In a landmark decision that will dramatically affect thousands of U.S. companies that transfer personal data from the European Union ("EU") to the United States, the European Union Court of Justice ("ECJ") yesterday invalidated the Safe Harbor Framework, which had permitted U.S. companies to comply with EU restrictions on the transfer of personal data outside the EU.    More than 4,000 companies, primarily U.S.-based multinationals, currently rely on the Framework, an agreement forged years ago between the U.S. Department of Commerce...

On October 6, 2015, the European Court of Justice (ECJ) will issue its decision in the Schrems case which may invalidate the U.S. Safe Harbor Framework. The Safe Harbor Framework permits U.S. companies to transfer personal data regarding their E.U. employees and customers to the U.S. in compliance with E.U. data protection requirements. The case involves a legal challenge brought by Austrian national, Max Schrems, against Facebook regarding Facebook’s transfer of personal data from the E.U. to the U.S. under...

The Department of State has announced the opening of the registration period for the 2017 Diversity Visa (DV) lottery. As in past years, the DV lottery will allow a maximum of 50,000 "diversity immigrants" to obtain permanent residence in the United States if they are from countries with low rates of immigration to the United States. Entries for the DV-2017 lottery must be submitted electronically between noon Eastern Daylight Time (EDT) on Thursday, October 1, 2015, and noon Eastern Standard...

After a series of high-profile data breaches at both financial and non-financial companies, regulators are increasingly highlighting the need for funds’ ongoing efforts to prevent and respond to hacking events. Amid this added scrutiny, fund managers will be expected to stay informed of their responsibilities and ensure they are in compliance. The issue of cybersecurity has been in the headlines in 2015 following data breaches involving several nationwide retailers and retail banks. The investment sector has also been affected, including the...

Executives cautious as M&A deal value rises but the number of deals decreases • Deal value has risen by 17% for the first half of the year while the volume of deals for the first half of 2015 dropped by 14% compared to last year • European M&A market remains attractive to foreign acquirers • Respondents believe private equity is now the most available source of financing • The TMC sector has overtaken Industrials and Chemicals as the most sought after this year M&A...

KINGDOM OF SWEDEN / KONUNGARIKET SVERIGE -  Country Overview: Location: Northern Europe, bordering the Baltic Sea, Gulf of Bothnia, Kattegat, and Skagerrak, between Finland and Norway Size: 450,295 sq km Population: 9,747,355 (2014 est.) Capital: Stockholm Exports-commodities: machinery, motor vehicles, paper products, pulp and wood, iron and steel products, chemicals, hydropower Imports-commodities: machinery, petroleum and petroleum products, chemicals, motor vehicles, iron and steel; foodstuffs, clothing Currency: Swedish Kronor (SEK) Ethnic groups: Swedes with Finnish and Sami minorities; foreign and first-generation immigrants: Finns, Yugoslavs, Danes, Norwegians, Greeks, Turks Religion: Lutheran...

GRANITO is pleased to announce its continued support of the Bellisario Foundation, the most important network of female leaders in Italy, at its upcoming event on October 2nd and 3rd in Milan. Hosted at EXPO 2015, the event will focus on women's contribution to scientific research connected with EXPO's leading theme. Under the guidance of its visionary President, the Hon. Lella Golfo, the Bellisario Foundation continues to support and promote professional and entrepreneurial female leaders in influencing and contributing to the world around them. GRANITO welcomes women to join...

CMBS loan liquidation volume rose back above $1 billion after lower summertime totals in July and August. In total, $1.02 billion across 70 loans were liquidated with losses in September. The majority of the increase can be attributed to the jump in average loan size to $14.56 million, up from $11.48 and $9.44 million in August and July respectively. Seven loans totaling $55.67 million took 100%+ losses, three of which were relatively small B notes. 1604 Broadway, a $25.70 million retail...