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ARTICLE · 05 JANUARY 2021

To The Point - Finance - Q4 2020

Schoenherr (Schönherr Rechtsanwälte)
Schoenherr (Schönherr Rechtsanwälte)
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Schoenherr (Schönherr Rechtsanwälte)

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As the end of 2020 approaches we are seeing a lot of changes in financial markets regulations, accelerated by the first serious economic downturn in a long time.

AustriaFinance and Banking
Paweł Halwa
Paweł Halwa
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Editorial| CEE

  • As the end of 2020 approaches we are seeing a lot of changes in financial markets regulations, accelerated by the first serious economic downturn in a long time. Many of the country-specific topics explored in this edition of to the point: finance are also relevant to CEE jurisdictions other than the one they address.

Crypto-assets are clearly a recurring theme in many CEE countries. Regulators are defining their approach to this category and indicating that despite popular belief, this area may fall within various regulatory regimes.

Front-end fees and other credit costs have already been the subject of a European Court of Justice (CJEU) ruling, which confirmed that in the case of early repayment, banks need to reimburse all charged costs on a pro rata basis. The wave of lawsuits against banks in Serbia suggests that in this non-EU jurisdiction provisions regarding front-end fees may in some cases be null and void.

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