The deadline for EU countries to transpose the expanded cybersecurity directive, NIS 2, into national law is 17 October 2024, but the implementation status varies significantly from country to country. Some of the member...more
On September 11, 2024, the Department of Commerce’s Bureau of Industry and Security (BIS) published a proposed rule that would require U.S. persons to report certain activities related to the development or acquisition of...more
As AI systems become more complex, companies are increasingly exposed to reputational, financial and legal risks from developing and deploying AI systems that do not function as intended or that yield problematic outcomes....more
9/30/2024
/ Artificial Intelligence ,
Corporate Governance ,
Cybersecurity ,
Data Privacy ,
NIST ,
Popular ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Technology Sector ,
U.S. Commerce Department
The U.S. government’s recent complaint in a relator-filed case under the False Claims Act (FCA):
- Marks the first FCA suit in which the Department of Justice (DOJ) has intervened since launching its ongoing Civil...more
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
9/4/2024
/ Artificial Intelligence ,
Corporate Governance ,
Cybersecurity ,
Data Privacy ,
EU ,
Machine Learning ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management ,
Technology Sector ,
UK
The Department of Defense (DoD) is currently reviewing and adjudicating the public comments received in response to its proposed regulations implementing its Cybersecurity Maturity Model Certification 2.0 program (CMMC)....more
8/13/2024
/ Aerospace ,
Cybersecurity ,
Cybersecurity Maturity Model Certification (CMMC) ,
Defense Contracts ,
Department of Defense (DOD) ,
False Claims Act (FCA) ,
Federal Contractors ,
National Security ,
NIST ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Requirements
The U.S. District Court for the Southern District of New York has dismissed many of the Securities and Exchange Commission’s (SEC’s) claims against software development company SolarWinds and its chief information security...more
8/8/2024
/ Board of Directors ,
Chief Information Security Officer (CISO) ,
Corporate Governance ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Disclosure ,
Disclosure Requirements ,
Internal Controls ,
Misleading Statements ,
Public Statements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
SolarWinds ,
White Collar Crimes
As implementation of the EU’s Digital Operational Resilience Act (DORA) approaches, financial market participants and their technology service providers (both in and out of Europe) face a critical compliance deadline. The new...more
7/19/2024
/ BaFin ,
Cybersecurity ,
Data Privacy ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda ,
Technology Sector ,
UK
Earlier this year, a dedicated policy prepared by the European Central Bank (ECB) came into effect requiring bank management bodies to broaden their collective understanding of and proficiency in identifying and dealing with...more
Two recent settlements under the False Claims Act (FCA):
- Signal enhanced risk around cybersecurity for recipients of federal funds.
- Underscore the need to assess compliance with cybersecurity requirements and...more
On 9 May 2024, Skadden held the inaugural London Space Law Symposium, where six panels of Skadden representatives and industry experts discussed legal aspects of the new space economy. The event was held in the Naim Dangoor...more
6/28/2024
/ Cybersecurity ,
Data Privacy ,
Data Protection ,
EU ,
Financial Institutions ,
International Arbitration ,
International Litigation ,
Legislative Agendas ,
Outer Space ,
Popular ,
Regulatory Agenda ,
Sustainability ,
Taxation ,
Technology Sector ,
UK
The newly approved Artificial Intelligence Act (AI Act or the Act) aims to create a secure and trustworthy environment for the development and use of AI in the European Union....more
6/27/2024
/ Artificial Intelligence ,
Compliance ,
Consumer Financial Products ,
Consumer Protection Laws ,
Cybersecurity ,
Data Privacy ,
EU ,
FinTech ,
General Data Protection Regulation (GDPR) ,
Intellectual Property Protection ,
Privacy Laws ,
Technology Sector
On May 16, 2024, the Securities and Exchange Commission (SEC) announced the adoption of amendments to Regulation S-P (Reg S-P), which broadly track the changes originally proposed in March 2023. The revised Reg S-P requires...more
Rather than specifically regulating artificial intelligence (AI), the UK government has opted to rely on the existing web of laws and regulations applying to technology across a spectrum of sectors in its jurisdiction. But...more
5/13/2024
/ Artificial Intelligence ,
Cybersecurity ,
Data Privacy ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Information Commissioner's Office (ICO) ,
Popular ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
On March 13, 2024, Utah enacted the Utah Artificial Intelligence Policy Act (UAIP), which imposes certain disclosure requirements on entities using generative AI tools with their customers, and limits an entity’s ability to...more
4/8/2024
/ Artificial Intelligence ,
Consumer Protection Laws ,
Corporate Counsel ,
Cybersecurity ,
Disclosure Requirements ,
Fines ,
Machine Learning ,
New Legislation ,
Penalties ,
Policies and Procedures ,
Popular ,
Reporting Requirements
Both the EU and Germany are taking significant steps to accelerate digitalization in the health sector and facilitate the exchange and use of health data for research and innovation purposes.
They aim to improve...more
4/4/2024
/ Analytics ,
Artificial Intelligence ,
Cybersecurity ,
Data Protection ,
Data-Sharing ,
Digital Health ,
EU ,
Germany ,
Healthcare ,
Life Sciences ,
Machine Learning ,
Pharmaceutical Industry ,
Popular ,
Privacy Laws ,
Research and Development
On January 31, 2024, the European Commission (EC) adopted the first of a series of initiatives to harmonize cybersecurity certification across the EU: the European Cybersecurity Scheme on Common Criteria (EUCC).
While EUCC...more
The Federal Communications Commission (FCC) recently approved a voluntary Internet of Things (IoT) Labeling Program, which allows manufacturers of IoT products to earn the FCC’s approval to display a “U.S. Cyber Trust Mark”...more
3/22/2024
/ Cybersecurity ,
Data Security ,
FCC ,
Internet of Things ,
Internet Retailers ,
Labeling ,
NIST ,
Online Marketplace ,
Popular ,
Regulatory Agenda ,
Telecommunications ,
Wireless Technology
On February 28, 2024, President Biden issued Executive Order 14117 (the EO) on “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern” that would...more
3/7/2024
/ Biden Administration ,
CFIUS ,
Cybersecurity ,
Data Privacy ,
Department of Justice (DOJ) ,
Executive Orders ,
Legislative Agendas ,
National Security ,
New Legislation ,
Popular ,
Regulatory Requirements ,
Risk Mitigation ,
Security and Privacy Controls ,
Sensitive Personal Information
Last year, the U.S. Securities and Exchange Commission (SEC) proposed ambitious rules relating to artificial intelligence (AI) that have drawn significant commentary and criticism. While it is unlikely that any changes in the...more
2/27/2024
/ Artificial Intelligence ,
Compliance ,
Cybersecurity ,
Data Protection ,
Disclosure Requirements ,
Enforcement Actions ,
Final Rules ,
Machine Learning ,
Policies and Procedures ,
Popular ,
Proposed Rules ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations ,
Technology
The oversight obligations of boards continue to expand. Recent enforcement actions and new laws in areas such as cybersecurity, artificial intelligence and supply chains create new challenges for boards, as we explain in this...more
2/19/2024
/ Acquisitions ,
Activist ,
Artificial Intelligence ,
Board of Directors ,
Canada ,
China ,
Competition ,
Corporate Governance ,
Cyber Incident Reporting ,
Cybersecurity ,
Disclosure Requirements ,
EU ,
Executive Orders ,
Federal Contractors ,
Financial Services Industry ,
Forced Labor ,
Germany ,
International Labor Laws ,
Life Sciences ,
Machine Learning ,
Manufacturers ,
Mergers ,
NGOs ,
Political Campaigns ,
Political Contributions ,
Political Conventions ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Shareholder Activism ,
Shareholders ,
Technology Sector ,
UK ,
Uyghur Forced Labor Prevention Act (UFLPA)
On January 29, 2024, the Department of Commerce, Bureau of Industry and Security (BIS) released a proposed rule (Proposed Rule) that would require U.S. cloud services providers (a.k.a. Infrastructure as a Service, or IaaS,...more
2/15/2024
/ Artificial Intelligence ,
Bureau of Industry and Security (BIS) ,
Cloud Service Providers (CSPs) ,
Cybersecurity ,
Enforcement ,
IaaS ,
Know Your Customers ,
Machine Learning ,
Popular ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Commerce Department
Key Points -
- New SEC rules from 2023 require public companies to report material cybersecurity incidents promptly and detail their cybersecurity risk management strategies in annual reports — requirements that increase...more
On 21 January 2024, a near complete draft version of the proposed text for the EU AI Act was unofficially shared with the public by a European media publication, after which a senior advisor in the European Parliament shared...more
AI in 2024: Monitoring New Regulation and Staying in Compliance With Existing Laws Companies that develop or employ AI tools have to consider proposed AI-specific regulation as well as an array of existing IP, privacy,...more
12/22/2023
/ Acquisitions ,
Artificial Intelligence ,
CFIUS ,
China ,
Cybersecurity ,
Data Privacy ,
Energy Sector ,
EU ,
Intellectual Property Litigation ,
Intellectual Property Protection ,
International Litigation ,
Investment ,
IRS ,
Mergers ,
National Security ,
New Hires ,
New Legislation ,
New Regulations ,
Outer Space ,
Private Equity ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Taxation ,
Technology Sector ,
Trade Relations ,
Trade Restrictions ,
UK