On February 21, 2025, President Donald Trump issued a presidential memorandum (the Memorandum) signaling that his administration intends to take action with respect to tax and regulatory measures affecting U.S. digital...more
The EU’s Digital Operational Resilience Act (DORA) becomes binding on 17 January 2025. As the compliance deadline approaches, EU financial regulators (ESAs) have issued a flurry of statements on the act, including:
- An...more
1/6/2025
/ Cybersecurity ,
Digital Operational Resilience Act (DORA) ,
EIOPA ,
Enforcement ,
EU ,
European Banking Authority (EBA) ,
European Supervisory Authorities (ESAs) ,
Financial Institutions ,
Financial Services Industry ,
Information and Communication Technology (ICT) ,
Investment Management ,
Policies and Procedures ,
Risk Management
As we approach the end of the year, so too do fintechs approach the impending deadline for implementing the raft of requirements under the EU’s Digital Operational Resilience Act (DORA). Cybersecurity and data privacy counsel...more
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
10/14/2024
/ Corporate Governance ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Deadlines ,
EU ,
National Security ,
Popular ,
Risk Management ,
Technology Sector
With the EU’s AI Act having entered into force on August 1, 2024, companies now need to focus on its implementation. Although the AI Act will not be fully enforceable until August 2, 2027, some obligations will become binding...more
In this edition of Insights, we take a closer look at the megadeals and sponsor transactions driving recent M&A activity, the importance of staying ahead of the risks in AI development and deployment, and other diverse...more
9/30/2024
/ Acquisitions ,
Administrative Procedure Act ,
Artificial Intelligence ,
Chevron Deference ,
Corner Post Inc v Board of Governors of the Federal Reserve System ,
Corporate Governance ,
Delaware General Corporation Law ,
Federal Bans ,
Federal Trade Commission (FTC) ,
Final Rules ,
Government Agencies ,
Judicial Authority ,
Loper Bright Enterprises v Raimondo ,
Machine Learning ,
Mergers ,
Non-Compete Agreements ,
Privacy Laws ,
Regulatory Agenda ,
Regulatory Authority ,
Regulatory Requirements ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
Shareholders ,
Technology Sector
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
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
9/10/2024
/ Algorithms ,
Antitrust Division ,
Artificial Intelligence ,
Banking Sector ,
Board of Directors ,
Competition ,
Corporate Governance ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
EU ,
Financial Institutions ,
FinTech ,
Multinationals ,
Price-Fixing ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
Sustainability ,
Technology Sector ,
UK
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
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
Explore the unique considerations for mergers and acquisitions in the AI sector, the return of IPOs, the implications of new Supreme Court decisions and other developments in this edition of Skadden’s quarterly Insights....more
6/27/2024
/ Acquisitions ,
Antitrust Provisions ,
Banking Sector ,
Capital Markets ,
Consumer Financial Products ,
Consumer Protection Laws ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
EU ,
Executive Compensation ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinTech ,
Food and Drug Administration (FDA) ,
Intellectual Property Protection ,
Life Sciences ,
Mergers ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Technology
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
Valuable insights into the measures European regulators expect businesses to take to protect data privacy can be found in a report from the European Data Protection Board (EDPB) summarizing decisions under the EU’s General...more
4/15/2024
/ Data Breach ,
Data Controller ,
Data Protection ,
Data Security ,
Enforcement ,
EU ,
European Court of Justice (ECJ) ,
European Data Protection Board (EDPB) ,
Firewalls ,
General Data Protection Regulation (GDPR) ,
Passwords ,
Professional Regulators
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
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