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New EU Sanctions Target Russian Oil Sector, State-Owned Banks and Military Exports

The European Union (EU) enacted Council Regulation (EU) No 833/2014 (the Regulation), which contains ‘Stage 3’ sanctions against Russia. These sanctions resemble – but in other ways are different – from the latest US...more

India Enters "Pay-for-Delay" Fray: CCI Investigating Pharmaceutical Patent Settlements

India's competition authority, the Competition Commission of India (CCI), has begun scrutinizing and investigating pharmaceutical patent settlement agreements between brand and generic firms for potential anticompetitive...more

The EU Article 29 Working Party's Guidance on the "Legitimate Interest" Ground for Processing Personal Data

When precisely is a data controller lawfully permitted to process personal data? If a data controller does not have the consent of a data subject to process his or her data, when does the “legitimate interest”...more

Where to Now St. Peter? – Due Diligence Going Forward in China

Whatever you might think of where his career went, Elton John had some great early stuff. I still rank Tumbleweed Connection right up there as one of my favorite albums of all-time. And while it was packed with some great...more

EU Announces Guidelines to Standardize Cloud Computing Agreements

In an effort to meet one of the key objectives of the European Union's Cloud Computing Strategy - to develop model terms for cloud computing contracts, including service-level agreements - an industry working group that...more

Nixon Announces Resignation; GSK Just Resigns

Next week, Shanghai’s No. 1 Intermediate People’s Court is scheduled to open a trial against Peter William Humphrey, a 58-year-old British national, and his wife, Yu Yingzeng, a 61-year-old American, on charges of illegally...more

Hackers steal 1.2 billion passwords – 4 steps to take now

The New York Times reported this week that an organized Russian criminal group stole approximately 1.2 billion user name and password credentials associated with more than 500 million email addresses from hundreds of...more

OECD Calls for Higher Focus on Outsourcing, IT and Supplier Risk

At the Twelfth Annual Corporate Accountability Conference held in Paris last month, Pierre Poret, Counsellor and Directorate for Financial and Enterprise Affairs at the Organisation for Economic Co-operation & Development...more

U.S. Department of Commerce Implements New Russian Oil and Gas Sanctions

The sanctions directly affect companies involved in Russia's oil and gas industries by imposing new export license requirements....more

Russian Hackers Reportedly Obtain Internet Credentials of More Than 500 Million Users

On August 5, The New York Times reported that Russian hackers have obtained what could be the largest collection of confidential data in history. The security firm that discovered the breach continues to alert affected...more

Russian Legislation Update

In This Issue: - Judicial Reform - Personal Data - Banking - Payment System - Credit Histories - Concession Agreements - Excerpt from Judicial Reform: On 28 June 2014 the President signed...more

Sanctions Update: Ukraine, Crimea and Sevastopol—the Ukrainian Parliament, the EU and the U.S. impose further measures

This Alert follows our previous alerts on the Russia/Ukraine sanctions available on our website. July continued to be a busy time as the Verkhovna Rada (the Ukrainian Parliament), the EU and the United States intensified...more

U.S. and EU Release New Export Restrictions on Exports of Equipment and Technology to Russia Exploration Projects

U.S. and EU Release New Export Restrictions on Exports of Equipment and Technology to Russia Exploration Projects - In a sweeping expansion of export restrictions against Russia in response to their finding that...more

Tech Companies, the Congo and Dodd-Frank

The fourth anniversary of the Dodd-Frank Act has prompted renewed discussion over the effectiveness of the legislation. Legislators continue their debate over the Financial Stability Oversight Committee and the Volcker Rule....more

Cahiers de droit fiscal international: Ukraine Cross-border outsourcing - issues, strategies and solutions

Summary and conclusions - Ukraine is experiencing the fast development of outsourcing industry due primarily to IT outsourcing. This is supported by tax incentives introduced for the IT sector. Ukrainian tax...more

The Commission Fines Servier And Five Generic Companies For Curbing Entry Of Cheaper Versions Of Cardiovascular Medicine

The European Commission has imposed fines totalling €427.7 million on the French pharmaceutical company Servier and five producers of generic medicines – namely, Niche/Unichem, Matrix (now part of Mylan), Teva, Krka and Lupin...more

Ukraine Crisis Update: EU Enacts Sanctions Targeting Military Exports, Oil Sector and State-Owned Banks

The EU’s “Stage 3” sanctions restrict exports to the Russian military, exports of certain technologies for the oil industry, and certain Russian State-owned banks’ access to EU capital markets. New EU Measures Target...more

New rules on consumer rights in force

As mentioned in Giulio’s post some months ago, Italy implemented the EU Directive 2011/83 on consumer rights. The new provisions were added to the Italian Consumer Code, effective from 13 June 2014. Our team worked hard on...more

Online Payments in China: Recent and Regulatory Actions

On March 13, 2014, People’s Bank of China (“PBC”) issued an opinion letter halting immediately the use of QR codes for payments using mobile phones (as distinguished from using QR codes at POS terminals) well as the use of...more

Sourcing Reference Guide: A reference tool for customers and service providers explaining current best practice and thinking from...

Outsourcing and the New Australian Privacy Law: In a nutshell - In Australia all APP Entities which collect, use or disclose Personal Information must, under the Privacy Act 1988 (Cth) (“Act”), take reasonable steps...more

International Tax News - July 2014

BITCOIN FORGES AHEAD: 3 QUICK LOOKS - Bitcoin is a decentralized peer-to-peer payment system that exists virtually and is unlimited by the constraints of countries, government or time. In an age when business leaps...more

EU adopts new regulation on cross-border electronic identification and e-signatures

The General Affairs Council, on 23 July 2013, adopted a regulation of the European Parliament and of the Council on electronic identification and trust services for electronic transactions in the Internal Market. Until the...more

e-IDs: the Future of Secure Digital Identification?

Over the past decade, the EU has made significant technological and legal strides toward the widespread adoption of electronic identification cards. An electronic ID card, or e-ID, serves as a form of secure identification...more

Corruption Risks in Pharma Manufacturing in Russia

The Russian government has targeted the pharmaceutical industry for growth and development, adopting a program Pharma 2020 Strategy. This program aims to improve the competitiveness of the Russian pharmaceutical industry and...more

Global Boardroom Risk Solutions Newsletter

Now more than ever, there is a need for risk solutions in the boardroom. Any organization can be faced with a significant crisis, whether a fraud investigation, a regulatory infringement, allegations of anticompetitive...more

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