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New Favorable Qualified Small Business Stock Guidance for Fintechs and Insurtechs
Hanson Bridgett LLP, April 2021

On April 9, 2021, the IRS released Private Letter Ruling (PLR) 202114002 (January 13, 2021), which provides additional context to taxpayers worried about whether their Fintech or Insurtech shares represent Qualified Small Business Stock (QSBS) under Internal Revenue Code (IRC) section 1202...

Mamo TCV Newsletter - March 2021
Mamo TCV Advocates, April 2021

Banking & Finance ESAs issue joint supervisory statement on the application of the Regulation on Sustainability-related disclosures in the Financial Services Sector (SFDR) ESAs issue recommendations on the application of the SFDR...

Is it Time for the Resign of the E-Sign “Reasonable Demonstration?”
Bradley Arant Boult Cummings LLP, April 2021

The E-Sign Act was signed into law over two decades ago. To put that into context, smart phones as we know them did not exist—the most popular mobile phone in 2000 was a flip phone, the Nokia 3310, and the first iPhone would not debut for another seven years. The most popular website was AOL because many people were still using AOL as their internet service provider. Google was a fledgling company with its search engine just starting out among the mainstays like Excite and Lycos...

Legislative Proposal on Health Technology Assessment
PLMJ, April 2021

On 24 March 2021, the EU Member States agreed to begin negotiations with the European Parliament concerning a legislative proposal on health technology assessment. Health technology includes medicinal products, medical devices or medical and surgical procedures, as well as measures for disease prevention, diagnosis or treatment used in healthcare...

United States Supreme Court Exempts Certain Technology from the TCPA
Dinsmore & Shohl LLP, April 2021

In Facebook v. Duguid, (Case No. 19-511) on April 1, 2021, the United States Supreme Court unanimously confirmed that equipment without the capacity to randomly or sequentially store or produce numbers is not an autodialer for TCPA purposes. The Facebook ruling focuses on text messages, which many institutions are using as a primary method of customer contact, but it is also a victory for those using predictive dialers and preview dialers without random and sequential source codes...

Why Some Data Subject Request Services Create Compliance Concerns
Bradley Arant Boult Cummings LLP, March 2021

If you are responsible for handling data subject requests made pursuant to the EU General Data Protection Regulation or verified consumer requests made pursuant to the California Consumer Privacy Act, chances are you have come across one or more of the myriad companies that purport to be advocating for consumers in making requests on their behalf. These companies include Mine, Privacy Bee, DeleteMe and Revoke...

Hyperlinking and Copyright Law: Effective Technological Measures are the Key
ALTIUS/Tiberghien, March 2021

The Court of Justice of the European Union has given a welcome answer to the question of under what circumstances embedding, by means of the technique of framing, should be regarded as a communication to the public that requires the copyright holder’s prior authorisation. In doing so, it has decided not to follow Advocate General Szpunar’s proposed approach (discussed here)...

Online Intermediation Services: New Law for Implementing the Platform-to-Business Regulation
Arendt & Medernach, March 2021

On 14 March 2021, the law of 5 March 2021 on certain rules for the implementation of Regulation (EU) No 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting fairness and transparency for business users of online intermediation services (the “P2B Regulation”) (hereinafter the “Law”) entered into force...

Real Estate IHL Series – Virtually Effective
Shoosmiths LLP, March 2021

The legal and practical issues that arise when executing documents electronically with a focus on practical points to consider and pitfalls to avoid. This is quite a hot topic at the moment with businesses having to continue to operate during lockdown...

Studios and Designers: How to Protect the Intellectual Property of your Video Games?
Lavery Lawyers, March 2021

Behind every video game, there is intellectual property (IP) which is worth protecting to optimize monetisation of the game. As discussed in Studios and designers: Are you sure that you own the intellectual property rights to your video games, the first step for studios and designers is to make sure that they own all IP rights on the video game...

Division of Examinations, Feb. 26, 2021: Continued Focus On Digital Asset Securities
Dinsmore & Shohl LLP, March 2021

The SEC Division of Examinations issued a Risk Alert on Feb. 26, 2021, providing the Division’s observations made during examinations of investment advisers, broker-dealers and transfer agents regarding digital asset securities. For purposes of the Division, digital asset securities are those digital assets that are securities...

Democratising Luxury
TSMP Law Corporation, March 2021

Asset tokenisation is poised to tear down the high barriers to luxury investments.  Imagine you are a whisky aficionado. Having witnessed rare Scotch trounce many investments over the past 10 years, you are eager to jump on the bandwagon. It is, after all, a complementary way to fund an expensive hobby; according to industry watcher Rare Whisky 101’s Rare Whisky Icon 100 Index, UK auction prices of 100 iconic collectors’ bottles have almost quadrupled since 2012...

China’s AI Patent Explosion
Deacons, March 2021

Did you know? In 2019, China surpassed the United States and Japan in the number of worldwide artificial intelligence-related patent applications. A majority of the patent filings related to data processing systems and data information transmission...

Shoosmiths Shares Advice for GCs Implementing Legal Tech for the First Time in The Lawyer
Shoosmiths LLP, March 2021

WSG member Simon McArdle, Partner at Shoosmiths, shares his advice for GCs looking to implement tech for the first time, his predictions around the next big thing in legal tech and how to ensure that the legal system and/or tech you invest in doesn’t get retired and replaced shortly after...

Law on Electronic Media Amended to Meet Today's Audiovisual Needs
Arendt & Medernach, March 2021

LAW OF 26 FEBRUARY 2021 AMENDING THE LAW OF 27 JULY 1991 ON ELECTRONIC MEDIA AND IMPLEMENTING DIRECTIVE (EU) 2018/1808 (THE "AUDIOVISUAL MEDIA SERVICES DIRECTIVE") The law of 26 February 2021 amending the law of 27 July 1991 on electronic media (the “Electronic Media Law”) and implementing the Audiovisual Media Services Directive was adopted on 26 February 2021 to implement (faithfully) the so-called Audiovisual Media Services Directive...

David McCombs, Eugene Goryunov, Dina Blikshteyn and Roy Falik in Bloomberg Law: ‘COVID Testing and Patentability’
Haynes and Boone, LLP, March 2021

In September 2020, a team of MIT researchers published a paper in the IEEE Open Journal of Engineering in Medicine and Biology, testing the hypothesis that coronavirus carriers—even asymptomatic ones—could be accurately detected using artificial intelligence (AI) based on only a phone recording of a forced cough.If this hypothesis is correct, the COVID-19 test can be accessible to people worldwide...

Virginia Becomes 2nd State to Adopt a Comprehensive Consumer Data Privacy Law
Dinsmore & Shohl LLP, March 2021

On March 2, 2021, Virginia Governor Ralph Northam signed the Consumer Data Protection Act (CDPA or law) into law. This makes Virginia the second state, behind California, to adopt a comprehensive consumer data privacy law. Like the California Privacy Rights Act (CPRA) and EU General Data Protection Regulation (GDPR), the CDPA creates a number of privacy obligations for businesses and gives Virginia consumers more control over their personal data. The CDPA takes effect on Jan...

Kalifa Review of UK Fintech: Should New Zealand Take a Similar Approach?
MinterEllisonRuddWatts, March 2021

he recently published “Kalifa Review of UK Fintech” (Kalifa Review) is the result of an independent review that began in July 2020, with the objects of supporting growth and widespread adoption of fintech in the UK, and maintaining the UK’s global fintech reputation...

Data Security Law Blog Digest
Patterson Belknap Webb & Tyler LLP, March 2021

In an effort to keep our readers up-to-date on the latest developments in cybersecurity law and regulation, we are pleased to share an overview of our team’s recent blog posts. We periodically send updates compiling links to our most recent blog posts and news. If you do not wish to receive email updates, please email Marketing to be removed from the distribution list...

Telehealth Fraud and Abuse: What’s Next in Compliance and Enforcement for Healthcare’s Hottest Area?
Bradley Arant Boult Cummings LLP, February 2021

In 2020, telehealth went from promising ancillary issue to center stage in the healthcare industry. Regulators and law enforcement took notice. With enforcers’ attention now squarely on telehealth fraud and abuse, telehealth providers and companies are poised to be among the main targets for civil and criminal enforcement in the coming years. Webinar Recording Key Takeaways Telehealth is a key enforcement priority for federal and state enforcement agencies, including the U...

Agile Implementations and Legacy Systems – A Pyrrhic Victory for the Co-Op?
Shoosmiths LLP, February 2021

The recent CIS v IBM decision touches on two topical issues in IT disputes: maintenance and replacement of legacy systems, and  use of agile implementation methodologies.  It is also a useful reminder of some important basics regarding the management of troubled IT projects. The case and the issues The claimant (Co-op) was the insurance business of the Co-op group...

How Could Cryptocurrency Affect Divorce?
Shoosmiths LLP, February 2021

Earlier this month, Elon Musk revealed that Tesla, the electric car company run by the world's richest person, had bought $1.5bn (£1.1bn) in bitcoin and might soon also accept payment in the popular but controversial cryptocurrency. News of Tesla’s investment boosted bitcoin, and while lately it dropped from its record high, it appears to be rebounding. Cryptocurrency investment continues to move into the mainstream as global interest rates remain at record lows...

Legal Developments in the Philippines: Focus on Data Privacy, Digital Banks and FinTech
SyCip Salazar Hernandez & Gatmaitan, February 2021

This bulletin is on recent Philippine legal developments in data privacy, fintech and digital banks. PRIVACY UPDATE Caring about Sharing: New Rules on Data Sharing Agreements On December 23, 2020, the Philippine data privacy regulator, the National Privacy Commission (NPC) issued NPC Circular No. 2020-03 on data sharing agreements (2020 DSA Circular).1 The circular supersedes NPC Circular No...

Financial Stability Institute (“FSI”) Publishes Bank for International Settlement (“BIS”) Research Paper on Fintech Regulation
Deacons, February 2021

The FSI has published the BIS’s research paper titled “Fintech regulation: how to achieve a level playing field” in February 2021 (the “Paper”). The Paper explores how regulation should evolve to encourage fair competition between traditional banks and new fintech and big tech players...

Electronic Certificates Regulation issued by the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency
Makarim & Taira S., February 2021

On 12 January 2021, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency (“MOA”) issued Regulation No.1 of 2021 on Electronic Certificates (“MOA Reg. 1/2021”). This new regulation is intended to optimize the use of information and communication technology by implementing electronic-based land services and thus improve public services and the ease of doing business. Under MOA Reg...

 

 

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