1. Post

   International transfers of personal data: less than two months to replace the old standard contractual clauses – are you ready?

   SCCs are standardised and pre-approved model data protection clauses that can be incorporated into agreements on a voluntary basis to comply with data protection requirements. The new SCCs take into account the Schrems II judgement by the Court of Justice of the European Union issued in the summer of 2020. Transitional period is about to end – now is the time to take action The adoption of the new SCCs on 27 June 2021 launched an 18-month transitional period during which companies using the old SCCs must update their agreements and replace the old SCCs with the new ones. New agreements to transfer data that were concluded after the new SCCs were adopted (i.e. new data transfers) had to be based on the new SCCs since 27 September 2021 already. The deadline for replacing the old SCCs is now less than two months away as the transitional period ends on 27 December 2022. If your organisation has not yet taken action, now is the time. What needs to be done? The EU and the US are currently working on a new framework that will govern the transfer of personal data from the EU to the US. As we discuss in more detail in this blog , the new transfer mechanism is not expected to enter into force before the spring of 2023, and the SCCs adopted by the Commission will remain a key transfer mechanism in transfers of personal data outside the EU/EEA. For the time being this also applies to data transfers to the US.   To learn more about the contents of the new SCCs, read this article .

   Published: 10.11.2022

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   The EU Digital Markets Act aims to improve the internal market and increase competition on digital platforms

   Soon the Commission will have a completely new tool at its disposal when the Digital Markets Act (DMA), one of the centrepieces of the Commission’s data legislation project, enters into force on 1 November. The DMA aims to level the playing field for companies active on digital platforms and facilitate addressing any harmful practices in platform markets. The majority of the DMA’s articles will become applicable from May 2023 onwards. The DMA regulates core platform services and gatekeepers The DMA aims to improve the functioning of the EU’s internal market. In practice, this is striven for by regulating gatekeepers and the core platform services they provide, such as online intermediation services and search engines, online social networking services, video-sharing platform services, interpersonal communication services, operating systems and cloud computing services. For example, Google’s search engine, Apple’s App Store, Microsoft’s operating system and Amazon’s cloud computing platform AWS could be considered core platform services. The Commission designates gatekeepers pursuant to the DMA. By ‘gatekeeper’ the DMA refers to an established provider of platform services that has a significant impact on the internal market and reaches a wide audience. Pursuant to the DMA, gatekeepers include at least those companies that provide core platform services in at least three Member States, have a core platform service with a number of end users exceeding the DMA’s thresholds (more than 45 million monthly active end users established in the Union and more than 10,000 yearly active business users established in the Union in the last three years) and have a turnover or market value exceeding certain thresholds. According to current estimates, fewer than 15 companies meet the gatekeeper criteria. Designated gatekeepers must comply with the obligations laid down in the DMA. For example, gatekeepers may not: In addition, gatekeepers must secure easy subscription to or cancellation of a service, provide business users with information concerning their marketing and advertising results, and ensure that the basic functions of instant messaging services are interoperable. Gatekeepers are also obligated to inform the Commission of any mergers and acquisitions that concern digital services and enable data collection regardless of whether such concentration is notifiable under merger control rules based on revenues of the parties. If a gatekeeper fails to comply with its obligations under the DMA, the Commission may impose on the gatekeeper fines of up to 10% of its total worldwide turnover in the preceding financial year. In the event of repeated infringements, the Commission may impose fines of up to 20% of the gatekeeper’s turnover. A level playing field in digital markets The DMA may have a significant impact on Finnish companies. It is evident that the majority of companies are not subject to obligations under the DMA but rather they hold rights clarified by the new Act. With the DMA, the Commission aims to not only increase competition between platforms (that have to compete for business users) but also provide SMEs with better mechanisms to develop their operations and business environments, for example when it comes to switching providers or combining services. Furthermore, the DMA clarifies the rights of business users when using platforms provided by gatekeepers. It is likely that the DMA will have the biggest impact on data sharing. The underlying objective is the ability to regulate situations in which a gatekeeper holds a dual role, offering on its platform the same products as its business users. In such a situation the gatekeeper has the opportunity to receive more data on consumer behaviour, terms of sale and other information than the other merchants. A similar situation was in the spotlight when the Commission addressed the practices of Amazon’s marketplace. Going forward, in addition to clients’ sales data, gatekeepers are obligated to disclose data on product success to their clients in a more transparent manner under the DMA. The DMA will also restrict how gatekeepers can favour their own products and services in their platforms’ search rankings and ratings. Continued regulation of the digital markets As described above, the DMA aims to level the playing field between large platform service providers and their users and, subsequently, increase competition and innovation in the EU. The DMA is a part of the European strategy for data that aims at strengthening the EU’s competitiveness by creating a single European market for data where data can be widely utilised under common standards and rules. In addition to the DMA and other previously issued regulations, for example, the Data Act is being prepared in the EU institutions and the Digital Services Act was published only last week. These regulations will have a significant impact on the business opportunities of companies as well. However, as is the case with the DMA, legislators, authorities and companies will have to harmonise all regulations related to the strategy for data with previous binding legislation, such as competition legislation.

   Published: 1.11.2022

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   W&I insurance supports the risk management of real estate transactions

   W&I insurance is a tool for both the seller and the buyer to manage the risks related to the transaction, and in recent years the use of the insurance in real estate transactions has increased clearly. However, W&I insurance still raises a lot of questions. The main ones are what the insurance is, which benefits it offers and which practical measures the policyholder needs to take if they want to insure a transaction. W&I insurance in a nutshell W&I insurance means warranties and indemnities insurance. At times the insurance is also called transaction insurance. As the name indicates, W&I insurance insures the seller’s liability for the warranties the seller has given in the sale and purchase agreement in relation to the object of sale.  On one hand, the purpose of W&I insurance is that if the buyer notices that a seller’s warranty under the sale and purchase agreement has been breached, the buyer can make the claim for damages due to the breach of the warranty directly to the insurance company. On the other hand, the seller avoids discussing the breach of the warranty with the buyer and the costs arising from the possible liability for damages due to the breach. In its basic form, W&I insurance covers all of the seller’s warranties under the sale and purchase agreement. The seller may only end up being liable for damages instead of the insurance company (or having to compensate the insurance company) in situations where the breach of a warranty results from the seller’s wilful misconduct or gross negligence. W&I insurance is usually taken out by the buyer, and it is usually bought through an insurance broker. Brokers collect basic information about the object of sale and purchase, its value and the structure of the transaction and request to see the draft of the sale and purchase agreement. Based on this information, brokers request offers of insurance terms and of the price for the transaction on behalf of the buyer from insurers that distribute transaction insurance policies. Brokers are also a valuable help in evaluating the offers since they have more experience and thus a more in-depth view on which insurers and insurance policies could be suitable for the transaction in question. Does your transaction need W&I insurance? W&I insurance is suitable for transactions of different types and sizes so when considering an insurance policy, the value of the transaction in euros or the type of the object of sale and purchase alone do not indicate whether the transaction is suitable to be insured or not. W&I insurance is flexible and can even be applied to more challenging situations in the transaction structure. For example, even if there is a long period of time between the signing and the completion, insurance brokers may still find suitable solutions. In addition, the price of the insurance policy is tied to the sum insured, which means that transactions with smaller value are also worth insuring. The biggest challenge for the insurability of a transaction is usually that the buyer does not want to conduct an extensive due diligence review of the object of sale– the insurers’ key requirement when assessing insurability is expressly an extensive and thorough due diligence review. It is in the best interests of the buyer to take out an insurance policy particularly in situations where the fund or other entity acting as the seller will be dissolved after the transaction, which means that after the completion of the transaction there will no longer be a seller party to which the buyer can make claims about breaches of the seller’s warranties. Taking out W&I insurance is generally in the best interests of the seller in all situations and particularly when the buyer pays the costs of the insurance policy and when taking into account that the seller’s warranties may be more extensive in insured than in uninsured transactions. Insuring a transaction can in turn help the seller to get a better price for the object of sale and purchase.  Practical tips for taking out W&I insurance If you are insuring a transaction for the first time, here is a list of measures that in our experience are the most important steps:

   Published: 24.10.2022

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   EU–U.S. Data Transfers – what we know now

   From Executive Order to a new Privacy Shield? The EU’s General Data Protection Regulation requires that all transfers of personal data outside the EU have a legal basis, i.e., a transfer mechanism. Such transfer mechanisms include, inter alia, the Standard Contractual Clauses approved by the European Commission and adequacy decisions in which the level of data protection of a specific country is deemed adequate from the EU’s perspective. Concerning the USA, an adequacy decision had earlier been made based on the Privacy Shield framework, but the CJEU overturned the decision in its Schrems II judgement. In the Schrems II judgement, the CJEU deemed, among other things, that the rights of the authorities to view and use personal data under U.S. legislation do not meet the requirements of the EU’s data protection legislation and that the EU citizens’ remedies to address the processing of their personal data in the USA are insufficient. That is why the previous Privacy Shield framework was overturned. It is important to note that, in addition to actual transfers, situations where personal data can be accessed from the USA, for example as part of a cloud-based service provided by a company located in the USA, are also considered personal data transfers. This means that the regulation on data transfers is a topical issue for the majority of Finnish companies. President Biden’s new Executive Order includes several sections that are meant to bolster the safeguards for data protection in the signals intelligence activities of the USA and thus address the concerns brought up by the CJEU. The Executive Order creates, among other things, a multi-layer mechanism for private individuals from countries that meet the requirements to obtain legally binding re-examination and remedy if they believe that the USA has collected or processed their personal data through signals intelligence in violation of applicable legislation. The first instance of the appeal system is the Civil Liberties Protection Officer in the Office of the Director of National Intelligence of the United States. According to the Executive Order, the second instance is an independent and impartial court, the Data Protection Review Court. Its decisions will be binding on the U.S. intelligence community. Inspired by the Schrems II judgement, the Executive Order also specifies the restrictions and safeguards that are to ensure the protection of basic rights of the EU citizens in each stage of the oversight activities, from the collection of data to further processing and storage. It seems that the purpose of the safeguards is to meet the CJEU’s requirements to only collect data necessary to advance a specific intelligence priority and only to the extent and in a manner proportionate to that priority. Next steps The European Commission will review the text and prepare a draft adequacy decision on the data protection of the USA. Once the draft decision has been issued, the Commission must hear the Data Protection Board and the Member States, although their views will not be binding. The process will take months, and a final adequacy decision is not expected before the spring of 2023. The adequacy decision based on the EU–U.S. Data Privacy Framework can be used as a legal basis under the General Data Protection Regulation for transfers of personal data to the USA starting from the time the decision is published in the Official Journal of the European Union. It should also be noted that the Executive Order strengthens the level of data protection in the USA even before the publication of the adequacy decision as the provisions included therein obligate the intelligence authorities to take action to implement the safeguards included in the Executive Order right away. The data protection safeguards included in the Executive Order can be taken into account, for example, in the assessment of the level of data protection in the USA and the related supplementary measures when using the Standard Contractual Clauses approved by the Commission as a transfer mechanism.The Standard Contractual Clauses remain an essential transfer mechanism for transferring personal data outside the European Union. A permanent solution or a temporary one? The EU and the USA have been working on the new framework for a long time, but it is still very likely that the Commission’s expected adequacy decision will be disputed in the CJEU a third time. The privacy activists behind the overturning of the two previous frameworks (Privacy Shield and its predecessor Safe Harbor) have presented that the contemplated new safeguards of the framework do not meet the requirements of the CJEU. The activists have stated, for example, that the USA’s interpretation of the concepts of proportionality and necessity of collecting data differs from what these concepts mean in the EU law and the case law of the CJEU. The activists have also challenged the efficiency of the safeguards laid down in the Executive Order: it has been proposed that the Data Protection Review Court of the second instance of the appeal system is in fact not the independent and impartial court that the CJEU required in its decision. The Executive Order also does not prohibit bulk collection of signals intelligence, which the CJEU has criticised, although the Order does set more detailed requirements for bulk collection. Thus, it is unclear whether the third attempt to agree on a framework for data transfers between the EU and the USA will be successful or whether it will ultimately be overturned by the CJEU. Considering the great significance of the legal certainty concerning data transfers to companies operating in the EU and the USA, one can only hope that the solution will stand the test of time.

   Published: 18.10.2022

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   It is advisable to start preparing a whistleblowing channel now

   As a general rule, the whistleblowing channel must be established in companies that employ at least 50 people The new whistleblower legislation that is being drafted mainly obligates companies or public sector actors that employ at least 50 people to establish an internal reporting channel. Through the channel, the company’s employees, for example, can report suspected misconduct that concerns the violation of certain legislation, such as consumer protection, environmental protection, data protection or public procurement. When submitting a report, the whistleblower is protected in the manner required by the Act. The Act also provides a period during which the company can exclusively examine the reports. At the moment, the Act is being discussed by Parliament, and it is to enter into force within three months from its approval. By then, companies that employ at least 250 people will have to adopt an internal whistleblowing channel. The government bill, however, includes a transitional period under which private sector organisations that regularly employ 50–249 people must adopt a whistleblowing channel by 17 December 2023 at the latest. The whistleblower legislation is based on the EU Whistleblowing Directive, which must be implemented into national legislation by the EU Member States. In Finland, the drafting of the whistleblower legislation has been delayed from the original timetable. In some EU Member States, the Directive has already been implemented into national legislation. Establishing an internal whistleblowing channel The main purpose of the new regulation is to protect the whistleblower from retaliation and to provide the organization receiving the report an opportunity to appropriately investigate the suspected misconduct internally. Furthermore, the new legislation will set minimum requirements for the establishment of the whistleblowing channel and for the procedures for processing notifications, such as the processing times and confidentiality. The organisation can largely decide the technical implementation itself, and under certain boundary conditions, it is also possible to outsource the maintenance of the channel to a service provider. According to the proposal, companies that belong to the same group can under certain conditions establish a common reporting channel. The regulation also creates new obligations to inform for the organisations. Stakeholders that are entitled to report suspected misconduct must, among other things, be informed of the internal whistleblowing channel, the possibility to report through an external reporting channel maintained by the authorities and of the requirements for protecting the whistleblower. In addition, the persons responsible for processing the reports must be appointed and trained in the processing. Data protection obligations must be taken into account Requirements based on data protection legislation and, with respect to the personnel, also on the Co-operation Act, must be taken into account so that the reports submitted through the reporting channel and personal data included in them can legally be processed. A whistleblowing channel that meets data protection obligations along with proper data protection documentation are key tools for an organisation to demonstrate that they are in compliance with legislation.  The processing of personal data collected through the whistleblowing channel is subject to the same privacy obligations as the processing of other personal data. For example, the legal basis and purposes for processing personal data as well as how long the data is stored must be defined in accordance with statutory requirements and any unnecessary personal data must be deleted. The individuals whose data is processed must also be informed of the processing, and the organisation must make sure that the statutory data subjects’ rights are respected. It is important to keep in mind that the new legislation sets certain exceptional limits to the rights of the data subjects. In addition, the Finnish data protection authority: Data Protection Ombudsman has ruled that controllers must conduct a data protection impact assessment on data processing relating to whistleblowing channels. How to prepare for the new obligations? A whistleblowing channel that meets the requirements of the new legislation protects the company as well as the whistleblower, because a whistleblowing channel makes it possible for the company to uncover misconduct and provides a period during which the company can exclusively process reports. Though the legislation is still being drafted, it is advisable to prepare for the adoption of a channel now. First, it is advisable to make an assessment of the necessary measures.

   Published: 11.10.2022

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   The energy system of the future must be low-carbon and self-sufficient – legislators are interested in new nuclear energy technology

   Nuclear energy as a low-carbon energy form arouses debate For historical reasons, nuclear energy and its role in the future energy system have aroused active political debate. The leading EU countries, Germany and France, have been on opposite sides in the debate. In conjunction with the Taxonomy Regulation in 2022, the European Parliament voted in favour of deeming nuclear energy as sustainable activity in accordance with the Regulation. In Finland, it has been recognised that nuclear energy plays a significant role because it is considered a carbon-neutral way to produce energy and because it increases the security of electricity supply. At the end of June, the Government submitted a report on the new climate and energy strategy ( selonteossa uudeksi ilmasto- ja energiastrategiaksi ), which states that nuclear energy will play a key role in the Finnish energy system in the future as well. Regulation on nuclear energy is not up to date In addition to the development of technology, energy self-sufficiency also requires that the legislators adopt an active and forward-looking approach. The current Nuclear Energy Act is based on legislation proposed in 1987, and it does not correspond to the current legislative methods and needs. In 2019, the Ministry of Economic Affairs and Employment started a project to completely reform the Nuclear Energy Act, which has been prepared during this Government’s term in office. However, the aforementioned report states that the overall reform will only be completed during the next Government’s term in office. If the aim is that the new regulation will stand the test of time, it should account for the possibilities offered by the future nuclear energy technology, such as small modular reactors (SMR). SMRs are nuclear reactors that produce a maximum of 300 megawatts of energy, i.e. approximately one fifth of the quantity of energy produced by the current large nuclear power plants. Small modular reactors as part of the future energy system The most important advantage of the SMRs is that they can be produced in series and located in more versatile environments than traditional nuclear power plants. Series production is possible and effective only if the design relating to it has been approved in advance and the production does not have to be re-designed in the middle of the project. However, the current legislation does not include the possibility to receive a binding approval from the Radiation and Nuclear Safety Authority for the technical solutions or the location of a plant being planned. The permit process in accordance with the Nuclear Energy Act should be significantly reformed in this respect if the aim is to use the technology in the future. In the spring of 2022, the Government assessed the Nuclear Energy legislation and its need for reform also from the perspective of SMRs. Based on the assessment, it can be expected that the overall reform will also account for the commissioning of future nuclear energy technology. Energy self-sufficiency requires bold solutions SMR technology would make it possible to strengthen Finland’s energy self-sufficiency and support the transition towards carbon neutrality. The commissioning of new nuclear energy technologies is however not possible just by reforming national legislation, but the actions and policies of the International Atomic Energy Agency IAEA, Euratom and the EU also play a key role. Achieving energy self-sufficiency will require the legislators and EU politicians to make bold decisions with respect to the entire energy sector, and the authorities have already set an example by investing resources in hydrogen economy and offshore wind power . To achieve the goal of being carbon-neutral by 2035, Finland must reform its regulation concerning the energy sector with determination but taking into account the national characteristics. We at Castrén & Snellman actively follow the development of the regulation concerning the green transition and assist our clients extensively in various energy technology projects, also with respect to nuclear energy.

   Published: 4.10.2022

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   The time for the green transition is now

   For a long time now, the green transition and emissions reduction have been on the agenda of the European Union, but there have been no tangible solutions. Russia’s war of aggression in Ukraine pushed the EU to find quick and large-scale solutions for withdrawing from Russian fossil energy. In the spring, the EU adopted several new regulations as part of the RePower EU plan, and the work is still ongoing. The great challenge is to find a model that will work for all parties in the value chain, which requires an in-depth understanding of the industry. The green transition is also supported in Finland: earlier this month, the government made a decision to support investments that increase our self-sufficiency and reduce our dependency on fossil energy. The energy market has changed permanently, and there is no going back. This is an ideal time for new investments as the demand for innovations and solutions supporting the green transition has never been higher. Anything that promotes zero-emission and supports energy self-sufficiency is now desirable and valuable. The energy crisis has taught us two things: we cannot afford to postpone the green transition any further and the transition must be made by promoting self-sufficiency. We now expect the decision makers to have the courage to make major decisions and the determination to reform the regulation on the energy sector. At the same time, we also expect them to account for our particular national characteristics and the entire value chain and understand how their decisions impact on all of us.

   Published: 28.9.2022

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   Merely fulfilling the minimum requirements is not enough in sustainable construction

   New regulation to set requirements for sustainable construction The reformation of the Land Use and Building Act planned earlier received a lot of feedback when it was circulated for comments.  According to the release by the Ministry of the Environment, “ the comments were mostly positive about the proposals for promoting low-carbon construction, circular economy and digitalisation ”, and these proposals are still included in the reform. However, for example the mandatory liability periods which we criticised earlier in our blog have been removed.  Regulation on the EU-level will also be reformed due to the Fit for 55 legislative package and the REPowerEU plan, among other things. Amendments are planned to the Energy Performance of Buildings Directive and the Renewable Energy Directive (RED II), for example. These amendments would result in changes to the requirements for the heating and cooling of buildings and the share of renewable energy used in buildings. Clearly, the new regulation is meant to promote sustainable construction. However, from the perspective of 2024, the regulation may not present a particularly ambitious level of sustainable construction.  In this respect, it will be hopelessly lagging, even though it aims to promote important sustainability goals. The interesting question is how sustainable construction should be approached in the different stages and roles of a construction project now and in the future.    Is it enough to fulfil the requirements of the current or the new regulation? Various environmental categories and calculations are a basic requirement in construction and its financing. Construction that is currently underway or beginning does not need to fulfil the requirements of the new regulation, since the regulation will only enter into force in 2024 as things currently stand. However, a responsible actor takes the requirements into account in the present day. Projects with ambitious requirements will stand out favourably in the construction industry. In sustainable projects, there is a will to pay more than the minimum in order to reach new goals that are more stringent than before. If sufficiently high goals are not set for a construction project, there will be no new development in sustainable construction. Fulfilling the minimum requirements is not enough in legal advice either Merely fulfilling the minimum requirements of legislation is not sufficient in the future with respect to the green transition and circular economy and thus to sustainability, even though legislation is furthering matters along the right lines. In the future, construction must be able to implement new solutions that are more sustainable and more effective in combating climate change. The same applies to lawyers along with other advisors – we must increase our technical understanding of the construction projects that are the objects of agreements and be able to offer contractual provisions that take environmental and sustainability perspectives into account. Responsible and sustainable development should be promoted in all areas from advice to implementation and operation while not forgetting to account for the reuse of construction products.

   Published: 22.9.2022

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   The Limited Liability Companies Act reform means that general meeting practices remain flexible

   In the future, hybrid meetings will be possible for all limited liability companies Organising hybrid meetings, i.e. enabling real-time remote participation in full in a traditional meeting, will be possible for all limited liability companies based on a decision by the board of directors. This does not require amendments to the articles of association. Full participation in a general meeting means that a shareholder can exercise their power of decision freely. In practice, this means that a shareholder participating remotely is able to exercise their right to attend, to speak and to vote largely in the same manner as any shareholder participating at the meeting venue. In hybrid meetings, the meeting place is the company’s domicile, as customary, or another meeting place set forth in the articles of association. The board of directors can decide that in addition to participation at the meeting venue and real-time remote participation, supplementary ways of remote participation will be offered in a hybrid meeting before the start of the meeting or during the meeting, unless the articles of association prohibit or limit offering such ways of participation. This can mean, for example, advance participation by mail or data link largely in the same manner as in meetings of listed companies under the temporary legislation. Supplementary ways can be used to increase shareholders’ opportunities to participate, but they will not fully replace actual participation in meetings as the board of directors may decide to impose limitations on the supplementary ways of remote participation, unless otherwise set forth in the articles of association. We believe that for example offering opportunities such as advance voting will be popular in the future, particularly now as shareholders have become accustomed to it during the temporary legislation. If the company’s shareholders wish that there will be no possibility to organise hybrid meetings, a specific provision must be included in the articles of association to prohibit remote participation or to limit it to some extent. This shows that in the reformed Act, the flexibility of meeting practices is considered as the default that can be deviated from only by way of specific provisions in the articles of association. The practicalities of organising meetings are made easier by the fact that in the notice convening the general meeting, shareholders can be required to make a binding commitment to whether they will participate in the meeting remotely. On the day of the meeting, shareholders cannot change their mind and participate in the meeting at the meeting venue. Organising remote meetings requires amending the articles of association Unlike a hybrid meeting, organising a general meeting entirely remotely, i.e. with no meeting venue and in such a way that the shareholders can fully exercise their rights in real-time by way of a data link, requires a specific provision to be added in the articles of association. It can be set forth in the articles of association that the general meeting shall be or can be organised in this manner. It is recommended that the provision in the articles of association enabling remote meetings is drafted so that it will enable the various meeting procedures to be as flexible as possible in the future. In a remote meeting organised without a meeting venue, the board of directors may also decide to offer means of remote participation to supplement full participation (such as the opportunity to vote in advance) before the meeting or during the meeting, unless prohibited or limited in the articles of association. Organising the opportunity to vote in advance may be recommended in these cases as well, so that the shareholders can choose their manner of participation as freely as possible. Until the end of 2022, amending the articles of association to make organising hybrid meetings obligatory may in listed companies be decided by advance voting in meetings under the temporary legislation. After the transitional period the issue will be decided in the same manner as any other amendment to the articles of association. However, the exception is that the decision to amend the articles of association so that organising hybrid meetings becomes obligatory can be reached by a simple majority instead of a two-thirds majority. We estimate that the transition to remote meetings will be quite long and daunting for many listed companies. Next spring will likely prove to be a testing period for hybrid meetings. In contrast, non-listed companies will in many cases find transitioning to remote meeting easier after the coronavirus pandemic. Based on our information, there have already been some amendments to companies’ articles of association to enable remote meetings. Technical solutions for organising remote meetings are being developed in several quarters and the range of available services will likely increase during the next general meeting season.

   Published: 22.9.2022

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    Our people are our most important asset – support in different stages in life from the Benefit Bucket

    Flexible practices to support expert work and wellbeing With the people at C&S ranging from students to those with extensive careers, the personal circumstances of our employees are as numerous as the employees themselves. Besides work, some take care of small children or elderly family members, while others dedicate their time to a wide range of activities and responsibilities. We all have different roles and ways of working as well. Sometimes we prefer working remotely in the peace and quiet of our own homes, while at other times we long for the hustle and bustle and the chance encounters of the office. No matter the personal circumstances and ways of working, we aim to support everyone’s work and wellbeing in the best possible ways. At Castrén & Snellman, the work adjusts to the employees. Each team agrees on their own remote working policy, providing flexibility to everyday life and enabling working in different stages in life. Early risers have the option to start before 8, and parents don’t have to rush to take their children to day care before starting their work day. Work can be done at the office, at home, on a train or even by the lake, sitting on the sauna porch on a summer day. Customised benefits from the Bucket We want to support the wellbeing of our employees beyond just offering flexible work arrangements and a pleasant office. That is why last year Castrén & Snellman developed and implemented the Benefit Bucket. This wide selection of benefits can support wellbeing at work and a good work-life balance in every stage in life. The Benefit Bucket was born out of a desire to create something brand new – a benefits package in which our experts can influence the benefits they choose. New benefits are constantly entering the market, and what works for some might not work for others. We wanted to create a package of benefits where everyone can choose the benefits best suited to their circumstances and preferences. In the new Benefit Bucket model, our permanent employees get to choose the benefits they want to enjoy the coming year annually. There are over ten benefits to choose from, from the traditional lunch, sports and culture, and phone benefits to the newer and perhaps more uncommon benefits, such as the Seurana service that provides companions for elderly relatives as well as Tutorhouse’s tutoring services for secondary school and high school students. To support commuting, the Bucket includes benefit bikes as well as a commuting benefit to be used on public transport. Those looking to invest in their physical health and wellbeing can choose the massage benefit or a dental care package. The best part is that it is easy to add new benefits to the Benefit Bucket later on. The Bucket also adapts to changes in the employees’ life. For example, it was easy for our experts to swap the lunch benefit to another one when they switched to remote working during the COVID-19 pandemic. Flexible work life supporting a diverse community Our employees and their wellbeing are our firm’s most important assets. We want to accommodate different and diverse experts no matter their background or personal circumstances. The Benefit Bucket is a part of this: not only does it offer a wide selection of benefits, but it is also possible to change the personal selections each year. If there are major changes in any part of someone’s life, the benefits can be customised accordingly. However, this is just the beginning. We will keep developing the Benefit Bucket, the benefits we offer and our ways of working in close cooperation with our personnel so that we can carry on building sustainable success stories.

    Published: 21.9.2022