The Court of Justice of the European Union (“CJEU”) has rejected a proposed deal between the EU and Canada for the sharing of passenger data, claiming that it violates data protection and privacy laws. The purpose of the proposed Passenger Name Records (PNR) Agreement is to combat terrorism and transnational crime. However, the CJEU found that the PNR Agreement went beyond what was necessary to address those threats. While the deal was initially agreed in 2014, it attracted a lot...

Read more

In addition to spotlighting the critical importance of a CMS, the CPFB’s citing of CMS-related deficiencies begs the question of whether anyone is capable of meeting the CFPB’s expectations. The CFPB has generated acute awareness of the term “compliance management system” (CMS) through its highly publicized consent orders. Since it began issuing orders in 2011, the CFPB has invariably cited “significant weaknesses” in the subject party’s CMS along with violations of specific federal consumer financial laws. In addition to spotlighting...

Read more

Have you always dreamed of hosting a grand dinner party or just inviting people to enjoy your hospitality? Now is your chance to release your inner party planner for the weekend of August 25-27! Finnish Your Dinner is a dinner party that is open for everybody. The idea was born in 2013 when the first-ever Dinner Under the Helsinki Sky was organized in Helsinki as part of the city’s birthday, Helsinki Day. Pohjoisesplanadi street in the city center was closed...

Read more

Loyens & Loeff advised Brannen Family on the disposal of Niacet Corp. to SK Capital Partners Loyens & Loeff advised Niacet Corporation, a US-based leading producer of specialty ingredients for food, feed, and pharmaceutical applications and a global leader in propionates and acetates with two fully automated manufacturing sites located in Niagara Falls, NY and Tiel, The Netherlands, on its sale to SK Capital Partners, a US-based private equity firm. Loyens & Loeff advised Voogd & Voogd on the disposal of...

Read more

  Major index providers S&P Dow Jones, FTSE Russell, and MSCI recently adopted, or are in the process of considering, changes to their index eligibility rules that could significantly impact companies that have, or that are contemplating, multi-class capital structures. This action, that may impose costs on retail investors that can be avoided by larger investors, should end calls by institutional investors for the stock exchanges and the U.S. Securities and Exchange Commission (SEC) to prohibit the listing of companies...

Read more

Since the Berlin Higher Regional Court had referred the question to the European Court of Justice (ECJ) in October 2015 of whether it was compatible with EU law regulations that only the workers employed in Germany are eligible to participate in the election of the workers' representatives on the supervisory board, the legal sector has been eagerly looking to Luxembourg and awaiting an answer from the ECJ.  The answer is now available and is likely to allow the legal sector to...

Read more