Data Security New Regulation or Official Guidance Author:  Aki Tanaka, Attorney — Littler Mendelson, P.C. The EU’s top data protection regulatory body, the Article 29 Working Party, released a set of frequently asked questions on the EU’s General Data Protection Regulation (GDPR), which governs cross-border data processing activity. The Working Party also published a set of guidelines for identifying a controller or processor’s lead supervisory authority. Both documents flesh out certain concepts and definitions of the GDPR, such as what activities constitute cross-border processing of...

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Eliminating legal uncertainty and taking the pressure off companies or final consumers who assumed, before the REA 2014 (EEG 2014) came into force on 1 August 2014, that they could supply themselves with power from their own share in the capacity of a power plant (“capacity share”) without paying the renewable energy surcharge – this is the purpose of a new transitional rule in the REA 2017 (EEG 2017), which is a type of amnesty provision. Initial situation The legislator defines...

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On 31 March 2017, the Netherlands published a draft legislative proposal for the implementation of the ‘UBO-register’. The Dutch government has launched an online public consultation, providing anyone interested with the opportunity to comment on the draft legislative proposal. The online public consultation closes on 28 April 2017. What is the UBO-register? The UBO-register is a central register containing information on Ultimate Beneficial Owners of corporate entities and other legal entities incorporated in the Netherlands and will form an integral part...

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After the failure of the Trump/GOP healthcare bill the next focus is on the Republican tax reform proposals, which may well be outlined more clearly by the end of the month. With the USD having weakened a little over the last month and having failed to benefit even though the Fed raised rates again in March the focus on “Trumpflation” has if anything increased. The lack of significant action from the administration is generally seen as the main reason...

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Vistra has announced the acquisition of Podium SAM, a privately owned wealth structuring advisory provider in Monaco. Following the acquisition, Podium SAM will be rebranded as Vistra Private Office SAM. In addition, Vistra Monaco Corporate Services SAM has been incorporated to act as a local company administrator and has been granted the necessary licence in Monaco to set-up and manage trusts, companies and private fund structures for HNW families. This acquisition sees the expansion of Vistra’s presence into Monaco, further...

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On February 20, 2017, U.S. Secretary of Homeland Security John Kelly released two new policy memoranda aimed at implementing President Trump’s executive orders on enhancing the public safety of the interior and border enforcement of immigration laws. The first memo, titled “Enforcement of the Immigration Laws to Serve the National Interest,” immediately rescinded President Obama’s Priority Enforcement Program, which prioritized deportation of criminals and recently-arrived undocumented individuals, and gives immigration officials broad authority to deport “all removable aliens,” including those...

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• As part of his first-week initiatives, President Trump turned his focus toward immigration. These initiatives included dramatically expanding the resources of the U.S. Department of Homeland Security’s Immigration and Customs Enforcement (ICE) agency. Specifically, the Trump administration authorized the hiring of 10,000 ICE agents across the United States. This increase in the number of ICE officers will have a direct impact on employers as it relates to I-9 compliance and ICE audits of Forms I-9. For example, it...

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ING announced today the appointment of Mark Milders as head of ING Group Investor Relations. Mark will succeed Malcolm Brown, who will take up the position of project lead for Strategy and Innovation at ING Wholesale Banking on 15 May 2017. Patrick Flynn, CFO of ING Group said: "I am pleased to have Mark as our new head of Investor Relations. His in-depth knowledge of our company and its products, and his experience working with our Wholesale Banking clients, will...

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In geopolitical terms, there has been nothing to compare with 2016 since the end of the Cold War. Neither Brexit nor the election of President Trump was expected. The potential impact of either event, let alone both, could reasonably be anticipated to have given rise to inertia, confusion and uncertainty. In fact, M&A has been remarkably robust. Although global M&A value tumbled by 18% in 2016, the number of deals remained constant. Overall, 2016 was similar in value and volume to...

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