23 november heilige

EUGeneral Data Protection Regulation Discussion BroadcastThe Assistant European Data Protection Supervisor and the Rapporteur for the Data Protection Regulation have discussed the General Data Protection Regulation (GDPR). They noted that the timeline that had been set for the end of 2015 was nearing, but there was optimism that there could be political agreement in this time. There are still some core compromises needed: for example, in relation to the requirement for a mandatory data protection officer, the question of consent and other grounds for processing data (in particular legitimate interests for processing), but the position is moving toward a consensus. All parties foresee that the implementation period will be two years once the regulation is finalised.EU Agency for Fundamental Rights Report on SurveillanceThe EU Agency for Fundamental Rights (FRA) has published its report focussing on the legal framework governing surveillance by intelligence powers. The report also … [Read more...] about EU Weekly Data Privacy Alert – 23 November 2015

Supreme Court Justice SS Nijjar has reserved his order on the issue of appointing national or international arbitrator for adjudication of dispute between Reliance Industries Ltd and the Government of India over recovery of cost for developing the country’s key natural gas field in KG basin.The apex court has asked Mukesh Ambani-led Reliance Industries and the Centre to suggest names of persons, both Indian and foreign nationals, who could be considered for the appointment by 13th January. The issue whether an Indian or a foreign national is to be appointed as presiding arbitrator will be decided by the judge who will then consider the names proposed by the rival parties.After the Centre had refused the proposal of Reliance Industries, the latter had moved the apex court for appointment of an arbitrator from a foreign country with which parties in disputes are not connected. Former CJI SP Bharucha has been nominated by Reliance Industries as its arbitrator while the Centre chose … [Read more...] about Order on appointment of arbitrator in KG basin dispute reserved by Supreme Court

The syndicated loan market in Japan amounted to approximately USD 208 billion in size in fiscal year 2014, placing Japan as one of the leading syndicated loan markets after the United States, United Kingdom and Canada. Japanese syndicated lending for the first half of 2015 recorded a total of USD 118.7 billion in proceeds from 1,005 deals, a 4.7% increase in deal count in comparison to the same period in 2014.According to data published by Thomson Reuters, Mizuho Financial Group are the lead mandated arranger with 285 deals in the region equating to USD 46 billion (38.8%market share) and have also ranked number one as bookrunner with 263 deals equating to USD 48 billion (42% market share) in 2015 YTD.In the context of this lending market, the secondary debt trading market has recently shown clear signs of further expansion, with the … [Read more...] about Japan Trade Alert

Note: This month’s CLE, “Family Law Goes Global,” is Wednesday, July 21.Christopher Savoie got the kind of telephone call that terrifies a parent on Aug. 12, 2008. The school where his two young children attended classes wanted him to know that they had not shown up that day.But Savoie’s first thought was not that Isaac and Rebecca had been victimized by some stranger. Instead, he rushed over to his ex-wife’s home not far from his in the Nashville, Tenn., suburbs. “The first thing that came to mind was murder-suicide,” he says. “It was a horrible thing to imagine. I’d had no contact with her in two days, and that wasn’t normal.”Savoie found his ex-wife’s house empty and the blinds drawn. That’s when another explanation for the children’s disappearance began to worry him.For months, Savoie had been telling people—including the judges overseeing the couple’s divorce—that he feared his … [Read more...] about When Global Families Fail

ECB Consultation PaperOn 23 November 2016, the European Central Bank (the “ECB”) launched a public consultation in relation to draft guidance for Eurozone banks intended to develop clear and consistent definitions, measures and monitoring with regard to leveraged transactions. The draft guidance sets out how the ECB expects banks to maintain the credit quality of their leveraged transactions and to monitor related risks to their balance sheets. The consultation period runs until 27 January 2017.Background to the ECB’s involvement in this areaThe search for yield in the current low interest rate environment has made leveraged finance activities more significant for banks. This development prompted the ECB to survey a number of Eurozone banks in 2015 to examine their involvement in leveraged finance activities.The outcome of the survey highlighted that the leveraged finance markets have experienced a strong recovery since the financial crisis and that they are … [Read more...] about European Central Bank Publishes Draft Guidance on Leveraged Transactions