When the Supreme Court in 2020 issued its decision in Liu v. SEC, placing limits upon the Securities and Exchange Commission's ability to obtain disgorgement, many observers believed that the decision would significantly diminish the SEC's capability to seek and obtain significant disgorgement recoveries in civil enforcement actions alleging violations of the securities laws ...
What is changing with how prudential regulators view fintech partnerships? How is this affecting financial institutions TPRM programs? Prudential regulators appear to be acknowledging the role that fintech partnerships have in the marketplace, both to expand banking services to previous unbanked/underbanked populations, and to allow smaller, regional banks to develop new markets for their services ...
This pilot is a first-of-its-kind use of distributed ledger (Web3) SLC technology and is expected to deliver reduced operational costs and improved risk management for lenders. Based on natural language contract terms developed by SVW and converted to SLCs using Hunit’s AI-powered tools, MMB’s clients will benefit from simplified processes, streamlined monitoring, and improved contract fulfilment ...
Last summer the Supreme Court overturned Roe v. Wade, the landmark ruling that established the constitutional right to abortion. On August 25, 2022, Texas’ Human Life Protection Act of 2021 (“HLPA” or the “Act”), colloquially called a “trigger-law,” went into effect prohibiting abortion in the state. Since then, Texas physicians have expressed concern regarding unanswered questions about how the new law affects the medical practice ...
In May, the Supreme Court of the United States handed down its decision in Amgen Inc. v. Sanofi, which addressed the statutory enablement requirement for patents. The decision is consistent with ongoing efforts to strike a balance between innovation and competition, while preventing the extension of monopolies beyond the invention disclosure ...
On June 23, 2023, major amendments to section 45 of the Competition Act1 (the ?Act?) are set to come into force. Adopted in 2022 by the Parliament of Canada, these amendments are primarily designed to harmonize Canadian non-competition law with legislation in various other countries, particularly the U.S., which restricts certain business practices regarded as harmful to workers ...
International Women's Day (IWD) is celebrated each year on 8 march to mark the progress made towards gender equality and what still needs to be done. Several months on, we reflect on learnings from IWD and the importance of continuing the conversation. The first IWD was celebrated in 1911 and it has since grown to become a global movement that is celebrated in many different ways ...
The automotive industry has launched a new LGBTQ+ movement with an aim to provide a safer space for LGBTQ+ people within the industry and drive change within the sector. The movement, named Driving Pride, is focusing on making the automotive sector a more inclusive and supportive industry for LGBTQ+ workers. Major automotive brands including Ford and Jaguar Land Rover have signed up to the movement in a bid to help promote greater diversity and inclusion within their organisations ...
Environmental, Social and Governance (ESG) is at the forefront of everybody’s considerations when looking at property investment, development and management decisions. The Purpose-Built Student Accommodation (PBSA) sector has always been naturally pre-disposed to considering such ESG issues from the sector’s early days ...
It is broadly accepted that hydrogen has an important part to play in our net zero future -the shape and the extent of that role, however, is widely debated. Low carbon mobility is one of those areas. Most analysis has focussed on the commanding position held by battery electric vehicles (BEVs) in personal mobility, and some of the advantages which hydrogen fuel cells have in heavy duty or return-to-base applications like buses[1], waste vehicles[2] and heavy haulage ...
Most commentary around AI looks at the big picture or the future of work, but in this article we look at some practical data protection implications for businesses that are considering implementing AI systems. 1. Automated Decision-Making There are specific rules in both the EU and UK GDPR (in this article we will refer to both together) covering individuals’ rights when processing involves solely automated decision-making, including profiling ...
Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several legislative updates to address these evolving threats, including a significant change for entities in, and adjacent to, the financial services space ...
June 5, 2023 By: Joshua Robbins and Stephanie Shea While we wait for the U.S. Supreme Court to decide the fate of the Chevron doctrine governing courts’ deference to agencies’ interpretations of law, its recent decision in another case has flown under the radar. In Calcutt, III v. FDIC, 598 U.S ...
Monday, May 29, 2023, marked the official end of the 88th regular session of the Texas Legislature. It was an especially active session for the energy industry, which saw the passage of several bills that, if signed into law by Gov. Greg Abbott, will have significant and long-term impacts on the oil and gas, renewable energy and power sectors in Texas ...
On June 1, 2023, the United States Supreme Court issued an important decision addressing the intent element of the False Claims Act (“FCA”) in United States ex rel. Tracy Schutte v. SuperValu Inc. and United States ex rel. Thomas Proctor v. Safeway, Inc. The FCA imposes liability on anyone who “knowingly” submits a false claim to the federal government and defines “knowingly” to include actual knowledge, deliberate ignorance, or recklessness ...
On June 1, 2023, China's Ministry of Science and Technology ("MOST") officially released the Implementation Rules for the Regulation of Human Genetic Resources Administration ("Implementation Rules"), which will come into effect on July 1, 2023 ...
On 16 March 2023, in Joined Cases C‑438/21P to C‑440/21P, the Court of Justice of the European Union (CJEU) interpreted the concept of a ‘global marketing authorisation’. It held that Article 6(1) of Directive 2001/83 (the Community Code) sets out exhaustively the line extensions for which the marketing authorisations (MAs) will fall under the same global MA as the initial MA ...
On May 30, 2023, National Labor Relations Board (“NLRB”) General Counsel Jennifer Abruzzo took yet another step to ban restrictive covenants in the employment context. In a memo issued to all regional offices, she set forth her view that nearly all non-compete provisions, with very limited exceptions, violate the National Labor Relations Act (“NLRA”) ...
I. INTRODUCTION The post-Soviet states, including the Russian Federation, are mired in corruption across all levels of government-the judiciary, parliament, executive and executive agencies.' Naturally, a "culture of corruption" within government distorts several necessary components that make up the rule of law. Corrupt parliament members will not be responsive to the citizenry ...
On May 30, 2023, the Expert Commission concluded the vote on the preliminary draft of the New Constitution, sending it to the Constitutional Council for discussion. After having reached cross-party agreements on most of the proposed amendments to the first draft, the Expert Commission approved in Plenary Session the text of the preliminary draft, which consists of 14 permanent Chapters, with their respective transitory provisions. The structure of the draft would be the following: Chapter I ...
