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With the establishment of a specialized Bankruptcy Court and a dedicated Bankruptcy Unit, the introduction of preventive settlements, more flexible restructuring proceedings, and the expansion of potential liability, among other things, the new legislation is set to reshape the approach of law firms.
Features
The Biden administration and its Justice Department have established countering corruption as a core U.S. national security interest. Companies with any international operations should ensure they have a robust written policy and compliance program focused on anti-bribery and corruption.
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Labor markets, artificial intelligence and consumer-related issues are going to be under the microscope from antitrust investigators around the globe in 2024, according to a report from Morgan, Lewis & Bockius.
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Since April 2023, French regulation makes the payment of insurance compensation in case of cyberattacks conditional on the filing of a complaint within a reduced time frame. This regulation has been enacted in the context of the French government decision to fight against the resurgence of cyberattacks, together with ransom demands, which have a significant impact on the economy.
Features
The EU AI Act solidifies one of the world's first comprehensive attempts to bring governance to unlock innovation in AI. U.S. companies have asked, what exactly does this development mean for their businesses?
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The United Kingdom's Online Safety Bill makes social media companies responsible to prevent and remove illegal or dangerous content, including posts relating to terrorism, child exploitation, hate crimes or fraud.
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Now, large companies doing business in the EU must report any financial contribution received from a government in a non-EU country in the last three years.
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When restructuring or liquidating a non-U.S.-based company with U.S. operations, practitioners should consider the benefit and efficiency of utilizing the company's home country laws under a foreign proceeding and a Chapter 15 in the United States.
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An Executive Order released by the Biden Administration on Aug. 9 places increased importance on due diligence when investing in specific foreign countries. The Executive Order will regulate outbound investments in China with a focus on key technologies critical to safeguarding U.S. national security, including artificial intelligence.
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Businesses and organizations that (regularly) transfer personal data from the EU to the U.S. should carefully assess, on a case-by-case basis, whether it makes sense to rely on the new EU-U.S. Data Privacy Framework or to use one of the other data transfer tools that are available under the GDPR.