The UK government’s 2022 Policy Paper on AI Regulation made no specific reference to generative AI models such as ChatGPT, the chatbot that has been taking the world by storm. Considering the speed at which such AI models are developing, however, and the interest they are attracting, the government may look to consider regulating them more explicitly. In such case, it is unclear whether the government will stick to the principles set out by Liz Truss’s administration ...
In this JD Supra exclusive, Raspé shares his predictions for 2023, his perspectives on global legal practice, and things to consider when choosing a global legal services network. Herman Raspé is the current Chair of World Services Group, a premier global multidisciplinary professional services network composed of independent law, accounting, and investment banking firms ...
Legaltech news By Isha Marathe, Legal Tech Reporter February 01, 2023 While more in-house attorneys and general counsel depend on legal technology, traditional procurement processes, and an abundance of tools, is slowing down adoption, according to the Legal 500 Global Edition of GC: In-House Tech Survey 2023 ...
Canadian Lawyer Magazine By Lucy Saddleton 03 Feb 2023 In-house counsel are demanding that their external law firm partners are using the latest technology, with 92% saying it is either very or somewhat important in a recent survey providing global insights on trending legal technologies and how in-house counsel leaders are adopting, integrating, and utilizing technology ...
Australasian Lawyer By Lucy Saddleton 04 Feb 2023 In-house counsel are demanding that their external law firm partners are using the latest technology, with 92% saying it is either very or somewhat important in a recent survey providing global insights on trending legal technologies and how in-house counsel leaders are adopting, integrating, and utilizing technology ...
The enactment of Law No. 4 of 2023 on the Development and Reinforcement of the Financial Sector (“the P2SK Law”) has provided fresh air for technological innovation in financial services. At the same time, the P2SK Law also protects consumers and strengthens the financial sector amid rapid digital development ...
The Ministry of Immigration and Population of the Republic of the Union of Myanmar has issued a notice that updates the application process to extend eBusiness Visas for foreigners working for companies or engaging in business in Myanmar. All such applications must be submitted in the name of a company that is duly incorporated and registered at the Directorate of Investment and Company Administration (“DICA”) and must have the signature of the director of the registered company ...
However, Fintech is actually just a new term for an old concept that dates back to ancient times. A case in point is the invention of paper in China in the 7th century, a major technological development that paved the way for paper currency, and eventually fiat currency. The development of the payment card systems in the 1950s (e.g ...
When one instructs a painter to draw a portrait (no matter how detailed the instructions may be) the painter will always have discretion in executing the final product. Likewise, in investment funds, the investment manager is instructed to invest according to various rules and timeframes which are detailed in the investment strategy as approved by the competent financial regulator, but there will still remain investment discretion on how the investment strategy is executed ...
The impact that Artificial Intelligence (“AI”) is making on investment services has been the subject of a recent publication, dated 1st February 2023, which was issued by the European Securities and Markets Authority (“ESMA”) ...
SEC Commissioner Hester Peirce (“Peirce”) recently delivered an address on digital assets regulation at the Digital Assets at Duke Conference. The two-day meeting brought together regulators, academics, experts, policymakers, and other key stakeholders in the industry to discuss and debate the future of digital assets and distributed ledger technology (“DLT”) ...
1. Background and Rationale The Thai financial market has been revolutionized by rapid changes in technology, particularly, with the advent of distributed ledger technology (“DLT”) and digital assets in recent years. This has led to a surge of interest from traditional investors and corporate entities, both small and large, eager to participate in this dynamic market. These technologies have been driving financial innovation and progress ...
Your biometric data tells the tale of who you are in intricate detail. Often, your biometric data is used to verify your identity at work or school. Currently, Illinois has the most comprehensive biometric privacy law in the country with the Illinois Biometric Information Privacy Act. Maryland and Mississippi look to join Illinois in protecting their citizens’ biometric data ...
With cybersecurity risks increasing and evolving moving into 2023, the federal government is taking steps to help secure our cyber infrastructure. The recent passing of the 2023 omnibus spending agreement included additional funds for a variety of federal agencies in order to strengthen our cybersecurity apparatus. The Cybersecurity and Infrastructure Agency (“CISA”) received $1.3 billion for its cybersecurity programs. This is a $230 million increase over last year ...
The U.S. does not have a federal data privacy law. In the absence of an all-encompassing data privacy law, the U.S. has a myriad of individual state privacy laws. The significant state data privacy laws that are often used as models are the California Privacy Rights Act (which amends that California Consumer Privacy Act), the Virginia Consumer Data Privacy Act, the Colorado Privacy Act, and the Illinois Biometric Information Privacy Act ...
On January 20, 2023, Governor Glenn Youngkin announced that Amazon Web Services (“AWS”) plans to invest $35 billion by 2040 to establish multiple data center campuses across Virginia, pending legislative approval. Numerous localities in the Commonwealth are under consideration, and although none have been selected, residents in Northern Virginia have voiced concerns ...
Canadian Lawyer By Tim Wilbur Cecilia Barnes knew from an early age she wanted to be in business. She entered law school so she could work with entrepreneurs and business executives. When Barnes looked for opportunities after graduating, she focused on working in-house. “I thought, I've taken all of these courses in business and trademark and copyright. So, any company is going to be so excited to have me ...
FinTech is important to the financial services sector in both India and the UK. A trade agreement could facilitate FinTech growth and deepen trade between the two countries. Kiran Desai, Head of Shoosmiths Brussels is joined by colleague Prakash Kerai to host Prashanth Ramdas of Khaitan & Co ...
On 16 January 2023, the Financial Market Commission ("CMF") published in its web site and invited to submit comments to a regulatory proposal involving the issuance of two rules: (i) the general rule that will regulate the requirements and procedures for registration in the Registry of Financial Services Providers (the "RPSF") and (ii) the general rule that will regulate the authorization to provide investment advisory services by persons registered in the RPSF (the "Proposed Rule") ...
In early 2022, the Autorité des marchés financiers (the AMF) conducted specific consultations on financial products offered on the Internet. Further to these consultations, the AMF published explanations on the Regulation respecting Alternative Distribution Methods (the RADM) in late December 2022 ...
