Newsletter June 2011
BANKING AND
FINANCE
Application and Scope of CDD Regulations in
Practice
The Court of Appeal of Den Bosch has rendered a judgment in a
dispute between Van Lanschot Bankiers N.V. (‘Van Lanschot’) and JEM
Horeca (‘JEM’) concerning the termination of the banking
relationship on the basis of integrity risks. In its considerations
the Court of Appeal clarified the background and objective of
(public-law) financial supervisory legislation and explains subtly
how these regulations should be applied by banks in practice. Has
the smoke concerning this topic finally been lifted with this
judgment?
read on..
CORPORATE
One-Tier Board Enacted as of 1 January 2012
On 1 January 2012 we will see the introduction of the one-tier
management model, which makes it possible to have executive and
non-executive directors in one management body. This system, which
is common in Anglo-American countries, can be used as an
alternative to the Dutch common model of separate management
supervised by supervisory directors. The government hopes that this
change will make the Netherlands more attractive for international
parties.
read on..
EMPLOYMENT
Breach of Duty to Provide Employees with Information in
a Transfer of Undertaking
In 2009 the Dutch Supreme Court rendered the Bos/Pax judgment, in
which the scope of the obligation to provide information to
employees in a transfer of undertaking was discussed. How did this
case continue after the Supreme Court had deferred it to the Court
of Appeal?
read on..
Right to Information
An employer has to provide sound reasons in a decision subject to
consent. In addition, under Section 31 of the Dutch Works Councils
Act, the Works Council has a right to information. How much
information does the employer have to provide? Does this right to
information also extend to the sharing of business-sensitive
information of another legal entity?
read on..
Agreeing a Non-Competition Clause In Writing
A non-competition clause must be agreed in writing and included in
the employment contract. Does this rule also apply if the first
employment contract of an employee contains a non-competition
clause, and this contract is extended on the same conditions after
the contract term has expired?
read on..
INTELLECTUAL
PROPERTY
Cozzmoss: Damages for Publication of an Article on a
Website
Cozzmoss initiates legal proceedings against the posting of
articles from newspapers or magazines by people on their own
websites without permission. Several proceedings have already been
conducted, and it is mostly the amount of damages that is
interesting. In this article we will give you an overview of the
state of affairs.
read on..
Trip to New York, now from……….
Does stating the entry-level prices in an advertisement comply with
the information requirements set by the Unfair Commercial Practices
Directive regarding an ‘invitation to purchase’? This is one of the
questions examined by the European Court of Justice in the case
between the Swedish Konsumentombudsman and the travel
agency Ving.
read on..
European Court of Justice Rules on Advertising for
Prescription Drugs
Pursuant to European legislation pharmaceutical companies are not
allowed to advertise for prescription drugs. But does this
prohibition also apply to factual information offered by a
pharmaceutical company on its website? This question was recently
answered by the European Court of Justice.
read on..
PERSONAL DATA
PRIVACY
New Dutch cookie law requires prior consent from
internet users
Is the Dutch legislator becoming a cookie-monster? Last week (on 21
June 2011), Dutch Parliament passed a bill which requires consent
for the placement of cookies and assumes that the use of cookies
for ‘behavioural advertising’ is a processing of personal data.
Will the industry be able to bite back?
read on..
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