taboroši Scholarship 2022 – Applications now open!

Gecić Law is pleased to announce that we have opened the application process for the Taboroši Scholarship for the fifth consecutive year. About the Scholarship The Taboroši Scholarship was established in memory of Professor Svetislav Taboroši, by family members and former students who have been inspired by the professor’s work and dedication to academic research and innovative problem-solving in the practice of business law.  A brilliant teacher and scholar, Professor Taboroši strived to educate his students on the most recent trends in legal academic thinking and the importance of critical thinking in the academic and professional analysis of international law […]

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05 Oct 2022

Universal Chargers are Here to Stay!

Newsflash! The time has come for universal chargers to hit it on!   Following the provisional political agreement reached in June 2022 between the EU institutions, on October 4, 2022, the European Parliament passed a new law on universal chargers to ease reducing e-waste and enable more sustainable choices for consumers.   What does this actually refer to? Namely, all small and medium-sized mobile electronic devices will need to be equipped with a USB Type C port.  Thus, consumers will no longer have to use different chargers to charge their devices from different manufacturers.  The agreement will be applied to […]

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04 Oct 2022

The World at the Crossroads and Us

We bring you below in its entirety the op-ed authored by Elizabeth Chung, Executive Director at the International Academic Center EducationUSA Serbia, published in the weekly Vreme of September 29, 2022. The World at the Crossroads and Us Many will be amazed when they learn that Serbia is a leader in participating in the great intellectual exchange of youth within the framework of higher education. Today’s potential international student has much easier access to a global educational experience. From September 18th until September 21st the EducationUSA Europe and Eurasian Triennial Conference was held here in Belgrade attracting more than 50 […]

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27 Sep 2022

Spanish Agency Confirms – GDPR Applies to All

In August, the Spanish Data Protection Agency (Agencia Española de Protección de Datos, hereinafter: “Agency“) fined an NN person the sum of EUR 1,500 for violating the norms stipulated by the GDPR (General Data Protection Regulation), through the illegal collection and processing of personal data using a video surveillance system. (In the Decision issued by the Agency, the names of the parties involved were not disclosed, so the following terms will be used in the rest of this text: Injured party – person 1, Tortfeasor- person 2) What happened? The proceedings in front of the Agency were initiated by Person […]

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22 Sep 2022

Ognjen Colić Talks ESG at Forum Media Event

Our Partner and Head of Corporate M&A practice Ognjen Colić delivered an inspiring lecture about the latest in sustainable development and ESG, focusing on the EU’s Carbon Border Adjustment Mechanism (CBAM) and the practice of greenwashing in corporate non-financial reporting. Ognjen gave the attendants a comprehensive overview of these hot topics using examples and anecdotes from his rich experience in the field. The lecture was followed by a Q&A session and lively discussion on the topics. Ognjen explained the genesis of CBAM, its planned roll-out and its potential ramifications for businesses in Serbia.  He also spoke about the consequences of […]

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21 Sep 2022

Bogdan’s Keynote at EducationUSA Forum Featured in Euronews Serbia

Our Founding Partner Bogdan Gecić was honored to deliver the keynote address at the Opening Plenary Session of the EducationUSA Europe and Eurasia Forum, which was held in Belgrade from September 19-21. The opening session of the forum was attended by numerous dignitaries, high-ranking officials, members of the diplomatic community and representatives of US institutions of higher education and EducationUSA from across the two continents.  Bogdan was joined by H.E. Christopher R. Hill, U.S. Ambassador to Serbia, and Branko Ružić, First Deputy Prime Minister and Minister of Education, Science and Technological Development, who also delivered their opening remarks at the event. […]

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16 Sep 2022

CEE Legal Matters Comparative Legal Guide: Restructuring 2022

Gecić Law is proud to have contributed to the fifth CEE Legal Matters Guide in their Comparative Guides series, with a focus on Restructuring in Central and Eastern Europe. Our team members Danica Misojčić, Senior Associate, Miloš Petaković, Senior Associate, and Žarko Popović, Associate supported CEELM with a focus on Serbia by providing critical information on the legal framework for insolvency and restructuring. The guide provides intel on legislation, international instruments, and proposed or upcoming changes in restructuring insolvency. This includes which steps restructuring proceedings normally include and the roles of the courts and other key stakeholders. The guide also […]

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12 Sep 2022

Bloomberg Adria – Bogdan Gecić interview

Our Founder & Managing Partner Bogdan Gecić recently held a key discussion at Bloomberg Adria Serbia on the ramifications of the expected introduction of EU’s CBAM for the Adria & Balkans region. Bogdan discussed what this revolutionary new trade instrument, which will take effect in 2023, means for all companies from the Western Balkans and beyond that export to the EU. If adopted by the EU Council, every importer in the EU will have to pay tax on the goods they import into the EU if the goods are produced in countries that do not have an Emissions Trading System […]

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09 Sep 2022

September Interest Rate Hike by NBS

At today’s session, the Executive Board of the NBS decided to again raise key interest rates by 50 basis points, to 3.5% ,, the deposit facility rate – to 2.5% and the credit facility rate – to 4.5%. The NBS had previously increased the key interest rate as per the decision of the Executive Board on August 11, this year. The NBS’s Executive Board continued to tighten the monetary policy.,attributing this trend to increasingly rising inflationary pressure. According to the NBS, the Executive Board assessed that, in the conditions of continued price pressures, as well as the growth of imported […]

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07 Sep 2022

Cycling Down Sustainability Lane in Slovenia

ESG awareness is more than essential. Organizing various panel discussions on relevant topics is a must. Yet, what type of example does an event that encourages environmental sustainability set forth if they print a ton of unnecessary paper, each delegate travels to the venue with their own car or provide an all-you-can-eat buffet which leads to an embarrassing amount of food wastage. As they say, practice what you preach. Yesterday, our team Branko Gabrić, Counsel and Nikola Kovačević, Business Development Manager attended the Net 0 event in Maribor which was co-organized by the Institute of Strategic Solutions (ISR), Ministry of […]

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01 Sep 2022

Walking the ESG Talk: Green Finance Kicked Up a Notch

With ESG becoming such a hot topic and the global sustainable finance market reaching more than USD 35 trillion in value, there are expectations of further growth in this rapidly expanding sector.  The growth is fuelled on one hand by greater standardization in the area in major economies, including the EU taxonomy, but also a rise in innovation and an ever-greater variety of financial products that fall within this category. Case in point, interesting news has just recently came from the sector. On August 29th, one of the biggest banks in Europe, Raiffeisen Bank International AG announced that it has […]

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25 Aug 2022

Consumer protection disputes – have the long-awaited changes arrived?

For many individuals, consumer rights amount to an everyday battle. With the latest amendments to regulations, out-of-court dispute resolution are increasingly becoming a viable option. Suppose a consumer is not satisfied with the outcome of a settlement of a complaint filed with a merchant. The consumer dispute can be resolved out of court with the help of a third party who, according to the Consumer Protection Act (“Act”), must be: neutral, independent and impartial. As part of Serbia’s digitalization efforts, a platform has been established to satisfy these needs. What is it all about? The IT platform for out-of-court settlement […]

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18 Aug 2022

The Hitchhikers Guide to the Open Balkans

The Open Balkans initiative aims to encourage and facilitate cooperation among the Balkans countries. The initiative was conceived across the Balkans, where the different cities symbolize the various stages in the development of the Open Balkans initiative.  In this article, we present the chronology of building ties between the countries by virtually visiting six key locations. (Note: If you decide to visit these towns, we advise you to create your itinerary on Google Maps,  not by this article :D). The first location associated with the birth of the Open Balkans project (as we know it today) is Novi Sad, and […]

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15 Aug 2022

NBS – New Measures to Curb Inflation

As we discussed last week, the National Bank of Serbia (“NBS”) decided to hike the interest rate to 3%. In addition to this decision, several other measures were introduced aimed at reducing the growing inflationary pressures affecting the economy of Serbia.  One of the measures is the decision that all banks that have increased their fees for payment services since January 1, 2021, will reduce those fees by 30% starting September 1 or reduce these fees prior levels.  According to the NBS, the aggregate benefit of this measure to individual clients will amount to 7 billion dinars. In addition, NBS […]

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12 Aug 2022

EU Parliament Adopts Digital Services Package

Despite rapid developments in technology and business, EU laws on e-commerce have not been updated for more than 20 years.  To keep up with the digital revolution, the EU Parliament („EP“) adopted the Digital Markets Act (“DMA”) and the Digital Services Act (“DSA”).  The  DMA was adopted in July 2022 and it will start to apply at the beginning of 2023.  As for the DSA, it is expected to be implemented in early 2024. Why was the DMA adopted? This act provides a framework that is tailored to the major influence of the largest digital companies, known as “gatekeepers” – […]

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11 Aug 2022

NBS Hikes Interest Rates Again

The Executive Board of Serbia’s Central Bank (“NBS”) voted today to raise key interest rates by 25 basis points to 3%, in a fifth hike this year. The credit facility rate is now 4% and the deposit facility rate is 2%, all increased by 25 basis points. The Executive Board decided that an additional tightening of the monetary policy is necessary, and that year-on-year inflation is expected to peak during the current quarter and then start declining.  In conditions of continued cost pressures and growth of imported inflation beyond all expectations, the NBS is aiming for a balanced approach that […]

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09 Aug 2022

Gecić Law contributes to TerraLex Cross-Border Guide to Crypto Assets

Gecić Law is proud to announce that it has contributed to the inaugural edition of the TerraLex Cross-Border Guide to Crypto Assets for the jurisdictions of Montenegro and Serbia.  The guide is now live and is free to access.  This confirms our team’s pioneering expertise in one of the hottest fields of law today. As the exclusive member of TerraLex in the jurisdictions, Gecić Law is a regular contributor to the TerraLex Cross-Border Guides in a broad array of practices. The guides are unique as they offer a comparative perspective on legislation across fields and jurisdictions throughout the world, offered by world-class […]

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08 Aug 2022

Google Play Store Under the Radar of the EU’s Competition Watchdog

The European Commission’s (Commission) antitrust enforcers are investigating Google Play Store.  The antitrust enforcers are now looking into the restrictions Google has placed on the Play Store app market. According to the sources, the Commission has sent a confidential questionnaire to several companies that use the Play Store.   Most of the questions are about the billing terms and fees they must pay to this tech giant to be listed in its application catalog. Any purchase made inside an application (in-app) that has been downloaded from the Play Store is subject to a 15% to 30% fee that Google charges.  Publishers […]

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04 Aug 2022

Investing in the pharmaceutical sector – Serbia

As part of our series on investment opportunities in Serbia, this time we delve into the pharmaceutical industry.  The coronavirus pandemic demonstrated that Serbia has significant potential in the sector that is still running strong.  Unlike other industries, the pharmaceutical industry has been showing unprecedented growth. The high demand for medicines, supplements, basic hygiene products and disinfectants, and other medications has shown that there is a strong need for businesses and institutions that will meet this demand.  In that sense, Serbia’s pharmaceutical industry showed high efficiency and managed to establish and maintain regular supply, stable production, and unhindered imports as […]

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28 Jul 2022

The Personal Data Protection Act Revisited

Although the Personal Data Protection Act (“Act“) has been in effect for four years, it seems that its provisions have not yet been fully implemented in practice, nor have all companies in Serbia fully adapted to them. Non-compliance with the obligations prescribed by the Act especially starts hurting when inspections are carried out by the Commissioner, and a new round is being announced. So, let’s take a moment to revise what companies should pay attention to when it comes to complying with the Act. Back to basics The general obligations of companies are contained in the principles of the Act. […]

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21 Jul 2022

A Wrecking Ball in a UK Demolition Cartel’s Courtyard?

We recently wrote about bid rigging and the new guidelines issued by the Serbian NCA on detecting this illegal activity in public procurement procedures.  Here we look into an interesting case that illustrates how bid rigging occurs and is dealt with in the United Kingdom.  After it had initiated an antitrust probe in 2019, The UK’s Competition and Markets Authority (“CMA”) came across a cartel activity of 10 demolition companies that plotted to rig bids for demolition and asbestos-removal contracts worth more than £150 million.  The contracts in question were the result of tenders organized by the MET Police Training […]

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07 Jul 2022

Inflation – an (old) new phenomenon in the global economy

These days, after many years, inflation is back as a central topic of discussion for governments, businesses and individuals.  Media reports across the globe talk of central banks tightening monetary policies and hiking interest rates to protect their economies.  As inflation rises, financial and other markets face another aspect of uncertainty and the end is still not on the horizon.  What does all this mean and why is it important? Why? The issues that began with supply chain issues attributed to the Covid pandemic have now continued and taken a new form with the escalation of global tensions during this […]

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05 Jul 2022

Football on Thin Ice – The potential implications of the ISU case judgement on the ESL

Last year, the top 12 European football clubs formally agreed to organize a separate competition.  Gecić Law has already given legal insights on establishing the European Super League (“ESL”) – the football league that may never start.  The ESL aims to compete with – if not completely replace – the current UEFA Champions League, the elite European football championship organized by the UEFA.  The ESL has experienced tremendous pressure from the fans, officials, coaches, players, other stakeholders and especially UEFA, which resulted in (temporary) stopping the initiative.  Much of the opposition to the ESL stemmed from fears of elitism and […]

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30 Jun 2022

Bogdan Gecić Talks The Buzz with CEE Legal Matters

Our founding partner Bogdan Gecić was invited by the preeminent regional legal publication CEE Legal Matters to speak for The Buzz section of its July issue. Bogdan spoke about current trends in the business and legal environments in Serbia and the broader region. In the interview, he highlighted strengths in several high-growth sectors, including renewable energy, telecommunications and media, electric vehicles and components. He also discussed regional initiatives such as the Open Balkan and its ramifications when it comes to the free flow of goods, capital and labor, the latter being a key determinant of growth for the Western Balkans […]

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27 Jun 2022

Gecić Law Supports Revolutionary Business Law Book Launch

As great admirers of innovation, it always gives us pleasure to celebrate revolutionary endeavors.  This is especially when it comes to education in business and law.  Last Tuesday, our team came together in support of the launch of a new book with authors with whom the firm has close professional cooperation.  Titled “Business Law in the Digital Age” by Dr Đorđe Krivokapić and Andrea Nikolić, the unique edition will serve as a coursebook for students in Business Law at the Faculty of Organizational Sciences of Belgrade University. The Gecić Law team gathered at the launch event which brought together an […]

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24 Jun 2022

Branko Gabrić Joins the Firm

We have recently had many reasons to be proud of our team which has gone from strength to strength.  We are also pleased that the team is continuously growing as it is joined by individuals able to draw on their vast knowledge and experience to boost the firm’s further growth and development.  Gecić Law is proud to announce that Branko Gabrić has joined the firm which confirms our commitment to professional excellence and a deep understanding of the needs of our clients as the basis for achieving great results in legal services. Branko is a true veteran of the airline […]

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23 Jun 2022

CBAM Adopted by EU Parliament

Building on our CBAM series, we can now report that the CBAM was adopted by the EU Parliament (“Parliament”) on June 22, 2022.  The next step is the EU Council approval (“Council”).  Even though there are still some differences regarding the approach between the Parliament and the Council, it is assumed that their shared vision of the overall goals will be decisive in finding a compromise on regulation introducing CBAM. Back in 2005, the EU established the EU Emissions Trading System (“ETS”), which has since become a cornerstone of the EU’s climate change policy and its most important tool for reducing […]

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21 Jun 2022

Corporate Reporting – the Decision Day

Today in Brussels, the EU parliament, EU governments and the European Commission will try to agree on uniform rules for corporate reporting on environmental, governance and social standards (ESG).  This will be the last time that the lawmakers meet to confirm the new reporting rules. Pascal Durand, the lead negotiator for the European parliament, stated ahead of the meeting: “If we strike a deal tonight, the EU will set the tone of the global conversation on sustainable standards for the company of the 21st century.”  This highlights the importance of the new uniform reporting rules for the companies, and as […]

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20 Jun 2022

Bogdan Gecić talks to Forbes about team performance

Bogdan Gecić, the Founder and Managing Partner at Gecić Law, was quoted in Forbes, the leading global business publication, in an article titled “Nine Ways To Support An Average Or Low-Performing Employee”. Bogdan was asked to join a panel of experts and share his perspective on the best ways to help associates improve their performance. “A leader must be mindful of at least two things: One is that each member of the team is unique and complex in their own way and, therefore, requires a tailored approach to perform at their best. The other is that we must learn to […]

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17 Jun 2022

General’s Court Judgement Creates Two Massive Headaches for the European Commission

In January 2018, the European Commission (Commission) imposed on Qualcomm, a US chipsets company, a fine of close to €1 billion for abuse of dominance from February 2011 to September 2016.  The Commission found the company liable for prompting Apple to conclude agreements with incentive payments and make it exclusively bound by Qualcomm’s LTE chipsets to be incorporated into their devices.  This had, ultimately, led to anticompetitive effects on the relevant market. Qualcomm challenged the decision which was annulled in its entirety on June 15, 2022, by the General Court of the EU (Court) for two reasons – procedural irregularities […]

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17 Jun 2022

SCA adopted the proposal of the Model Program for Business Compliance with the Competition Rules

On June 17, 2022, the Council of the Serbian Competition Authority (“Council“) adopted the proposal of the Model Program for Business Compliance with the Competition Rules (“Model Program”), in order to help the undertakings in developing their own compliance programs. In that sense, the Council points out that the Model Program represents only an example and a proposal to the undertakings, and that each compliance program should be made in accordance with the specific needs of a certain undertaking, as well as adjusted with the markets on which a particular company operates. The aim of the Model Program is to assist undertakings […]

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17 Jun 2022

The Legal 500 Series: Bogdan Gecić enters Hall of Fame

In this edition of our series dedicated to our esteemed colleagues who were recognized in this year’s The Legal 500 EMEA rankings, we bring you our founder and managing partner Bogdan Gecić.  After being recognized by The Legal 500 as a Leading Individual in Competition for seven consecutive years, in this year’s rankings, Bogdan was especially honored by being amongst the distinguished few to be inducted into the elite global directory’s newly established EMEA Hall of Fame category, which highlights the law firm partners who are at the pinnacle of the profession having received constant praise by their clients for continued […]

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16 Jun 2022

Gecić Law team talks ESG at TerraLex Global Meeting

The first post-covid Global Meeting of the elite global legal alliance TerraLex was last week’s highlight as lawyers from 180 member law firms from across the globe gathered in Oslo.  Delegates had the opportunity to learn, collaborate and network with their colleagues in a unique series of activities and a relaxed collegial atmosphere.  The Gecić Law team took to the center stage, as for the first time the alliance built its annual meeting around a single theme, choosing one of the hottest topics in the legal world today – ESG: Environmental, Social, and Governance.  The gathering took a multifaceted approach […]

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15 Jun 2022

Guidelines for Detecting Bid Rigging in Public Procurement

Collusive tendering or bid rigging is an illegal activity by which bidders create the illusion of competition while secretly agreeing among themselves which of them will win the tender.  By choosing the best price, the purchasers, who are frequently national and local governments, are forced to pay more than they would otherwise pay in conditions of fair competition.  Bid rigging is one of the most severe competition law infringements which causes damage to taxpayers given that public procurement participates to a substantial extent in the economy of each country.  It typically accounts for 12% of the gross domestic product, which […]

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15 Jun 2022

Open Balkans Summit Held in Ohrid

Six months after the last summit in Tirana, high-ranking officials from Serbia, Albania, and North Macedonia gathered again in Ohrid as a part of the Open Balkans Initiative.  This summit was also attended by the Commissioner for Neighborhood and Enlargement of the European Union, the Prime Minister of Montenegro, and the Chairman of the Council of Ministers of Bosnia and Herzegovina, indicating that the EU fully supports the Open Balkans Initiative, and signals that Bosnia and Herzegovina and Montenegro could soon become part of the Initiative. Summit in Ohrid was marked by further expansion of cooperation between Serbia, Albania, and […]

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14 Jun 2022

Serbia Takes Bold Steps Towards Renewable Energy

Serbian Mining and Energy Minister Zorana Mihajlovic revealed last week an aggressive national climate and energy plan that aims to increase the share of renewable energy sources (RES) fivefold to 15% by 2030, reducing dependency on coal and take Serbia into carbon-neutrality by 2050, in line with EU targets.  The EUR 35bn plan focuses on solar, wind and hydropower project and is set to mark a fundamental shift that should reshape its energy sector over the coming decades. She said the new energy and mining legislation that came into effect in 2021 is historic in its focus on RES and […]

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10 Jun 2022

CBAM Will Have to Wait

Building on our series of CBAM articles, we report shocking news from the EU Parliament.  Members of the EU Parliament (“MEPs”) unexpectedly rejected a series of legislative proposals from the “Fit for 55” legislative package, including the EU Parliament’s negotiating position on the introduction of a Carbon Border Adjustment Mechanism (“CBAM”). Back in 2005, the EU established the EU Emissions Trading System (“ETS”) which has since become a cornerstone of the EU’s climate change policy and its most important tool for reducing greenhouse gas emissions.  Since its inception, the ETS is constantly being reformed which was one of the goals […]

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06 Jun 2022

Open Balkan initiative – a step towards cooperation

With the idea of implementing the four freedoms of the European Union in the Western Balkans as soon as possible; movement of people, goods, services and capital, the Open Balkan initiative was launched in October 2019 by the leaders of Serbia, Albania, and North Macedonia.  It is a major step in cooperation between the three countries, aiming to increase trade and improve bilateral relations. Another important milestone is expected this week at the Summit to take place in Ohrid, June 7-8. The legal framework and basis for concrete activities within the Open Balkan initiative were established by declarations and agreements […]

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03 Jun 2022

CBAM Proposal: The Wind of Change

In anticipation of the June 7 plenary session when the European Parliament will take on the CBAM proposal, we delve into the key ideas behind and the expected game-changing impact of the regulation on international trade.  In this edition of our CBAM series, find out more about how this wind of change may affect consumers, businesses and economies across the globe. Why is the EU introducing a new carbon pricing policy? As a new policy, the Carbon Border Adjustment Mechanism (“CBAM”) is being developed to work in conjunction with the EU Emission Trading System (“ETS”) – a cornerstone of the EU’s […]

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02 Jun 2022

Legal 500 Series: Ognjen Colić, a Leading Individual

As part of our Legal 500 Series, we are delighted to present our partner Ognjen Colić.  Ognjen’s knowledge, experience and market-leading work in the region have been continuously recognized by The Legal 500 ever since 2019 when he was named Next Generation Lawyer.  In this research cycle, for the third consecutive year, Ognjen was honored as a Leading Individual in Commercial, Corporate and M&A.  The renewed accolade comes after a year of tremendous success in Ognjen’s practice and his appointment as a partner in the firm. Ognjen has headed the firm’s Corporate/M&A practice since its early stages after he joined […]

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01 Jun 2022

The SEC Takes Decisive Steps in ESG

Through several moves in recent months, the U.S. Securities and Exchange Commission (“SEC”) has demonstrated its will to put its proverbial money where its mouth is when it comes to ESG. Businesses often resort to window dressing in their ESG reports to showcase a pretty picture, using appealing ESG vocabulary without actually committing to any of these goals and values, and most importantly, without any accountability for what is being reported. The SEC seems to be interested in putting an end to such attitudes.  The body is increasingly showing resolve in addressing the practice of greenwashing reports and is doing […]

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31 May 2022

SCA Issues New Guidelines on Detecting Bid Rigging In Public Procurement

The Serbian Competition Authority (‘’SCA’’) revealed yesterday the long-awaited new Guidelines on bid-rigging (‘’Guidelines’’).  The Guidelines provide essential instructions on how to detect rigged bids in public procurement procedures.  They come 11 years after they were last updated, reflecting the latest amendments to the Public Procurement Act and the Criminal Code. This news is crucial as the new Guidelines aim to prevent and hinder bid-rigging, an illegal practice where bidders collude to decide the winner, resulting in a higher price than may have been achieved in a truly competitive bidding process.  As prices are driven up in public procurement processes, […]

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27 May 2022

Warming Up CBAM Regulation to Cool the Earth

What has been in the making for years now is set to become a reality very soon.  The EU’s Carbon Border Adjustment Mechanism (“CBAM”) is expected to be adopted at the plenary session of the European Parliament, which will be held on June 7, 2022.  The EU is finalizing its plans to introduce a charge at its border for carbon emissions associated with products sold in the EU.  This is likely to mark a tectonic shift in international trade with far-reaching implications for businesses and economies around the world that rely on exporting their goods to the European Union.  In […]

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26 May 2022

The Legal 500 Series: Ivana Stojanović Raišić – a Rising Star

Gecić Law is delighted to present to you a series dedicated to the individuals who are responsible for the firm’s continued successes over the years, as seen through the eyes of this year’s The Legal 500 EMEA rankings. In this first edition, Gecić Law brings you a success story dedicated to Ivana Stojanović Raišić who was recognized by the Legal 500 as a Rising Star in our Competition Law practice.  After joining the Gecić Law team five years ago, Ivana has built a fully rounded experience in Competition Law, Banking & Finance and M&A, which she further refined by delivering […]

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24 May 2022

ESG Means No Playing Favorites: The Tesla Case

Keeping up with the latest news concerning the ESG can be hard considering all the related events shaking the globe lately.  However, there may be a few of us who have not heard of Elon Musk’s outburst last week about ESG being “an outrageous scam” after Tesla was dropped from the S&P 500 ESG Index.  Why is this news important? Let’s start from the beginning.  When investors began considering aspects other than profit in their investments, that was the turning point for many corporations.  The launch of the S&P 500 ESG Index meant an evolution in (sustainable) investments, addressing the […]

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23 May 2022

Sustainability Information Mandatory Under New EU Rules

Leading economic minds are highlighting climate change as one of the most threatening factors to today’s relative economic prosperity.  Although environmental policies have been in place for a long time, they appear to have had little impact in practice.  The lack of clear definition and specific rules in the field may be an important factor, as this has been a cause of much concern and given raise to questionable practices, including the growing phenomenon of greenwashing – a deceptive method of marketing in which a product, good, or service is presented to appear to follow environmental protection principles intended to […]

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19 May 2022

EU’s New Vertical Block Exemption Regulation Revealed

On May 10, 2022, the European Commission adopted a new Vertical Block Exemption Regulation (“VBER“) and related guidelines (“Vertical Guidelines“), following a detailed review of the previous Vertical Block Exemption Regulation dating to 2010 (“old VBER“). The objective of the VBER is to exempt agreements between undertakings operating at different levels of the supply chain (“vertical agreements”): if certain market share thresholds are met, and provided the agreement does not contain certain prohibited restrictions (“hardcore restrictions”). In other words, the VBER aims to recognize which types of vertical agreements are generally efficiency-enhancing and provide benefits to consumers. One of the […]

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18 May 2022

Gecić Law Talks About Receivables Management with SMEs

Our colleagues Danica Misojčić, senior associate and Suzana Dončić, associate, led an interesting webinar yesterday, titled “Successful Accounts Receivable Management – Successful Business” where they gave an interactive and practical overview of this very important aspect of everyday business. The topic sparked the interest of micro, small and medium business owners and managers across the country, who were eager to learn more about an area crucial for the vitality of their businesses. The webinar was held as part of the „SDGs for All“ platform, which aims to strengthen the knowledge and capacities of micro, small and medium enterprises in the […]

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17 May 2022

ESG: Green Companies Require Green Management

It looks like ESG is taking another interesting turn in the corporate world.  Topics like ESG reporting are already standard, and governments worldwide are working hard on ESG reporting rules.  Companies have recognized how important it is for their businesses to wear a shiny green badge, so international companies are competing in how to best demonstrate their green agendas.  There is, however, a new initiative that gives rise to the development of “green management”.  Companies are increasingly linking the compensation packages of their executives to their performance on ESG principles.  In short, large multinationals are now including ESG criteria in […]

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13 May 2022

EU lawmakers back switch to zero emission vehicles by 2035

The Committee on the Environment, Public Health, and Food Safety (“ENVI”) decided on Wednesday to accelerate the shift to electric vehicles in Europe to reach increased climate ambitions. In July 2021, as part of the ‘’Fit for 55’’ package, the European Commission (‘’Commission’’) decided to propose an amendment to the Regulation 2019/631 to strengthen the CO2 emission performance standards for new passenger cars and new light commercial vehicles in line with the Union’s increased climate ambition.  Currently, carmakers need to ensure that their average fleet of new cars emits no more than 95 grams of C02 a kilometer. Lawmakers have […]

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11 May 2022

Gecić Law Announces Latest Team Promotions

After a successful 2021, our team continues its winning streak in 2022, so it is that wonderful time again when we proudly recognize the achievements of those that have contributed with their passion, expertise and hard work, and have consistently upheld the core values that our firm stands for – meritocracy, innovation, integrity, and philanthropy.  On this occasion, Gecić Law is delighted to announce another round of promotions within its team as we congratulate three of our esteemed legal professionals who will receive recognition for their significant achievements.  Our colleague Miodrag Jevtić is being promoted from Senior Associate to Counsel, […]

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06 May 2022

Gecić Law Contributes to the ICLG Consumer Protection Guide 2022

We are excited to announce that Gecić Law contributed to the Serbian chapter of the International Comparative Legal Guide (ICLG) – Consumer Protection 2022 published by the renowned Global Legal Group. The most recent edition of the Guide offers a comprehensive overview and detailed analysis of consumer protection law and practice in 15 jurisdictions across the globe. Authored by Gecić Law’s Senior Associate Danica Misojčić and Associates Suzana Dončić and Teodora Ristić, the Serbian chapter includes detailed information and insights into the country’s consumer protection rules and covers several key topics, including protections, prohibitions, investigation, enforcement, appeals and current and […]

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22 Apr 2022

Earth Day Special Report: Fit for 55

Today is Earth Day, a global celebration held on April 22 every year to show support for environmental protection. It began on April 22, 1970, and has since grown to include a diverse range of events coordinated globally, involving over a billion people in over 193 nations.  On Earth Day 2016, the United States, the United Kingdom, China, and 120 other countries signed the historic Paris Agreement.  To mark this important day, Gecić Law is bringing you a special Insights Report dedicated to the European Union’s legislative journey toward a carbon-neutral continent.  In July 2021, the European Commission (“EC“) adopted […]

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12 Apr 2022

EU Directive on Shell Companies

What are shell companies? These are legitimate legal entities that do not own assets or conduct business operations.  Although they are not illegal, they may be used illicitly.  Shares of shell companies are not traded on stock exchanges.  Most exist on paper only and are little more than a mailing address. That is why the European Commission (“EC”) has issued a draft directive on shell companies. Legal vs Illegal Use of Shell Companies   Examples of the legal use of a shell corporation could be to serve as vehicles in cross-border transactions, such as mergers and acquisitions. However, shell companies are […]

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08 Apr 2022

Ognjen Colić Talks M&A at the Faculty of Law

Our Partner and Head of Corporate M&A practice Ognjen Colić captured the imaginations of the students of the Faculty of Law in Belgrade yesterday as he delivered an interactive guest lecture focusing on mergers and acquisitions.  He gave the students a comprehensive overview of this fascinating field using examples and anecdotes from his rich experience in the field. Ognjen explained the key processes and negotiations that are crucial during a merger or acquisition.  Between due diligence, drawing up contracts, and signing and closing, he explained that legal teams must be meticulous and systematic in their approach. As Ognjen said, “Lawyers […]

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05 Apr 2022

Dow Jones Launches ESG Scoring

Dow Jones, the eminent global financial news and data provider, recently launched its sustainability data set for asset managers.   The purpose of the launch is to help the financial community to understand the impact of a company’s Environmental, Social and Governance (‘’ESG’’) practices. The data set shows sustainability scores for more than 6,000 publicly traded companies and includes Industry, Category and Country Scoring. As part of its methodology, Dow Jones uses a proprietary model which captures a large amount of information about environmental, social and governance elements of the ESG concept.  The information is intended to help investors build their […]

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30 Mar 2022

US defines its digital asset priorities

In times of crisis, cryptocurrencies found new roles in financial markets. We witness different forms in which cryptocurrencies are used to transfer value when the regular financial flows fail (or are just too laggy).  It seems crypto is here to stay and governments are taking stock and developing plans. This March, US President Joe Biden was determined to find a regulatory solution for crypto by kickstarting the legislative machine of the US with the Executive Order on Ensuring Responsible Development of Digital Assets (“EO”). The EO recognizes the explosive growth of digital assets as an opportunity to reinforce American leadership […]

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25 Mar 2022

Bogdan Gecić Discusses the Importance of Values in Forbes

Bogdan Gecić, Founding Partner at Gecić Law, was quoted in Forbes, the leading global business publication, in an article titled “10 Entrepreneurs Share The Most Important Early Business Decisions They Made”. Bogdan was asked to join a panel of experts and share his perspective on some of his most important early decisions as an eminent entrepreneur in the legal and professional services industry. “It was essential to select and start delivering on a set of core values in the very early stages of the development of the firm. Values are an authentic expression of what your firm is all about […]

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25 Mar 2022

Court of Justice of EU Specifies Protection Against Double Jeopardy

The Court of Justice of the European Union (“CJEU“) delivered two judgments on 22 March 2022.  By those judgments, the CJEU ruled on the scope of the protection afforded by the prohibition of ne bis in idem principle in competition law.  The CJEU recalled in both cases that the application of the ne bis in idem principle is subject to a twofold condition.  First, there must be a prior final decision and secondly, the prior decision and the subsequent proceedings must concern the same facts.  The CJEU clarified that the limitations may be imposed on the exercise of a fundamental right, such as the prohibition against double […]

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24 Mar 2022

Moody’s Expands ESG Scoring

As the focus on environmental, social, and governance considerations is becoming increasingly essential, and billions of dollars are invested in sustainable projects, the leading global rating agencies have incorporated these factors into their methodologies. Due to greater sensitivity to these topics and increasing client demand, as investors now must have a clear view of ESG aspects of potential investments, credit rating agencies have found distinct methods of assessing the impact in the past several years. They have since gradually expanded the scope and scale of their analysis in this area to include a broader array of sectors and entities. To […]

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