A consultation published by the EU Commission on which over-the-counter (OTC) derivatives identifier would best facilitate price transparency closed at the end of last week. While we will need to wait until mid-2024 to hear the Commission’s findings, there are a couple of points of much broader impact and interest to all those interested in operating a multinational business, market structure, technology, digital assets, regulation, cross-border rule harmonisation and data privacy ...
On January 12, 2024, and in compliance with Law No. 21,521 (the "Fintech Law"), the Financial Market Commission ("CMF") published General Rule No. 502, with the purpose of regulating the registration, authorization, and obligations of financial service providers under the Fintech Law (the "NCG 502"). The main subjects addressed by said norm are as follows: 1 ...
On November 23, 2023, the State Council published theOfficial Reply of the State Council on the Work Plan for Supporting Beijing in Promoting the Construction of a Comprehensive Demonstration Zone for Further Opening up the National Service Sector(the "Reply") ...
Jonathan Smart, head of the mobility sector at Shoosmiths, comments on upcoming trends and developments to expect in 2024 for the sector. The automotive industry is in the midst of a transformative era, marked by technological breakthroughs and shifting consumer preferences. Staying ahead of the curve is crucial for industry insiders. Let's delve into five pivotal trends that are reshaping the landscape of the automotive sector ...
The Federal Communications Commission (FCC), at its open meeting on December 13, 2023, approved new rules under the Telephone Consumer Protection Act (TCPA) regarding texting that will alter the landscape of lead generation practices ...
Following an antitrust investigation, in 2017 the European Commission had fined Google LLC and Alphabet Inc. a record €2.4 billion for abuse of Google’s dominant position. In brief, it found that Google was self-preferencing, by presenting results from its own Google Shopping first upon a so called “Google search”. On appeal to the General Court, the fine was confirmed in 2021 ...
Since its enactment on July 1, 2021, the Florida Telephone Solicitation Act (FTSA) has become a significant pain point for businesses, leading to extensive class action exposure, particularly for those involved in telephonic communications. The FTSA, which initially granted consumers the right to take legal action against unwanted calls and texts, led to an influx of over 500 complaints in its first year ...
The Online Safety Act 2023 implements broad reforms for how many businesses must operate their online services. Here, Matthew MacLachlan explains the action to take now to comply. The Online Safety Act 2023 (‘the Act’) received Royal Assent in October 2023. Although the Act is now law, it will not be enforced by the regulator, Ofcom, until secondary legislation is passed and when Ofcom’s draft codes of practice are finalised ...
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 ...
Jon Bew and Wayne Gibbard, co-heads of the Financial Services Sector at Shoosmiths, comment on upcoming trends and developments to expect in 2024 for the sector. Everyone is feeling it, the rumbling of a technological storm. The immergence of generative AI, RegTech and increased fraud and cyber risk, have swept clouds of uncertainty across the Financial Services Sector… ...
Compliance Will Need Banks to explain “How the AI Systems Work” Delano Magazine Written by: Kangkan Halder Published on 24.12.2023 The growing role of artificial intelligence in processing information for legal documentation and counsel won't eliminate the need for human lawyers or ethical judgments, argue Marc Mouton and Astrid Wagner, partners at Arendt & Medernach ...
Please note the following press release. This press release is available at our homepage. DATAGROUP, advised by Heuking, acquires iT TOTAL AG A team led by Dr. Rainer Herschlein and Benedikt Raisch legally advised DATAGROUP SE on the acquisition of iT TOTAL AG. DATAGROUP thus expands its footprint in southwest Germany and enhances its position with attractive customers and experienced IT professionals ...
On Dec. 13, 2023, in a 4-1 vote, the Federal Communications Commission finalized new rules to close the so-called lead generator robocall and robotexts loophole, marking a significant paradigm shift in lead generation practices. On Dec ...
Shoosmiths’ Technology Sector Group comments on upcoming trends and developments to expect in 2024 for the sector. Artificial Intelligence (AI) Alex Kirkhope – IT & Tech Partner With Collins Dictionary naming “AI” its word of the year, there is no disputing that artificial intelligence has been the world’s most talked about technology of 2023 ...
A podcast series that explores privacy themes within some of the most well-known movies. Whether you are a film buff, a privacy advocate, or simply curious about the intersection of storytelling and privacy, take a journey with us as we explore how the big screen tackles privacy. In this episode, William Moore and Becky Gray discuss the “Lord of the Rings” trilogy ...
Crypto assets are a rapidly evolving and highly innovative sector of the financial industry, offering new opportunities and challenges for businesses, consumers and regulators. Crypto assets are digital representations of value or contractual rights that use cryptography and distributed ledger technology (DLT) to enable peer-to-peer transactions without intermediaries ...
The UK government has recently proposed new regulations to strengthen security measures for data centres operating in the UK. The new regulations aim to protect data centre facilities against potential disruption, including cyber-attacks, physical threats, and extreme weather events ...
Carey Olsen's Steven Rees Davies recognised as leading FinTech and blockchain practitioner Who Who's Legal has featured Steven in its 2023 FinTech and Blockchain Report, which recognises leading FinTech and blockchain legal practitioners from across the world. The report showcases lawyers with extensive experience in the FinTech and blockchain space and those that are well practised in assisting clients with implementing blockchain solutions and providing cyber security advice ...
Norway fully integrated the provisions of PSD2 and the Payment Accounts Directive into its legal system with the entry into force of the new Financial Agreements Act on January 1, 2023. The Norwegian Central Bank made significant strides in its exploration of digital central bank currency, completing the fourth phase of its initiative. This phase focused on testing and validating technical solutions, with findings reported on December 18, 2023, indicating successful outcomes ...
Intellectual property disputes can have staggering financial implications for businesses. One of the most notable examples is the IP battle between Samsung and Apple, which transcended borders and delved into the intricate details of design and utility patents. At the peak of their dispute in the U.S., Apple was awarded over$1 billionin damages in 2012. This case underscores the critical importance of comprehensive IP protection, not just for tech giants but for all enterprises ...
