Can an otherwise unprotected database be protected through contract law? On 15 January 2015, the Court of Justice of the European Union (CJEU) held it can. The CJEU handed down this important ruling in proceedings between Irish airline company Ryanair and PR Aviation, a Dutch company that operates a website on which consumers can search through the flight data of low-cost air companies, compare prices and, on payment of commission, book a flight. This website obtains the necessary data to...

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Interview with Dr Heike Wagner, a partner at the law firm CMS HascheSigle in Frankfurt, Germany a EACCNY Member. By Tobias Anslinger of Markt und Mittelstand: Das Wachstumsmagazin Many German Mittelstand companies are reluctant to enter the US market. We interviewed Heike Wagner, Partner at CMS Hasche Sigle, who explained how the TTIP might change this. Markt und Mittelstand (MuM):The USA is currently enjoying an economic boom and is an attractive market. So why are many Mittelstand companies still reluctant to invest...

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On February 3, 2015, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) each released publications addressing cybersecurity issues. The SEC's Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert, "Cybersecurity Examination Sweep Summary," reporting observations and summary data collected during its 2014 "sweep" examinations of 57 registered broker-dealers and 49 registered investment advisers pursuant to the Cybersecurity Exam Initiative. OCIE collected and analyzed information about how broker-dealers and investment advisers identified and...

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AlixPartners, a member of the EACCNY, is pleased to announce the promotion of fourteen people to Managing Director. Please join us in congratulating these individuals on their well-deserved promotions and wishing them continued success in their career with AlixPartners. To learn more about any of these individuals, click their photos to read their bios.  New York promotions:       Thomas J. Clarke Enterprise Improvement Deborah Rieger-Paganis Turnaround & Restructuring Services Thomas Studebaker Turnaround & Restructuring Services Additional people who received promotions can be found here. AlixPartners is a leading global business advisory...

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The percentage of loans paying off on their balloon date rebounded in January after a sharp drop in December. The latest reading is about 25 points higher than the December rate of 49.6%, which was the lowest reading since July 2012. The January rate was 71.9% which is above the 12-month moving average of 66.1%. (This number sums the averages of each month and divides by 12--there was no balance weighting across the months.) The highest rate in the...

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Various whistleblower laws protect employees who "lawfully" disclose confidential information in good faith to bring to light illicit or illegal activity. Generally, therefore, employees do not receive whistleblower protections when they obtain or disclose the information illegally.  A recent U.S. Supreme Court case however, demonstrates an exception to that rule. In Department of Homeland Security v. MacLean, the Court held that an air marshal who disclosed confidential information in direct violation of Transportation Security Administration (TSA) regulations was entitled...

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As of January, 2015 DS-Concept has officially joined Factors Chain International (FCI). Established in 1968, FCI is a global network of leading factoring companies whose common aim is to facilitate international trade through factoring and related financial services. Currently, the FCI network consists of  271 factors in 73 countries, actively engaged in more than 80% of the world's cross-border factoring volume. “We are excited to join FCI and believe that our involvement will help DS-Concept further promote the benefits of...

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Montreal, QC — CM Labs Simulations announced today that it is partnering with Canadian venture capital firm Emerillon Capital and Desjardins-Innovatech to accelerate its growth trajectory. Established in 2001, the Montreal-based simulation company is the developer of Vortex, a unique platform for creating interactive real-time simulation-based training and engineering applications. The technology is the leading platform in construction and port terminal operations training and offshore simulation. CM Labs Simulations was recently named to the prestigious Deloitte Technology Fast 50™ listing, ranking...

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In his recent State of the Union address, President Obama made clear that he would veto efforts by the Republican-controlled Congress to undo some of the work that the administration has advanced on a number of pivotal issues. One issue that President Obama referenced by name was immigration. Specifically, the president suggested that he would defend his recent executive action on immigration, vowing that any effort to refight “past battles” would earn his veto. With the implications from that pronouncement...

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Starting from 1st December 2014, certain financial companies have become subject to reporting obligations to the Banque Centrale du Luxembourg (the "BCL") as a result of the entry into force of the Regulation No 2014/17 dated 21 July 2014 (the "New BCL Reporting Regulation") of the BCL. What is the background of the reporting obligations? The Council Regulation (EC) No 2533/98 of 23 November 1998 established the framework of statistical reporting obligations (the "Reporting Obligations") for financial institutions and designated the...

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