After two years of review, the Office of the Comptroller of the Currency (OCC) recently announced that it will begin accepting applications for special purpose national bank charters from financial technology (fintech) companies. The OCC’s announcement came hours after the Treasury Department endorsed the approach ...
Australasian Lawyer By Lucy Saddleton 04 Feb 2023 In-house counsel are demanding that their external law firm partners are using the latest technology, with 92% saying it is either very or somewhat important in a recent survey providing global insights on trending legal technologies and how in-house counsel leaders are adopting, integrating, and utilizing technology ...
In the words of its own Attorney-General, Australia's privacy laws were “out of date and not fit-for-purpose”. After recent amendments, they now stand to contain one of the world’s toughest data breach penalty regimes. So, what has changed? Fines The Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022 (the “Bill”) received Royal Assent on 12 December 2022 ...
The Australian life sciences and biotech sector is likely to continue its resurgence over the next twelve months, with global trends driving strong M&A activity in life sciences and biotech M&A. We have identified 6 key themes for activity in this sector. Three Key Opportunities 1. Demographic Trend According to the Australian Institute of Health and Welfare, healthcare expenditure in Australia is growing faster than population growth and GDP growth ...
The Australian life sciences and biotech sector is likely to continue its resurgence over the next twelve months, with global trends driving strong M&A activity in life sciences and biotech M&A. We have identified 6 key themes for activity in this sector. Three Key Opportunities Demographic Trend According to the Australian Institute of Health and Welfare, healthcare expenditure in Australia is growing faster than population growth and GDP growth ...
The Australian life sciences and biotech sector is likely to continue its resurgence over the next twelve months, with global trends driving strong M&A activity in life sciences and biotech M&A. We have identified 6 key themes for activity in this sector. Opportunities and Challenges – 6 Key Themes Three Key Opportunities 1 ...
The General Provisions referred to in Article 58 of the Law to Regulate Financial Technology Institutions (“Fintech Law”), Circular 12/2018 addressed to the Electronic Payment Funds, relative to the general provisions applicable to the operations of the Electronic Payment Funds and the General Provisions applicable to the Financial Technology Institutions (“Fintechs”), were published in the Federal Official Gazette (Diario Oficial de la Federación) on Septembe
The Automated Vehicles Act (the Act) regulates the marketing of self-driving vehicles, prohibiting the use of misleading terminology or communications that could confuse consumers. In this article Ben Gardner explores how the use of terminology that could mislead consumers will be regulated. The Act has now received Royal Assent and creates a regulatory framework which applies to the deployment and use of automated vehicles on UK roads ...
The Automated Vehicles Act has received Royal Assent after a smooth and quick passage through parliament. In this article, Ben Gardner outlines what organisations in the sector can expect to happen next. What is the Automated Vehicles Act? The Act lays the foundations for the future deployment of automated vehicles on public roads ...
The Automated Vehicles Act (the Act) creates a licensing and permitting scheme for operators that intend to use automated vehicles to offer transportation services for passengers and goods. In this article Ben Gardner outlines what potential operators need to consider ...
With the recent enactment of Bill 165, An Act to amend the Highway Safety Code and other provisions1, the driving of autonomous vehicles in Quebec is finally regulated, although a number of uncertainties remain. Indeed, the driving of autonomous vehicles of automation level 3, such as Tesla’s model X equipped with an improved guidance system, is now permitted in Quebec ...
The world stands at the threshold of a new age. Self-driving cars have hit the streets and created the knock-on collision of technology and the law. Autonomous transportation presents a network of complex problems that have to be addressed before we can safely strap ourselves into a vehicle without a driver. August 2016 saw the implementation of the world’s first self-driving taxis in Singapore ...
Technological advancements coupled with a desire to reduce inefficiencies in the workplace, has led to an increase in the use of artificial intelligence (AI) by employers, typically in recruitment and performance management. Data protection considerations However, employers need to be aware of their data protection obligations and great care is needed when contemplating the use of AI processes to make decisions without human involvement ...
Battery as a Service (BaaS) allows customers to keep their vehicles charged up and running, without recharging the drained-out batteries. The concept allows customers to lease out batteries as a separate component from the car, on a subscription based model, and swap it for a fully charged one as and when it depletes power. Last year Shoosmiths published a report highlighting the benefits of the BaaS business model, driven by the increasing use of battery storage technology ...
Back to 2020 - Forward to 2021 2020 was a busy year – and a uniquely challenging one to say the least. Legal and regulatory changes, many of them linked to the COVID-19 crisis, have impacted your business and will continue to impact it in the new year. That is why we are pleased to provide you with an overview of the major recent legal and regulatory developments that have taken place under Luxembourg and EU law ...
One of the latest and widely discussed GDPR fines in the amount of approximately EUR 20,000 was imposed in Sweden for face recognition in schools. The municipality tried using the new technology to make monitoring the attendance of schools easier. Nevertheless, it failed to ensure a legal basis and proper impact assessment for such data processing ...
As rapid technological changes in the 21st century continue to expand the types and volume of private electronic information, the Fourth Amendment’s privacy protections are evolving. Originally, “Fourth Amendment jurisprudence was tied to common-law trespass” and provided protections against searches of property. See, United States v. Jones, 565 U.S. 400, 405 (2012) ...
Decree-Law 36/2021, which amends Decree-Law 176/2006 of 30 August ("Medicines Statute"), was published on 19 May. The new Decree-Law introduces a ban on the advertising of discounts on the price of medicines subject to medical prescription that are reimbursed by the National Health Service ("NHS") or that contain narcotic or psychotropic substances ...
The regulation on the national payment gateway has finally been issued. Bank Indonesia (“BI”), through its regulation No. 19/8/PBI/2017 (“PBI 19/8”) aims to establish national payment system interoperability by implementing switching interconnectivity. The following is a general overview of PBI 19/8 ...
1. Background and Rationale The Thai financial market has been revolutionized by rapid changes in technology, particularly, with the advent of distributed ledger technology (“DLT”) and digital assets in recent years. This has led to a surge of interest from traditional investors and corporate entities, both small and large, eager to participate in this dynamic market. These technologies have been driving financial innovation and progress ...
IP landscape While the world is in the grip of the deadly COVID-19 pandemic, the patenting of pharmaceutical and biological compositions and the launch of generic products is even more hotly debated than before, particularly in the world's developing and least-developed countries ...
The value of the car is no longer merely associated with the car body, its engine or other material parts. Substantial value is found in the knowledge that controls the car – knowledge that does not only steer the car, but which may form the basis for maintenance and repairs planning, computing insurance premiums or indicating who is liable in the case of damage ...
