On 18 November 2021, the European Data Protection Board (the “EDPB”) published guidelines on the interplay between article 3 GDPR, on the territorial scope of the GDPR, and Chapter V of the GDPR, on international transfers. The guidelines clarify the concept of international transfers and provide clarification on the necessity of a transfer mechanism through several practical examples. The extra-territorial applicability of the GDPR and ambiguity relating to international transfers The GDPR does not only apply to data controllers and processors...

With demand for energy on an increasingly upward trajectory over the course of the decade, the Government is concomitantly increasingly concerned about the security of Ireland’s energy supply. The challenges facing Ireland’s energy supply can be summarised in four key points: (1) lower than expected availability from some existing power stations; (2) anticipated new power stations not being developed as planned; (3) expected growth in electricity demand, including from data centres; and (4) expected closure of some power stations...

Luxembourg, 3 December 2021 – Stéphanie Lhomme has joined Arendt Regulatory & Consulting in the role of Director in order to strengthen Arendt’s advisory services offering to clients in the areas of Forensic Investigations, Anti-bribery & Corruption, and Corporate Intelligence. Before joining Arendt Regulatory & Consulting, Stéphanie worked at major advisory firms in France, the US and the UK. Financial crime in the broadest sense is on the rise (fraud, corruption, money laundering, misuse of corporate assets, theft of information and...

This week's special newsletter provides an overview of notable changes in Canadian immigration including all measures directly related to the COVID-19 pandemic. Here are the most important news since the beginning of the pandemic and travel restrictions as of December 1st, 2021. Molecular testing will be required upon arrival in Canada by air International travellers (excluding the USA) entering Canada by air will be required to undergo a molecular screening test upon arrival - including vaccinated travellers. Travellers should then be quarantined...

The pandemic is still with us as the year winds down and has not yet become endemic, like the seasonal flu.  Even before the new Omicron variant was sequenced, Europe was being particularly hard hit, and social restrictions, especially among the unvaccinated, were spurring social strife.  US cases, notably in the Midwest, were rising, and there is fear that it is 4-6 weeks behind Europe in experiencing the surge.  Whatever herd immunity is, it has not been achieved.  Moreover,...

The third quarter of 2021 ended with commodity prices continuing their upward movement. While U.S. crude oil prices modestly increased 2.1% during the quarter to $75.03 per barrel, this does not reflect the wide swings during the quarter, including a +20% increase in WTI prices from mid-August as steadily increasing demand and concerns about future supply created a bullish trend for oil. The drilling rig count rose by 51 rigs (per Baker Hughes) during the third quarter of 2021,...

In light of the growing role of Alternative Investment Funds (AIFs) as financial intermediaries and further developments in the market since the AIFMD came into force in 2011, the EU Commission has published a proposal for targeted amendments to the AIFMD that acknowledges the directive's role as a significant pillar of the Capital Markets Union (CMU). While fine-tuning the AIFMD framework, the EU Commission is simultaneously proposing a degree of harmonisation with the UCITS framework. Earlier today, the EU Commission...

We are eagerly awaiting to see how the UK Government’s latest immigration reform to reflect the global nature of business pans out. The Global Business Mobility visa is set to commence in Spring 2022 and will provide more new solutions for overseas firms moving staff to the UK. Who should apply for a Global Business Mobility visa? Global Business Mobility visas should prove helpful for overseas firms establishing a UK footprint or transferring trainees, senior and specialist staff to the UK to...