Two important elements of the European Union’s new digital regulatory package came into force at the end of 2022. The regulation for digital markets (Digital Markets Act) and the regulation for digital services (Digital Services Act) contain numerous new rules for companies operating in the digital space.
Below, we would like to draw the attention of employers to the additional rights of employees regarding termination and modification of employment contracts.
Artificial Intelligence (AI) appears in more and more areas of our daily life. Numerous sites use so called chatbots which –using AI- answer our questions, we can also encounter with „persons” powered by AI „who” try to direct us to the correct administrative pathway using short questions and our answers given to these during a call with a telephone customer service. But what happens if we suffer damages in situations like these due to potential misinformation or incorrect recommendation?
The United States has adopted a Presidential Executive Order implementing the EU-US data protection framework, following a ruling by the Court of Justice of the European Union (CJEU) two years ago that declared the Privacy Shield invalid.
Our firm provided legal advice to our client in connection with the buyout of a chatbot service company during a transaction worth half a billion forints. As a result of the transaction, one of the largest Hungarian venture capital investment funds bought out our client, who had participated as a financial investor until then.
We also successfully represented one of the market-leading insurance brokerage companies in the sector investigation procedure conducted by the MNB as a supervisory body. The investigation focused on the compensation policy and compliance regulations of the insurance broker, as well as the sales process related to unit-link insurances, life insurance policies tied to investment units.
We successfully represented our Hungarian client in the proceedings before the Export Control Department of the Government Office of the Capital City of Budapest, which was aimed at investigating whether the agreement concluded by our Hungarian client with his Russian business partner and the activities carried out during it do not fall under the directly applicable EU Council Regulation 833/2014 containing sanctions against Russia under its scope.
The background to the case is that in 2013, the criminalisation of bad faith contracts was introduced in the Criminal Code, and in the Real Estate Transactions Act, which came into force in May 2014, and thereby the usufruct right registered on agricultural land for the benefit of non-close relatives was retroactively abolished.
Our office has been part of the process during which André Kertész's photo collection of 1,163 pieces became a key element of our Hungarian cultural heritage.
Our office has been part of the process during which André Kertész's photo collection of 1,163 pieces became a key element of our Hungarian cultural heritage.
