In a landmark moment for global AI governance, the United States, European Union and United Kingdom have signed the Council of Europe’s framework convention on artificial intelligence and human rights, democracy, and the rule...more
9/17/2024
/ Artificial Intelligence ,
Ethics ,
EU ,
Human Rights ,
Innovative Technology ,
International Treaties ,
Machine Learning ,
Regulatory Agenda ,
Treaties ,
UK ,
United States
The agreed text of the AI Act was published on July 12, 2024, essentially starting the clock on the legal deadlines contained in it. Its obligations will apply in tiered phases, with the first key obligations being enforced...more
7/22/2024
/ Artificial Intelligence ,
Compliance ,
Corporate Counsel ,
Cybersecurity ,
Distributors ,
EU ,
Exemptions ,
Imports ,
Information Governance ,
Machine Learning ,
Manufacturers ,
Recordkeeping Requirements ,
Risk Assessment ,
Supply Chain
On 24 June 2024, the EU adopted its 14th package of sanctions against Russia. The latest measures include: The designation of 116 additional individuals and entities across a number of industries for their responsibility in...more
7/10/2024
/ Asset Freeze ,
Corporate Counsel ,
Economic Sanctions ,
Energy Sector ,
EU ,
Export Controls ,
Exports ,
Financial Services Industry ,
Foreign Policy ,
Importers ,
Imports ,
Natural Gas ,
Russia ,
Ukraine ,
Vessels
A new report issued in May 2024 by the Centre for European Policy Studies (CEPS), an independent thinktank, is the latest installment to cast concerns over the EU-U.S. Data Privacy Framework (DPF), predicting that it will...more
The FCC’s recent introduction of a new Voluntary Cybersecurity Labelling Program for consumer Internet of Things (IoT) products reflects the continued desire by U.S. regulators to bolster the security of the ever-increasing...more
4/10/2024
/ Compliance ,
Cybersecurity ,
Data Security ,
Distributors ,
EU ,
Imports ,
Internet ,
Internet of Things ,
Manufacturers ,
Regulatory Standards ,
Telecommunications ,
UK
Electronic identification and trust services (eIDAS) refer to a range of services that include verifying the identity of individuals and businesses online and verifying the authenticity of electronic documents. Since 2014,...more
On March 13, 2024, the EU Parliament voted to pass the EU’s much-discussed AI Act (with 523 votes in favor, 46 against and 49 abstentions). For an insight into the AI Act’s progression through the EU lawmaking system, see our...more
The United Kingdom (“UK”) introduced new sanctions against Russia on December 14, 2023 with the European Union (“EU”) also adopting its 12th package of sanctions against Russia on December 18, 2023....more
The Council of the European Union and the European Parliament reached a provisional agreement on a new comprehensive regulation governing AI, known as the “AI Act,” late on Friday night (December 8, 2023). While the final...more
There will be additional compliance obligations and mandatory contractual provisions introduced for financial entities and outsourced IT service providers.
The new DORA seeks to strengthen the resilience of financial...more
7/21/2023
/ Cybersecurity ,
Cybersecurity Framework ,
Data Privacy ,
Data Protection ,
Data Security ,
EU ,
Financial Institutions ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Information and Communication Technology (ICT) ,
Information Technology ,
Internet Service Providers (ISPs) ,
New Legislation ,
New Regulations ,
Third-Party Service Provider
The European Union (EU) has made steady progress in shaping its proposed AI law, known as the “AI Act.” With the European Parliament approving its preferred version, the AI Act has now entered the final stage of the...more
This post marks the third entry in our Year-in-Review series. For prior posts, click here. Many of the first measures that the United States, European Union and United Kingdom collectively took against Russia in 2022 related...more
On February 24, 2022, the United States (U.S.), European Union (EU), United Kingdom (UK), and other countries issued a barrage of sanctions against the Russian financial sector, cutting off many major banks from the global...more
U’s Ninth Package - On Friday 16 December 2022 the EU issued its ninth package of sanctions against Russia. Under the new package: Asset freezes have been imposed against 174 new individuals and entities including National...more
The EU has published its eighth package of measures and the UK has published a number of new regulations to implement previously announced measures. Split across four regulations, the EU’s eighth package: Introduces new...more
In the final few days of September, the U.S. and global allies issued a number of sanctions and export controls against actors who have supported Russia’s referendums in Ukraine and related attempts to annex four Ukrainian...more
EU update - On July 21, 2022, the EU published its “maintenance and alignment” package of sanctions. This latest package seeks to tighten existing sanctions, perfect their implementation, and strengthen their effectiveness. ...more
EU introduces a sixth package of sanctions On 3 June 2022, the EU adopted a sixth package of sanctions against Russia which includes economic, individual, media and diplomatic measures....more
EU introduces a fifth package of measures - New asset freezes - On 8 April 2022, the EU published a fifth round of measures against Russia and Belarus. Spread across four regulations, the new measures include additional...more
UK DEVELOPMENTS - Further designations - On 10 March 2022, the UK Government added a further seven oligarchs to its list of sanctions targets, including the owner of Chelsea football club, Roman Abramovich. ...more
On February 27, 2022, the U.S., UK, and EU announced their agreement that certain Russian banks would be delisted from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT). ...more
3/8/2022
/ Delisting ,
Economic Sanctions ,
EU ,
Financial Institutions ,
Financial Transactions ,
Foreign Relations ,
General Licenses ,
Military Conflict ,
Russia ,
SWIFT ,
UK ,
Ukraine
As the Russian invasion of Ukraine continues, the global pressure on the Putin regime intensifies with the EU issuing additional sanctions and export controls on Friday evening (February 25). The legislation implementing the...more
3/1/2022
/ Asset Freeze ,
Blocked Person ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Policy ,
General Licenses ,
Office of Financial Sanctions Implementation (OFSI) ,
Russia ,
UK ,
Ukraine
The EU and UK have imposed further sanctions in response to the invasion of Ukraine and the recognition by Russia of the Donetsk and Luhansk People’s Republics (“DNR” and “LNR”) of Ukraine as independent territories....more
Despite months of posturing and growing geopolitical tensions, Russia’s full-scale invasion of Ukraine this week was a shock to the global community. Western leaders have been swift and unanimous in their response, condemning...more
2/28/2022
/ Anti-Money Laundering ,
Asset Freeze ,
Biden Administration ,
Bureau of Industry and Security (BIS) ,
ECCNs ,
Economic Sanctions ,
EU ,
Executive Orders ,
Export Administration Regulations (EAR) ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
UK ,
Ukraine
The EU takes a major step to expand sanctions on economically important companies and industrial groups, with twenty-two (22) individuals and four (4) entities now added to restrictive measures.
Those designated include...more