Artificial intelligence continues to permeate the legal sphere with ever-increasing speed and sophistication. Several innovative AI products have been making waves in UK law firms, with a focus on “Generative AI”– technology capable of producing new content based on initial data input. Harvey and ChatGPT are among the generative AI technologies that are gaining significant…
In this week’s legal news, at least three lawsuits, two of which are class action suits, have been filed against Hawaiian Electric Co. in the wake of this month’s devastating wildfires in Maui. These developments come amidst growing concerns surrounding multinational conglomerate 3M’s settlement resolving PFAS contamination in sources of drinking water, which is now…
In a strategic move addressing national security concerns, the Biden Administration has issued a long-anticipated Executive Order regarding investments in Certain National Security Technologies and Products in “Countries of Concern”. Expected to trigger a new outbound investment review regime, the Order is set to impose compliance obligations for U.S. investors, specifically within high-technology industries with…
In a ruling that could send shockwaves through the financial sector, several major financial institutions and their affiliates were recently hit with fines totaling $549 million. This decision was handed down by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and related to the parties’ failure to uphold proper…
The issue of non-compete clauses currently raises a tidal wave of debate on both sides of the Atlantic. As laws surrounding these provisions are shifting, businesses in both the United Kingdom and the United States are maneuvering through potentially unpredictable territory. Non-compete provisions, typically imposed by employers to prevent employees from working for a competitor…
On July 27, 2023, US federal banking regulators issued highly important proposals that set to reshape the landscape of banking regulations in the United States. The first proposal aims to significantly revise the risk-based regulatory capital requirements for certain midsize and larger US banking organizations, referred to as the “Capital Proposal”. The second initiative proposes…
The venture capital scene in the life sciences sector presents investors with a high-risk, high-return proposition. Primarily, investors often encounter challenges such as limited sources of revenue and capital, especially with early-stage companies often without products on the market yet. That being said, these challenges come alongside significant opportunities, including the potential for expansion into…
Internet technology giant Google has released plans to establish an office in Thompson Center, Chicago, with the aim to commence operations by 2026. The upcoming move, anticipated by many as a potential catalyst for the revitalisation of downtown Chicago, has created a buzz amongst industry professionals and city planners alike. The multinational tech company has…
In a noteworthy move that has the potential to affect federally funded research at US institutions of higher education, a new set of risk-based security requirements has recently been introduced. The driving force behind these changes is the protection and promotion of key American values and interests. Recognizing the critical importance of international cooperation in…
Significant developments were marked in the U.S.-China policy front this August 2023, driving major interests amongst legal professionals and international investors alike. These policy updates imply consequences on a wide-range of legal and business operations across multinational corporations and big law firms. The most notable of these policy changes includes President Joe Biden issuing a…
The Committee on Foreign Investment in the United States (CFIUS) has recently released its statutory annual report for the calendar year 2022. This unclassified edition of the report – issued on July 31, 2023 – offers an overview of crucial trends within the realm of inbound foreign investment reviews by the U.S. government. The report…
In the rapidly evolving world of corporate law, staying ahead requires not just understanding the existing regulations, but also being able to anticipate and handle new legal frameworks. Furthering this knowledge is an indispensable webinar titled ‘Mastering the Art of Prior Disclosures: Uncover Hidden Strategies and Avoid Pitfalls’. Taking place on the 29th of August…
Rhissa Ag Boula, a former rebel leader and politician in Niger, launched a resistance movement on Wednesday known as the Council of Resistance for the Republic (CRR). This new group seeks to resist the junta that assumed power following the July 26 coup, with the overall aim of restoring former President Mohamed Bazoum to power….
On August 9th, 2023, a significant shift was seen in US trade policy with China, including Hong Kong and Macau, when President Joe Biden signed an Executive Order. This Order has set the outline for investment restrictions in these regions, displaying a new approach in matters of global trade and national security. The Executive Order…
UN High Commissioner for Human Rights Volker Türk has concluded his visit to Iraq, expressing concerns that Iraq’s water crisis may have widespread regional implications. The situation necessitates proactive measures from all countries to manage water resources as a global public good. This marked the first-ever visit to Iraq by a UN High Commissioner for…
Recent developments in both the UK and the European Union following the Brexit transition have led to significant fluctuations in the application and interpretation of the Markets in Financial Instruments Directive (MiFID) II and Markets in Financial Instruments Regulation (MiFIR). In the UK, amendments have been conducted under the European Union (Withdrawal Agreement) Act on-shoring…
In April 2021, the European Commission proposed a comprehensive legal framework on artificial intelligence (AI). The primary objective of this legislation is to regulate the use and development of AI in the European Union (EU). Known officially as the European Union Artificial Intelligence Act, or EU AI Act, it is expected to pass later this…
In a notable development, the EU Commission disseminated new Frequently Asked Questions (FAQs) on the evening of 2nd August 2023, concerning oil importation activities in the EU’s territorial waters. Two significant FAQs have been released, particularly emphasizing Ship to Ship (STS) operations involving Russian oil and petroleum products. The EU Commission’s new FAQs can be…
The term “indirect tax” has a broad application, describing taxes imposed on goods, land, or services, (or transactions involving said commodities). This is distinct from “direct taxes”, which are levied upon income or profits. In the context of the Build-to-Rent (BTR) sector, the most substantial indirect taxes are the goods and services tax (GST), transfer…
In a recent landmark ruling, the California Court of Appeal for the First Appellate District has made it clear that business-related expenses incurred by employees are potentially reimbursable. This is the case even if they aren’t directly triggered by the employer, but are instead a direct consequence of carrying out their roles. This decision was…
The COVID-19 pandemic has introduced a multitude of uncertainties in the legal landscape, particularly in the area of remote work and worker’s rights. A recent case heard by the District of New Jersey prompts an elaboration on this ongoing conversation – the specific issue at hand? How to apply state discrimination laws to remote employees…
As the demand for privacy professionals continues to surge, industry professionals and companies alike, are keen to understand where the highest-paying privacy jobs exist. According to a recent webinar highlighting research findings from the 2023 IAPP Privacy Professionals Salary Survey, organizational size appears to be a crucial factor in determining compensation for these roles. The…
On July 11, 2023, the United Kingdom enacted the Foreign Influence Registration Scheme (‘FIRS’). Embedded as part of the National Security Act of 2023, FIRS is a compliance obligation that bears strong parallels to the United States’ Foreign Agents Registration Act (‘FARA’). Although the UK and US policy frameworks have distinct intricacies, the core objective…
Dentons, a multinational law firm, has chosen to conclude its collaboration with Dacheng Law Offices, which is the mainland China branch of the company. The firm cited the reason for this decision as changes in the legal regulations facing Chinese law firms in China. New directives and requirements concerning data privacy, cybersecurity, capital control and…
Global trade laws and customs regulations continuously undergo changes, presenting unique challenges for multinational corporations and firms involved in import and export. Successfully navigating these challenges is crucial for maintaining compliance and avoiding legal complications. From a legal perspective, any organization involved in international trade must be familiar with customs, including common red flags and…