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European Union Regulatory Requirements

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... more +
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 -
A&O Shearman

EU Foreign Subsidy Regulation: General Court refuses to suspend EC request for mailboxes located in China

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In the context of a dawn raid under the EU Foreign Subsidy Regulation (FSR), the EU General Court (GC) has refused to suspend the European Commission (EC)’s request to access employees’ mailboxes located in China....more

A&O Shearman

Zooming in on AI – #4: What is the interplay between “Deployers” and “Providers” in the EU AI Act?

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One of the key aspects of the EU AI Act (“AI Act”)[1] is linked to the qualification of providers and deployers and the nuances which help distinguish between the two categories of stakeholders. What would this mean in...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK’s ICO and NCA Sign Memorandum of Understanding for Further Collaboration on Cybersecurity

On 5 September 2024, the UK’s data privacy regulator, the Information Commissioner’s Office (ICO), and the UK National Crime Agency (NCA) signed a Memorandum of Understanding (MoU) outlining how they will further collaborate...more

A&O Shearman

Data Governance: Strategic Convergence, Opportunities and Risks

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AI is accelerating digital transformation for companies and data governance is a key pillar in this change, enabling data strategies that unlock the potential of AI, and mitigate the risks associated with its use. Data...more

A&O Shearman

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

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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

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Summer 2024

Across industries, companies are facing new and uncertain regulatory pressures and demands in areas including artificial intelligence, sustainability, algorithmic pricing and fintech-bank relations. In this issue of The...more

Skadden, Arps, Slate, Meagher & Flom LLP

Multinationals Face Challenges as They Prepare To Comply With the EU’s Sustainability Reporting Law

As the deadlines approach for multinationals to make their first disclosures under the Corporate Sustainability Reporting Directive (CSRD), the EU’s new sustainability reporting law, they are confronting the significant time...more

A&O Shearman

Zooming in on AI – #2: AI System vs AI models

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The Artificial Intelligence Act (AI Act) entered into force on 1 August 2024 and is the world's first comprehensive legal framework for AI regulation. As companies start incorporating AI tools into their business, products...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI Safety: The Role of the Board in Assessing and Managing AI Risk

As AI systems become more complex, companies are increasingly exposed to reputational, financial and legal risk from developing and deploying AI systems that do not function as intended or that yield problematic outcomes. The...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 10: Governance Requirements

Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more

Conyers

Conyers Coverage Issue 11 – Summer 2024

Conyers on

A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more

Sheppard Mullin Richter & Hampton LLP

AI Summer Roundup: EU and Colorado Celebrate Summer with AI Legislation

As we enter the end of the summer, the AI regulatory steam is not slowing down. Colorado is now the first US state to have a comprehensive AI law (going into effect February 1, 2026), and the EU published its sweeping AI law...more

Foley Hoag LLP - Global Business and Human...

Recent Developments in E.U. and U.S. Human Rights Law Signal an End to Voluntary Corporate Standards

Over the next few years, lawmakers and regulators in many jurisdictions will deepen their implementation of new human rights laws that impose significantly higher compliance burdens on companies. Concerns over whether...more

A&O Shearman

UK Prudential Regulation Authority Publishes Policy Statement on Leverage Ratio Treatment of Omnibus Account Reserves

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The Prudential Regulation Authority has published a policy statement on the leverage ratio treatment of omnibus account reserves and minor amendments to the leverage ratio framework. PRA rules require firms to exclude from...more

Bass, Berry & Sims PLC

EU’s AI Act – Coming to an AI Near You

On August 1, the European Union’s Artificial Intelligence Act (Act) entered into force. This groundbreaking legislation is set to be implemented in stages over the coming years and is expected to have a profound impact on the...more

A&O Shearman

Regulatory monitoring - July 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Consultation on report regarding various technical amendments and FAQs - Status: Consultation - Deadline for the submission of...more

Walkers

Personal Information Protection Act deep dive

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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

A&O Shearman

Zooming in on AI: When will the AI Act apply?

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EU Regulation 2024/1689, also known as the Artificial Intelligence Act (AI Act), enters into force as of 1 August 2024. But when will it become applicable? The AI Act sets out a harmonized legal framework for the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 9: Internal Models

There are two main methods of calculating the solvency capital requirement (SCR) under Solvency II, the “standard formula” and “internal model” methods: (a) The standard formula method, as its name suggests, is the default...more

White & Case LLP

AI Watch: Global regulatory tracker - United Kingdom

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The UK prioritizes a flexible framework over comprehensive regulation and emphasizes sector-specific laws. Laws/Regulations directly regulating AI (the “AI Regulations”) The UK government's AI Regulation White Paper of...more

Polsinelli

The EU AI Act is Here, and the Clock is Ticking!

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The EU AI Act is here, folks! Now that the Act has been officially published in the OJEU, it will go into force in 7 days on August 2, 2024. Now is the time to set your timers to align with the compliance calendar...more

A&O Shearman

AI Act published in EU Official Journal to enter into force on 1 August 2024

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On 12 July, 2024, the Regulation (EU) 2024/1689 laying down harmonised rules on artificial intelligence (the ‘EU AI Act’) was published in the official Journal of the European Union. The EU AI Act aims to establish a...more

Jones Day

EU Gigabit Infrastructure Act Paves Way for More Access to Physical Infrastructures and Potential Further Deregulation of Telecom...

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The Situation: The European Parliament and Council approved the Gigabit Infrastructure Act ("GIA") on 29 April 2024. The GIA replaces Directive 2014/61/EU. The GIA is a regulation which is directly applicable and binding in...more

Goodwin

Loan Origination Under AIFMD2: A Guide

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The revised Alternative Investment Fund Managers Directive (AIFMD2) introduces new requirements for funds managed by EU-based alternative investment fund managers (AIFMs) that originate loans. Most of the requirements...more

McDermott Will & Emery

Bewerber googlen? LAG Düsseldorf zur Zulässigkeit & Schadensersatzrisiko

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LAG Düsseldorf: Hintergrund-Recherchen über Bewerber als Teil des üblichen Bewerbungsprozesses? Wie es in dem Zusammenhang zu einem Schadensersatzanspruch kommen kann. Ein Arbeitgeber muss einem Bewerber 1.000 EUR als...more

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