IT service provider DATEV experienced a significant data breach in connection with its LODAS payroll accounting system. On January 8, a technical malfunction in the data center meant that trial payroll calculations could not be sent back to the respective clients as planned. The following day, DATEV implemented a temporary solution to ensure the return …
In its ruling of 28 November 2025 (2x W 74/25), the Schleswig-Holstein Higher Regional Court further clarified the limits of the registry court’s powers of review when submitting lists of shareholders in accordance with Sec. 40 subsec. 1 of the German Limited Liability Companies Act (GmbHG). The proceedings were initiated by the submission of a …
Background With the aim of increasing comparability, transparency, and coherence in financial reporting, the International Accounting Standards Board (IASB) published a new standard, IFRS 18 “Presentation and Disclosure in Financial Statements”, on 9 April 2024. IFRS 18 is intended to replace IAS 1 “Presentation of Financial Statements” and introduces a new structure for the presentation …
In its ruling of October 14, 2025, ref. VI ZR 431/24, the Federal Court of Justice made a landmark decision on the admissibility under data protection law of the transfer of so-called positive data by telecommunications companies to SCHUFA. Positive data in this sense refers to master data and contract information without negative payment experiences. …
In its ruling (42 O 14139/24 of November 11, 2025), the Munich I Regional Court decided that the use of song lyrics by the AI language model ChatGPT infringes on the exploitation rights of the authors if the developer of the application does not have a license. The lawsuit was brought by the Society for …
Continue reading “GEMA wins against OPEN AI in dispute over usage rights”
From 9 October 2025, all banks and savings banks will be required to check whether the recipient name and IBAN match for transfers. This recipient verification is intended to prevent incorrect transfers and fraud. Until now, banks have not generally checked whether the recipient name provided matches the name stored with the IBAN for transfers. …
In its ruling of 10 July 2025 (Ref. III ZR 59/24), the Federal Court of Justice (BGH) strengthened consumer protection with regard to the inclusion of general terms and conditions (GTC). According to the ruling, it is not sufficient for a company to simply refer to GTC that are available online in a written contract …
Continue reading “BGH: Reference to GTC available online in paper contracts is invalid”
The Financial Intelligence Unit (FIU) has presented its 2024 annual report. The number of suspicious activity reports has fallen significantly, while the quality of reports and output for law enforcement purposes has increased. What is the FIU, and what does the annual report offer? The FIU is the German central office for financial transaction investigations …
Continue reading “FIU Annual Report 2024 – Suspicious activity reports: fewer, but more targeted”
As of 20 July 2025, the European Commission will permanently discontinue the Online Dispute Resolution (ODR) platform. From that date forward, the platform will no longer be available and access will be deactivated. Background Launched in 2016, the ODR platform was intended to provide consumers and businesses with a simple and centralized means of resolving …
On February 25, 2025, the Higher Regional Court of Frankfurt am Main ruled (Case No. 10 U 18/24) that a bank that does not disburse a customer’s funds for several days due to a suspicious activity report filed under money laundering law is not obliged to reimburse the customer’s legal fees. Background to the case …
Background: Uncertainties of CSRD adjustment Last week, the EU Commission presented its proposals for revising the Corporate Sustainability Reporting Directive and other legal acts (see our previous post for more on this). Since it is unclear at this stage which simplifications will pass through parliament, large companies (according to the German Commercial Code, i.e. HGB) …
Continue reading “Uncertainties of CSRD adjustment: The VSME reporting standard as a way forward?”
In its judgment of January 28, 2025 (Case No. VI ZR 183/22), the 6th Civil Senate of the Federal Court of Justice ruled that the defendant is entitled to non-pecuniary damages in the amount of 500 € under Art. 82 (1) GDPR as the plaintiff had reported the defendant’s personal data to SCHUFA without authorization. …
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