It may seem logical that personal injury damages awarded for someone’s on-going medical needs following a serious injury would be ring-fenced on a divorce. Unfortunately, this is not necessarily the case. The leading authority on this point is Wagstaff v Wagstaff from 1992 in which, when referencing an attempt to ring-fence damages on divorce, it was stated that “the capital is not sacrosanct nor any part of it secured against the application of the other spouse” ...
The rise in the number of internet users in the last two decades has witnessed an increase in intellectual property infringement and theft. Presently, there exists in massive numbers, bad actors who leverage on the brands, identity and works of innocent internet (particularly social media) users, to derive personal gains and benefits ...
As seen in Bank Director The process of establishing a de novo bank always has been complicated and time-consuming, and occasionally even painful. But since the beginning of the financial crisis, it seems that obtaining deposit insurance for a de novo bank has become a nearly impossible task. The Federal Deposit Insurance Corp. received 1,738 applications for deposit insurance from 2000 through 2008, and approved 1,258 of those applications—an approval rate of 72 percent ...
Even though Belgium is lagging behind when it comes to enacting specific legislation, companies doing business in Belgium should be aware of the risk of being held accountable for human rights violations or environmental pollution up or down their value chain. Human rights violations are a ‘hot’ topic and businesses are confronted with ethical challenges in this respect ...
Executives and in-house counsel should be aware that traveling with sensitive data can lead to its seizure—with potentially severe consequences worldwide. Recently, Parliament in the United Kingdom seized from a traveling executive a USB drive containing data that had been produced in a United States lawsuit between Six4Three, a software company, and Facebook. Put simply, that data was in the wrong place at the wrong time ...
Broad-based black economic empowerment (“B-BBEE”) is a policy of the South African government that is aimed at increasing participation by previously disadvantaged South Africans in economic activities. The Broad-Based Black Economic Empowerment Act, 2003 (the “B-BBEE Act”) is the primary legislation through which this B-BBEE policy is implemented ...
The ‘Digital Operational Resilience Act’ or “DORA” (Regulation (EU) 2022/2554) shall be enhancing and improving Information and Communications Technology (‘ICT’) operational risk requirements across various financial sectors. Subsequently, it imposes obligations on a vast array of different financial entities, as well as certain ICT service providers that assist such financial entities ...
Beginning January 1, 2024, companies created or registered in the United States will have one year to report personal information about their owners to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. The Corporate Transparency Act (CTA) will now require many companies in the United States to file personal information with the government on their ownership and business applicants ...
The Competition and Markets Authority (CMA) and Advertising Standards Authority (ASA) are increasing their scrutiny and enforcement of ‘green claims’ to protect consumers from 'greenwashing'. What are green claims? Green claims (also known as ‘environmental claims’ or ‘eco-friendly claims’) are claims that a product, service, or business provides a benefit or is less harmful to the environment ...
Are you a compliance professional at a credit institution, a payment institution and electronic money (e-money) institution, or a third-party provider to such institution? If so, have a quick look at this compliance reminder with a view of the forthcoming deadline on 31 December 2021 ...
A dynamic platform, gathering answers to your most frequently asked questions in relation to the ongoing crisis. The content of this page will be continuously updated based on the latest news. Click here to access the Arendt Covid-19 Solutions Platform ...
This is a summary in which we have briefly described the main regulations issued so far in Argentina during the COVID-19 health emergency that affect or are related to fintech and digital banking activities ...
Minority shareholders – often forced to silently accept the rule of the majority – should be given a voice. In May last year, Jerry Low, a minority investor in Asiatic Group (Holdings), wrote an open letter to the management highlighting concerns regarding the SGX-listed company’s poor performance, juxtaposing this against the high remuneration enjoyed by its senior management team ...
Armor Holdings, Inc., recently resolved allegations that it violated both the anti-bribery and accounting provisions of the Foreign Corrupt Practices Act. Because of Armor’s extensive cooperation with the government, it was able to obtain a non-prosecution agreement from the Department of Justice and a settlement from the Securities and Exchange Commission ...
Impact of Supreme Court's order of March 23, 2020 A three-judge bench of the Hon’ble Supreme Court (“the Court”) in the matter of Suo Moto Writ Petition (Civil) No. 3 / 2020 titled as,In Re: Cognizance for Extension of Limitationinitiated suo - moto proceedings on 23.03 ...
Bill Gates said in a blog post: “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other. Entire industries will reorient around it. Businesses will distinguish themselves by how well they use it ...
Over the past few years, more and more companies have started publishing news content written by artificial intelligence (“AI”) algorithms. This includes Chinese technology giant, Tencent, whose rapid growth has shaped the trajectory of Naspers, the South African company that currently still owns a bit more than 30% of Tencent. Tencent publishes content produced by automated software known as Dreamwriter ...
Preface Artificial intelligence[1](AI) is widely recognised as one of the defining industrial phenomena of the 21stcentury. In today’s technology-dependent world, its potential impact on business and economic development can hardly be understated ...
Technologies based on blockchains and AI imply a considerable change for our society. Being that the security of data exchanged is vital, companies must begin adopting a long-term approach right now. Many businesses develop services based on blockchains, in particular in the financial services sector. Cryptocurrencies, one example of blockchain use, transform the way in which some monetary transactions are made, far from the oversight of financial institutions and governments ...
Cybersecurity will generally be a significant issue for businesses in the years to come. With teleworking, cloud computing and the advent of artificial intelligence, large amounts of data are likely to fall prey to hackers attracted by the personal information or trade secrets contained therein. From a legal standpoint, businesses have a duty to take reasonable steps to protect the personal information they hold ...
Over the past few months, our Legal Lab on Artificial Intelligence (L3AI) team has tested a number of legal solutions that incorporate AI to a greater or lesser extent. According to the authors Remus and Levy1, most of these tools will have a moderate potential impact on the legal practice. Among the solutions tested by the members of our laboratory, certain functionalities in particular drew our attention ...
Artificial intelligence (AI) is revolutionising the global real estate landscape. In the United States alone, AI companies are predicted to have a 1.6m sq m real estate footprint by the end of 2023, according to JLL ...
