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Once implemented, those initiatives will require significantly more efforts from parties involved in trade and foreign investments to ensure regulatory compliance. The pursued security aims will lead to enhanced monitoring, assessments and controls being put in place, which will have to be factored into a reframed regulatory compliance approach by affected parties.

The new EU regulation on electronic evidence will enable law enforcement authorities from one EU member state to order service providers in other EU member states to surrender digital evidence. Providers who fail to comply within ten days or, in urgent cases, within eight hours, could face fines of up to two percent of their global group turnover.

Although gender identity does not constitute sensitive data under the GDPR, its legal protection is nevertheless very robustly designed. Companies that choose to disregard it may face claims for damages and fines.

Former LGP Managing Partner Julia Andras has joined Schima Mayer Starlinger in Vienna as a Partner in the firm's Litigation department.

With artificial intelligence dominating tech conversations over the last year and with a draft AI Act being looked at by the EU, CMS Partners Dora Petranyi, Gabriela Staber, Klaus Pateter, and Olga Belyakova look at where AI is today and how European legislation might impact its future.

At the end of May 2023, the Austrian Ministry of Finance issued a new draft law. The Start-Up Promotion Act is intended to create a new regulation for start-up employee shareholdings that should apply to shares surrendered on or after January 1, 2024.