Amongst the pensions, childcare and other headline financial announcements in this week's Spring Budget, Jeremy Hunt signalled the Government's continued focus on Artificial intelligence (AI) as a targeted growth sector for the UK economy. The Chancellor pledged a £900m investment to support the development of supercomputing capabilities that can underpin the growth of the AI sector in the UK ...
On February 17, 2023, the China Securities Regulatory Commission (CSRC) announced rules related to the registration-based stock issuance system, marking a full transition to the "registration-based" era, 33 years after the establishment of China's capital markets ...
Many construction contracts used in the industry include clauses mandating that any disputes be decided by binding arbitration rather than a jury or bench trial. The standard AIA forms provide the parties with the option of court or arbitration. Trial courts, overwhelmed by a flood of cases and supported with strong caselaw and statutory precedent, regularly enforce arbitration clauses ...
Crypto assets are assets that exist on a blockchain and are represented through a token, where the keys to the token are held in a crypto wallet. The characteristics of different crypto assets vary, depending on the code of the blockchain they operate on ...
Following a wave of recent prosecutions in relation to cash fraudulently obtained through the various Covid-19 support schemes, we consider the criminal and civil ramifications on a legitimate business which has received cash from someone who has been prosecuted and offer some helpful tips to reduce the risk of your business inadvertently laundering the proceeds of crime ...
Regents of the University of Minnesota v. Gilead Sciences, Inc., Appeal No. 21-2168 (Fed. Cir. Mar. 6, 2023) The Federal Circuit’s only precedential patent opinion this week focuses on the written description requirement in the context of an anticipation analysis in the chemical arts. Specifically, it concerns whether disclosures in asserted prior art were sufficient to disclose a claimed molecular structure ...
On January 19, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here and here. The original deadline for comments on the proposed rule was March 20. On March 6, the FTC announced it is extending the deadline to submit comments to April 19. As of March 9, a total of 16,965 comments (8,848 electronically) have been received on the proposed rule ...
In an underground burial temple located within the EU’s southernmost State, one can find a primitive drawing of a spiralling never-ending red tree. Archaeologists opine that the millennia-old Saflieni Hypogeum’s ‘Tree of Life’ was painted to give meaning to death. There is no evidence that the Maltese prehistoric biosphere sustained red spiralling trees ...
Compliance related themes have become a widely discussed and increasingly important topic for corporates around the world. Increased ESG requirements and awareness have made companies rethink what responsible corporate everyday life looks like. At the same time corporate crimes and, for example, cyber-attacks and data breaches are ever increasing and may lead to detrimental consequences on business ...
After a long pause, we are pleased to release a new version of our regulatory Guides. To cover the gap since the last publication, we would like to devote this Guide to an overview of key changes and trends that took place in 2022. 2022 was a challenging year for many companies working on the Russian market as well as for the Russian market and economy as a whole ...
Dear Readers, ALRUD Regulatory practice has prepared a new version of our regulatory Guides. This Guide is devoted to an overview of key changes and trends that took place in 2022. The review was published with the participation of ALRUD experts - Maxim Alekseev, Senior Partner and Head of ALRUD Regulatory practice,Dina Kravchenko, Senior Associate, andBoris Pribylov, Senior Associate. Follow the link below to learn more ...
Published in Corporate Counsel Business Journal March 1, 2023 CCBJ: To start out, please share your background with our readers, including your involvement with the WSG–Legal 500 Survey of In-House Legal Technology. Herman Raspé: I am a partner at Patterson Belknap Webb & Tyler in the capital markets group with a focus principally on equity, but also cross-border debt transactions ...
Cisco has recently released its 2023 Privacy Benchmark Study which explores the impact of data privacy on organisations around the world and why data protection compliance remains mission critical for businesses. The study finds that 95% of companies understand privacy to be a ‘business imperative’, but Harvey Jang, Cisco’s privacy chief, highlights that ‘when it comes to earning and building trust, compliance is not enough’ ...
On the 28th of February 2023, the European Data Protection Board (hereinafter referred to as the “EDPB”) issued its Opinion on the European Commission’s draft adequacy decision regarding the EU-U.S. Data Privacy Framework ...
This is the third alert in a series designed to inform physicians and other health care providers of what to do in the event of a State Medical Board of Ohio (“Board”) investigation, how to potentially avoid an investigation and what to expect during a license disciplinary case ...
In the ‘Proposal for a Regulation laying down harmonised rules on artificial intelligence’ (the “draft EU AI Act”), transparency is regulated by Article 13 and Article 52 thereof. The former applies to systems of Artificial Intelligence (“AI”) which are classified as high-risk and the latter applies to limited-risk AI systems ...
Although admittedly still in its early phase, the metaverse, a virtual world where users can interact with each other and digital objects in a 3D environment, provides exciting new opportunities with a multitude of implications for rights management and the Fintech sector. Facebook’s head-first charge into this new landscape attests to the importance of the metaverse. Last year, the tech giant rebranded its corporate identity to Meta to signal its commitment to the metaverse ...
Blockchain litigation lead, Matt Green will be hosting our latest podcast series, 'In Early - The Crypto Podcast' - Listen to episode 8. This week is about Bitcoin and the Tulip Trading case (recently in the Court of Appeal), in which a claimant seeks to transfer his Bitcoin without a private key, looking for the blockchain’s software developers to transfer them for him ...
Illinois has the strictest biometric privacy law in the country with the Biometric Information Privacy Act (“BIPA”). The BIPA requires employers who collect employees’ biometric data to follow a number of protocols. These protocols include (1) maintaining a written policy about the collection and storage of employee biometric data, (2) providing employees with written notice of that policy, and (3) obtaining informed consent from employees to collect biometric data ...
Nearly 106,000 Americans are currently on waiting lists for donor organs and 17 die each day while waiting. The holy grail for rising to meet this demand and end this suffering will be the ability to “print” the organs, muscles, and tissues from individually grown cells, lowering the need for human donors and the complicated and sometimes unbearable stress that goes along with donor wait lines ...
As a part of a reform of Russian data protection laws, Roskomnadzor adopted new rules for ban or restriction of cross-border transfer of personal data outside of Russia. Roskomnadzor may decide to ban or restrict cross-border transfer of personal data in the following cases: After the consideration of a data controller’s notification on cross-border transfer of personal data; Upon the motion of a competent authority to Roskomnadzor ...
Over the weekend, the EU announced its 10th sanctions package against Russia as a response to the invasion of Ukraine. The timing of the 10th sanctions package coincides with the anniversary for Russian invasion of Ukraine. The measures implemented in the new sanctions package include, inter alia: Additional sanction listings of 121 individuals and entities ...
The Virtual Assets Regulatory Authority (VARA) is a regulatory body established by the government of Dubai to oversee and regulate the virtual assets industry. In line with its mandate, VARA has issued a number of rule books, in particular the Compliance and Risk Management Rulebook (CRM), which sets out the regulatory framework for virtual asset service providers (VASPs) operating in Dubai ...
February 27, 2023 By: Leah Lively and Jack Darrington All employers should be aware of the recent decision by the United States Supreme in Helix Energy Solutions Group Inc. v. Hewitt dealing with exemptions under the Fair Labor Standards Act (“FLSA”). The Hewitt court held that a well-compensated employee paid a daily rate, rather than a fixed weekly or monthly salary, was not exempt from the FLSA and its rules regarding overtime pay ...
