When the Protection of Personal Information Act, 2013 (“POPIA”) comes into effect fully from 1 July 2021, there are some areas of possible dispute that could arise between employers and employees, including the monitoring of employee emails. In a recent Constitutional Court judgment in Turkey, the personal data protection rights of an employee were considered, and could provide some guidance as to how a similar situation may be handled in a South African context ...
New SCCs are hot off the (virtual) press. Now's the time to plan, implement the changes in them and, most importantly of course, keep your data flowing. Who hasn’t during a power cut, out of habit, entered a room and tried to flick on the lights? There’s a tiny delay before you remember there’s no power and you reprimand yourself for being so foolish. Too often, we only notice the electricity that powers our lives when it’s not there ...
On 21 May 2021, Hong Kong’s Financial Services and Treasury Bureau (FSTB) issued its consultation conclusions (Conclusions) on the proposed licensing regime for virtual asset services providers (VASPs). The Conclusions follow publication of the FSTB’s consultation paper of 3 November 2020 (Proposal). For details of the Proposal, please refer to our article of 24 November 2020 ...
On May 28, 2021, Exempt Resolution No. 310, dated April 16, 2021 of the Ministry of the Environment was published in the Official Gazette. By means of such resolution, the Ministry of the Environment initiates the process of drafting the Supreme Decree that will set forth collection and recovery goals and other related obligations for batteries and electrical and electronic devices. Regulated priority products: "Batteries" and "Electrical and Electronic devices" ...
On 21 April 2021, the European Commission (EC) published a proposal (Proposed Regulations) which is described as the “first-ever legal framework on [Artificial Intelligence]”, aiming to turn Europe into the global hub for trustworthy Artificial Intelligence (AI). The Proposed Regulations are of general interest because they constitute a first attempt to “regulate” AI properly and, if implemented, may become influential worldwide ...
Electronic registration The Norwegian Maritime Authority («NMA«) has developed a new system for electronic ship registration and has proposed certain amendments to the Norwegian Maritime Code and appurtenant regulations. The amendments are currently circulated in a memo subject to public hearing ...
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 ...
The ethical consumer market in the UK has increased four-fold since 1999, and now is conservatively estimated at over £40bn per annum. Consumers are actively changing their behaviours in favour of more sustainable and ethical choices. As a result, companies are increasingly creating or adapting their offerings to appeal to these consumer preferences ...
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 Eighth Circuit Court of Appeals held that a D&O liability insurer could not rely on ambiguous endorsements as a basis to deny coverage for claims brought by investors against its insured company and its CEO. Reversing the Eastern District of Missouri, the appellate court in Verto Medical Solutions LLC et al. v. Allied World Specialty Insurance Co., No. 19-3511 (8th Cir ...
There is a growing consensus among business stakeholders and society at large that mere compliance with legal rules is not enough tolive up to the requirements of business integrity. Moreover, legal rules often use vague concepts and ethics are also useful to give concrete expression to the required practices ...
Legal due diligence processes are widely known in the context ofmergers and acquisitions (M&A) and corporate reorganisation projects. Their aim is to analyse the operations and organisation ofcompanies to identify their degree of compliance with applicable legal and contractual regulations, the level of risk of non-compliance, and the potential sources of legal and contractual liability ...
The world is in an upheaval now with the pandemic raging for over a year. The discussions and decisions that probably would never have been made a few years ago are being made today in the interest of the greater good and the public at large. When Bill Gates expressed his reservations against lifting IP protection on vaccine patents, it left the world reeling and his comments understandably criticised by experts and laymen alike ...
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 ...
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 ...
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 ...
On May 17, 2021, the United States Health Resources and Services Administration (HRSA) publicly disclosed letters which were sent to six major pharmaceutical manufacturers. HRSA’s letters expressly state that each manufacturer is currently in violation of the Federal 340B Program statute as a result of policies restricting contract pharmacies and covered entities from access to 340B Program discounted medication ...
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 ...
Knowing what to expect when going into the sale process and teaming up with experienced advisors is critical to making the sale of your business the crowning achievement of all of your hard work. This article discusses several steps in certain business sales, using a hypothetical company named ABC Manufacturing, and provides tips for success at each stage ...
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 ...
For those of us in the dispute resolution world in construction, one cultural trait that is seen with nearly all contractors is a strong sense to do the job right. Most businesses are small, and closely held. And most contractors carry significant pride in their work product and in keeping their clients happy. That character extends not only to work in progress, but also to resolution of issues related to the work after it is complete ...
