The 27th United Nations Climate Change Conference (COP 27) will soon kick off in Sharm El-Sheikh, Egypt. This year’s COP, which will take place from 6-18 November, will bring parties from across the globe together for discussions on how to tackle climate change and accelerate action towards the goals of the Paris Agreement. Under the Egyptian Presidency, the goal of COP27 is to move from negotiations and planning to actual implementation. The immediacy and dangers of the climate crisis requires “bold and...

Read more

What FTI Cybersecurity expert Greg Berkin knows about setting up (and knocking down) dominos might just keep your organization from being hacked. We’re all familiar with the art and science of domino toppling from our childhoods. You set up dominos on their tail ends and knock down the first in line to create a chain reaction. A successful “run” is the uninterrupted (and gratifying) flow of toppling tiles to the very last one. On the biggest stages, the most spectacular domino...

Read more

As part of its review of the future of the China 301 tariffs, the Office of the U.S. Trade Representative (“USTR”) is soliciting public comments as to the effectiveness of these tariffs (or other actions that could be taken) and the corresponding effects on the U.S. economy.  In a prior action, the USTR sought input from the domestic industry as to whether the 301 action should remain in effect. In connection with this stage of its review, the USTR will...

Read more

The EU's Digital Markets Act (DMA) enters into force on 1 November 2022. It promises to be one of the most significant developments in the history of EU regulation, ushering in a new era for technology companies operating in the EU. In this communication we set out the background to the DMA, the companies whose services will be affected, the obligations that they will have, the consequences of non-compliance and the next steps in the DMA's application. What are the...

Read more

The Internal Revenue Service has received another thumbs-up from a federal court in the agency’s new passion to root out cryptocurrency tax fraud. The U.S. District Court in the Central District of California authorized the IRS to serve a John Doe summons on Los Angeles-based OX Labs Inc., d/b/a SFOX and its subsidiaries. SFOX is a cryptocurrency prime dealer for professional traders and institutional investors and has more than 175,000 registered users. The IRS wants information about U.S. taxpayers who conducted...

Read more

On October 27, 2022, the Digital Services Act (DSA) was published in the Official Journal of the European Union, sweeping in a new era in the regulation of digital services. (See Wilson Sonsini’s DSA Fact Sheet.) The DSA applies to providers of digital services, including those based outside the EU that provide services to users in the region. At more than 100 pages, the legislation imposes a raft of obligations on these companies, with some of the most burdensome relating...

Read more

In this week’s Roar: lower rates putting the pinch on carriers, blank sailings on the rise, on-again off-again labor trouble on US rails and at the Port of Liverpool, and growing concerns over maritime cyber security. It’s no secret that rates for containers from Asia are tanking as many services on the transpacific continue to be canceled. But the question on a lot of minds is how low will they go before setting a new normal? Carriers who were...

Read more

Independent auditors have been placed on notice to tighten internal fraud investigations following an October 11 statement by the U.S. Securities and Exchange Commission’s (SEC) chief accountant, which can be found here. This statement follows several 2022 enforcement actions taken against auditors accused of ignoring red flags during audits, likely due to pressure from clients. Paul Munter, who heads the SEC’s Office of the Chief Accountant, referenced several “deeply concerning” reports that suggest auditors are not acting skeptical enough...

Read more

On Wednesday, the European Commission unveiled a long-awaited legislative proposal to make instant payments in euro available to all citizens and businesses with a bank account in the EU and EEA countries. The move will allow people transfer money 24/7, 365 days of the year, within just 10 seconds. Announcing the new measure, Commissioner for Financial Services, Mairead McGuinness, said that the bill would have a “seismic” impact, arguing that it was “comparable to the move from mail to email”. According to the...

Read more