Open banking in a closed market In 2014, Serbia made a big step forward in aligning its payment services regulations with the EU rules. The Payment Services Act, a local equivalent of the first Payment Services Directive (“PSD1“), was adopted, opening the doors of the industry to non-bank service providers. M&A trends in Serbia in light of COVID-19 Key takeaways from the ongoing UK data protection reform On June 17, the UK government introduced in the House of Commons the Data Protection and Digital Information Bill, a 192-page document containing numerous amendments to the country’s data protection laws. National Bank of Serbia risks own goal with the new position on cross-border secured transactions The new VBER and how it affects the assessment of vertical agreements in candidate countries The European Commission adopted in May 2022 a new Vertical Block Exemption Regulation (VBER) and new Vertical Guidelines (Guidelines), effective as of 1 June 2022 and valid until 31 May 2034. Auto Draft 4 Serbia to offer subsidies to employers registered in Serbia when hiring non-resident experts The Government of Serbia adopted the Decree on the Criteria for Granting Incentives to Employers Hiring Foreign Experts Relocating to Serbia, effective as of 18 June 2022. Serbian competition watchdog issues model compliance program The model program is a starting point for market participants interested in the creation of a compliance program. It contains suggestions as to what to include in the program, how to develop compliance trainings for the employees and procedures to be followed when infringement is suspected or discovered.

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BDK Advokati (BDK) is a full-service law firm with offices in Belgrade (Serbia), Podgorica (Montenegro) and Banja Luka (Bosnia and Herzegovina). The firm was established in 2004 and quickly reached the top-tier in Serbia. From the outset, the firm has also been active in transactions and litigation taking place in the neighbouring markets of Montenegro and Bosnia and Herzegovina. This experience was strengthened with the opening of offices in Podgorica in 2009 and Banja Luka in 2013.

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Check out the new service of BDK Advokati that helps users to quickly create legal documents through a process that is easy going, very intuitive and super reliable.