Contents Legal and Enforcement Framework Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? The primary regulatory regime to consider in the Cayman
In 2017, the Cayman Islands passed the Data Protection Law (“DPL”), which reads much like the upcoming European Union General Data Protection Regulation (“GDPR”) that goes into effect Mary 25, 2018. The DPL applies to entities falling within the definition of “data controller” who are established in the Islands or who process data in the Islands. The DPL divides data into two categories, personal data and sensitive data ...
Data protection in the United States is about to undergo a major change, and everyone needs to be ready. The California Consumer Privacy Act (CCPA), signed into law June 28, 2018, enters into effect Jan. 1, 2020. It creates several new obligations for many United States-based businesses with regard to the collection, treatment, and sale of personal information ...
The installation of CCTV cameras is a highly emotive and controversial issue in many countries. Hong Kong’s data privacy law does not contain any specific provisions regarding the use of CCTV, although the Privacy Commissioner (PC) has issued guidance on CCTV surveillance and the use of drones ...
Canadian Lawyer By Tim Wilbur Cecilia Barnes knew from an early age she wanted to be in business. She entered law school so she could work with entrepreneurs and business executives. When Barnes looked for opportunities after graduating, she focused on working in-house. “I thought, I've taken all of these courses in business and trademark and copyright. So, any company is going to be so excited to have me ...
Protected Cell Companies A Guernsey protected cell company (“PCC”) is a single legal entity. It is one company with one board of directors, one memorandum and articles of incorporation and one company registration number. A PCC comprises a core and any number of cells. Assets which are not comprised in a cell are deemed to be comprised in the core. No regulatory or filing processes are required to create a cell of a PCC ...
April 27, 2022 By: Michael Flynn On April 25, the CFPB announced that it is invoking an aspect of its oversight authority to enable it to supervise and examine certain nonbank lenders when it determines the company’s activities and products pose a risk to consumers. The announcement highlights the CFPB’s intent to more closely supervise at least some FinTech companies and other nonbank consumer financial services providers, comparable to its supervision of banks ...
July 20, 2022 By: Michael Flynn* Amidst its increased activity in many different areas, the CFPB recently focused on credit reporting responsibilities under the Fair Credit Reporting Act (FCRA) by issuing an advisory opinion. The CFPB highlighted and set out some specific key points regarding credit reporting responsibilities and prohibitions, and offered a reminder about criminal liability under various provisions in the FCRA ...
September 6, 2022 By: Michael Flynn* Continuing a recent trend, the CFPB has asserted that its oversight authority regarding unfair, deceptive, and abusive practices (UDAAP) to assert that certain digital marketers, including what it refers to as “Big Tech,” face potential UDAAP liability and oversight from the CFPB ...
March 31, 2023 By: Michael Flynn and Brett Voets On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued the long-awaited final version of its rules on Small Business Lending under the Equal Credit Opportunity Act.[1] The new rule imposes significant burdens and risks on lenders, and will likely result in significant amounts of loan-related data being made public, as discussed below ...
The Commodity Futures Trading Commission (CFTC) has clarified the priorities and expectations when a designated contract market (DCM) or swap execution facility (SEF) lists new virtual currency derivatives or when a derivatives clearing organization (DCO) clears virtual currency derivatives. Background and Key Terms The CFTC is an independent federal agency that administers the Commodity Exchange Act, which regulates transactions in commodity interests ...
Legal directory Chambers and Partners has today launched Global LawTech 2022, ranking Shoosmiths8 Connected Services Cia® and Matters+ as band one products. This global guide is part of Chambers’ professional advisor series and is its second report on the rapidly moving legal technology sector ...
Overview and Outlook for Fintech in 2020 Technology continues to redefine our expectations in almost every area of our lives and shape the way we interact with the world ...
A comment posted on social media last week in South Africa said, “It is only a Coup when it originates from the Coup d'état region in France. Otherwise it is just sparkling insurrection”. For those who are not aware, South Africa has had a few disruptive weeks with violent protests and looting. In-between the angst and sadness, there was still time for a dig at Geographical Indications (“GIs”) ...
The United States Patent and Trademark Office has published its first major update to the rules for trademark trials and appeals in nearly a decade. The final changes to the Trademark Trial and Appeal Board (“TTAB”) Rules of Practice appear in the October 7, 2016 Federal Register (81 Fed. Reg. 69950) and are scheduled to go into effect on January 14, 2017 ...
In this article, we provide a brief overview of the most important new rules applicable to Hungarian data protection laws after 1 October 2015. BCRs accepted after 1 October 2015 Binding corporate rules (BCR) have so far not been recognized by Hungarian law and, thus, could not be used whenever personal data were transferred to a non-EEA country ...
On September 1st. 2022, amendments to the Federal Law 'On Advertising' of 13.03.2006 N 38-FZ (the 'Advertising Law') came into force. Now, advertisements on the Internet are subject to mandatory labeling and registration, which significantly complicates such advertising on the Internet, in Russia ('online advertisement'). In this regard, we present you an overview of the key changes, that companies need to take into account, when distributing online advertisements. Download the overview ...
On 1 March 2012, Google launched a new privacy policy by consolidating over 60 of its global privacy policies into one document. The new privacy policy does not indicate that Google will collect any new or additional data about users. What it does do, however, is inform people that Google will merge data which it already collects from services such as YouTube and Web History (which records all searches performed on Google ...
From 6 April 2022, the way right to work checks are conducted is changing. Virtual or “adjusted” right to work checks will no longer be acceptable Virtual checks were only ever intended as a temporary concession because of the pandemic. While they have been repeatedly extended throughout the pandemic, the Home Office is adamant that they will end once and for all, with 5 April 2022 being the final date on which they can be validly conducted ...
Bradley attorneys Heather Howell Wright, Elizabeth R. Brusa and Andrew Tuggle authored chapter 12 of A Practical Guide to Cyber Insurance for Businesses. This book is a practical guide for insurance brokers, underwriters, risk managers and businesses as each of these constituencies work with each other to choose the right cyber insurance product for commercial businesses ...
The data protection landscape has seen significant change and more is expected. What does that mean for charities specifically? On our 8 July, 2021 webinar Shoosmiths’ Partner, Sarah Tedstone, identified areas with significant change already and where action will be needed in the next few weeks and months to stay compliant ...
ChatGPT is promising (or threatening) to reinvent the way people work in a multitude of industries. How will this transformation affect the legal industry - are there risks to using it? ChatGPT is an artificially intelligent language model designed to give human-like responses to various questions and prompts. Released by OpenAI in November 2022, the platform quickly gained immense popularity, reaching over one million users within five days of its release ...
Data privacy professionals have characterized the data privacy risks associated with ChatGPT as a “nightmare.” In order to function, open artificial intelligence programs (“OpenAI”) like ChatGPT require huge amounts of data in order to learn and evolve. Where do the programmers get that data? From you and me without our knowledge or permission ...
The CyberDay event from May 30th to June 1st, 2022, will be the first event in which the new obligations contained in the reforms to Law No. 19,496 on Consumer Rights Protection, introduced by the "Pro-Consumer" Law and the Electronic Commerce Regulation, will be applied. The following are the main aspects and obligations to be taken into consideration for the event: Promotions, offers, contests and sweepstakes must disclose the terms and conditions governing them and their term of duration ...
In the CyberMonday event, from October 3 to 5 2022, will be fully in force the reforms to Law No. 19,496 on Consumer Rights Protection in the field of e-commerce, introduced mainly by the "Pro-Consumer" Law and the Electronic Commerce Regulation. The following are the main aspects and obligations to be taken into consideration for the event: Promotions, offers, contests and sweepstakes must disclose the terms and conditions governing them and their term of duration ...
