London interbank offered rate (LIBOR) and other interbank offered rates (IBORs) have traditionally been used to set interest rates for various financial products such as loans, bonds and derivatives. The era of using IBORs may be about to come to an end as LIBOR is expected to cease to be published after 2021 and alternative reference rates are being identified and developed for other IBORs by relevant central banks across jurisdictions. As a part of this development the Riksbank has commenced a six-month test period for publishing SWESTR (Swedish krona Short Term Rate) as an alternative reference rate.
In line with many other countries, Sweden is now proposing to introduce pre-transaction approval requirements for transfers of security-sensitive activities. The Swedish Government has put forward the proposal in order to address the risk of unwanted takeovers foreseen as a result of the economic constraints in the context of the Corona virus. The Government has proposed the amendments to enter into force already on 1 January 2021.
On 16 July 2020, the European Court of Justice issued its ruling in Case C-311/18 (“the Schrems II case”), which concerned Facebook’s transfer of personal data from servers in Ireland to servers in the USA.
The corona virus, Covid-19, has been classified as a public health hazard and everyone has a responsibility to prevent the spread of infection. This responsibility lies primarily with the Public Health Agency in Sweden and anyone who is, or suspects to be, infected. In order to limit the spread of the corona virus, the Public Health Agency in Sweden has the right to, among other things, block off a building and it cannot be ruled out that new legislation will be adopted which may affect a landlord's ability to provide premises to tenants. Should such a shutdown occur, or other government measures be taken as a result of new legislation, questions arise on how this would affect commercial lease agreements within the affected buildings. In addition, questions may also arise as to whether landlords may close a building, or tenants demand changed lease conditions, due to the consequences of Covid-19.
In connection with the spread of the corona virus (COVID-19), many employers have communicated internal guidelines on how employees should act in relation to customers, suppliers and visitors. Many employers have also imposed restrictions on business and private travels, imposed quarantine or encouraged employees to work from home. In these situations, certain data protection related issues arise, especially related to the potential processing of personal data regarding health, for which there are specific restrictions in the General Data Protection Regulation (GDPR). Please see below some issues to consider.