OECD’s Competition Open Day 2023  and two recent OECD workshops (Competition in Digital Markets: Recent Enforcement and New Regulations and Workshop on Procedural Safeguards in Competition Cases), as well as the latest roundtable session organised by the Joan Monnet South European Competition Law Center of Excellence at the Chamber of Commerce and Industry of Serbia (“Recent Developments in Competition Law and Policy in EU and CEE Countries: Open Issues and Challenges”) gave considerable food for thought on a range of key topics of interest and, on a practical note, confirmed some familiar views on the direction that competition law and policies are currently taking.

Discussions on enforcement in competition law and policy are an important trend and were the subject of discussion at the first panel session at OECD’s Competition Open Day 2023. In particular, enforcement is key in the context of competition law’s effectiveness in practice, not only through coercive (monetary and behavioural) measures taken by the authorities, but also in the context of broader awareness raising and compliance.

It’s clear that competition authorities around the globe have taken this struggle, not just “once”, but many times “more unto the breach”, taking an assertive approach to the fast-growing digital sector. These efforts have led to a flurry of investigations into tech companies (especially in the area of third-party data cases), as well as the ongoing development of competition-related technology to level the playing field. As stated during the OECD’s Competition Open Day 2023 discussion “Developments in Competition Enforcement – Enforcement Trends”, the Australian Competition and Consumer Commission (ACCC) is investing in the development of its own software and analytical tools, cartel screening technology and algorithms for market screening, with an emphasis on public procurement. It is working with an […]

NYSE-listed technology giant PAR (including PAR Technology Corporation, ParTech Inc, Punchh Inc, AccSys LLC, PAR Payment Services LLC) has chosen leading commercial law firm Stankovic and Partners as its official representative in the Republic of Serbia in accordance with the law on Personal Data Protection.

Under this law, foreign companies providing goods and services in Serbia now need to designate a personal data protection representative in the country. Failure to do so could result in significant penalties for the company concerned, as well as for the responsible person within that company. This appointed representative may then handle all queries from the Commissioner for Information of Public Importance and Personal Data Protection and others on matters arising in relation to the company’s processing of personal data in order to ensure full regulatory compliance. We are delighted that Stankovic and Partners has been selected by leading international business PAR as its trusted representative in Serbia to perform this important role.

The Commissioner, when announcing this important appointment, reiterated its appeal to other foreign companies to designate a representative in the Republic of Serbia in order to fulfill their legal obligations and demonstrate their respect for the privacy of their customers and other stakeholders.

Link in English.

We are delighted to announce that, from 1 January 2023, Stankovic & Partners has promoted a number of talented attorneys, including Sara Pendjer, who becomes Counsel, and Mitar Simonovic, who becomes a Senior Associate. Both Tijana Milisic and Maja Mladenovic are now Associates.

This substantial round of promotions not only recognises the significant contribution that these individuals have made to the team over recent years, but also reflects the firm’s increasing workload of prestigious instructions from our high profile Serbian and international client base.

Making the announcement, founding partner Nenad Stankovic explained: “We would like to congratulate Sara Pendjer, Mitar Simonovic, Tijana Milisic and Maja Mladenovic on their well-deserved promotions, and hope that they will continue to provide the high levels of client service that Stankovic & Partners is known for, as well as further enhancing the range of commercial expertise that we offer. It is extremely important to us to support career development and provide opportunities for talented individuals to shine.”

Sara Pendjer joined Stankovic & Partners soon after its establishment in 2011 and is now one of our star attorneys, managing numerous key dispute resolution and commercial assignments. Career highlights include playing an important role in the restructuring of national power company Elektroprivreda Srbije, as well as in the reorganisation of RTB Bor (copper mine). She is also known for her heavyweight expertise in investor-state arbitrations. Commenting on her promotion to Counsel Sara said: “I am delighted to be recognised in this way and look forward to many more years helping the firm’s clients respond to major challenges and achieve success.”

Senior Associate Mitar Simonovic is also a longstanding attorney at the firm, having been with us since the start of his legal career. His broad experience encompasses dispute resolution, restructuring/insolvency, employment and immigration, […]

We are excited to announce that, from 1 January 2023, Stankovic & Partners has promoted Andjelka Radovanović to partner.

Andjelka joined the firm in 2021 and her stellar work and reputation has now been recognised with this partner promotion. A highly experienced attorney who formerly ran her own practice, Andjelka’s impressive legal career began in 2007. She now leads Stankovic & Partner’s corporate and commercial team, leading on a wide range of domestic and cross-border M&A and other transactional matters, substantial international investments, restructurings and financings, as well as governance and corporate compliance. Another key area of expertise is employment law, where she advises on major redundancy programmes, incentives schemes and many other key issues. Her sector specific experience ranges across everything from banking and finance, the green economy and energy, to pharmaceuticals, technology and real estate.

Andjelka is a longstanding member of the Worldwide Independent Lawyers League (WILL) and EuroJuris International, both high profile networks of experienced senior lawyers across the globe, giving her a wealth of international contacts.

Founding partner Nenad Stankovic commented: “We are delighted to recognise Andjelka with this well-deserved promotion, and value her important contribution to our leading corporate and commercial practice. Her international links also further enhance Stankovic & Partners’ global outlook as evidenced by our membership of a number of prestigious international law firm networks.”

Andjelka Radovanović added: “It is fantastic to be part of a team of very active, enthusiastic people who share the same business-focused approach and high standards of client service that I have always adopted myself. Clients are facing a time of unprecedented challenges and more than ever require advice from firms who can develop creative solutions and understand their commercial drivers.”

The three-year compliance period for legal entities to comply with provisions of the Law on Accounting (“Official Gazette of RS”, No. 73 /2019 and 44/2021 – other laws) (“the Law”), comes to an end.

That means legal entities whose main registered activity is the provision of accounting services (“the Accounting Service Providers”) must register in the Register of Accounting Service Providers (“Register”), and the obligation for all legal entities that engage an entity with bookkeeping and preparation of financial statements, to engage only a registered entity in the aforementioned Register.

From 2023, accounting services will only be provided by legal entities registered in the Register. For registration, one must have a Chambers of Authorized Auditors license, which can be issued to an entity whose main registered activity is the provision of accounting services and whose founder, i.e. the beneficial owner and the management body, has not been convicted of a criminal offense in the sense of the law regulating the liability of legal entities for criminal offenses, that is, if it is a natural person, has not been convicted of criminal offenses prescribed by the Law on Accounting.

In addition to the above, in order to obtain a license, the Accounting Services Provider must have at least one full-time employee with a professional title in the field of accounting or auditing from a professional organization that is a member of the International Federation of Accountants.

The Ministry of Finance has issued several opinions, including the prohibition for a natural person who meets the condition in terms of an acquired professional title in the field of accounting or auditing to be listed in the Register in two places at the same time, i.e. within the data on the sole proprietor and legal entity, that it is not […]

The future of Mineral Resources in Serbia?

Partner Nenad Stankovic was Guest Speaker on two panels at the International Conference on Mineral Resources in Serbia that just took place on 9-10^th October 2022. Organised by the Tsomokos Group for many years, this event was attended by most major stakeholders and is the key event on the sector in the country.

At a time when the industry faces many challenges, the event was an excellent forum at which main players and industry experts met to discuss future plans.

Nenad was a speaker and chair on the panel entitled Challenges mining is facing in Serbia and how to overcome them, and on the second day he contributed on issues relating to financial global mining financial trends. Together with Vera Kojic from the Firm, they also attended other panels on topics such as impact of the current global crisis on mining industry, building of sustainable future of the sector, global mining trends, health and safety in mining, etc.

Recognizing the importance of developing better understanding of the mining industry in general and the importance of environmental protection in particular, Nenad Stankovic and Dusan Simic, Director of Jantar Group were guests in the Morning Program on the NovaS. To view the full piece, follow the link: https://www.youtube.com/watch?v=kLvK3J9f0pw.

Further media coverage was seen in Politika, the leading Serbian daily newspaper, which published a piece about the need for a broad dialogue on mining and geological research, quoting Nenad Stankovic and Dusan Simic. To read more about it, follow the link: https://www.politika.rs/articles/details/524401?fbclid=IwAR1Pw2Pp9cBCZ3k1YVaPGAvUMnJ-qd0QmaG0NUnTv4sxhUyGGmcvQF1xfKo.

In essence, the dialogue continues in this sector of key importance not only for Serbia but for all industry using natural resources.

We are excited to share that IFLR1000 rankings are out and Stankovic&Partners have once again been ranked in the practice areas: Financial and Corporate and Project Development.

We continue to advise our regional and international clients on corporate deals including restructurings and acquisitions in Serbia. We act alongside international law firms to provide local counsel on large multi-jurisdictional transactions such as capital increases and acquisitions.

Our Senior Partner Nenad Stankovic has been rated as Highly regarded in the practice areas of M&A, Project Development, Project Finance and Real Estate acquisitions.

It was great to attend the IBA Law Firm Management Academy at King’s College London this week. A combination of excellent content which I look forward to implementing when I get home and a wonderful network of colleagues sharing their experience. Not to forget Professor Richard Susskind’s lecture on “What is the future of the Lawyers?”, taken from his book the “The future of the Professions”, which was inspiring.

Apatinska Pivara and Trebjesa (members of Molson Coors Group), two of the largest breweries in Serbia and in Montenegro, are partnering up with Diageo Ireland, one of the best known and largest beverage producers in the world. The Competition authorities of Serbia and Montenegro have adopted exemptions of arestrictive agrement to allow for its distribution.

NSTLAW competition team, Associate Mitar Simonovic and Legal Trainee Teodora Markovic, alongside Senior Partner Nenad Stankovic, provided comprehensive legal support for the individual exemption proceedings led before both the Serbian and Montenegrin competition authorities, supporting Apatinska Pivara and Trebjesa grow and widen their portfolio for the enjoyment of all beer lovers in both Serbia and Montenegro.

The firm has been invited to be the exclusive country contributor to the CEE Legal Matters Comparative Legal Guide: White Collar Crime 2022 for Serbia. The White Collar Crime Guild 2022 provides critical information on the legal framework regarding bribery and corruption in the CEE region. It allows for a comparison between jurisdictions as to how bribery is defined, if there is criminal liability for corporate entities, what are the sanctions and limitation periods, whether are there any defenses, and what is the role of anti-corruption compliance. In short an essential guide for corporate in house counsels and alike to ensure they are compliant in multiple jurisdictions.

For more details, please follow the link below:

https://ceelegalmatters.com/white-collar-crime-2022/white-collar-crime-serbia-2022