Expanding its ability to detect and pursue security incidents, the Federal Trade Commission (FTC) finalized an amendment to the Safeguards Rule[1] on October 27, 2023 requiring non-banking financial institutions to report certain data breaches. By extending this data privacy protection to customers of all financial institutions, this amendment demands fintech firms across the country revisit their cybersecurity and incident-response policies. I ...
At any hour, your company is vulnerable to cybercriminals aiming to cripple your operations. The repercussions are vast, from productivity loss to compromising sensitive information, which erodes trust with customers and employees alike. The financial toll and reputational harm can be severe and lasting. Whether facing a widespread assault or a precise strike, these attacks are escalating in frequency, sophistication and financial impact ...
The use of AI systems and chatbots by employees and employers is gaining more and more foothold at workplaces. It is relevant for the employer to be aware of the regulation applicable to employees' use of AI systems and chatbots and to ensure that the employer's own use of AI systems takes place within the applicable regulation in terms of employment and personal data law. Use of AI Systems by Employees AI systems and chatbots are useful tools for employees ...
Previous European data protection laws only covered controllers of personal data. From 2018 processors can be fined and pay compensation for data breaches in their own right. Is this happening, and what can we learn about managing data processing risks? Looking at GDPR enforcement in the UK and EU, you would be forgiven for thinking that new liabilities for data processors since the advent of the General Data Protection Regulation in 2018 has not made much difference ...
As digital platforms continue to dominate, the gig economy provides jobs that enable flexible working. This article seeks to explore the recent state of play regarding gig-economy working in the UK, and how employers can comply with their obligations. What is the gig-economy? The gig-economy reflects the labour market in which typically short-term jobs are carried out over digital platforms by individuals who can fit such work around their other commitments ...
Russian State Labour Inspectorate (GIT): An employer may impose disciplinary sanction on an employee for disclosing a colleague's salary GIT received a question whether an employer can punish an employee who, ****without the consent**** of a colleague, ****disclosed their salary**** ...
The regulations that are starting to emerge in various different jurisdictions pose major challenges, not just for users, but also for developers of AI systems. In this article we will look at the main differences and the areas of common ground. Artificial intelligence has revolutionized many aspects of our lives, from healthcare to national security. However, its use has also raised concerns in connection with privacy, discrimination and security ...
The recent decision to permit 45 million competition law claimants to claim against Meta has thrown fresh focus on the real risks posed to organisations after data breaches. Here, we discuss recent trends and make some predictions. Following the news that up to 45 million claimants under competition law have been given the go-ahead for a £2bn class action against Meta, many are thinking about what the real risk of class action litigation is after a mass data breach ...
Amazon France Logistics has been fined €32m in France for being “grossly negligent” about European data protection law when it comes to monitoring its workers. How can companies do the right thing by workers and by regulators? Employers have increasingly sophisticated tools to help them monitor their workers. Amazon’s substantial recent fine from French data protection regulators shows that they don’t always get it right ...
One of the main features of the cryptocurrency market is how unpredictable it is - the value of cryptocurrencies can rise and fall sharply, depending on how investors feel about them or the social media hype around them at the time ...
From chatbots to ChatGPT, AI is transforming the way that businesses interact with consumers. Businesses should be mindful of the risks surrounding the use of AI when interacting with consumers. In this article, we offer practical guidance for businesses seeking to utilise this fast-emerging technology. AI and consumer law: the pros and the cons AI and consumer protection is not a one-sided story ...
With climate change continuing to be a topic of concern across the international community, Canada has recently taken another step to support the development of renewable energies and technologies. In the 2023 budget tabled on March 28, 2023, the Canadian federal government unveiled new tax incentives aimed at supporting investments in both renewable energies and certain clean technologies. These incentives can be grouped into five main Investment Tax Credits (ITCs) ...
SyCipLaw has authored the Philippine chapter of Lexology In-Depth: Artificial Intelligence Law. The Lexology guide seeks to provide a global overview of the fast-evolving state of law and practice surrounding artificial intelligence (AI) systems and applications. With a focus on recent developments and their practical implications, the guide examines key issues including legislative initiatives, government policy, AI risk management principles and standards, and enforcement actions ...
The transformational power of AI is set to redefine the modus operandi across various sectors, including healthcare. The life sciences sector in particular are already realising the benefits of AI. Their shared experiences offer other health organisations the opportunity to pre-empt some of the challenges associated with AI. The rapid and profound impacts emerging from AI advancements are truly staggering, leaving no room for delay ...
We all know how important advertising is in the business world. Traders use advertisements as marketing tools to inform customers and consumers about their products. With the rise of technology and social media, advertising is now taking diverse forms. Companies are increasingly turning to a more powerful tool, the ‘influencer’, to advertise their products. This phenomenon is also evident locally ...
In this follow up article we will explore how the crypto sphere has advanced since the previous article, revisit some of the predictions we made and identify key legal updates in the crypto market and what those updates mean for the insolvency world ...
The use of cryptocurrency or crypto assets in employee incentive arrangements is a relatively new and evolving area and it is therefore important to carefully consider the potential advantages and disadvantages of their use in incentive arrangements. Different types of crypto assets Crypto assets can take many forms including digital currency such as Bitcoin and Litecoin and NFTs (non-fungible tokens) such as art NFTs and collectible real estate NFTs ...
Last week, Shoosmiths hosted an event with leading industry body, techUK, labelled ‘Redefining web 3.0: Emerging economies, metaverse technologies and the new age of the internet’. During this event we heard directly from representatives from the sector, who delve into the business potential created by the merging of web 3.0 and Metaverse technologies ...
In the latest contribution to the debate on the UK's approach to AI regulation, the Lords Communications and Digital Committee has published a report urging the government to adopt a 'more positive' vision for AI, rather than concentrating on its "far-off and improbable" risks ...
