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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Finance lawyers dominate in FTSE350 in-house teams
Almost half of all the lawyers at the companies in the current FTSE350 that have a UK-based in-house legal team work in the banking and finance sector, The Lawyer can reveal. According to data compiled for the new FTSE350 report, 40 per cent of the lawyers tracked at in-house teams in the UK work for […]
The speed read: Clifford Chance’s canny graduate strategy; bye-bye Ballheimer; and 2020 predictions
Firms serious about bagging the best graduate talent should take a look at Clifford Chance A few years back, a bunch of firms set up events for first-year law undergraduates – a group long ignored on the milkround in favour of second and third-years. We predicted what seemed like the obvious conclusion: the war for […]
Shearman and King & Spalding lead on takeover of Eddie Stobart
A pair of US firms have advised on the takeover bid of haulage company Eddie Stobart as its shareholders have approved its rescue by asset manager DBAY Advisors. King & Spalding’s London corporate partners William Charnley and Marcus Young advised Eddie Stobart, which had to secure £55m bailout funding from Douglas Bay Advisors, on the […]
A&O and ENSafrica lead on South African Airways rescue
South African firm ENSafrica and Allen & Overy are leading on the business recovery of one of Africa’s largest airlines, South African Airways, saving it from collapse. ENSafrica’s chairman Michael Katz is leading for the airline on behalf of the National Treasury of South Africa, which manages its national economic policy. South African Airways is […]
Jones Day set to bid farewell to Russia with office closure
Jones Day is to shut its doors in Moscow, The Lawyer understands, after setting up in Russia 16 years ago. The decision means the US firm will no longer have a fixed presence in the country, with the closure expected later this year. Jones Day initially entered the Russian legal market back in 2003, with a total […]
Mayer Brown jumps on innovation bandwagon with new ’embrio’ programme
Mayer Brown’s managing partner Jeremy Clay is backing a new global innovation plan to trial new technologies.