The Bank for International Settlements (BIS) recently discussed possible approaches to establishing an interoperating central bank digital currencies (CBDC) arrangement as the future of cross-border payments. Although not an “official” definition, CBDC generally refers to a new form of digital currency issued by a central bank, denominated in an existing unit of account operating as a store of value and a medium of exchange ...
Tech London Advocates (TLA) Scale Up Group hosted a virtual event with expert speakers, UK Tech on the World Stage, as a partner event for Scaleup Week: The Business Plan held on 18-20 May 2021. A panel of international tech leaders shared insights and opinions regarding UK technology on the world stage, exploring the growth of UK digital businesses and what it takes for them to expand into overseas markets ...
On May 19, 2021, Superintendent Resolution Nº 045-2021-SMV/02 was published, apdopting the Regulation of the Financial Participative Financing Activity and its Management Companies (the “Regulation“), which clarifies the provisions of Emergency Decree Nº 013-2020 – Emergency Decree that Promotes the Financing of MSMEs, Entrepreneurships and Startups ...
The Proposal for a Regulation of the European Parliament and of the Council on markets in cryptoassets, which amends Directive (EU) 2019/1937, ("Regulation on Markets in Crypto-assets", or the "MiCA Regulation" for short) was published on 24 September 20201. The Proposal is part of the Digital Finance Package adopted on the same date by the European Commission as part of the Digital Finance Strategy for the EU financial sector2 ...
In Markit Systems (Pty) Limited v Fulcrum Group (Pty) Limited, the Gauteng Local Division of the High Court held that the customer was within its rights to cancel an agreement it had with a service provider because the parties had not been able to agree on the scope and details to be included in the schedule to the agreement ...
As cryptocurrency and digital assets enter mainstream markets, the business world will have to come to grips with the nature of this new asset class. Silk Road was an Internet black market (known as the Dark Web) notorious for trading contraband, including illicit drugs. These transactions are anonymous, being settled in Bitcoin, a cryptocurrency that bypasses traditional payment modes that allow authorities to identify parties ...
Robo-Advisors (sometimes spelt as Robo-Advisers) are digital investment advisory platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. In this article our Oluwapelumi Omoniyi takes a cursory look at the Securities and Exchange Commission’s new rules on Robo-Advisors and highlights the rationale behind the move to regulate Robo-Advisors ...
The internet may be global, but enforcement is always local—and there are plenty of (expensive) ways to find out the wrong way that you should have been doing something where you might not expect it. A typical example is the legal requirement to appoint an EU data protection representative if you’re not based in the EU, or a UK representative if you’re not based in the UK ...
Recently, several African startups have been making positive impact in their communities leading to a number ofcountriesenactingor planning to establish a Startup Act. In this article, our Oluwapelumi Omoniyi examines the benefits of a Startup legislation and considers if Nigeria’s nascent startup ecosystem needs a startup Act ...
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The European Council has just adopted a new dual-use regulation. The new dual-use regulation is a recast of the current dual-use regulation and aims, among other things, to modernize European export controls in a number of areas. The regulation is directly applicable in all EU Member States and is expected to enter into force in 2021. In this Insight, Plesner's export control specialists outline the main changes resulting from the new dual-use regulation ...
Those of us who grew up in the 70’s or 80’s may recall the excitement of Marty McFly wandering around in the then distant future of October 2015. Yes, 2015. Just over 5 years ago. ‘Where are the flying cars?!?’, you might be forgiven for asking. ‘And why don’t our Hover Boards, you know, hover?’ It's a common theme. George Orwell’s 1984 never happened as predicted and there’s no Big Brother watching us from a screen on the wall ...
The pandemic has, if nothing else, demonstrated how much more needs to be done in the battle against climate change. Despite the worldwide economic slowdown and travel ban resulting from coronavirus, global carbon dioxide emissions reduced by just 6% (approximately 2.3bn tonnes) in 2020. But both governments and industry are responding to the challenge, however, with a renewed sense of urgency and collaborative spirit ...
To support our IHL community, on 21 April we hosted our latest webinar on “Fraud” where we discussed the recent upsurge in fraud due to home working, general awareness of fraudulent activity and what businesses can do to protect themselves. Here are the key takeaways: What types of fraud are you seeing at the moment? The world is a turbulent place right now, and therefore the perfect time for fraud and illicit activity to thrive ...
Background Disqus is an American company offering online public comment sharing services. These services were previously used by various Norwegian online newspapers. The Data Protection Authority has investigated whether Disqus has been sharing information about the users of the comment sections with marketing companies, without the knowledge of neither the users nor the owners of the online newspapers, and in breach of the GDPR ...
Did you know? The Measures for the Supervision and Administration of Online Transactions (“Measures”) released by the PRC State Administration for Market Regulation will come into force on 1 May 2021 and will replace the previous rules implemented in 2014. Among other things, the Measures impose more stringent requirements against the common practice of “bundled consent” ...
Did you know? The Measures for the Supervision and Administration of Online Transactions (“Measures”) released by the PRC State Administration for Market Regulation will come into force on 1 May 2021 and will replace the previous rules implemented in 2014. Among other things, the Measures impose more stringent requirements against the common practice of “bundled consent” ...
Electric mobility represents a new language and a new dynamic for consumers who yearn for an accessible, extensive, digital, user-friendly charging network. In Portugal and abroad, the electric mobility sector has witnessed significant developments and it has shown itself to be a particularly dynamic market that is enjoying strong growth ...
Pursuant to amendments to the Companies Act, the Companies Act (Shipping and Aviation Cell Companies) Regulations (the "Regulations") allow for the incorporation of cell companies that conduct shipping or aviation business. The Regulations also allow for the conversion of an existing company that conducts shipping or aviation business into a cell company. To understand what is meant by shipping or aviation business, please click here ...
Quick and easily accessible guide for human resource and compliance professionals in the Lao PDR to understand the local data protection requirements. This DFDL infographic provides general guidance to HR and compliance departments as to the different steps employers should consider while collecting, monitoring and storing employees’ personal data to prevent or manage the risk of COVID-19 in the workplace ...
Tech Start-Up Companies Toolkits - ǼLEX Legal .avada-select-parent .select-arrow{background-color:#ffffff}.select-arrow{background-color:#ffffff} Are you running a start-up or contemplating starting that business and you are uncertain on how to proceed? Do not fret as AELEX Fintech centre has compiled this start-up tool kit to guide you on setting up your business ...
