How successfully a business emerges following this pandemic will depend to a great extent on how quickly it identifies and implements long term necessary changes. Nobody is yet clear what the post-Covid-19 world will look like. It is possible that things revert back to the way they were quicker than anyone imagines. That said, it is very difficult to imagine no lasting or consequential changes to the way we work or live ...
Goldman Sachs can’t make profits in the FinTech sector, as reported recently in the Financial Times newspaper. Competition must be tough. Where is competition coming from? A source, still arguably on the edges, is BigTech, who are using FinTech essentials (digital technology and big data) to become a player in the financial services market ...
UK and EU competition law provides that retailers must be free to determine their own resale prices. Actions by suppliers to restrict this freedom by dictating a fixed or minimum resale price are prohibited. The UK regulator, the Competition and Markets Authority (CMA) has vigorously enforced the law in this area, regularly pursuing investigations into and ultimately imposing fines on suppliers who engage in resale price maintenance ...
There is an ongoing controversy relating to search engine advertising. In particular regarding the legality of purchasing search terms incorporating third-party trademarks. In seeking a reasonable legal standard, this article discusses the latest legal development in trademark, unfair trading practices, marketing, and competition Law ...
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 ...
DIFC entities have until 1 October 2020 to ensure that their data processing activities are compliant with the new Data Protection Law (DIFC Law 5 of 2020) (the DP Law). Who is subject to the DP Law? • DIFC entities.• Non-DIFC entities that regularly engage with DIFC entities as part of a “stable arrangement”, which involve data being processed in the DIFC and/or transferred out of the DIFC. Practical Guidance 1. Maintain a record of Personal Data. 2 ...
The COVID-19 pandemic has disrupted every sector of the economy in multiple ways. For businesses whose operations are subject to environmental requirements, including waste management, storage, and disposal laws, these coronavirus-related disruptions may impact a facility’s ability to comply with mandatory reporting and submission deadlines or waste storage time limits ...
Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several legislative updates to address these evolving threats, including a significant change for entities in, and adjacent to, the financial services space ...
The lack of detail in the Budget speech on investment in renewable energy (nothing on hydrogen for example) was disappointing, and surprising to many given the timing of the Autumn Budget with COP26. However, the Comprehensive Spending Review did give a bit more detail. Whether it goes far enough or fast enough to meet ambitious targets is still up for debate ...
“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by the Reserve Bank shall not deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs ...
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**** ...
Roskomnadzor (Russian Data Protection Authority) plans to make it easier for personal data subjects to revoke consent to the processing of personal data Roskomnadzor proposes making it possible to ****revoke consent**** to the processing of personal data “in one click” ...
The Russian government has approved draft amendments to the Russian Criminal Code that increase the severity of punishment for leaks of personal data (“PD”) The amendments have changed slightly compared with the version adopted in the first reading ...
Moratorium on inspections of companies may be canceled from 01 January 2025 This is the initiative of the President of the Russian Federation, announced during his address to the Federal Assembly. If the moratorium is abolished, a ****risk-oriented approach**** is expected to be introduced: employers will be checked according to ****risk indicators****, and if there are no risks, inspectors will carry out ****preventive visits**** ...
Ministry of Labour: Employers may discipline employees for disclosing a colleague’s salary Earlier, we informed about the position of the GIT of the Nizhny Novgorod Region that if the employer’s ****local policy**** prohibits the ****disclosure**** of the ****salary**** of other employees, then employees who view another employee’s pay slip and disclose his/her salary may be ****disciplined**** ...
Government Commission approves positive review of draft law on turnover fines for leaks of personal data (“PD”) We previously informed you about the draft law that would impose ****turnover fines for PD leaks****, as well as fines for the failure to ****notify the Russian Federal Service for Supervision of Communications, Information Technology and Mass Media (“Roskomnadzor”) about the intention to process PD**** and the illegal transfer (****leak****) of PD ...
The Presidential Administration has not approved amendments to the second reading of the draft law on turnover fines for personal data (“PD”) leaks Despite the positive review of the draft law from the Government Commission, the State Legal Department of the President has prepared a ****negative review**** of the draft law on ****turnover fines**** for businesses for ****PD leaks**** ...
The Federation Council clarified how the Russian Digital Code will look like Work on the ****Digital Code****, which will become the basis for legal regulation of relations in the field of ****information**** and ****digital technologies****, will take at least another ****year****, and a significant part of the future document is planned to be devoted to the protection of ****personal**** and ****biometric data**** ...
The State Duma will consider a draft law on the possibility for the plaintiff to receive personal data (“PD”) of the defendant Amendments are planned to be made to the ****Civil Procedure Code**** of the Russian Federation. It is proposed to grant the plaintiff the right to file a ****motion**** to the court for assistance in ****establishing information about the defendant****, which is necessary to file a claim in court, but the plaintiff does not have ...
Ban on foreign information security services from “unfriendly” jurisdictions Decree No. 250 of the Russian President dated 1 May 2022 “On Additional Measures to Ensure the Information Security of the Russian Federation” previously imposed restrictions on the ****use of foreign information security means**** ...
All businesses possess confidential information - trade secrets, customer lists, staff records - which could mean loss of business, reputational damage, or give competitors an advantage if leaked, whether deliberately or accidentally.Depending on the type of information disclosed and the type of organisation, there are potential consequences regarding public policy and data protection ...
On January 17, 2023, the Senate approved the that sought to postpone the entry into force of the amendments introduced to the Mining Code by Article 10 of Law 21,420 (the "Bill 15,511-08"). This concludes the legislative process of Bill 15,511-08, as the House of Representatives had already approved this bill on January 5, 2023. Now, the initiative will be sent to the President of the Republic for its promulgation and subsequent publication in the Official Gazette in order to be enacted ...
On June 14, 2023, the National Congress approved the bill that creates the Biodiversity and Protected Areas Service and the National System of Protected Areas (the "Bill"). The purpose of the Bill is the conservation of biological diversity and the protection of the national natural heritage through the preservation, restoration and sustainable use of genes, species, and ecosystems ...
Even before the General Data Protection Regulation (GDPR) came into force, there were discussions as to whether the use of tracking cookies, which make it possible to analyze the usage and browsing behavior of a user on the Internet and use it for interest-based advertising, requires prior consent (opt-in) of the user or whether a dissent solution (opt-out) is sufficient. The German data protection authorities are of the opinion that users must give their consent ...
