One of the most current news this year, which turned out to be equally interesting to both legal experts and IT industry professionals, was the adoption of the European Union’s Artificial Intelligence Act (“AI Act“) as the first regulatory framework regarding artificial intelligence (“AI“) adopted at the EU level. The aim of the AI Act is to bring the European Union (“EU“) to the forefront of the artificial intelligence race, while simultaneously ensuring the protection of human rights, the environment, the rule of law, and democracy.

CMS has advised Austria-based Rail Cargo Group on creating a joint venture with Serbia-based Transfera.

Karanovic & Partners has advised BIG CEE on its acquisition of Promenada Novi Sad from NE Property. LEF Attorneys advised NE Property.

In the practice of the Court of Appeal in Belgrade, in the judgment No. Gž1 1900/20 dated 19.03.2021 (“Judgment“), the following position was taken:

Schoenherr, working with Rutgers & Posch, has advised the shareholders of Resalta on the disposal of a controlling stake in Resalta BV Netherlands, including its Slovenian, Croatian, Serbian, Romanian, and Czech Republic subsidiaries, to Aggreko. A&O Shearman reportedly advised Aggreko.

Gecic Law, working with Fellner Wratzfeld & Partner, Von Wobeser y Sierra, and Pedersoli Gattai, has advised Remus Holding on the acquisition of a controlling stake in GLM from Star Capital Sgr. Giliberti Triscornia e Associati reportedly advised Star Capital.

Cytowski & Partners has advised Lupa Technology on its USD 1.8 million series seed with South Central Ventures. The same firm also advised South Central Ventures.

Contributed by PR Legal.

The Republic Geodetic Authority of Serbia (“RGZ“) announced in June 2024 that it has conducted a mass assessment of apartment values across Serbia, aiming to set a new standard in transparency and accessibility of real estate data.

New Customs Law brought about additional certainty in social relations – the subject law clearly envisages in its Article 35 that the customs authority may, in the procedure of post-release control/examination, verify the existence, authenticity, accuracy, and validity of any accompanying document.

Schoenherr has advised the Schwarzmueller Group on a partnership with the Krone Group. CMS reportedly advised the Krone Group.

Facial recognition has recently become something mundane: for example, every day we can see smartphones that offer the option to unlock the phone using the owner’s face.

Former SOG Law Firm Senior Associate Jelena Zivkovic has joined NCR Lawyers as a Partner.

While energy is still going strong in the Serbian market, others such as biotechnology and blockchain are certainly worth keeping an eye on, according to SOG in cooperation with Kinstellar Managing Partner Milos Velimirovic.

The National Bank of Serbia (“NBS”) has prepared a Draft Amendments to the Law on Payment Services (“Draft”) and invited experts and other interested parties to submit their suggestions and comments as part of a public consultation by 27 June 2024.

The rise of social media has transformed marketing strategies across the globe, and Serbia is no exception. Influencers - individuals with significant social media followings - play a pivotal role in promoting products and services. The influencer marketing industry has experienced remarkable growth over the past few years. As of 2024, it is projected to reach a market size of $24 billion, up from $21.1 billion in 2023. However, with this growing industry comes the necessity for regulation to ensure transparency, consumer protection, and ethical practices.

The market for corporate law firms in the Republic of Serbia has undergone significant change.

AP Legal has advised Raiffeisen Banka Belgrade on its issuance of MREL-eligible bonds on the Serbian market and their listing on the Belgrade Stock Exchange.