changes in law - legal aspects of new technologies

The new recommendation on processing of da­ta for purposes of employment is designed to meet challenges posed by greater digitisation.

On 1 April 2015 the Council of Europe adopted Rec­ommendation CM/Rec(20l5)5 of the Committee of Ministers to member States on the processing of personal data in the context of employment. The previous recommendation was issued before the growth of the internet and new technologies, and did not reflect contemporary realities. Aware of the increased use of new technologies and electronic communications in dealings between employers and employees, the Council of Europe decided to modify the recom­mendation to ensure adequate protection of personal data in employment.

New regulations and interpretations will soon have an impact on equity- and debt-based crowdfunding business models.

Investment crowdfunding (understood to mean equity-based and debt-based crowdfunding) currently enjoys great regulatory leeway due to the lack of regulations specifically addressed to the crowdfunding market. But some current and planned regulations may impede its growth. Recent regulatory proposals as well as inter­pretations could significantly change the current shape of the market, creating both incentives and barriers for participants.

The Act of 29 August 2014 Amending the Corporate Income Tax Act, the Personal Income Tax Act and Certain Other Acts went into force on 1 January 2015.