15 Apr
Member News

Troutman Pepper | Comprehensive Data Privacy Legislation Unveiled in Congress

On April 7, House Energy & Commerce Committee Chair Cathy McMorris Rodgers (R-WA) and Senate Commerce Committee Chair Maria Cantwell (D-WA) announced a bipartisan, bicameral draft of comprehensive data privacy legislation, the American Privacy Rights Act (APRA). The APRA represents a significant compromise and, according to Rodgers and Cantwell, “strikes a meaningful balance on issues that are critical to moving comprehensive data privacy legislation through Congress,” such as preemption of state laws and a consumer private right of action. Applicability Covered entities subject...

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15 Apr
Member News

Houthoff | Cyber Resilience Act

On 12 March 2024, the European Parliament approved the proposed Cyber Resilience Act (Proposal for a regulation on horizontal cybersecurity requirements for products with digital elements; "CRA"). The CRA now has to be formally adopted by the European Council in order to come into law. This is expected in April 2024. The CRA is aimed at improving the cybersecurity of products with digital elements, such as doorbells, smart home devices and Wi-Fi routers, sold on the EU market. It introduces...

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15 Apr
Member News

Protiviti | Enabling Enterprise AI Adoption Through Next-Generation Governance

Artificial intelligence (AI) has become increasingly important in the enterprise, thanks in part to the rise of generative AI (GenAI). While not a new technology or concept, AI (including machine learning) holds tremendous promise to transform various business functions and activities worldwide — from accounting and finance to cybersecurity, customer experience and more. In boardrooms and C-suite offices everywhere, AI is inspiring conversations on reimagining how the business operates. Realizing AI’s opportunities, measuring and managing both benefits and risk, becomes...

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12 Apr
Member News, New York Related News

Reavis Page Jump | Recent New York Law Requires Public Registration of LLC Owners Which Takes Effect Later This Year

The new federal Corporate Transparency Act (CTA) has been in effect for the past few months.  A three-part series which was previously published on this website reviewed the many provisions of this law.  In short, the CTA was enacted in order to combat fraud, money laundering, tax evasion, organized crime and other activities which were perpetrated through the use of shell companies, such as LLCs and similar small business entities.  Failure to comply with the law can result in...

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11 Apr
Chapter News

IMF | Rising Cyber Threats Pose Serious Concerns for Financial Stability

This blog is based on Chapter 3 of the IMF's April 2024 Global Financial Stability Report | Cyberattacks have more than doubled since the pandemic. While companies have historically suffered relatively modest direct losses from cyberattacks, some have experienced a much heavier toll. US credit reporting agency Equifax, for example, paid more than $1 billion in penalties after a major data breach in 2017 that affected about 150 million consumers. As we show in a chapter of the April 2024 Global Financial...

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11 Apr
Member News

Trepp | European Market Update: Altice’s CLO Exposure; Hope for Canary Wharf after Lease Extension

The European Central Bank is optimistic about inflation hitting its 2% target, strengthening arguments for lowering record-high borrowing costs, as indicated in its recent meeting summary that was reported by Reuters. Despite maintaining rates in March, officials hinted at a possible June rate cut, given progress in managing inflation and moderating wage growth. Although there's confidence in reaching the inflation goal, the bank remains cautious, opting to wait for more data before making rate decisions. Upcoming meetings may solidify plans for...

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11 Apr
Member News

Ogletree Deakins | Hot Topics in U.S. Immigration: Alternatives for Employees Not Selected in the H-1B Visa Lottery

In this podcast, Meagan Dziura, a member of Ogletree Deakins’ Immigration Practice Group, covers alternatives for employees not selected in the H-1B lottery, given the stagnant number of USCIS selections made for H-1B visas despite an increased demand over the past few years. Meagan discusses potential options for visa applications, including specialty occupation and treaty visas, such as the H-1B1 and E-3 visas, as well as the TN professional and O-1 extraordinary ability visas. Meagan also explores opportunities for...

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11 Apr
Member News

Mason Hayes & Curran | Foreign Subsidies Regulation Investigation Opened by the Commission

The European Commission has launched an in-depth investigation into a public procurement procedure to examine potential market distortions of foreign subsidies. This is the first in-depth investigation under the Foreign Subsidies Regulation (FSR) which came into effect on 12 July 2023. The Commission will assess whether foreign subsidies allowed CRRC Qingdao Sifang Locomotive Co Ltd (CCRC), a Chinese state-owned train manufacturer, to submit an unduly advantageous offer in reply to a tender for electric trains in Bulgaria. The Foreign Subsidies Regulation The...

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09 Apr
Member News

Ogletree Deakins | Beltway Buzz – Labor and Employment News from Washington D.C.

Congress on Spring Break …What’s on Deck? The U.S. Congress remains out on spring break this week and is scheduled to return to Washington, D.C., the week beginning April 8, 2024. With 2024 funding for the federal government wrapped up, upon its return, Congress will turn its attention to the myriad items that have stacked up on its to-do list. This includes authorizing funds to rebuild Baltimore’s Francis Scott Key Bridge and provide military aid to Ukraine. Additionally, Congress will...

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09 Apr
Chapter News

Biden-Harris Administration Announces Preliminary Terms with TSMC, Expanded Investment from Company to Bring World’s Most Advanced Leading-Edge Technology to the U.S.

With Up to $6.6 Billion in Proposed CHIPS Direct Funding, TSMC Announces 2 Nanometer Technology at Second Fab and a New Third Fab to Produce 2 Nanometer or More Advanced Chips. Proposed CHIPS Investment in Arizona Would Support AI, High-Performance Computing, 5G/6G Communications, and More Applications. On April 8th, the Biden-Harris Administration announced that the U.S. Department of Commerce and TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC), have signed a non-binding preliminary memorandum...

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