The New Swiss Rules for International Financial-Services Providers having Clients in Switzerland and Producers of Financial Instruments for the Swiss Market

Austrian credit institutions and other financial services providers rely heavily on the possibility of passporting their services to other member states of the European Union (EU) respectively European Economic Area (EEA) under the European freedom of establishment and freedom of services. When it comes to the cross-border provision of financial services to clients in Switzerland, […]

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In light of SCA under PSD2, we compare smsTAN and pushTAN technologies

On 14 September 2019, banks and payment service providers are due to introduce 2-factor authentication (2FA) in light of the implementation of Strong Customer Authentication (SCA) under PSD2. The Austrian banking regulator FMA has recently made use of its power to temporarily exclude merchants from the SCA application in order to facilitate a smooth introduction […]

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2nd Shareholders’ Rights Directive – Implementations in the Stock Exchange Act 2018

During a marathon session of the Austrian Parliament on 3 July 2019, the changes to the Austrian Stock Exchange Act 2018 proposed in the corresponding government bill, were adopted. As had widely been hoped for, and in line with demands by the banking industry in particular, Section 179 (7) of the Austrian Stock Exchange Act […]

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Reps & Warranties Insurances

Reps & warranties insurances simplify, accelerate and increase the value of M&A transactions. These insurances are able to help resolving or softening conflicts of interest between buyers and sellers. To facilitate a smooth process of taking up a reps & warranties insurance coverage, the involvement of an insurance broker should take place as early as […]

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A mortgage backed Security Token – vision or reality?

Crypto currencies and tokens are still among the trending topics. While the hype from 2016 to 2018 has focused mainly on so-called Utility Tokens, so-called Security Tokens are now “the next big thing”. Security Tokens offer investors the opportunity to invest in actual values. This distinguishes Security Tokens from Utility Tokens that – like vouchers […]

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Deal News – PwC Legal advises Max Brown 7th District

The Max Brown 7th District brings a fresh boutique hotel concept with exciting gastronomy to Vienna. Max Brown Hotels trusted the expertise of PwC Legal Austria under the lead of Karl Koller for its market entry in Austria. The Hotel Max Brown creates charming hotels in some of the most vibrant neighbourhoods in Europe. The […]

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M&A: Creating value beyond the deal – new report released!

“Creating value beyond the deal M&A report” by PwC in collaboration with Mergermarket and Cass Business School combines global insights from a survey of over 600 global corporate executives, revealing how dealmakers effectively create significant value via M&A and generate maximum returns. The research shows inter alia that companies prioritising value creation have the potential […]

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Revised Shareholders’ Rights Directive – final government bill expected for implementation

The Shareholders’ Rights Directive (EU) 2017/828 of 17 May 2017 (EU Official Journal L-132/1), in accordance with its title, aims at “the encouragement of long-term shareholder engagement”. This objective is to be achieved in particular by enhancing transparency and by enhancing an investors’ influence on processes in the company. The Directive essentially comprises measures in […]

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“Law and business” – new series of meetings with in-house lawyers in Cracow

On 22 November, a first of a series of events for in-house counsels co-organized by the Polish Association of Corporate Lawyers (PSPP) in cooperation with its strategic partner PwC Legal Poland took place in the beautiful city of Cracow. The idea is to bring together general counsels and other in-house lawyers from a big range […]

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Planned amendment to the Austrian Student Residence Act to be reviewed today

A planned amendment to the Austrian Student Residence Act was presented this week by the Ministry of Science. According to the ministry, it will be published today. Background The current Austrian Student Residence Act (StudHG) dates from 1986 and was last amended in 1999. Since in 1986 almost exclusively non-profit dormitories were operated, the law […]

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