Directive on cross-border mergers in banking, insurance and securities adopted in first reading
The text adopted includes the following provisions, among others:
- where the European Commission (“Commission”) proposed that supervisory authorities decide within 30 working days of being notified of a proposed acquisition, the new text sets the limit at 60 working days;
- the relevant supervisory authority may interrupt this period to ask for necessary additional information from the proposed acquirer, as long as it does so no more than 50 days into the period; the interruption can be for up to 20 working days (or 30 in the case of non-EU acquirers or those not already subject to financial supervision under EU directives);
- it is made clear that Member States may not impose more stringent requirements than those set out in the directives as amended.
Other articles
Active counter-drone measures need a broader legal basis
A highly noteworthy legislative proposal was added to the VeKLEP interministerial consultation database on 21 July 2026, namely a government bill amending several laws with the aim of strengthening the resilience of critical infrastructure entities against unmanned aircraft systems. Drafted by the Ministry of the Interior, the bill includes proposed amendments to the Civil Aviation Act and the Act on the Czech Police.
Tomáš Sequens and Dana Jacková Discuss the Risks of the Proposed Amendment to the Building Act
KŠB partner Tomáš Sequens and counsel Dana Jacková recently spoke to specialist news platforms Česká justice and Ekonomický deník about the proposed amendment to the Building Act, which aims to accelerate and simplify the construction permitting process.
KŠB Supports Smetana Litomyšl’s Charitable Grand Finale
The 68th annual Smetana Litomyšl Festival closed this year with the Grand Finale – Italian Film Night, which took place under the patronage of our law firm. The Czech Radio Symphony Orchestra, conducted by Tomáš Brauner, performed celebrated film music by Nino Rota, Luis Enrique Bacalov and Ennio Morricone in the second courtyard of Litomyšl Castle, which was also broadcast live on ČT Art and Czech Radio Vltava.
