News & Analysis as of September 20, 2024

European Union › Policies and Procedures

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Just a few months left before DORA enforcement: Time to Take Action

A&O Shearman on 9/10/2024

The Digital Operational Resilience Act EU 2022/2554 (DORA) constitutes a groundbreaking EU regulation designed to establish a unified framework for bolstering cybersecurity and operational resilience within the financial...more

AIFMD II 101: Part 1 - Loan-Origination

Walkers on 8/29/2024

On 15 April 2024, Directive 2024/927/EU ("AIFMD II") entered into force, which marked a significant milestone for the European asset management industry. AIFMD II will introduce a harmonised framework for loan-originating...more

EU Sets Key Artificial Intelligence Regulation Dates

Neal, Gerber & Eisenberg LLP on 8/6/2024

On August 1, 2024, the regulation of artificial intelligence (AI) took a major leap forward as the EU AI Act officially entered into force. While the Act is enforced within the EU, its extraterritorial scope has important...more

Personal Information Protection Act deep dive

Walkers on 8/6/2024

The Personal Information Protection Act ("PIPA") comes into full force on 1 January 2025. All organisations in Bermuda are expected to be in compliance with it by that date – time is running out! The Privacy Commissioner...more

EU Technical Standards on classification of ICT-Related Incidents, Contractual Arrangements Policy and Risk Management Tools...

A&O Shearman on 7/8/2024

The following three regulatory technical standards supplementing the Digital Operational Resilience Act have been published in the Official Journal of the European Union: - RTS on the criteria for the classification of...more

Understanding CSDDD: How the Corporate Sustainability Due Diligence Directive Could Impact You

Mitratech Holdings, Inc on 6/6/2024

Have you heard? The EU’s latest legislation, CSDDD, will directly apply to EU companies and non-EU companies operating in the EU internal market....more

Understanding How Generative AI Can Affect Your Business' Data Privacy And Ownership Is Crucial

Rumberger | Kirk on 5/13/2024

“In assessing a generative AI product, it is critical to understand issues of data ownership and privacy. This cumbersome task is necessary to learn how the AI platform will use data, if the data shared is entering an open or...more

Implementing the NIST Artificial Intelligence Risk Management Framework – Govern

Ankura on 4/8/2024

The National Institute of Standards and Technology (NIST) Artificial Intelligence Risk Management Framework, published in January 2023, was designed to equip organizations with an approach that increases the trustworthiness...more

AIFMD 2.0 – Evolution Rather than Revolution

Proskauer - Regulatory & Compliance on 3/28/2024

On 26 March 2024, the legislative package amending the Alternative Investment Fund Managers Directive 2011/61/EU (“the “AIFMD”) and (to a certain extent) the UCITS Directive was published in the Official Journal of the...more

EU Cyber Legislation Puts Emphasis on Board Responsibility

Mayer Brown on 3/8/2024

What is a Management Body? Under both DORA and NIS2, a management body can be a body with managerial and/or supervisory functions. The powers and structure of management bodies vary within the EU Member State, and managerial...more

The European Commission Announces Five New Initiatives in Its Economic Security Package

K&L Gates LLP on 2/20/2024

On 24 January 2024, the European Commission (Commission) published its Economic Security Package, which introduces five new initiatives with the aim to increase the European Union’s economic security, including: The proposal...more

In Practice: Preparing for a New UK Securitisation Framework

Latham & Watkins LLP on 2/14/2024

The start of 2024 heralds the rollout of a new suite of rules for securitisation in the UK, which once adopted, will replace the existing on-shored UK Securitisation Regulation (the “UKSR”). Originally published in...more

The New EU Corporate Sustainability Reporting Directive: What Does It Mean For Non-EU Companies?

King & Spalding on 2/1/2024

The new EU Corporate Sustainability Reporting Directive (“CSRD”) is set to revolutionize ESG reporting for companies around the world. Certain large EU companies are already conducting double materiality assessments and...more

Top challenges for white collar crime and investigations lawyers in 2024

A&O Shearman on 1/26/2024

We asked our global white collar crime team for their views on the key challenges in 2024 for in‑house investigations teams and white collar crime lawyers, and how to manage the associated risks. Here is what they said. ...more

EMIR REFIT Reporting: The Clock is Ticking – Are You Ready?

Dechert LLP on 12/20/2023

Time to go-live is short – Monday 29 April 2024 for EU EMIR, and Monday 30 September 2024 for UK EMIR. All in-scope derivatives users will be affected by the changes....more

A View from Abroad: Unpacking DOJ’s M&A Safe Harbor Policy, Part II

White & Case LLP on 12/4/2023

On October 4, 2023, United States Deputy Attorney General (DAG) Lisa Monaco announced a new Department of Justice (DOJ) Mergers & Acquisitions Safe Harbor policy that encourages companies to self-disclose criminal misconduct...more

New standards require planning, policies, and procedures

Society of Corporate Compliance and Ethics... on 11/6/2023

On July 31, the European Commission adopted the first set of rules under the European Sustainability Reporting Standards (ESRS). The ESRS is an important follow-up to the adoption of the Corporate Sustainability Reporting...more

Part 3: 4 Characteristics of a Successful Whistleblower Hotline

NAVEX on 10/26/2023

So far, in this three-part series, we discussed the various kinds of whistleblowing hotlines and the key components that comprise of a whistleblower hotline. In part three, we’ll discuss the four characteristics of a...more

Annex - How big is the New Zero financing gap?

A&O Shearman on 9/26/2023

Methodology - For this report we used a definition of climate finance aligned with the United Nations Framework Convention on Climate Change (UNFCCC) Standing Committee on Finance, which states: “Climate finance aims at...more

How big is the Net Zero financing gap?

A&O Shearman on 9/26/2023

The transition to a low-carbon, resilient, and just economy is the greatest investment opportunity of our lifetime. Institutions that are well prepared to embark on Net Zero pathways will be able to take full advantage of...more

AIFMD II Credit Funds

King & Spalding on 9/21/2023

Loan Origination Funds Have a Lot of Wood to Chop Before Aifmd II Kicks In - Following a review of the AIFMD, the Commission, in a draft amending directive published in 2021, noted that common rules should be laid down to...more

New independent compliance audit requirement in Guernsey

Walkers on 7/21/2023

The Guernsey Financial Services Commission ("GFSC") updated its Handbook on Countering Financial Crime and Terrorist Financing (the "Handbook") in early July 2023 and the updates included a new requirement for a "specified...more

Finally — It's Almost Here ... Electronic Trade Documents Act 2023

Sullivan & Worcester on 7/13/2023

Jacqueline Cook, Of Counsel, and Larissa Head, Trainee Solicitor, sum up the key points of the Electronic Trade Documents Act 2023 (the Act) which will shortly receive Royal Assent and come into force two months later. ...more

Immigration and Global Mobility Update No. 31, July 2023

Ius Laboris on 7/5/2023

Every two months, our experts from around the world put together an update on immigration and global mobility practice, setting out recent changes to the law, policies and procedures. This July 2023 edition gathers...more

Where Do We Stand?: EU to US Data Transfers

Sheppard Mullin Richter & Hampton LLP on 6/12/2023

The process for data transfers from the EU to the US under Standard Contractual Clauses has been back in the news recently, leading many to ask: will the proposed EU-US Data Privacy Framework be approved by the Europeans...more

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European Union › Policies and Procedures

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