A recent significant enforcement action brought by the U.S. Securities and Exchange Commission against Blackbaud Inc. highlights the importance of public companies maintaining disclosure controls and procedures relating to cybersecurity incidents ...
In a recent appeal by a pharmacy, Doorstep Dispensaree Limited (“Doorstep”), against a Monetary Penalty Notice and an Enforcement Notice issued against it by the Information Commissioner’s Office (the “ICO”), Doorstep was partially successful, specifically against the level of fine imposed by the ICO under the Monetary Penalty Notice ...
To boost the economy post-Brexit the government is committed to establishing up to 10 freeports across the UK. In our latest freeport bitesize article, we look at some of the planning implications of which bidders and bid participants should be aware. Back in August 2019 the UK Government announced plans to create ten new freeports that would be free of “unnecessary checks and paperwork, and include customs and tax benefits” ...
Following the recently reported hack of the US Securities and Exchange Commission (SEC)’s social media account yesterday (10 January 2024), the SEC formally announced that it had approved the launch of 11 Bitcoin ETFs in the US. As the announcement states, these approvals are not an endorsement of cryptocurrency as an “investment” or of any of the issuers of the ETFs themselves ...
In an earlier post, we started discussing the IRS’ “John Doe” summons to Coinbase, a virtual currency exchange, to obtain information about every Coinbase user, who, at any time during the period of January 1, 2013 through December 31, 2015, conducted transactions in a convertible virtual currency as defined in IRS Notice 2014-21. One such user filed a motion to intervene in the proceeding and to quash the IRS’ summons ...
Dispute is heating up over IRS’s attempts to get personal information about users of Bitcoin and other virtual currencies. Last November, the Internal Revenue Service (“IRS”) filed a petition in the United States District Court for the Northern District of California. It sought the court’s permission to serve a “John Doe” summons on Coinbase, Inc., a virtual currency exchanger in San Francisco ...
Dispute is heating up over IRS’s attempts to get personal information about users of Bitcoin and other virtual currencies. Last November, the Internal Revenue Service (“IRS”) filed a petition in the United States District Court for the Northern District of California. It sought the court’s permission to serve a “John Doe” summons on Coinbase, Inc., a virtual currency exchanger in San Francisco ...
The era of cryptocurrencies has come: whilst they were initially used as a specific means of payment and as a source of investments other functions are now being explored, such as the possibility of cryptocurrencies being directly contributed to a company in the context of its incorporation ...
On Nov. 19, 2018, the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce issued an Advance Notice of Proposed Rulemaking[1] requesting public comment on criteria for identifying emerging technologies essential to U.S. national security that would be subject to increased export controls ...
On January 19, 2019, federal Magistrate Judge Kandis Westmore of the Northern District of California denied the Government’s application for a search warrant that sought: “all digital devices” present at a California residence; (Order at 3), and “any individual present at the time of the search to press a finger (including thumb) or utilize other biometric features…for the purposes of unlocking the digital devices found in order to permit a search of
The UK data regulator, the Information Commissioner’s Office (“ICO”), has released a statement warning organisations to assess the public risks of using emotion analysis technologies, with those failing to do so risking investigation and enforcement action ...
On May 25, deputies Karim Bianchi, Boris Barrera, Jaime Naranjo, Alexis Sepúlveda and Pedro Velásquez presented a bill That seeks to to assign the Chilean Competition Court ( Tribunal for the Defense of Free Competition - " TDLC ") the authority to Set maximum consumer prices for food and housing repair related-products, in the event of a constitutional state of exception ...
In the context of the current sanitary alert, several bills of law have been filed with Congress, seeking to regulate certain aspects associated to states of emergency and sanitary crises in particular.To such ends, the bills that stand out are:I. Bill prohibiting and penalizing price increases in the face of epidemics or pandemics:On Tuesday 17 March 2020, a bill was filed with the Lower Chamber (Newsletter 13 ...
On May 07th, 2024, the Chilean President of the Republic sent to the Chamber of Deputies a bill (the “bill”) regarding the regulation of Artificial Intelligence (“AI”) systems, being the result of the work carried out on the former bill, the National AI Policy, comparative experience, and several international recommendations regarding AI ethics ...
Background On November 23, 2022, the President of the Chilean Republic submitted to the National Congress a bill amending the Mining Code, Law No. 21,420 and other legal provisions related to the mining sector (the "Bill"). Its purpose is to address and resolve the inconsistencies and gaps contained in Law No. 21,420, as well as to adjust and improve several provisions of the Mining Code, the Constitutional Organic Law on Mining Concessions and Decree Law No ...
As part of the preventive constitutionality control, the Constitutional Court ("TC") resolved that the provisions of the Bill that systematizes Economic Crimes and Attempts against the Environment (the "Bill"), that have the character of constitutional organic law, conform to the Constitution. Thus, for the Bill to become law, it only remains for the President of the Republic to promulgate it, and then proceed with its publication in the Official Gazette ...
On April 26th, 2022, the Senate unanimously approved in particular (first constitutional procedure) the Bill that establishes a Framework Law on Cybersecurity and Critical Information Infrastructure. As a result, the legislative proposal passed to the second constitutional procedure waiting to be discussed by the Chamber of Deputies ...
In the first week of September 2020, the House of Representative passed the Bill on Stamp Duty and now it is waiting for approval by a plenary meeting of the House. The Bill is expected come into effect on 1 January 2021 given the time needed to issue the implementing regulation and for public awareness. The Bill will only recognize a single stamp duty, Rp10,000 unlike the current law which recognizes two stamp duties (Rp3,000 and Rp6,000) ...
On Monday, April 1st, 2024, the Chilean Government introduced in the Chamber of Deputies a bill which aims, on one hand, to establish regulations to facilitate and promote the transfer of technology and knowledge and, on the other, to enable and stimulate the creation and development of science and technology-based companies (“EBCT”) from higher education institutions ...
The government recently announced that a bill will be submitted to Congress to modify the Chilean Data Privacy Law N° 19,628 (“DPL”). In connection with the future bill (yet to be presented before Congress), the Ministry of Finance sent to several members of Congress a set of informal minutes outlining the structure and core aspects of the bill.The following is a summary of the minutes, and an initial legal analysis prepared by Carey ...
On September 5th, 2023, the Executive submitted a new bill of law to amend Law No. 19,496, on the Protection of Consumers' Rights ("CPL"), to improve the protection of the rights of consumers in their individual interests, by strengthening the National Consumer Service ("SERNAC") - Bulletin No. 16,271-03 (hereinafter, the "Bill"). The Bill is known as "SERNAC Te Protege" (SERNAC Protects You) because it intends to grant SERNAC sanctioning powers ...
On July 10th, 2023, the Chamber of Deputies approved in its Second Constitutional Procedure the bill of law that, among other matters, aims to recognize Internet access as a Public Telecommunications Service (bulletin No. 11,632-15) (the "Bill"), through various amendments to Law No. 18,168, the General Telecommunications Law ("GTL"). As a result of the abovementioned approval, the Bill has been returned to its chamber of origin (i.e ...
On June 2nd, 2014, President Michelle Bachelet entered a bill into Congress which seeks to modify Law N° 19.496 on the Protection of the Rights of Consumers (“CPA”). The message of the bill recognizes that the tools provided by the current legislation to address violations to the rights of consumers are not sufficiently efficient or dissuasive: in several cases it is less expensive for providers to pay a fine for breach of the CPA, than to comply with such regulation ...
On June 7, 2023, the Minister of Finance of Quebec tabled and presented Bill 30 before the National Assembly, an omnibus bill entitled An Act to amend various provisions mainly with respect to the financial sector (hereinafter the ?Bill?). The Bill includes certain amendments to the provisions of the Insurers Act (?IA?) and the Act respecting the distribution of financial products and services (?DA?) ...
