Financial regulatory news updates: November 2018

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Dutch Data Protection Authority imposes processing ban on tax authorities

By Anke Holtland, Jacobine van Beijeren The Dutch Data Protection Authority published its decision last week to impose a processing ban on the Minister of Finance for the processing of Citizen Service Numbers ( BSNs ) in VAT identification numbers by the Tax Authorities. Background of the use of BSNs The Tax and Customs Administration is charged with providing VAT […]

European Commission fines Guess in its ongoing crusade against geoblocking agreements

By Marc Wiggers, Thomas Verstraeten On 17 December 2018, the European Commission (‘Commission’) announced that it had imposed an antitrust fine of EUR 40 million on clothing company Guess for illegally restricting its resellers from using the Guess brand names and trademarks for the purposes of online search advertising and making cross-border sales of Guess […]

Are you compliant with the new EU Geo-blocking Regulation?

By Stéphanie De Smedt, Alice Boulvain. Aleksandra Sanak The EU Geo-blocking Regulation applies since 3 December 2018. It impacts many businesses that sell their goods and services online or offline across the EU, including companies offering food supplements or (over-the-counter) medicines, who now need to make sure they comply with these new rules.

Is your pension fund ready for IORP II?

By Bas Dieleman, Robin van der Ham, Laurie Kuijpers The Senate adopted the bill for the implementation of Directive 2016/2341 / EU (“IORP II”) yesterday, on 18 December 2018. The intended date for the entry into force of IORP II is 1 January 2019. The implementation of IORP II leads to various changes to the […]

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