On March 2, 2021, Virginia Governor Ralph Northam signed the Consumer Data Protection Act (CDPA or law) into law. This makes Virginia the second state, behind California, to adopt a comprehensive consumer data privacy law. Like the California Privacy Rights Act (CPRA) and EU General Data Protection Regulation (GDPR), the CDPA creates a number of privacy obligations for businesses and gives Virginia consumers more control over their personal data. The CDPA takes effect on Jan ...
In an effort to keep our readers up-to-date on the latest developments in cybersecurity law and regulation, we are pleased to share an overview of our team’s recent blog posts. We periodically send updates compiling links to our most recent blog posts and news. If you do not wish to receive email updates, please email Marketing to be removed from the distribution list ...
A NEW PATHWAY From Uber to Jumia and even older technology (tech) companies like Etranzact and Chams Plc, it is arguable that Initial Public Offerings (“IPOs”) have not offered great returns for tech companies in Nigeria and across the globe[1]. Investors are speculating on whether the great tech bubble is about to burst because, considering the cost of IPOs, tech companies have to scrutinise the expected returns when contemplating an IPO ...
Tech Companies and Fund Raising: The New Way of Going Public (Part 2) In the second part of our article, we focus on Spotify, a digital music service that utilised a direct listing to become a public company, the key steps they took that differed from a traditional IPO, and how the NSE can modify its current regulatory framework to include direct listings. Case Study: Spotify Technology S ...
In 2020, telehealth went from promising ancillary issue to center stage in the healthcare industry. Regulators and law enforcement took notice. With enforcers’ attention now squarely on telehealth fraud and abuse, telehealth providers and companies are poised to be among the main targets for civil and criminal enforcement in the coming years. Webinar Recording Key Takeaways Telehealth is a key enforcement priority for federal and state enforcement agencies, including the U ...
The recent CIS v IBM decision touches on two topical issues in IT disputes: maintenance and replacement of legacy systems, and use of agile implementation methodologies. It is also a useful reminder of some important basics regarding the management of troubled IT projects. The case and the issues The claimant (Co-op) was the insurance business of the Co-op group ...
Earlier this month, Elon Musk revealed that Tesla, the electric car company run by the world's richest person, had bought $1.5bn (£1.1bn) in bitcoin and might soon also accept payment in the popular but controversial cryptocurrency. News of Tesla’s investment boosted bitcoin, and while lately it dropped from its record high, it appears to be rebounding. Cryptocurrency investment continues to move into the mainstream as global interest rates remain at record lows ...
Regarding the Public Tender Process for the supply of energy and power to distribution companies that will take place this year (“2021/01 Tender Process”), please consider the following: On December 21, 2020, the National Energy Commission (CNE) approved the definitive Tender Rules for this process (the "Rules"), by means of the Exempt Resolution No. 478 ...
This bulletin is on recent Philippine legal developments in data privacy, fintech and digital banks. PRIVACY UPDATE Caring about Sharing: New Rules on Data Sharing Agreements On December 23, 2020, the Philippine data privacy regulator, the National Privacy Commission (NPC) issued NPC Circular No. 2020-03 on data sharing agreements (2020 DSA Circular).1 The circular supersedes NPC Circular No ...
The objective of open banking is to have a payments and markets infrastructure which provides customers with the ability to review all their banking and financial information seamlessly. Open banking will lead to a situation where regardless of how many accounts and financial products a customer has with multiple institutions, he can manage them from a centralised location without having to check out from one system to another ...
The FSI has published the BIS’s research paper titled “Fintech regulation: how to achieve a level playing field” in February 2021 (the “Paper”). The Paper explores how regulation should evolve to encourage fair competition between traditional banks and new fintech and big tech players ...
In the Official Gazette No. 27, volume No. 426, dated February 10th, 2020, was published Decree No. 463, which contains the Law of Electronic Commerce – hereinafter “LCE” -, which has the purpose of establishing a legal framework for electronic relations of a commercial, contractual nature, carried out by digital, electronic, or technologically equivalent means. As stipulated in Decree No ...
On 12 January 2021, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency (“MOA”) issued Regulation No.1 of 2021 on Electronic Certificates (“MOA Reg. 1/2021”). This new regulation is intended to optimize the use of information and communication technology by implementing electronic-based land services and thus improve public services and the ease of doing business. Under MOA Reg ...
With the main goal of the EU being to cut CO2 emissions in order to become carbon neutral by 2050, offshore represents valuable “available space” for the development of clean energy projects. While in some cases offshore is already a crowded place, other offshore locations are still free of significant energy infrastructure. Therefore, planning ahead is more important than ever ...
With businesses now building back up following the pandemic, focus has moved onto ensuring organisations are as efficient, effective and resilient as possible. Key to this is ensuring that managers are fully equipped to handle workplace issues. The session focuses on dealing with DSARS and other practical data protection issues for employers. The key takeaway points are set out below: Brexit and Data Protection The Data Protection Act 2018 continues to apply in the UK ...
On February 9, the Commission for the Financial Market ("CMF") published a proposal for the bill known as “Fintech Law”, the new regulation that intends to establish a legal framework applicable to Fintech companies in Chile, which until now have been characterized by operating without a specific regulation. The CMF’s proposal establishes a regulatory perimeter for certain types of Fintech companies and, also, in turn places them under the CMF's oversight ...
February marks the start of the second month after Brexit materializing. The Member States have finally understood that the United Kingdom (UK) is no longer in the Europen Union (EU) so that the fairy-tale of the Single Market that has lasted for decades is now over. Although many businesses resolved various legal or regulatory issues before 1st January, new challenges inevitably keep arising now, when Brexit is a reality ...
The Supreme Court has issued Supreme Court Administrative Matter No. 20-12-01-SC (Re: Proposed Guidelines on the Conduct of Videoconferencing) dated December 9, 20201 (Court Videoconferencing Guidelines) to ensure that hearings via videoconferencing are conducted in an orderly manner and that the constitutional rights of the accused are protected ...
In recent years, with the continuous improvement of science and technology standards in China, the country’s cryptography technical capabilities have also begun to enter the global forefront. In turn, China has promulgated various policies and measures to fulfill its non-proliferation obligations, which have promoted the gradual implementation of control measures for the export of cryptographic technologies ...
The Minister of Communication and Informatics (“MOCI”) has finally issued MOCI Regulation No. 5 of 2020 on Electronic System Organizers (“ESO”) in the Private Sector (“MOCI Regulation 5/2020”) that serves as the new implementing regulation of Government Regulation No ...
The de novo medical device process is a little-used but potentially valuable means of securing approval for your medical device. The pathway was established in 1997 subject to the Federal Food Drug & Cosmetic Act, Section 513 (f) (2). It was designed to employ a risk-based strategy for novel devices that have not yet been classified. Basically, it establishes a new device type including classification, regulation, appropriate controls and product code ...
Early last year the Prime Minister dropped the “E-bomb” on British motorists, announcing a ban on cars powered wholly by petrol and diesel from 2030, and on the sale of new hybrid vehicles with the capability to drive a significant distance with zero emissions (such as plug-in or full hybrids) from 2035. Since then, the COVID-19 pandemic has impacted the world in an unprecedented manner ...
In December 2020, the National Institute of Industrial Property (INPI) published on its portal the Examination Guidelines for Inventions Implemented by Computer Program ...
On January 25, 2021, the German federal Cabinet introduced the draft for the new Cyber Security Act (“IT Security Act 2.0”) into the legislative process ( Draft of a Second Act to Increase the Security of Information Technology Systems, printed matter 19/26106 [draft of a second law to increase the security of information technology systems, document 19/26106] ). The new German Cyber Security Act is intended to replace the old German Cyber Security Act of July 2015 ...
