German authorities have intensified and accelerated their enforcement activities in 2023, following a slowdown of both investigations and court proceedings during the pandemic.
This had led to a surge of dawn-raids in...more
1/11/2024
/ Anti-Money Laundering ,
Compliance ,
Corporate Crimes ,
Criminal Liability ,
Cross-Border ,
Enforcement Actions ,
EU ,
Germany ,
Investigations ,
Money Laundering ,
Whistleblower Protection Policies ,
Whistleblowers ,
White Collar Crimes
The redress action allows consumer associations to collectively sue companies for performance claims of consumers. The law has entered into force on 13 October 2023....more
The redress action allows consumer associations to collectively sue companies for performance claims of consumers. The law comes into force in October 2023.
What does the redress action mean for the companies that could...more
Consumer associations will be eligible to bring collective claims against companies for various forms of redress.
The introduction of the collective redress action increases the risk that companies will have to expend...more
For many years now, the EU has sought to create a collective redress mechanism across the EU market. Half of the EU member states have little or no such mechanism....more
The much publicised raid of U.S. law firm Jones Day’s Munich office and the seizure of documents relating to VW’s internal investigation by prosecutors in an investigation of Audi AG were legal, according to German courts. A...more
Exactly five years after its landmark decision in 2011, the German Federal Court of Justice (Bundesgerichtshof, BGH) has handed down another important decision in the ongoing swap saga. Banks must normally disclose the...more
Federal Court of Justice (BGH), judgment dated 7 July 2015, file no. VI ZR 372/14:
German clients of foreign banks have increasingly been trying to shift their losses by claiming damages for the banks failing to have a...more
There continues to be an increasing appetite amongst authorities around the world to investigate corporates and banks for a range of criminal offices.
Governments are also introducing new criminal offences aimed at...more
In May 2014, the German Federal Court of Justice (the BGH) held that clauses in consumer loan agreements charging a non-recurring “administrative fee” are invalid (see June 2014 Risk Note)....more