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…
In the complex world of international law, each nations’ unique legal environment can pose distinct challenges for foreign residents and enterprises. An exemplar of this complexity can be found in the legal landscape of Kazakhstan. A comprehensive report available on JD Supra outlines the intricacies of Kazakhstan law as it pertains to non-residents and foreign…
The Committee on Foreign Investment in the United States (CFIUS or the “Committee”) has witnessed a significant uptick in the deployment of mitigation strategies in 2022, according to its newly published Annual Report. The report provides key insights and statistical analyses, showing an overall trend of the Committee taking longer to finish its reviews and…
The U.K. Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), and Bank of England have jointly published a revised version of their Complaints Scheme. This updated scheme outlines how complaints against these prominent U.K. authorities should be submitted and processed. This is a significant update from the previous version of the scheme, featuring several important…
The Federal Communications Commission (FCC) has recently proposed a series of modifications to its requirements for reporting the ownership of companies that provide regulated international telecommunication services, in an effort to improve safeguards against potentially harmful foreign interests. The prospective changes come as the FCC’s focus on the security of the US telecommunications network has…
The U.S. Environmental Protection Agency (EPA) has announced the launch of a new webinar series. This initiative is a result of their partnership with the PETA Science Consortium International (PSCI), Institute for In Vitro Sciences (IIVS), and the California Department of Pesticide Regulation (CDPR). According to JDSupra, these quarterly webinars will center on the use…
In an important development for the legal professionals working in multinational corporations and international law firms, President Biden signed a new executive order on August 9, dealing with United States investments in certain national security technologies and products in the so-called “Countries of Concern.” This came after months of in-depth deliberations. The detailed report can…
Internationally recognized law firm Gunderson Dettmer has announced the release of its new artificial intelligence-based chat app, named ChatGD. As a tool developed within the U.S., this launch cements Gunderson Dettmer as the first U.S.-based firm to create a proprietary tool leveraging generative AI technology. Interestingly, it may represent the first instance globally where such…
The September 2023 Visa Bulletin, recently released by the U.S. Department of State, unveiled minimal fluctuations from the previous month, ending the fiscal year 2023 on a stagnant note. As legal professionals dealing with immigration cases and counsel for international corporations, it’s vital to stay updated with these changes. The Visa Bulletin is a crucial…
The U.S. Committee on Foreign Investment in the United States (CFIUS) has recently published its Annual Report for calendar year 2022. This important update highlights a range of trends and developments that have unfolded in the last year. Most notably, the report has exhibited a slight elevation in the number of filings for 2022 setting…
Despite mounting privacy concerns, India’s Digital Personal Data Protection Bill of 2023 has successfully passed both the upper and lower houses of Parliament. The proposed legislation still has one final hurdle to clear, needing approval from the Indian president before it may officially be recognized as law. Details of the proposed legislation and concerns associated…
For the diligent corporate legal professional keeping an eye on international investment, the Committee on Foreign Investment in the United States (CFIUS) should be a familiar acronym. CFIUS, nested within the U.S. Department of the Treasury, plays a vital role in examining and overseeing foreign investments into U.S. businesses. Its annual report, released on July…
In the world of corporate law, July 2023 saw quite a number of substantial regulatory developments, particularly with respect to Environmental, Social, and Governance (ESG) factors. The most significant was the European Commission’s adoption of the Commission Delegated Regulation. This introduced the initial set of European Sustainability Reporting Standards (ESRS), alongside a related Q&A as…
Mishcon de Reya has announced the addition of Liz Hunter, a non-lawyer partner and expert in incentives, to its London incentives practice. Hunter joins the firm after nearly five years with the international accountancy firm KPMG, where she served as director of equity reward and tax. With experience at several international accountancy firms, including Mazars,…
In a recent move, DLA Piper has hired renewables partner, Luke Westmore from PwC, marking the second legal heavyweight exiting PwC this month. Reports confirm that Westmore will be part of DLA Piper’s projects and infrastructure team in Sydney. With a commendable track record of 15 years in the industry, Westmore specializes in large-scale renewable…
AstraZeneca’s cancer drug Calquence, has weathered a significant challenge by dodging a review by the Patent and Trial Appeal Board (PTAB). Calquence, a pharmaceutical drug that has accounted for more than $2 billion in sales for AstraZeneca the previous year, is clearly a high-valued asset for the international pharmaceutical company. The legal confrontation had commenced…