Legal Property Due Diligence In a property transaction, whether that is buying, leasing, or financing, a legal property due diligence exercise may be required to assess the potential risk to a client before committing to the transaction. The potential for AI to be used to review and digest legal property DD documentation with speed and accuracy is clear ...
Current Regulatory Regimes Bermuda was one of the first jurisdictions to introduce sector specific laws and regulations relating to the issuance of ‘digital assets’ and the provision of ’digital asset business’ services. Bermuda's regime regulates the activities of issuers and services providers rather than the technology or digital assets themselves ...
On August 3rd, 2023, the regulation establishing the form and conditions through which the supplier must comply with the obligation to analyze the economic solvency of the consumer (the "Regulation") was published in the Official Gazette. This obligation was recently introduced in Article 17 N of the Consumer Protection Law by virtue of Law No. 21,398 of 2021 ...
In recent months, the National Consumer Service has published multiple opinions interpreting various rules of Law No. 19,496 on the protection of consumer rights ("CPA") that were amended in recent times, responding to practical requirements of the public, in matters of interest to suppliers and consumers. When reviewing these rulings, it is important to remember the scope and application of the interpretations made by this service ...
The UK government has announced plans to extend recognition of the CE marking ‘indefinitely’ beyond the upcoming deadline of 31 December 2024 for certain products placed on the Great Britain (GB) market, leading to uncertainty over the future of the UKCA marking ...
The Policy will apply to a broader range of regulated entities and includes updates to take account of Jersey’s evolving regulatory framework. The key amendments to the Policy are as follows: private funds or other funds with a consent issued pursuant to the Control of Borrowing (Jersey) Order 1958 (“COBO”), (which could include funds not domiciled in Jersey and unregulated funds) are not caught under the Policy ...
The initial proponents of Decentralised Finance (“DeFi”) opined that DeFi, as opposed to Centralised Finance (“CeFi”), could innovate the financial system by providing easier methods of payments and other financial services. The reasoning was based on the notion that transactions without a centralised intermediary in the financial system entail a simpler economy with less regulatory burdens ...
Introduction On June 1, 2023, the Minister of Justice, Simon Jolin-Barrette, tabled and presented Bill 29 entitled An Act to protect consumers from planned obsolescence and to promote the durability, repairability and maintenance of goods 1 (hereinafter the ?Bill?) before the National Assembly ...
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Last Wednesday (July 26), the Federal Court of Appeal (FCA) handed down its highly awaited decision on the patentability of computer-implemented inventions (software patents). In Canada (Attorney General) v. Benjamin Moore & Co. (2023 CAF 168), the FCA rejected the test proposed by the Intellectual Property Institute of Canada (IPIC) in the first instance decision, Benjamin Moore & Co. c. Canada ...
On July 10th, 2023, the Chamber of Deputies approved in its Second Constitutional Procedure the bill of law that, among other matters, aims to recognize Internet access as a Public Telecommunications Service (bulletin No. 11,632-15) (the "Bill"), through various amendments to Law No. 18,168, the General Telecommunications Law ("GTL"). As a result of the abovementioned approval, the Bill has been returned to its chamber of origin (i.e ...
The Responsible Actors Scheme (RAS) was launched on 21 July 2023. Eligible developers that fail to join or comply with the conditions of the RAS will be subject to building control and planning prohibitions. The Building Safety (Responsible Actors Scheme and Prohibitions) Regulations 2023 contain the detail of the RAS and are unchanged from the draft Regulations ...
The Government is undertaking a consultation on the secondary legislation required to implement the new public procurement regime established by the Procurement Bill ...
Public comment closed August 1 on the rulemaking process for a final ban on TikTok and other social media applications (“apps”) from federal contractors’ devices. The new regulation will expand upon the interim Department of Defense, General Services Administration, and NASA (“the agencies”) ban, which went into effect on June 2, 2023. Over half of all states have banned TikTok on state government devices, with more likely to follow ...
Experis, a global leader in IT professional resourcing, project services and managed services, recently conducted a survey of over 2000 British employers in relation to the employment outlook for 2023. In response, 54% of employers anticipate that Artificial Intelligence (AI) will have a positive impact in headcount over the next 2 years ...
As the financial services sector has developed and adopted technology, there has been a significant growth in Deferred Payment Credit, more commonly referred to as ‘Buy Now, Pay Later’ (“BNPL”) by consumers. Demonstrating the scale of growth, news outlets have recently reported that over £10 billion has been lent to consumers by BNPL companies in the last three years ...
Please be informed that major changes in regulation of information technologies and the Internet in Russia have been enacted recently by legislators in the third reading at the Russian Parliament. The bills are aimed at establishing new requirements for hosting providers, restrictions on the use of recommendation technologies on the Internet and authorisation methods on Russian websites, new fines for social media platform owners ...
In recent years, TikTok has become one of the most popular social media apps in the United States, with more than 150 million users,[i] and the most popular smartphone app in the United States.[ii] Despite its widespread popularity in the United States, TikTok has come under regulatory scrutiny due to data security concerns relating to its Chinese parent, ByteDance, and the United States government has even threatened to ban the TikTok app nationally if ByteDance does not sell the app ...
The Court of Appeal has partially clarified a significant loophole in the Telecoms Code, which was threatening to prevent the redevelopment of some telecommunications sites. The previous iteration of the Telecoms Code was infamously labelled ‘not one of parliament’s better drafting efforts’ by the High Court ...
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Following the adequacy decision, as outlined in our previous article, personal data may be transferred from the EU/EEA to companies in the US that are listed on the «Data Privacy Framework List«. The EDPB confirms in their information note that in these cases, there is no need to establish other transfer tools ...
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On 17 July 2023, the Financial Stability Board (FSB) published its High-level Recommendations for the Regulation, Supervision and Oversight of Crypto-asset Activities and Markets: Final report (Report A) and its revised High-level Recommendations for the Regulation, Supervision and Oversight of Global Stablecoin Arrangements: Final Report (Report B) ...
On July 13, 2023, the Cyberspace Administration of China ("CAC"), together with the National Development and Reform Commission, the Ministry of Education, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the National Radio and Television Administration issued the Interim Measures for Generative Artificial Intelligence Services (the "Interim Measures"), which will come into effect on August 15, 2023 ...
