With the Capital Requirements Directive IV (CRD IV) now fully implemented into Dutch law, the consequences of the capital requirements set by the Basel III accord are becoming more and more clear. The Basell III accord, which dates back to 2010, requires banks internationally to meet increased capital requirements gradually towards 2019. The reason for Basel III is primarily found in the ineffective functioning of the Basel II accord rules during the credit crunch. In Europe, the Basel III...

The Court of Justice of the European Union (“CJEU”) recently provided further guidance on what constitutes personal data for the purpose of EU law. The CJEU ruled in the joined cases of YS, M, and S v Minister for Immigratie, Integratie en Asiel that the legal analysis contained in an internal document as part of an internal process is not personal data. The decision came following a request for a preliminary ruling by the Dutch courts. The decision is also...

ATLANTA – September 24, 2014 – Ogletree Deakins, one of the largest labor and employment law firms representing management, is pleased to announce that the firm is expanding its international platform by opening an office in Mexico City. The firm has previously opened offices in Berlin, Germany and London, England to meet the growing demand for international legal services. The firm’s new office allows the firm to provide local labor and employment support and solutions for clients with operations in...

In a September 16, 2014 decision which has broad implications for corporate officers, import managers and other persons involved in import operations, the U.S. Court of Appeals for the Federal Circuit found the president of an importing corporation individually liable for customs penalties under the theory that he was responsible for the “introduction” into the United States of under-valued merchandise imported by the company.  The decision, US v. Trek Leather, Inc., can be accessed at https://www.cafc.uscourts.gov/images/stories/opinions-orders/11-1527.Other.9-12-2014.1.PDF. The Customs penalty statute (19....

Some people go to Atlantic City with a fistful of quarters and dreams of instant wealth. Others go down there apparently with a fistful of quarters hoping to come home with the Pier at Caesars. According to September special servicer commentary, recent bids have come in below the latest appraised value of $5.5 million. Nonetheless, the special servicer is still reviewing those offers and is in discussions with potential buyers. The property backs an $80.5 million Pier at Caesars loan that represents 11.3% of MSC...

Private investigators are facing increased scrutiny over their compliance with data protection rules. In recent months, the Irish courts have seen two criminal prosecutions concerning private investigators.  Following a prosecution in June when a private investigator was charged with over 70 data protection offences, a separate private investigation company and two of its directors now face 23 charges. Considering two prosecutions have been brought in recent months, this may be an area of increasing focus for the Data Protection Commissioner...

One of Throgmorton's main focuses is the alternative investment management sector, and you will be aware that Capita Asset Services was recently granted an AIFM licence allowing us to provide independent AIFM services to both EU and non-EU funds in the alternative investment market to ensure they are compliant. The acquisition complements our AIFM service and strengthens our specialist in-house professional services teams. Throgmorton is one of the UK's largest specialist accountancy and back office service providers to the financial services...

GRANITO, a member of the EACCNY, is pleased to announce they have been selected to be the local co-organizer for the 2015 annual EBN (European BIC Network) forum with over 250 global Business and Innovation Centers and organizations active in supporting growth and development of entrepreneurs, start-ups and SMEs under the umbrella of the European Community. The EBN XXIV Annual Congress will be held at the end of May, complimenting the simultaneous "EXPO Milano 2015".  It is anticipated there will...