European Economic Money

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Multiple Staff Layoffs In The UK - The Scope For Criminal Liability For Directors

Within the UK and throughout the European Economic Area employers are subject to express obligations to inform and consult with staff in advance of making multiple redundancies. This is as a result of a European directive,...more

Commission consults on CRD4 remuneration

The Commission has issued a consultation to help it produce a report on the efficiency of the CRD4 remuneration rules. The Commission is particularly interested in views on the possible impact of the “Maximum Ratio Rule” on...more

Implementation Issues Arising from the Revised UK Senior Manager and Certification Regime

The UK Government recently announced that it would introduce a new statutory duty of responsibility on senior managers in all financial institutions and repeal the presumption of responsibility that would have applied to...more

Will The CFAA, An Old Anti-Hacking Law, Apply To Password Sharing?

David Nosal, an ex-employee of Korn Ferry International (“KFI”), convinced some of his former colleagues to download source lists from KFI using their log-in credentials and the log-in credentials of another employee. In...more

Safe Harbor – What Happens Now?

Huge uncertainty has been caused by the recent judgment of the Court of Justice of the European Union (CJEU) on 6 October that the Safe Harbor decision by the European Commission is invalid. Many companies which previously...more

EU Strikes Down the Safe Harbor Framework for Transatlantic Data Transfers: What You Should Know and What to Do Next

The European Court of Justice has declared invalid the Safe Harbor data-transfer agreement that has governed EU data flows across the Atlantic for the last 15 years. Thousands of U.S. companies have relied on the Safe Harbor...more

Key EU Employment Decision Impacting On Aviation And Wider Transport Sector

Within the EU and wider EEA significant employment legislation often derives from EU directives which individual member states are then required to implement into their national law. Of particular significance is the Acquired...more

No Longer a Safe Harbor? What the European Court's Recent Ruling Means for Pension Schemes

The Court of Justice of the European Union (CJEU) recently handed down its decision in the Schrems case. It agreed with the Advocate General and effectively decided as follows: - the fact that the EU Commission...more

Alert: Safe Harbor Ripples Affect EU Student Data at US Schools

Last week Europe's highest court, the Court of Justice of the European Union (CJEU) declared invalid a "Safe Harbor" framework whereby personal data could be easily transferred between many European countries and the US. The...more

Court of Appeal Sets Aside Order for Disclosure of Unredacted Commission Decision and Orders Strike Out of Economic Tort-Based...

On 14 October 2015 the Court of Appeal (CoA) handed down its judgment on appeals against orders made by Peter Smith J arising out of an alleged cartel for airfreight services. First, the CoA said the High Court was not...more

Alert: Unsafe Harbor - Online Retailers

Last week Europe's highest court, the Court of Justice of the European Union, (CJEU) declared the Safe Harbor framework invalid. You can read more about the decision in our previous alerts here. Although it is unlikely that...more

Alert: Unsafe Harbor: Social Media

Last week Europe's highest court, the Court of Justice of the European Union, (CJEU) declared the Safe Harbor framework invalid. You can read more about the decision in our previous alerts here. Although it is unlikely that...more

Alert: No More Safe Harbor: What Should Life Sciences And Biotech Companies Be Doing To Transfer Data To The US?

Last week Europe's highest court, the Court of Justice of the European Union (CJEEA) declared the Safe Harbor framework invalid. Many life sciences and biotech companies relied on Safe Harbor to legitimise transfers of...more

Transfer of Employees’ Personal Data from Germany to the United States under German Data Privacy Law

Following the ECJ’s decision in the “Schrems” case which has invalidated the Safe Harbor framework multinational corporations may now face profound privacy law related compliance issues in a multitude of jurisdictions. In the...more

HorrorFest 2015 Celebration Part II – The Cat People, the Schrems Decision and FCPA Investigations

It’s the second Friday in October and I am continuing my HorrorFest month. I usually call it Monster Movie Fest but this year I am celebrating the films of Val Lewton who really worked more broadly in the horror genre, rather...more

The Court of Justice of the European Union Sinks the Safe Harbor Program

The End of Safe Harbor - In a decision that could significantly impact those doing business in the United States and Europe, the European Union's highest court ruled on October 6, 2015, that the U.S.-E.U. Safe Harbor...more

EU U.S. Data Protection: U.S.-EU Safe Harbor Scheme Declared Invalid by Court of Justice of the European Union

As anticipated by our earlier article (published on October 2, 2015) “EU U.S. Data Protection: The Safe Harbor Framework Under Attack”, Europe’s highest court, the Court of Justice of the European Union (CJEU), has followed...more

EIOPA publishes opinion on group solvency calculation

EIOPA has published its opinion on group solvency calculation in the context of equivalence. ?The opinion is of relevance for insurance groups operating outside the EEA in third countries...more

US–EU Safe Harbor – Struck Down!

1. CJEU finds Safe Harbor Invalid - In a landmark ruling delivered today, Europe's highest court, the Court of Justice of the European Union (CJEU) declared that the EU Commission's US - EU Safe Harbour regime is...more

EU–US Safe Harbor About to be Struck Down?

Thousands of U.S. and European companies who rely on the EU–US Safe Harbor Framework to permit the transfer of personal data from the EU to the U.S., have come a step closer to seeing the transfer mechanism struck down....more

Global Tax News: Belgium Adopts New Fiscal Measures

The Belgian Parliament has adopted a Program Law containing a wide array of fiscal measures. The most salient of these measures are (i) the introduction of a transparency tax regime for physical and legal persons subject to...more

PRA consults on audit committee requirements

PRA has issued a consultation on its proposed rules for implementing the audit committee requirements of article 39 of the revised Statutory Audit Directive. PRA proposes: - CRD credit institutions, Solvency 2 insurers,...more

A Beginner’s Guide to Trade Secrets

So what exactly are trade secrets? How do they differ from patents? Is any piece of confidential corporate information considered a trade secret? For those outside the world of intellectual property, these are common...more

Frequently Asked Questions Regarding Trade Secret Disputes and Employment Risks

In today’s post, we have answered some of the most frequent and significant questions that we are asked about trade secret disputes and employment risks. 1. Could you provide a brief snapshot of current trends in...more

Draft EEA Environmental Justice Policy Released in Massachusetts

In January, we reported on the issuance of an executive order on environmental justice (EJ) by the administration of outgoing Massachusetts Governor Patrick, provided a survey of the EJ framework in Massachusetts, and...more

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