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• Regulatory monitoring - October 2023

  The EBA has published the European Supervisory Examination Programme (ESEP) for 2024, which identifies key topics for heightened supervisory attention across the EU. The EBA selected three key topics for supervisory attention for 2024 on the basis of its EU-wide risk analysis, its relevant policy work and the practical experience of competent authorities: liquidity and funding risk, interest rate risk and hedging, and recovery operationalisation. Please see full Newsletter below for more information.

• ZD-Interview: Drei Blickwinkel auf Geldbußen wegen Datenschutzverstößen

  Die Verhängung von Geldbußen nach Art. 83 DS-GVO nimmt in der Praxis eine immer wichtigere Stellung ein. Deutsche und andere europäische Aufsichtsbehörden verhängen immer mehr und höhere Bußgelder wegen Datenschutzverstößen. Viele Fragen zur Verhängung solcher Geldbußen sind dabei sehr umstritten. Die Zeitschfit für Datenschutz (ZD) hat mit Dr. Marc Philipp Weber, Tim Wybitul und Dr. Arne Klaas drei Praktiker zum Interview gebeten, die sich in ihrer täglichen Arbeit intensiv mit Sanktionen wegen Datenschutzverstößen befassen. Ursprünglich veröffentlicht von Zeitschrift für Datenschutz - August 2023. Weitere Informationen finden Sie unten im vollständigen Artikel.

• Takeover Monitor: Current German Public Tender Offers 2023, Issue 3

  The Morgan Lewis Takeover Monitor documents public tender ofers in Germany for Morgan Lewis clients and interested persons. This issue covers published and announced current offers as of August 24, 2023. In addition, it informs about two recent judgments by which the German Federal Court of Justice awarded payment claims to former shareholders of a target company that accepted a takeover offer, based on its findings that a separate agreement between the bidder and another shareholder concerning the acquisition of shares in the target company against a minimum compensation higher than the offer price constituted a price-relevant agreement on the basis of which a transfer of shares can be demanded. Please see full Publication below for more information.

• Expropriation of Residential Property Investors in Berlin - A Realistic Scenario?

  While the German capital continues its political efforts to tackle the housing crisis, a commission has validated the feasibility of expropriating housing providers. On June 28, 2023, a legal expert commission appointed by the City of Berlin (Commission) published its final report (Report), examining whether private residential investors could be expropriated under certain conditions. According to the Commission, the State of Berlin has jurisdiction to enact laws transferring privately owned real estate to publicly owned companies (nationalization, Vergesellschaftung), and such laws would comply with both the federal and the state constitution. Should these laws be implemented, they would likely target private investors who own more than 3,000 residential units in Berlin. Please see full Alert below for more information.

• Ready for Takeover 2.0?

  The German takeover market is declining and has shown clear signs of having been affected by the current economic and geopolitical environment. The number of takeovers and the total offer volume have both fallen significantly. While there were as many as 33 takeovers with a total volume of EUR 67.1 billion in 2021, there were only 18 with a total volume of EUR 5.3 billion in the first 11 months of 2022. Even KKR and Vodafone’s acquisition of Vantage Towers, a radio tower infrastructure company, in December 2022 only increased the total volume for 2022 to EUR 21.4 billion – just under a third of the previous year’s volume... Please see full Publication below for more information.

• German Whistleblower Protection Act: Considerations for Companies

  Companies operating in Germany should implement reporting mechanisms or adapt their existing ones to comply with the new legal requirements. The German Whistleblower Protection Act (Hinweisgeberschutzgesetz — HinSchG) will enter into force on 2 July 2023. The HinSchG is the (albeit late) German implementation of the EU Whistleblower Directive, which entered into force on 16 December 2019 and aims to establish uniform protection standards for whistleblowers throughout the EU. The transposition period for the directive ended on 17 December 2021. Please see full Alert below for more information.

• How Germany’s New ESG Law Will Affect Suppliers Globally

  The Supply Chain Act poses new challenges to suppliers when conducting business with new or existing German-based customers. Key Points: ..The Supply Chain Act obliges in-scope companies to identify, address, and report on human rights-related and environmental risks in their supply and value chains. ..Suppliers to German businesses should familiarize themselves with this legislation and anticipate that their German customers will require ESG-related information and related contractual safeguards. ..Suppliers should update their compliance management systems, allocate internal responsibility to communicate with customers falling within the scope of this Act, consider undertaking a (voluntary) risk assessment, and update their own supplier code of conduct. Please see full Alert below for more information.

• Establishing a Business Entity in Germany (Updated)

  Anyone can establish a business in Germany - irrespective of citizenship, nationality, or place of residence. There is no specific investment legislation for foreign entrepreneurs. Any entrepreneur can make his choice from an exclusive group of different types of legal entities to establish a new company in Germany. Please see full Chapter below for more information.

• Öffentliche Übernahmen in Deutschland Newsletter 2023

  Herzlich willkommen zur sechsten Ausgabe unseres Newsletters “Öffentliche Übernahmen in Deutschland”. Er gibt einen Marktüberblick über die im zurückliegenden Jahr 2022 in Deutschland nach dem Wertpapier- und Übernahmegesetz (WpÜG) durchgeführten öffentlichen Übernahmen und die aktuellen Rechtsentwicklungen im deutschen Übernahmerecht. Als eine global agierende Rechtsanwaltskanzlei beobachten wir fortlaufend den M&A-Markt im In- und Ausland. Die hierbei gewonnen Erkenntnisse möchten wir mit Ihnen mit diesem Newsletter teilen. Please see full Publication below for more information.

• The Technology, Media and Telecommunications Review, 13th Edition - Germany

  This 13th edition of The Technology, Media and Telecommunications Review provides updated overviews of legal and policy constructs and developments in the TMT arena across 18 jurisdictions around the world. As in years past, our goal with this publication is to provide a practical, business-focused survey of these issues, along with insights into how regulatory activity in this arena continues to evolve. Policymakers in 2022 have continued to grapple with the impact of the covid-19 pandemic, which has focussed greater attention on the need for ubiquitous broadband internet connectivity and has hastened efforts to make broadband services more widely available. The height of the pandemic saw a significant rise in remote working, distance learning, tele-health visits, and similar broadband-enabled activities. And while more businesses and schools are now returning to an in-person environment, it remains the case that work, education, and other aspects of our daily lives are more reliant on broadband connectivity today than before the pandemic. Originally published by Law Business Research Ltd - December 2022. Please see full Chapter below for more information.

Featured documents

• German Court Protects the Confidentiality of Leniency Submissions

  In the wake of the seminal European Court of Justice (ECJ) ruling in case C-360/09 - Pfleiderer AG v Bundeskartellamt, Amtsgericht Bonn (Bonn local court), in a decision rendered on 18 January 2012 (case 51 Gs 53/09), has refused to give a damages claimant access to leniency submissions held by ...

• Legal Privilege for Information in Investigations in Germany – New Developments

  For companies conducting an internal investigation of potential wrongdoing in Germany, one important consideration is to protect the confidentiality of the information developed. Given court decisions in Germany which hold that the work of inside counsel is not covered by the attorney-client...

• "German Bundestag Approves Law Regulating High Frequency Trading"

  The lower chamber of German parliament (Bundestag) approved last week a draft act regulating high frequency trading in Germany. The chamber of the federal states (Bundesrat) is scheduled to vote on the act on March 22. If approved, the act will become law within a few weeks after the vote....

• New German Cartel Fine Guidelines

  The German Federal Cartel Office has just published new Guidelines on the Setting of Fines for antitrust law infringements. With these guidelines, the German Federal Cartel Office departs from the method of setting fines used by the European Commission and other national competition authorities in ...

• Viel Aufregung zur rechten Zeit: Urteil des BAG zum Weihnachtsgeld

  Berichte und Aufmacher in allen Medien und alles zum passenden Zeitpunkt: Zur beginnenden Weihnachtszeit ein Urteil des Bundesarbeitsgerichts (BAG) - 10 AZR 848/12 - zum – untechnisch gesprochen – Weihnachtsgeld. Ist die Aufregung gerechtfertigt ? Eher nicht, hat das BAG doch nur seine bereits...

• BMF veröffentlicht Verhandlungsgrundlage fu¨r zuku¨nftige Doppelbesteuerungsabkommen

  Deutschland gewährt Einblicke in seine DBA-Verhandlungspolitik. Das Bundesfinanzministerium ist dem Beispiel der USA, Österreichs und Belgiens gefolgt und hat ein Muster für zukünftige DBA-Verhandlungen veröffentlicht. Bemerkenswert an diesem Vorgang ist, dass die Finanzverwaltung erstmals...

• Betriebsratswahlen 2014 – Zentrale Entscheidungen des BAG

  Ab März 2014 finden in Deutschland wieder regelmäßige Betriebsratswahlen statt; die Vorbereitungen hierzu laufen vielerorts bereits. Dabei gilt es, die aktuelle Rechtsprechung des Bundesarbeitsgerichts zu den Wahlen zu beachten, um Verstöße gegen das Betriebsverfassungsgesetz zu vermeiden. Im...

• BAG: Organisation des betrieblichen Arbeitsschutzes unterfällt Mitbestimmung des Betriebsrats

  Betriebliche Arbeitsschutzmaßnahmen, denen der Arbeitgeber aufgrund öffentlich-rechtlichen Vorschriften unterliegt und die ihm gleichzeitig Handlungsspielraum hinsichtlich der Planung und Durchführung eröffnen, unterliegen gemäß § 87 Abs. 1 Nr. 7 BetrVG der Mitbestimmung des Betriebsrats, wenn...

• BAG: Gesetzlicher Urlaubsanspruch trotz ruhenden Arbeitsverhältnisses

  Der Arbeitgeber muss einem Arbeitnehmer, der (unbezahlten) Sonderurlaub nimmt, den gesetzlichen Urlaub zum Ende des Beschäftigungsverhältnisses gegebenenfalls trotz ruhenden Arbeitsverhältnisses abgelten. Dies hat das BAG am 6. Mai 2014 (Az.: 9 AZR 678/12) entschieden....

• Appointment of a Data Protection Officer in Germany: You Wanna Avoid Trouble? Then Make Sure You Appoint the Right Person!

  Data protection law is on the rise. Courts as well as local authorities become increasingly sensitive to the misuse of any individual’s personal data that applicable statutory provisions in Germany, such as the Federal Data Protection Act (Bundesdatenschutzgesetz, “BDSG”), intend to prevent....