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Claiming compensation from your director (under the articles of association) who is residing abroad? Know which court to go to

Claiming compensation from your director (under the articles of association) who is residing abroad? Know which court to go to

It is well-known that legal proceedings are not constrained by national borders. It is for that reason that within the European Union there are two regulations setting out which court has jurisdiction within the EU in particular cross-border proceedings. In respect of all legal claims brought before 10 January 2015, ... Read More »

Sustainable Development in the Swedish Financial Market

Sustainable Development in the Swedish Financial Market

In the last couple of years, development of a sustainable society and environment has become increasingly important within the financial market. For example, such development includes avoiding investments in fossil fuels and instead focusing on sustainable alternatives. In 2015 European politics discussed and drew up new goals on the subject, ... Read More »

Information Regarding Active and Passive Activity in Swedish Fund Management

Information Regarding Active and Passive Activity in Swedish Fund Management

The fund market consists of both active and passive managed funds (UCITS and AIFs) available for purchase. Simplified, active management involves an individual manager, co-managers, or a team of managers managing the funds by investing the means of the fund in different financial instruments. A passively managed fund is an ... Read More »

Federal Government adopts draft law for the implementation of the Second Payment Services Directive (PSD II)

Federal Government adopts draft law for the implementation of the Second Payment Services Directive (PSD II)

The law makes payment initiation services and account information services subject to regulatory supervision by the Federal Financial Supervisory Authority (BaFin). Furthermore, there will be stricter authentication requirements when making online payments. On February 8, 2017, the federal government adopted a bill to implement the Second Payment Service Directive. It ... Read More »

Spain: Publication of the draft Personal Data Protection Law to replace the Personal Data Protection Law 15/1999

Spain: Publication of the draft Personal Data Protection Law to replace the Personal Data Protection Law 15/1999

The Ministry of Justice has published the draft Personal Data Protection Law to replace Personal Data Protection Law 15/1999 (LOPD, its Spanish acronym) in order to adapt the Spanish regulations to the General Data Protection Regulation 2016/679 (GDPR), passed by the European Union on April 2016. This draft is submitted ... Read More »

Large companies must now report comprehensively on social aspects – sustainability reporting is mandatory from 2017

Large companies must now report comprehensively on social aspects – sustainability reporting is mandatory from 2017

Companies with more than 500 employees must report now not just on financial matters. They must now also report on how they respect the rights of their workers, protect the environment and fight corruption. The law on the Implementation of the Corporate Social Responsibility Directive (CSR) came into force on ... Read More »

Two insurances do not cover water damage – recourse pursuant to Book 7, Section 961 of the Dutch Civil Code unsuccessful

Two insurances do not cover water damage – recourse pursuant to Book 7, Section 961 of the Dutch Civil Code unsuccessful

Water damage at the Erasmus Medical Centre, which occurred after the 2004 refurbishment, was only covered under buildings insurance and not under CAR insurance because the contract documents did not include a maintenance obligation for the main contractor. What was agreed in the dealings between the main contractor and the ... Read More »

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