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Italian Supreme Court limits scope of beneficial ownership under Interest and Royalties Directive Italian Supreme Court Decision No. 3380 of 3 February deals with the interpretation of the beneficial owner (BO) requirement under the Interest and Royalties Directive (IRD) and the abuse of that directive. The decision held that the BO requirement should...
Another one bites the dust: Further vicarious liability data breach claim fails In a critical decision for organisations handling sensitive data, Luton Borough Council has been found not vicariously liable for the acts of a rogue employee who deliberately leaked sensitive data about a woman and her children. What happened? Isma Ali...
Tackling cyber supply chain risk: new laws proposed From reports of cyber attacks at the UK’s Foreign office and European oil facilities to crisp shortages caused by a ransomware attack at KP snacks, cyber is again hitting the headlines. It is no surprise then that the government has recently said in its...
Henry's back... The release of Sue Gray’s update report on 31st January somewhat overshadowed the Prime Minister’s announcement of a Brexit Freedoms Bill, timed to coincide with the two-year anniversary of the UK’s withdrawal from the European Union.  On exit day...
Cryptoasset promotions: sweat the small stuff The FCA has published a consultation paper setting out its approach to strengthening its financial promotion rules for high risk investments. As Tim mentioned in his blog post, this is connected to HM Treasury publishing a paper bringing cryptoassets...
Getting transfers done: ICO finalises the UK’s international transfers documents Last week, the UK’s International Data Transfer Agreement (IDTA) was laid before Parliament, along with an addendum (the EU Addendum) to the EU standard contractual clauses (EU SCCs) (that we discussed here). The ICO also announced changes to the...
Right to appeal administrative sanctioning proceedings in Spain The right to appeal in criminal cases is embodied in Article 2 of Protocol No. 7 to the European Convention on Human Rights (ECHR) to which Spain is a party. This right is broader in scope than its counterpart in the International Covenant on Civil and...
Recent changes to special CIT regimes applicable to Spanish real estate investments Various legal developments that recently entered into force in Spain impact two special tax regimes widely used by international real estate investors. Law 11/2021 of 9 July 2021 on measures to prevent and combat tax fraud amends the SOCIMI (Spanish REIT)...
High energy prices, in-the-money hedges and another special purpose tax for the UK The UK government is proposing to introduce yet another new tax, the Public Interest Business Protection Tax (PIBPT) (even though the ink on the Health and Social Care Levy Act 2021 has hardly dried and the Finance Bill already makes provision for a new...
General Court annuls European Commission’s 2009 €1.06 billion fine on Intel Thirteen years after the European Commission imposed a EUR 1.06bn fine on US chipmaker Intel on charges of abusing its market dominance and seeking to exclude a competitor from the market, Intel has successfully persuaded the General Court to annul the...