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 […]
Financial regulatory news updates: November 2018
The Financial Regulatory News Updates: an overview in which our Banking and Finance Practice Group highlights recent legislative developments and publications of supervisory authorities in the financial markets.
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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Dechert hires third Sidley Austin partner in a fortnight
Sidley Austin has lost its third partner in the City to US rival Dechert, following on from the exits of John McGrath and Simon Fawell earlier this month. The Lawyer revealed that McGrath and Fawell were to make the move, having worked together at Sidley on structured finance matters. McGrath focuses on corporate deals, while Fawell […]
A&O throws down the gauntlet to Linklaters with NQ pay rise
Allen & Overy has succumbed to the NQ pay race, becoming the latest magic circle firm to bump up its remuneration for newly-qualified solicitors to £100,000. The change means NQs will receive a minimum of £100,000, including bonus, which is a 20 per cent increase on the £83,000 that A&O previously set at the end […]
HSF and Linklaters suffer blow in Estonia arbitration claim
Linklaters and Herbert Smith Freehills have failed to defeat the Republic of Estonia in an arbitration case heard in the International Centre for Settlement of Investment Disputes (ICSID). The two firms were acting for utility provider AS Tallinna Vesi and its Dutch shareholder United Utilities, whose claim dates back to 2014. They commenced proceedings against […]
The Lawyer Awards 2019: the sets vying to win Chambers of the Year
London is rich in talent at the bar, and the sets shortlisted for this year’s Chambers of the Year category have shown considerable acumen in growing their businesses. Commercial and employment set 11KBW has seen significant financial growth over the past five years, with a particularly strong performance in 2018 when it predicted an increase […]
The Lawyer Awards 2019: Milbank, Quinn and Dentons among those competing for City firm of the year
Tonight, in-house teams, City firms and regional practices will battle it out at The Lawyer Awards 2019. There’s a new category – City firm of the year – in which the London offices of eight firms will compete to win the prize. Here’s a rundown of why they’re shortlisted. Dentons is the world’s largest law […]
Trowers appoints 12 in real estate-heavy promotions round
Trowers & Hamlins has appointed 12 new partners across its London, Birmingham, Manchester, Exeter, Bahrain and Abu Dhabi offices. Half of the promotions are London-based, with three in Exeter and one in Manchester. Outside of the UK, Trowers’ Bahrain and Abu Dhabi offices have each received one new partner. Over the last two years, Trowers […]