The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, No. 22 of 2022 places new obligations on Companies and other persons to register prescribed information regarding beneficial ownership following South Africa’s grey listing and recommendations made by the Financial Action Task Force.
The EU AI Act is hotly anticipated as being a benchmark AI law that other jurisdictions might look towards when developing their own laws (much like GDPR has become a standard upon which some other countries’ own laws are based). First, much like the GDPR in terms of impact, the EU AI Act will have an extra-territorial scope, extending to providers and users of AI outside the EU where the output is used in the EU. Secondly, the Act does lay down fixed penalties for certain infringements of the Act, the highest fine being 30,000,000 EUR or 6% of a company’s total worldwide annual turnover (3% in the case of an SME or start-up) for non-compliance with the prohibitions of AI practices.
This article provides an update of the sanctions enacted against Russia and Belarus by the United States, United Kingdom, and European Union.
Hydrogen power is likely to play a significant role in international commitments to achieving carbon emissions and net zero goals by 2050. This is why governments all over the world, as well as the private sector, are investing heavily in this technology. The growth and success of the hydrogen economy will largely be driven by advancements and innovations in both the core and applications technologies. It is therefore important for investors in, and developers of, new hydrogen power technologies to implement a dedicated procedure and IP strategy to allow innovations to be properly captured, protected and exploited. This article considers some of the key IP considerations that are relevant.
The practical consequences of a new regulation, adopted by the European Union on December 14, 2022, on M&A transactions of a certain size will be considerable as of 2023 and may, above certain thresholds, concern all companies, European or non-European, benefiting from financial contributions from any country outside the European Union when the subject of the M&A transaction includes a business located in the European Union.
On 9 February 2023, the UK Competition and Markets Authority (“CMA”) published new competition law guidance targeted at employers. Its purpose is to remind employers that they must comply with competition law when setting wages, working conditions for new and existing employees, and policies on staff recruitment and retention.
This publication focuses on pivotal legal and regulatory developments in and affecting Hong Kong and the region over the past year, and highlight what to watch out for in the coming lunar Year of the Rabbit.
Learn the rules regarding corporate groups' cash pooling, with this multi-country guide.
In this multi-country guide, learn about legal frameworks and key rules regarding directors' duties and responsibilities.
In this multi-country guide, learn the rules for the protection of trade secrets in a wide range of jurisdictions.