Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for August 2022. Financial Services Securities Commission Malaysia Issues Consultation Paper on Proposed Regulatory Framework for Technology Risk Management by Capital Market Entities Islamic Financial Services (Minimum Amount of Capital Funds or Surplus of Assets Over Liabilities) (Licensed Person) (Amendment) (No ...
Financial Services Malaysia Overnight Rate as Alternative Reference Rate Bank Negara Malaysia (“BNM”) announced on 24 September that the Malaysia Overnight Rate (“MYOR”) is an alternative reference rate for Malaysia. The MYOR: will be administered and calculated by BNM as the volume-weighted average rate of unsecured overnight Ringgit interbank transactions, including BNM’s overnight monetary operations (excluding Standing Facilities) ...
In the wake of COVID-19, cities, counties and states across the nation are issuing shelter-in-place and stay-at-home orders to curb nonessential movement of residents. States and local authorities are invoking powers to evacuate residents through statutes that have historically been used for natural disaster evacuations. While the ability to order and enforce such evacuations is not in dispute, the orders in this context raise many questions ...
How new technologies and changing consumer expectations is signaling disruption to the health industry and the importance of finding ways to better measure and translate patient satisfaction and outcomes. Do you know if your clinician is doing a good job? What about the track record of your surgeon? Should you be entitled to know as a consumer? The industry is being disrupted – no longer is the family GP the dispenser of all health advice ...
The fintech boom is changing rapidly both the way we work and how we conduct business. From managing our budgets and payments, to investments, insurance and obtaining loans and finance, fintech is steadily influencing everyday life. In a sector estimated to have attracted in excess of £2 billion in UK investment last year alone, Scotland hosts a thriving fintech community ...
Shoosmiths’ AI lead and partner Alex Kirkhope attended the Data Ethics Summit, focused on exploring the fundamental principles of ethical technology, the agenda evolved to delve into the practical applications of ethics, spanning from private sector strategies to policy and regulatory development, many of which are now being put into practice ...
Shoosmiths’ head of technology sector Joe Stephenson attended the Tech and Innovation Summit, focused on how public and private sector organisations are supercharging innovation into action. In today's rapidly evolving technological landscape, staying ahead of the curve is crucial for businesses and governments alike. Below, we reveal our key takeaways from the event: Data Centres: Meeting the Demand for Growth The digital age has ushered in a surge in data generation and consumption ...
Shoosmiths has submitted a comprehensive response for the proposed Automated Vehicles Bill (AV Bill) to the House of Commons. It outlines crucial insights from the firm into the expanding connected and automated mobility sector, to support with new legislation ...
In response to the coronavirus (COVID-19) we continue to undertake a series of measures to: 1. protect our employees; 2. provide continuity of support to our clients; and 3. work with critical elements of our supply chain to enable us to fulfil 1 and 2 Shoosmiths senior leadership, including our Chairperson, CEO, COO, business support Directors and business unit heads, are meeting as and when required to consider and act upon developments regarding COVID-19 ...
In recent months, colleagues in Scotland have been working closely with Glasgow City of Science and Innovation to partner in raising the profile of the Glasgow City Region on a national and international scale, showcasing its potential as a world-class hub for research and innovation ...
WSG member Simon McArdle, Partner at Shoosmiths, shares his advice for GCs looking to implement tech for the first time, his predictions around the next big thing in legal tech and how to ensure that the legal system and/or tech you invest in doesn’t get retired and replaced shortly after ...
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 ...
Following a landmark judgment issued this week, every local council in England must now keep to fixed legal time limits when reviewing the needs of children and young people with special educational needs. The annual review process involving Education, Health and Care (EHC) plans will now be subject to strict timelines following R (L,M, and P, v Devon County Council [2022] EWHC 493 (Admin). EHC plans, which must be reviewed annually, will now have to be reviewed within 12 weeks ...
Clearview AI has escaped punishment in the UK for its global facial recognition database. The reasons why are crucial and will potentially affect the future of privacy for everyone in the UK. Alongside Cambridge Analytica, Clearview AI has emerged as probably the best-known maverick of data analytics based on recent reports. It has been fined by data protection regulators around the world, including in the UK, for developing what regulators consider unlawful facial recognition technology ...
Part of the fall-out of the COVID-19 pandemic is the condition labelled ‘long-covid’. This is still a relatively new condition that remains under study, but symptoms include extreme tiredness, shortness of breath, loss of smell and muscle aches. Some people experience further complications and suffer memory problems known as ‘brain fog,’ difficulty sleeping, dizziness, depression and anxiety ...
The Superintendence of Industry and Commerce (SIC) issued an administrative order, through Resolution 19012 of 2020, to providers of telecommunications networks and services providers (TNSP) to safeguard the rights of its users. We highlight the following measures: For mobile phone and internet operators: inform users of postpaid and prepaid services of their rights during the state of emergency and the rules that apply to the suspension of service for non-payment on time ...
In the guide, Chambers notes: «I choose to work with them because they are the most active in the scale-up and startup community; they have compassion for new market entrants; and are passionate and know all the domain experts for money and payment institutions.»» says an interviewee. Another interviewee adds: «They are able to quickly understand the technological, economical, and legal aspects ...
In the guide, Chambers notes: «It’s the leading tech law firm and has now become the leading FinTech law firm,» says an interviewee, who adds: «It’s the only law firm to enhance their FinTech offering consistently.» Our partners Espen Tøndel and Morten Winther defend their individual Band 1 rankings ...
In the guide, Chambers notes that Simonsen Vogt Wiig is a highly respected firm in Norway with significant expertise in payments law. The firm acts for large banks and start-ups on corporate matters, regulatory compliance, data privacy and cryptocurrency issues. It has further capability in intellectual property and crowdfunding ...
In January 2020 the first signs of Covid-19 were of a commercial nature. Business activity related to China – which is a large part of the maritime industry in Asia – started slowing down considerably. Projects experienced delays, new ventures were postponed and a general slowdown could be felt throughout the maritime business world. As February and March came around, the first Covid-19 cases started being reported in Singapore ...
Disruption. Possibly the most overused word in today's global lexicon, it refers to the upheaval that is created when a new business (these days, usually founded by a smart alec entrepreneur) uproots an established method of delivering a product or service. Think Spotify, a music-streaming business that has sounded the death knell of CDs. It has, as its most vocal opponent, pop star Taylor Swift, who felt that it did not adequately value her art ...
On July 16, 2014, the Sixth Circuit Court of Appeals confirmed that a “health care provider can bring the Medicare Secondary Payer Act’s (“MSP’s”) private cause of action against a non-group health plan that denies coverage for a reason besides Medicare eligibility.” In Michigan Spine & Brain Surgeons, PLLC v. State Farm Mutual Automobile Insurance Co., the Court clarified a key holding in its prior decision in Bio-Medical Applications of Tennessee, Inc. v ...
In a significant victory for healthcare providers, the Sixth Circuit Court of Appeals on Monday overturned an $11.1 million False Claims Act (FCA) judgment against Atlanta-based medical imaging company MedQuest Associates, Inc. and three of its Nashville, Tennessee-area imaging facilities. The Court held that the company did not violate the FCA by failing to comply with Medicare supervising-physician regulations or Medicare enrollment regulations following a change of ownership ...
Yesterday a three-judge panel from the United States Court of Appeals for the Sixth Circuit became the first appellate court to uphold the constitutionality of the minimum coverage provision of the Patient Protection and Affordable Care Act (the “Act”), requiring that Americans obtain health insurance. Opinions are expected from the Fourth and Eleventh Circuits later this summer ...
Skilled nursing facilities have faced unprecedented challenges since the outbreak of the coronavirus pandemic. Individuals with many high-risk characteristics are the typical patients of these facilities. Add to this, necessarily close proximity of these patients, scarcity of personal protective equipment and shortage of testing common across the healthcare industry, and you have a perfect storm of increased risk with limited options for mitigation ...
