As we look ahead to 2024, it is clear that both data protection and AI will continue to take center stage in the UK, as it will in many other countries. In this article we look ahead to the developments that are expected to impact UK employers in the coming year. EU Regulation of AI – the hotly anticipated EU AI Act has been hailed as “the world’s first comprehensive AI law.” The most recent development was in early December 2023,...

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On 1 February 2024, Belgian Parliament adopted a new Book 6 to the civil code, holding new rules on tort liability. The core principles of Belgian tort liability remain largely unaltered: Parliament's primary aim was to codify and clarify the current rules, which were mostly judge-made over the many years since 1804. Nevertheless, there are notable innovations and important changes. In this publication we discuss one fundamental change: the abrogation of the so-called quasi-immunity of auxiliary agents. What will change? In...

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The U.S. patent system is based upon a quid pro quo balance that incentivizes innovation via a time-limited patent exclusivity, while encouraging the dissemination of new ideas for public benefit and use upon expiration of the patented innovation. However, for some innovative technologies, such as personalized medicine, diagnostics, and artificial intelligence (AI), case law developed within the past decade has made obtaining patent protection increasingly difficult. This has led to a lack of clarity and incentive for some innovators...

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EACCNY Member Ankaa Ventures and Hi Inov announce a strategic partnership to support European start-ups in their seed phase Hi Inov, a Franco-German venture capitalist specialising in BtoB digital start-ups, has entrusted its seed capital program to Ankaa Ventures. Ankaa’s sectors of expertise, including climate tech, human capital, data and AI, are among those targeted by the Hi Inov 3 fund. Paris, 7 February 2024 – Hi Inov – Dentressangle, a Franco-German venture capital company with €350m in...

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The Tax Cuts and Jobs Act (TCJA) brought sweeping tax changes to businesses and individuals. Individual and some business tax rates were cut — some significantly — starting in 2018. Built into the law was the sunset of certain important provisions on December 31, 2025. This means on January 1, 2026, tax law reverts to the tax law before the TCJA’s passage. Because the sunset is part of law, it would take an act of Congress to prevent it. Explore some...

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On 11 January 2024, the EU Data Act (2023/2854) entered into force. This new regulation includes rules for accessing and using data generated by smart products, such as smart meters, industrial machinery, medical devices and connected cars. Such devices generate data on a large scale, but these data are typically held by the manufacturers of those products. The European Union finds this problematic, which is why it introduced the Data Act in an effort to give individuals and businesses more control over...

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A game-changing package of EU AML reforms has come into sharper focus following the announcement that provisional political agreement has been reached on key proposals. We reflect on ten important aspects of the incoming regime, providing a run-down of what firms should be looking out for as we await the final texts. Background The European Commission put forward its package of AML reforms back in 2021. At the time, a new directive and three new regulations were proposed to strengthen EU...

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Almost two years after the publication of proposed rules (the Proposed Rules) on March 30, 2022, the SEC has adopted final rules (the Final Rules) to enhance disclosure and expand liability in initial public offerings by special purpose acquisition companies and in business combination transactions (de-SPAC transactions) involving SPACs and private operating companies (targets). The Final Rules, published on January 24, 2024, and set forth in Release No. 33-11265, were adopted largely as proposed, and require additional, detailed disclosures in connection...

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Welcome to Lost in Translation: Blunders in International Estate Planning; in this blog series, I will delve into the rarified world of international estate planning, shedding light on possible pitfalls and slip-ups. Blunder No. 1:  Two Wills That Revoke Each Other A Will drafted in the U.S. may not be enforceable in another country, and some clients may own property in multiple nations. The gold standard for international estate planning involves offshore trusts and companies. However, these structures come with hefty...

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The European Commission announced a crucial milestone in its environmental agenda with the adoption of enhanced regulations governing fluorinated gases (F-gases) and ozone-depleting substances (ODS). These substances currently contribute to over 3% of the European Union’s total greenhouse gas emissions. This move represents a significant accomplishment within the EU Green Deal, aligning with the bloc’s commitment to achieving its 2030 climate goals and attaining climate neutrality by 2050. The new rules specifically target hydrofluorocarbons (HFCs), the most prevalent F-gases, aiming to eliminate their use entirely by 2050. Quota levels...

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