The date of application of the General Data Protection Regulation (GDPR) in May 2018 and the threat of far tougher fines being meted out for data protection violations have prompted uncertainty among companies as they find themselves confronted with cartel cases, official compliance-related investigations or State aid controls. This uncertainty apparently reached such a pitch of late that the Data Protection Officers of the European Commission, the European Anti-Fraud Office (OLAF), the European Investment Bank and the European Investment Fund approached the EDPS with the request to clarify the matter. The EDPS complied with this request by letter of 22 October 2018.

By judgment of 12 July 2018, the General Court of the European Union took a position for the first time on the liability of financial and private equity investors for antitrust violations by their portfolio companies. In the view of the Court, the European Commission can also impose joint and several fines on financial investors if they have exerted a decisive influence over the market conduct of their portfolio companies.

In a press release issued on 25 October 2018, the Frankfurt am Main Higher Regional Court announced that it had confirmed fines imposed on a major international bank’s anti-money laundering officer. In particular, the Higher Regional Court emphasized the statutory rights and duties of an anti-money laundering officer.

German companies’ business with Russia continues to grow. At the same time, however, the legal hurdles for such business are increasing as well. A complex regulatory environment exists in which some provisions overlap or even conflict with each other. Since 2014, the European Union has been imposing sanctions due to Russia’s annexation of the Crimea, and these sanctions were renewed for a further six months in December 2018. The US recently tightened its sanctions again, and these may also impact German companies as they have extraterritorial effect. In turn, Russia has reacted with counter-measures that may likewise have a major impact on German companies.