In an unprecedented development in Canadian law, Alberta has introduced a new tort of harassment, as detailed by JD Supra. This new tort was established by the Alberta Court of King’s Bench during the proceedings of Alberta Health Services v. Johnston (Alberta Health). The decision and scale of adoption by other Canadian provinces remain speculative…
As world economies grapple with the urgency of carbon emission reductions, the United States is charting a new path in the transportation sector, spearheaded by states such as New York. In order to accelerate electric vehicle usage across the state, New York’s Legislature has now passed four vehicle charging infrastructure bills during the recent session,…
The ongoing integration of Artificial Intelligence (AI) into the legal profession continues to raise fundamental questions about its efficacy and appropriate use. AI’s utility within the industry is a topic of discussion, particularly following recent incidents of misuse. In a case based in New York, two attorneys faced sanctions for their reliance on AI, specifically…
In an endeavor to scale broadband access in rural and high-cost areas, the Federal Communications Commission (FCC) issued a Sixth Report and Order (Order) in its Affordable Connectivity Program (ACP) docket on August 4, 2023. Detailed in a story covered by JDSupra, the provision is evidence of a commitment to bridging the digital gap in…
In the face of transforming global financial standards, Guernsey has emerged as a promising hub for investment funds and other investment vehicles. The island has ensured its attractive position, not only through its tax-neutral environment, but also through strict adherence to taxing and regulatory norms that meet international standards. This briefing takes us through Guernsey’s…
On August 2, 2023, a significant change occurred in the legal landscape of workplace rules in the United States with the adoption of a stringent new legal standard by the National Labor Relations Board (NLRB). This standard, adopted during the case of Stericycle, Inc., 372 NLRB No. 113 (2023), pertains to the assessment of the…
On July 28, 2023, regulatory developments culminated with the Federal Energy Regulatory Commission (FERC) releasing its long-anticipated final rule. In an attempt to address the growing bottleneck of interconnection requests across America, FERC confirmed the official introduction of reforms aimed at streamlined operations in the generator interconnection process. Orrick, Herrington & Sutcliffe LLP reports on…
Designing compensation to operationalize compliance continues to be a vital and strategic topic for legal professionals. The shift towards incorporating compensation systems into a company’s compliance program is evident, highlighting the importance of alignment between monetary incentives and adherence to corporate compliance. In a recent podcast episode, compliance expert Tom Fox discusses the perspective of…
The Climate Tech Ecosystem represents an area of technology expressly focused on mitigating greenhouse gas (GHG) emissions, a key driving factor behind climate change. The term ‘Climate Tech’ is gradually replacing traditional phrases such as ‘cleantech’ and ‘greentech’, which predominantly highlight human impact on the environment. Notably, Climate Tech expands beyond simply mitigating GHG emissions….
A recent episode of the award-winning podcast, Compliance into the Weeds, takes a deep dive into the contentious PCAOB proposal for fraud and compliance audits. Hosted by Thomas Fox, a noted Compliance Evangelist, this podcast has become a go-to destination for those seeking informed commentary and discussions on compliance-related subjects. In the episode, Fox teamed…
The rise of artificial intelligence (AI) continues to revolutionize numerous sectors, including the legal profession where applications range from contract analysis to legal research. Now, even family office structures are finding beneficial uses for AI, although they must also navigate the potential risks associated with its adoption. This technology’s increasing prevalence prompts individuals and businesses…
With advancements in artificial intelligence (AI) and machine learning models, organizations worldwide are thinking over the incorporation of these dynamic tools into their everyday operations. Given their advanced proficiencies and the media limelight they are receiving, it is not surprising to see the increasing interest of companies towards AI. Potential applications of these powerful language…
Since the introduction of ChatGPT in November 2022, generative AI (GAI) has advanced significantly within the legal field. Many current applications focus on enhancing legal research and extraction of data, but the potential reach and impact is much broader, with the capacity to reform legal tech. Whilst GAI acceptance is growing in the legal industry,…
The UK Government commenced a novel scheme of accommodating asylum seekers on a residential barge situated in Portland this week. The initiation of this unconventional measure marks the government’s intention to progressively increase the number of asylum seekers lodged on such similar provision over the ensuing months. The barge christened ‘Bibby Stockholm’ was initially boarded…
The enduring rise of arbitration as a chosen route for dispute resolution has led to a surging requirement for arbitral awards to be acknowledged and executed in offshore jurisdictions. This developing trend is an observation underlined by some of the world’s strongest offshore jurisdictions— Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland, and…
The US Securities and Exchange Commission (SEC) has recently adopted final rules regarding the disclosure of cybersecurity incidents, presenting companies with new reporting requirements. Coming into effect on 26 July 2023, these rules are expected to bridge the gap left by previous disclosure guidance from 2011 and 2018, implementing a definitive obligation to disclose cybersecurity…
In recent developments, Yellow Corp, a renowned trucking firm, has confirmed an employee layoff, following a prolonged labor dispute. An estimated 1,000 workers across North Carolina, 200 of whom are based in the Triangle, have been affected. This comes after the operation of the corporation was abruptly halted on a recent Sunday. The layoffs have…
With rapid advancements in the digital world, cybersecurity has become more crucial than ever. Now, a new reality is taking shape in the corporate domain: the U.S. Securities and Exchange Commission (SEC), on July 26, 2023, has officially mandated the inclusion of cybersecurity disclosures for public companies. What does this imply? By this ruling, public…
A new report from McKinsey & Company reveals that many businesses have embraced the use of AI tools with minimal anticipation of potential risks these advanced technologies might present. This revelation suggests a significant lack in strategic measures to mitigate potential legal and ethical challenges that might arise from the application of AI tools in…
There has been a remarkable change in the metrics used to calculate earnout payments in recent years. According to analysis of the Goodwin Private Equity Deals Database, there’s a shift towards the use of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) as a crucial determinant. The analysis indicates that EBITDA became almost as prevalent…
In April 2022, the Basel Committee on Banking Supervision (the Basel Committee) embarked on a review of “the core principles for effective banking supervision” (Core Principles or CP). This procedure is in accordance with its mandate to strengthen global capital and liquidity rules with the intention to decrease the risk of bank-level financial distress that…
The growing adoption of application programming interfaces (APIs) by law firms has led to the diversification of their data sourcing needs. As a result, they are now accessing data from myriad external sources to fulfill a wide range of purposes, which span from building analytics and gathering intelligence on their clients and competitors, to developing…
A critical development for consumer loan FinTechs and their Special Purpose Entities (SPEs) is the recent adoption of statutory amendments by Connecticut and Nebraska that expand licensing requirements to state non-mortgage consumer lending laws. The amendments underscore a keen interest in third-party marketers and servicers who act on behalf of insured depository institutions with respect…
On July 26, the Securities and Exchange Commission (SEC) announced a significant change in policy with the adoption of a new rule explicitly addressing cybersecurity risk management, strategy, governance, and incident disclosure. The move reflects increasing concern surrounding cyber threats and a push for proactive measures to safeguard public companies and their stakeholders. This rule…
In a significant development that could potentially impact 5G adoption and related IP policies, a Dallas-based intellectual property firm has lodged a lawsuit against Apple Inc. in a California federal court. The claims made by this company are two-fold: first, that Apple is infringing upon patents essential to the implementation of the 5G standard, and…