Day: July 24, 2021

On 23 July, Yahoo Finance reported that Deutsche Bank AG is accused of turning a blind eye to a years-long Ponzi scheme that involved fraudulent investments in Florida.  It is being sued by liquidators of 2 now-bankrupt Cayman Islands investment funds sued the bank in New York and Florida.  It is alleged that Deutsche Bank maintained accounts for entities involved in the scheme despite repeated red flags and SEC sanctions against them, and it failed to enforce its own rules to prevent money laundering. 

https://finance.yahoo.com/news/deutsche-bank-enabled-massive-u-115237119.html

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

On 21 July, CMS Law published a further update on the situation following the Schrems II decision of the European Court of Justice on cross-border data transfers.  Since the publication of the judgment, a large number of authorities have expressed their opinions and recommendations on the CJEU ruling.  The Update documents these comments in order to provide companies with assistance in implementing the ruling. Of particular importance are the recommendations of the European Data Protection Board (EDPB).  CMS also provides a link to receive further updates.

https://www.cms-lawnow.com/ealerts/2021/07/schrems-ii-reactions-to-the-judgement-and-the-supervisory-authorities-recommendations-update-27?cc_lang=en

https://www.osborneclarke.com/insights/cross-border-data-transfers-whats-the-state-of-play/

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y