European Union

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
News & Analysis as of

Think High Stakes Whistleblowing is Just a U.S. Phenomenon? Think Again.

Today the SEC announced that it will pay $30 million to a whistleblower in the largest award ever doled out by the agency. This news is monumental and will send shock waves around the financial world—along with gut...more

Corporate and Financial Weekly Digest - Volume IX, Issue 37

In this issue: - Council of Institutional Investors Issues Report on Board Evaluation Disclosure - FINRA Revises Proposal to Adopt Consolidated FINRA Rule 2231 - IRS Considers Whether Management Fees of...more

A new round of EU sanctions against Russia

On Friday 12 September 2014, an additional set of EU sanctions measures entered into force against the Russian Federation. Background - On 31 July 2014, the European Union adopted Regulation 833/2014, imposing...more

FRANCE: Cookies Sweep Day Is Here

The CNIL announced last week that it was conducting its Cookies Sweep on September 18-19. The CNIL reviewed 100 French websites and checked the following...more

European Court of Justice: Services by US Corporation to EU Based Branch May Attract Extra VAT Costs

On September 17, 2014, the European Court of Justice (ECJ) rendered its judgment in high-profile case C-7/13 upon request for a preliminary ruling in the proceedings Skandia America Corp. (USA), filial Sverige vs....more

EU Strengthens Economic Sanctions Against Russia

The European Union (EU) put into effect on Friday (September 12, 2014) a new round of economic sanctions against Russia over its role in Ukraine. ...more

SEC Sued to Implement Resource Extraction Rules

On July 2, 2013, the United States District Court for the District of Columbia vacated the SEC’s resource extraction rules which were mandated by the Dodd-Frank Act. Since that time, industry players have asked the SEC to...more

Germany: Monitoring and/or Reading of Employees' Emails

Although there is no German law specifically prohibiting monitoring or reading of employee emails, the German Federal Data Protection Act (Bundesdatenschutzgesetz – hereinafter “BDSG”) as well as the German Telecommunication...more

Sanctions: European Union significantly toughens its stance towards Russia

Note: This is an update to our last bulletin on this subject of 13 August 2014. The new measures are relevant to Harneys' core jurisdictions: Cyprus, the British Virgin Islands and the Cayman Islands. Concurrent with...more

France: Taking into Account Absences Due to a Strike While Calculating Bonuses Does Not Necessarily Infringe the Right and the...

Under the French Labor Code, the exercise of the right to strike shall not lead to retaliation by the employer in terms of employee compensation or benefits....more

FRANCE: French Legislation on Evening Advertising on Public Channels: Should We Expect Another Shift in Policy?

It has been five years since the French government decided to ban advertising at night for public-service television channels. Indeed Article 28 of law No. 2009-258, dated March 5, 2009, prohibited the broadcasting of...more

The European Commission 2014-2019

President-elect Jean Claude Juncker announced on September 10 the allocation of responsibilities in his team and the way work will be organised in the European Commission once it takes office. The most important...more

The Rise of Warranty and Indemnity Policies in M&A Deals

The use of warranty and indemnity (W&I) insurance policies in M&A deals has become increasingly popular in recent years. “This trend is becoming global,” said Rod Brown, a partner in Latham & Watkins’ Singapore office. “There...more

France: New Obligation on the Employer Seeking External Redeployment in the Case of Redundancies (or Economic Dismissals)

Before making an employee redundant, the employer must: - Seek internal redeployment within the company and the Group (if any) and offer to the employee any internal redeployment offer. Otherwise, the employee’s...more

French Supreme Administrative Court Rules on the Procedure for Returning Artworks Looted by the Nazis

After World War II, works of art suspected of having been stolen by the Nazis were listed on a special registry called the Musées Nationaux Récupération (MNR registry), and stored in French museums until they could be...more

Are You Ready? The EU “Cookie Sweep” Is Upon Us

This week, European authorities will be conducting a "cookie sweep" consisting of random checks of websites to ensure that they are complying with European Union (EU) "cookie" laws....more

New Disclosure Rules for Extractive Companies Coming Into Force Soon

UK companies, including UK subsidiaries of EU companies, face tougher anti-corruption rules from next year. Under chapter 10 of the EU Accounting Directive (2013/34/EU) (“the Accounting Directive”) and the EU...more

International Tax Alert: OECD Releases BEPS Papers

Yesterday saw the release of the first set of deliverables under the OECD’s project on base erosion and profit shifting (BEPS). These constitute the “building blocks” for an internationally agreed and co-ordinated response...more

Global Financial Markets Insight

Change continues to be the main theme running through Summer 2014. There is the usual raft of new regulations to contend with but also welcome noises from policy makers including the European Central Bank and the Bank of...more

France: What Should an Employer Do Where an Employee Seeks a Declaration of Constructive Dismissal without Resigning?

Under French law, there are various ways in which an employment contract may be terminated: resignation, dismissal, redundancy, amicable termination and so on. There is also a category of termination which is similar to a...more

(Yet another?) LCN Consultation!

A new consultation? Well, strictly speaking, not, although it feels like it. As discussed in our post of last week, the Consiglio di Stato (Administrative Supreme Court) issued a Decision no. 4541/2014 on the LCN,...more

The Mergers & Acquisitions Review: Eight Edition: Chapter 13: Cayman Islands

OVERVIEW OF M&A ACTIVITY - The Cayman Islands experienced a significant increase in new company registrations in 2013 compared to 2012; 9,433 new companies were incorporated compared with 8,971 a year earlier. As of 31...more

Guideline Published for the Danish Inventory of Nanoproducts

In August 2014, the Danish Environmental Protection Agency published the Guideline for the Danish Inventory of Nanoproducts, which is intended to explain how manufacturers and importers of products for consumers should use...more

Dutch Tax Plan 2015 and other changes in Dutch tax law

Today, the Dutch Ministry of Finance published its Tax Plan 2015 (hereinafter: Tax Plan). The Tax Plan primarily has an impact on citizens of the Netherlands, especially employees. The impact for the business community...more

“By Object” Restrictions of Competition Revisited: European Court of Justice Endorses Narrow Interpretation

EU High Court adopts narrow interpretation of “by object” restrictions and boosts effects-based approach with significant implications for cooperation/joint venture agreements. The European Court of Justice has...more

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