The legal landscape is experiencing a significant shift as generative artificial intelligence (AI) gains traction in enhancing law practice efficiency. Both in-house legal departments and law firms are feeling the pressure to be conversant in this burgeoning technology and utilize it to promote effectual business practices. Legal departments are beginning to incorporate generative AI as…
The Hong Kong Court of Appeal this week unanimously dismissed two appeals from the Hong Kong Housing Authority (HA), which attempted to retain the exclusion of same-sex couples from the Public Rental Housing (PRH) policy and Home Ownership Scheme (HOS) as enjoyed by heterosexual couples. This comes after two applicants initially lodged a judicial review…
Justin Portaz, Chief Marketing Officer at Jenner & Block, is leading his team with a key focus in mind – trust. In the latest episode of the Passle’s CMO Series Podcast, Portaz discusses the importance of establishing a culture of trust within a marketing function, and across the wider firm. Coming from one of the…
In a move to revamp private fund regulations, the Securities and Exchange Commission (“SEC”) recently implemented a new rule set under the Investment Advisers Act of 1940. This move introduces significant changes on how private fund advisors manage, report, disclose and interact with their investors, as reported by JD Supra. The newly adopted rules appear…
A qui tam False Claims Act (FCA) complaint was recently unsealed against telehealth startup Cerebral, known for providing virtual mental-health therapy. This case was presented in the U.S. District Court for the Northern District of Iowa and forms part of the continued scrutiny of telehealth prescriptions. Telehealth, a sector that has seen rapid growth amidst…
The United Kingdom is in the process of drafting advanced legislation to govern the termination of payment service contracts, with the formal draft set to be introduced before 2024, according to a recent policy statement by the HM Treasury. The statement provides additional insights into the government’s approach to implementation, anticipated timeline and upcoming steps,…
The recent inauguration of the Knowledge Management & Innovation for Legal Conference (KM&I) has raised much anticipation and interest in the legal field, with a unique twist that redefines the conventional idea of a ‘new conference.’ Drawing back from when the ARK Group’s annual Knowledge Management (KM) conference was a linchpin for legal KM professionals,…
In numerous surrogacy arrangements across the world, things usually go as planned. However, when matters go awry under unusual circumstances, the legal aftermath could become highly complex. A recent case from Montana’s Supreme Court throws light on this difficult scenario. The intriguing tale involves a Chinese student living in Alabama, acting as (future) father, a…
On October 10, 2023, the U.S. Securities and Exchange Commission (SEC) amended the beneficial ownership reporting requirements under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934 (Exchange Act). This change marks the most substantial reform to these regulations since the adoption of the Williams Act in 1968, according to Wilson Sonsini Goodrich…
As we move deeper into the digital era, the stakes for corporate legal departments are raised higher in the struggle to keep pace with ever-evolving technological advancements. Among the most impactful of recent advancements is generative artificial intelligence (AI). According to a recent Gartner poll, 55% of organizations are using generative AI to drive their…
The United States Equal Employment Opportunity Commission (EEOC) issued its long-anticipated proposed guidance on workplace harassment on October 2, 2023. The proposed directive called “Guidance” aims to provide clearer protocols and better definitions of harassment in a professional setup. The last such endeavor by the EEOC dates back to January 2017, under the Trump Administration,…
In recent times, the automotive industry has demonstrated notable efforts towards enhancing sustainability. These efforts manifest in various forms – from improving fuel efficiency, promoting electric vehicles, to adopting eco-friendly manufacturing processes. Alongside these significant strides, another environmental consideration that demands the attention of each automotive Original Equipment Manufacturer (OEM) and supplier includes the so-called…
In an increasingly competitive global market, the successful operation of law firms in the year 2024 will necessitate forward-thinking marketing and business development strategies. It’s important to note that, a cookie-cutter approach will do little to propel a firm ahead of its competitors – the solution, instead, lies in devising a unique strategy that neatly…
In a ruling issued on Tuesday, the India Supreme Court held that there is no fundamental right for same-sex couples to marry. The decision rendered by a five-judge bench, led by the Chief Justice of India Dhananjaya Yeshwant Chandrachud, rejected the recognition of same-sex marriages and civil unions for non-heterosexual couples. The ruling came on…
A New York federal court has ruled that sellers who violated representations outlined in an asset purchase agreement must compensate the buyer. This compensation is determined using an implied purchase price multiple, taken from the time of sale, and an adjusted trailing 12-month EBITDA, which considers the sellers’ breaches. The legal decision transpired on October…
The Council of the European Union has adopted the final text of the Directive on consumer credits, otherwise known as the Consumer Credit Directive II (CCD II). This directive is set to revise and replace the existing Consumer Credit Directive (2008/48/EC). Upon adoption, the next procedural step towards realization is the imminent publication in the…
On Tuesday, in a significant development, Russia’s Duma voted on a bill to de-ratify the Comprehensive Nuclear-Test-Ban (CTBT) Treaty. The initial reading of the bill took place in the State Duma, followed by unanimous adoption by the selected members of the the State Duma, endorsing Russia’s withdrawal from the treaty. The details of this move…
In a significant policy shift, the U.S. Food and Drug Administration (FDA) recently issued a revised draft guidance on “Labeling for Biosimilar and Interchangeable Biosimilar Products.” Most notably, the new guidance no longer recommends that interchangeable biosimilars include an “interchangeability statement.” Instead, it proposes that all biosimilar labeling – whether the product is interchangeable or…
In recent legal news, a collection of noteworthy articles, commentary, and links related to the Supreme Court have been curated and highlighted for your perusal in The Morning Read for Tuesday, October 17, a curation by SCOTUSblog. One of the featured topics includes a call from Justice Barrett for the Supreme Court to adopt an…
The recent implementation of the United States-Mexico-Canada Agreement (USMCA) has opened up new opportunities for businesses to reallocate their operations closer to the U.S, a strategic move referred to as “nearshoring”. This trend is gaining momentum as companies look to minimize disruptions to their supply chains, particularly in light of recent global events. In a…
As the uncertain, rapidly-evolving landscape of artificial intelligence (AI) continues to seek firm footing in the realm of effective legal policies, procedures, and best practices, professionals in the field of law need to learn to navigate and embrace what may seem like nebulous aspects of this technological realm. With AI-induced challenges and risks such as…
Generative artificial intelligence (AI) is stirring different emotions in legal departments across the globe. The early adopters, however, have reached a critical realization – the potential of AI to make them more efficient, strategic business advisers; a key success metric for the in-house attorneys of today. The interplay of emotions, ranging from anxiety to exhilaration,…
On October 13, 2023, the US Securities and Exchange Commission (SEC) took the final steps in solidifying Rule 10c-1a. This new directive involves crucial aspects related to reporting and dissemination of specific details about securities lending transactions. It is a regulation that will have broad-based implications for legal professionals and corporates who manage these securities….
The Department of Labor (DOL) is ushering in changes that will affect the Employee Retirement Income Security Act (ERISA) fiduciaries and private fund managers with their latest final Environmental, Social, and Governance (ESG) investing and proxy voting regulations. These modifications are set to become effective on December 1, 2023. These regulatory modifications stand to influence…
In a recent move, the largest bank in the United States has launched its blockchain-based Tokenized Collateral Network (TCN), as reported. Significantly, the establishment has successfully completed its very first transaction involving a U.S. multinational investment company and a British universal bank. While blockchain is still a relatively new technology in the financial world, its…