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…
Artificial Intelligence (AI) is making an increasingly visible mark on numerous sectors, with the legal field being no exception. While no lawyer expects AI to eliminate human roles entirely, many perceive a shift in the role of a law firm associate due to rapid technology adoption within the practice of law. Some attorneys have made…
Generative artificial intelligence (GenAI) applications are significantly transforming the efficiency and innovation of many sectors, while simultaneously introducing unique legal and operational risks. This emerging technology is primarily governed by end-user license agreements (EULAs), which establish the legal relationship between the AI software developer and the end-user. As the use of GenAI expands, it is…
In a significant move towards the future of spectrum management, the Federal Communications Commission (FCC) has adopted a Notice of Inquiry (NOI) dubbed “Advancing Understanding of Non-Federal Spectrum Usage.” The initiative relates to the growing use of wireless spectrum by non-federal entities which the FCC governs. This vast array of entities includes commercial users as…
The legal world, with its variety of complexities, has consistently been projected as being on the brink of radical metamorphosis. These predictions, highlighting everything from apocalyptic demise to significant restructuring, seem to emerge in regular five to ten year intervals. This cyclic wave of predictions can be traced at least as far back as the…
On May 5, 2023, the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) proposed significant changes to the federal safety requirements for pipeline and liquefied natural gas (LNG) facilities. The notice of proposed rulemaking, dubbed “Pipeline Safety: Gas Pipeline Leak Detection and Repair” (NPRM), offers regulatory amendments to the existing requirements under…
In the rapidly evolving era of digital health, many medical practitioners and healthcare providers are turning to artificial intelligence tools to streamline their operations and enhance patient care. Among these AI developments, ChatGPT, an advanced conversational AI developed by OpenAI, has been gaining attention for its potential application in the healthcare sector. ChatGPT’s impressive ability…
In an attempt to expedite the process of setting up new renewable power facilities, the Council on Environmental Quality (CEQ) under the White House’s guidance has suggested a new regulation. The United States is taking steady strides towards decarbonizing its energy mix, and this proposal comes as part of that vision. The proposed rule aims…
In a telling display of the ongoing economic impacts of the global pandemic, another high-profile law firm, BigLaw, has announced significant staff reductions. The firm recently let go of 11 lawyers and eliminated a further 24 staff positions. This move was taken in response to a reported drop in partner profits. This latest round of…
In a recent development, Argentina-based Cool Brands Supply SA has filed a trademark infringement lawsuit against LIV Golf Inc. and HyFlyers GC. This high profile case has caught the attention of the legal industry, with a particular focus on the issues that a New Jersey district court may consider in the case. Renowned for its…
As July 2023 draws to a close, it becomes clear that important developments in the domain of ESG and sustainable finance regulation continue to unfold despite the onset of legislative and regulatory summer recesses. Among the recent developments generating considerable interest within legal circles is the European Commission’s formal adoption of the European Sustainability Reporting…
As society continues to increasingly adopt generative AI, new products designed with the express purpose of aiding lawyers in their daily work are launching in the market. These developments are of particular interest to those working within the personal injury bar. This article from The Legal Intelligencer provides an in-depth view of this recent development….
The legal industry is witnessing an uptake in the use of modern experience platforms in business operations. Experience Management (XM), as it is often referred, is increasingly being recognized for its potential benefits for law firms and their clients. Renowned Knowledge Management professional, Rachel Shields Williams, Director of Knowledge Management Enablement & Insights at Sidley…
While artificial intelligence (AI) may be a fairly recent addition to tech stacks generally, M&A lawyers are quite accustomed to this form of technology. Having been incorporated into their utilities for some time, near about a decade now, AI is not a newcomer in the world of mergers and acquisitions law. The increase of AI…
In June 2023, the Australian government issued an updated Statement of Expectations to the Australian Prudential Regulation Authority (APRA). The statement mandates the APRA to adopt climate reporting standards, primarily focusing on promoting prudent practices and transparency for climate-related financial risks. This new mandate includes monitored financial institutions and regulated entities within its scope. The…