Banking & Finance

28 Jun 2021

The end of LIBOR

This year will bring big changes, at least when it comes to financial markets.  Namely, 2021 is when the long-awaited abolition of LIBOR will take place.  Although there was a lot of talk about technical obstacles that need to be overcome, change was seemingly inevitable. LIBOR (London Interbank Offered Rate) is the daily reference interest rate at which banks lend to each other on the interbank market.  It gained in importance in the 1990s, when the British Banking Association (“BBA”) settled relevant standards of regulation, the collection and analysis of data obtained, which will serve as a basis for calculating […]

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19 Apr 2019

Gecić Law Continues Its Bullish Run in the Legal 500 Rankings

Gecić Law is delighted to announce yet another commendation by The Legal 500 EMEA, one of the most eminent and prestigious directories of the legal world.     Our Banking & Finance practice continues its bullish run to the national top.   Its head Nikola Aksić was named to the guide’s  “Leading Individuals” elite list of outstanding lawyers in the country, only one year after being recommended by the guide.   The practice has also went up in the overall rankings, securing a Tier 2 recognition. And we haven’t stopped there.  Our Corporate/M&A practice is not lagging behind.  The practice head Ognjen […]

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11 Dec 2015

Serbia: Amendments to the Financial Restructuring Act

In line with the action plan included in the non-performing loan resolution strategy (“NPL Strategy”), the Serbian Parliament passed amendments to the Voluntary Financial Restructuring Act (“the Act”) on 23 October 2015. The law entered into force on 4 November 2015 and will be enforced as of 2 February 2016. Pending financial restructurings will continue in line with the provisions of the Act. The changes the Act introduces may not be monumental, but legislators expect they will contribute to developing a more favorable economic environment in the country. It remains to be seen how the Act is going to be […]

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05 Oct 2015

NBS Adopts Changes to the Single Register of Accounts

On October 1, 2015, the new Payment Services Act came into force.  This new piece of legislation introduced numerous and rather important changes to the Serbian payment operations system.  These changes are also a part of Serbia’s harmonization with European Union laws and business practices, which presumes liberalization of payment services provision and widening of authorized service providers in this field, other than the National Bank of Serbia (NBS) and licensed banks, will have a significant positive impact on the market efficiency. One of the most significant changes in this sense introduced in the Payment Services Act relates to the formation of a […]

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