The Modernization of Cosmetics Regulation Act of 2022 (MoCRA) is a significant development in cosmetic industry regulations, initiating notable change to the current landscape. Provisions like talc testing and sample preparation requirements are being established by the Food and Drug Administration (FDA), as a part of this Act. This advancement is part of a series…
Over the weekend, the capital of one of Africa’s most stable democracies echoed with the chants of citizens rallying against a government they accused of corruption and gross mismanagement. In Accra, Ghana’s nerve center, hundreds of people heeded the call of the Democracy Hub, a non-partisan, non-aligned civic organization, embarking on a three-day protest against…
On September 15, 2023, the Consumer Financial Protection Bureau (CFPB) issued a detailed outline of its proposal to put forward a rule under the Fair Credit Reporting Act (FCRA). This rule seeks to regulate the consumer data collection and selling activities of data brokers, a group of businesses that have long been evading compliance under…
As the European Union continues its negotiation phase, or trilogue, in Brussels regarding the EU AI Act, the impact of this new regulation on the Mergers & Acquisitions (M&A) sector is increasingly under scrutiny. The Act, still under negotiation, is intended to promote the activity of European companies in the field of artificial intelligence (AI),…
In a notable step towards determining New York State’s financial future, the state’s Budget Director, Blake Washington, recently issued an annual agency “call letter.” Sent to the executive branch agencies, this action seeks the development and submission of budget requests needed to support agency operations. This development presents an opportunity for legal professionals to gain…
On September 19, 2023, the Consumer Financial Protection Bureau (CFPB) introduced further explicit guidance for creditors regarding the communication of credit denials to consumers, with particular focus on decisions driven by artificial intelligence (AI) or intricate credit models. The introduction came in the form of a newly issued circular, dubbed Circular 2023-03. The essence of…
No-poach agreements, once seen as a harmless tool for businesses to protect their workforce from being poached by competitors, have come under intense scrutiny recently. These agreements, wherein companies mutually decide not to solicit or hire employees from each other, have been on the radar of the White House, the Federal Trade Commission (FTC), and…
In a major development in the legal world revolving around privacy breaches and Biometric Information Privacy Act (BIPA) violations, the Appellate Court of Illinois, First District has ruled. The court discerned, applying New York law, that an insurer has the responsibility to defend an insured party in a lawsuit that alleges violations of BIPA. This…
Mintz Levin Cohn Ferris Glovsky and Popeo PC, is expanding its legal team with the addition of two new partners to bolster its intellectual property (IP) and finance sectors. The firm has recruited a former partner from Dentons, a multinational law firm, to work in their recently inaugurated office in Toronto. Simultaneously, an IP partner…
A recent development in the ongoing case of In re The Hacienda Company, LLC suggests bankruptcy courts may be an available means for non-operating cannabis companies to liquidate assets. This legal issue has its roots within the United States Bankruptcy Court for the Central District of California, presided over by Judge Neil Bason. The focus…
The Office of the National Cyber Director (ONCD) has issued a public call for comments to streamline cybersecurity regulations as part of the recently released National Cybersecurity Strategy. The office is particularly interested in how regulations can be harmonized for greater efficacy, with comments requested by October 31, 2023. Earlier in March 2023, the White…
In a move designed to bolster commercial space launch operations, the United States Federal Communications Commission (FCC) has recently approved a Report and Order (Order) that amends access to the 2200-2290 MHz band spectrum and revises spectrum licensing rules. This was reported by legal firm, Wiley Rein LLP. The FCC’s new order will significantly enhance…
Welcome to your daily Financial Regulation Update. It has been a bustling day in terms of financial and legal news: On September 26, 2023, the U.S. Department of the Treasury Counselor for Racial Equity, Janis Bowdler, made a presence at the 2023 U.S. Hispanic Chamber of Commerce National Conference. Further details surrounding her visit are…
In a recent update on New York insurance coverage law, the Eastern District found that a delay by insurer Prime Insurance Company in disclaiming, after its insured Extreme Residential Corp. gave a notice of occurrence, precluded the insurer’s reliance upon exclusions. The judgment arose out of a construction accident that took place on July 30,…
In today’s digital era, Generative Artificial Intelligence (AI) systems such as ChatGPT and Google’s Bard have permeated nearly every sector, from science and law to art, business, and even medicine. Epitomizing transformative technology, these AI systems owe much of their success to the current lack of stringent AI regulatory laws. However, the rise of these…
From the training ground of the gym to the rigours of the corporate legal field, the humble mantra “small actions make for big impacts” takes on profound new resonance. In the realm of customer relations management (CRM), this principle assumes great import. As legal professionals, integrating small, daily habits into our routine can drastically improve…
With an ongoing trend in the legalization of recreational cannabis across states, there has been an upsurge in demand for public venues, colloquially known as cannabis consumption lounges, where users can safely consume and enjoy cannabis products in a social setting. This is not only seen as an innovative development in the burgeoning cannabis industry…
In an important move to ensure global minimal taxation, the German federal cabinet approved the government draft bill on August 16, 2023. This bill was drafted to implement Council Directive (EU) 2022/2523 – the Minimum Tax Directive Implementation Act (MinBestRL-UmsG), as reported by JD Supra. The approved bill primarily includes the draft of a new…
A former recruiter for Major, Lindsey & Africa (MLA), Sharon Mahn, who was previously dismissed in 2009 on allegations of stealing trade secrets, intends to bring charges of sexual harassment, assault, and abuse of process against her ex-employer in court. This information comes to light from recent bankruptcy filings tied to Mahn’s financial estate. A…
The continuous advancement of technology and the internet has undeniably paved ways for improved efficiency, precision, and surveillance across almost every industry.Woodruff Sawyer examines an important intersection of these realities: the relationship between cyber insurance and property coverage. As we immerse ourselves further into the digital age, the boundaries between tangible and intangible assets grow…
Major amendments to the German tax landscape are in the pipeline following the recent approval of the draft Growth Opportunities Act by the German cabinet. Passed on August 30, 2023, the new law holds the promise of a reformed, streamlined and fairer tax system in Germany. As noted by Morgan Lewis, the legislation stems from…
Almost a year since the advent of generative artificial intelligence, the tool has emerged as a promising yet expensive solution for the legal industry. Particularly, the e-discovery sector, which is infamous for its laborious and heavy cost workflow, perceives this technology as a considerable advancement. The legal industry’s experimentation with generative AI varies significantly. The…
Will pop star Taylor Swift be the one to save Joe Biden’s 2024 election campaign? This light-hearted concept is a tongue-in-cheek recommendation devised by Berkeley Law professor Orin Kerr. Swift’s vast fanbase, termed as ‘Swifties’, have frequently shown their eagerness to follow their idol’s calls to action. Swift’s influence notably reflected in a surge of…
The demanding nature of legal profession, particularly within large law firms, is well-known. Despite the crushing hours often associated with Biglaw jobs, a rising number of lawyers are finding time to pursue alternative careers or “side hustles”. According to a recent study by Bankrate, engaging in side hustles has become a progressively regular feature of…
The Consumer Financial Protection Bureau (CFPB) is spearheading a rulemaking proposal that could alter the framework for reporting medical debt on consumer credit reports, which carries critical implications for corporations and law firms alike. This initiative by the CFPB, which is still under consideration, consists of two core components. This recent report by Goodwin provides…