The Bank of England considers the latest wave of AI developments to be a “step change” for financial modelling that brings substantial opportunities as well as risks.
AI governance is a developing field and financial...more
FTC and DOJ Reach US$2.95 Million Settlement with Verkada for Alleged Violations of the FTC Act and CAN-SPAM Act -
On August 30, 2024, the Federal Trade Commission (“FTC”) announced a proposed order with Verkada Inc....more
9/27/2024
/ Amicus Briefs ,
Arbitration Agreements ,
Artificial Intelligence ,
CAN-SPAM Act ,
COPPA ,
Cyber Attacks ,
Cybersecurity ,
Department of Health and Human Services (HHS) ,
Department of Justice (DOJ) ,
Ethics ,
EU ,
European Commission ,
Facial Recognition Technology ,
Federal Trade Commission (FTC) ,
FTC Act ,
General Data Protection Regulation (GDPR) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Human Rights ,
Online Reviews ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Standard Contractual Clauses ,
UK ,
Web Tracking
The Labour Party has indicated an intention to implement specific regulation in relation to AI in the UK. However, the manifesto on which the party has won power, did not propose any general AI legislation. New legislation...more
DORA became law in December 2022 but provides for a grace period until 17 January 2025 for organisations to put in place the necessary measures to comply.
The new rules will require engagement from both an operational and...more
3/7/2024
/ Asset Management ,
Audits ,
Cryptoassets ,
Cybersecurity ,
Enforcement ,
EU ,
European Commission ,
European Supervisory Authorities (ESAs) ,
General Data Protection Regulation (GDPR) ,
New Rules ,
Penalties ,
Reporting Requirements ,
Risk Management ,
Third-Party Risk ,
UCITS
An AI system cannot be named as the inventor in a UK patent application – the inventor(s) must be human.
Technical developments created by AI cannot be ‘inventions’ within the meaning of UK patent legislation. UK patent...more
1/25/2024
/ Artificial Intelligence ,
Authorship ,
Biden Administration ,
European Commission ,
European Patent Office ,
Executive Orders ,
Inventors ,
Patent Applications ,
Patent Litigation ,
Patent Ownership ,
Research and Development ,
UK Patent Act ,
UK Supreme Court ,
USPTO
FTC Settles with Rite Aid on its Use of AI and Processing of Biometric Information -
The Federal Trade Commission (“FTC”), on December 19, 2023, announced that it had reached a settlement with Rite Aid Corporation (“Rite...more
1/19/2024
/ Artificial Intelligence ,
Biometric Information ,
COPPA ,
Data Brokers ,
Data Retention ,
Enforcement Actions ,
Facial Recognition Technology ,
Federal Trade Commission (FTC) ,
FTC Act ,
Inventors ,
Notice of Proposed Rulemaking (NOPR) ,
Opt-In ,
Patents ,
Rite Aid ,
Sensitive Personal Information ,
Settlement ,
UK
As we begin the new year, we offer this special edition with predictions for 2024 from members of the Cyber Bits Partner Committee. Regardless of what happens in 2024, we renew our commitment to keep you informed of the...more
1/8/2024
/ Artificial Intelligence ,
Biometric Information ,
China ,
Consumer Privacy Rights ,
Cybersecurity ,
Disclosure Requirements ,
Enforcement ,
EU ,
Facial Recognition Technology ,
Machine Learning ,
Popular ,
Regulation S-P ,
Risk Management ,
Securities and Exchange Commission (SEC)
An English court has, for the first time, considered whether trained Artificial Neural Networks (“ANNs”) – a component of AI – could qualify for patent protection, or if they would fall under the computer program exclusion,...more
The Biden Administration Issues Executive Order on Artificial Intelligence -
On October 30, 2023, President Biden signed an Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence (the “Order”)...more
11/17/2023
/ Artificial Intelligence ,
Biden Administration ,
Chief Information Security Officer (CISO) ,
Cyber Crimes ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
NYDFS ,
Ransomware ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
SolarWinds
Clearview AI was issued with an enforcement action including a fine of around £7.5million and an order to delete certain data by the ICO for breaches of the UK GDPR in relation to its facial recognition data. The Tribunal...more
The UK Court of Appeal’s ruling in Wright and others v BTC Core [2023] EWCA Civ 868 offers valuable clarity on the 'fixation' requirement under English copyright law, particularly how UK courts are likely to apply this in...more
The UK has approved the UK-U.S. Data Bridge facilitating flows of personal data to U.S. entities that have self-certified to the EU-U.S. Data Privacy Framework (‘DPF’), provided that those entities extend their DPF...more
9/25/2023
/ Compliance ,
EU-US Privacy Shield ,
European Commission ,
European Court of Justice (ECJ) ,
Information Commissioner's Office (ICO) ,
International Data Transfers ,
Personal Data ,
Privacy Framework ,
Safe Harbors ,
Schrems I & Schrems II ,
UK ,
UK GDPR
WorldCoin is a cryptocurrency project which uses iris scanning technology to issue a “World ID” as a digital identifier. Privacy concerns over WorldCoin have been voiced by several data protection authorities worldwide....more
8/23/2023
/ Artificial Intelligence ,
Biometric Information ,
CNIL ,
Cryptocurrency ,
Data Protection ,
Data Protection Impact Assessments (DPIAs) ,
Data Security ,
Data Storage ,
EU ,
General Data Protection Regulation (GDPR) ,
HMRC ,
Information Commissioner's Office (ICO) ,
Popular ,
UK
In 2020, the UK Government asked the Law Commission to review the legal status of digital assets in England and Wales, with the aim of making the UK an attractive jurisdiction for crypto development and investment. The Law...more
The Department of Health and Social Care in the United Kingdom has published a proposed update to its policy regarding access to National Health Service (NHS) data for research purposes. The proposed update focuses on the...more
On 10 July 2023, the European Commission announced a major development1 in EU-U.S. personal data transfer relations by adopting a long-anticipated adequacy decision2 for the EU-U.S. Data Privacy Framework (“DPF”). The...more
7/12/2023
/ Court of Justice of the European Union (CJEU) ,
Department of Justice (DOJ) ,
EU-US Privacy Shield ,
European Commission ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
National Security ,
Policies and Procedures ,
Safe Harbors ,
Schrems I & Schrems II ,
Standard Contractual Clauses
The International Institute for the Unification of Private Law (UNIDROIT) has adopted draft Principles on Digital Assets and Private Law (the “Principles”). These Principles comprise legislative guidance and best practices in...more
The EU General Court has overruled the European Data Protection Supervisor and held that pseudonymised data will not be personal data for the purposes of EU data protection law when transferred to a recipient that is unable...more
Over the last six months, artificial intelligence (AI) has captured the public imagination in a way it never has before. A new generation of AI-powered language models make use of a deep learning architecture known as a...more
4/27/2023
/ Artificial Intelligence ,
Banking Sector ,
Broker-Dealer ,
CFTC ,
Cybersecurity ,
Due Diligence ,
ECOA ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Investment Adviser ,
Lending ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Software
A key pillar of the EU’s overhaul of the digital economy, the Digital Services Act (“DSA”), aims to harmonise rules for online intermediaries. It includes numerous new obligations for those businesses in scope which scale up...more
What is in store for Privacy and Cybersecurity in 2023 -
As the year ends, we offer this special edition with predictions for 2023 from each member of the Cyber Bits Partner Committee. Regardless of what happens in 2023, we...more
12/30/2022
/ Artificial Intelligence ,
California Consumer Privacy Act (CCPA) ,
Cyber Attacks ,
Cybersecurity ,
Disclosure Requirements ,
EU ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
Infrastructure ,
Investment Adviser ,
Popular ,
Privacy Laws ,
Privacy Legislation ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
State Data Breach Notification Statutes ,
UK ,
Whistleblowers
The High Court has granted the victim of a cyberattack a permanent injunction against cyberattackers without the victim organisation having to reveal its identity. Generally, a claimant's identity is public in court...more
This OnPoint summarises and draws together the proposals forming part of the EU’s strategies for data, digital and artificial intelligence. This is the first in a series of Dechert OnPoints that will cover these proposals in...more
8/11/2022
/ Artificial Intelligence ,
Cybersecurity ,
Data Management ,
Digital Marketplace ,
Digital Services ,
EU ,
European Digital Strategy ,
Innovative Technology ,
Internet ,
Online Advertisements ,
Popular
A recent High Court case relating to a trade mark licensing and merchandising agreement offers a timely reminder of the principles a Court will consider when determining whether a term should be implied into a commercial...more
The Dubai International Financial Centre’s ("DIFC") data protection authority has published its proposals for updated tools and guidance on international data transfers. A consultation on these proposals by the DIFC...more
5/5/2022
/ Cybersecurity ,
Data Protection ,
Data Protection Authority ,
Data Security ,
Dubai ,
International Data Transfers ,
Personally Identifiable Information ,
Popular ,
Regulatory Agenda ,
Regulatory Reform ,
Standard Contractual Clauses ,
United Arab Emirates (UAE)