The first comprehensive AI regulation in the world aims for strong protection against harmful impacts. What does that mean? 1. Context After much anticipation, the EU Parliament formally adopted the final version of the proposal for an EU regulation laying down harmonised rules on artificial intelligence (AI Act) on 13 March 2024. The text is still subject to a final lawyer-linguist check and needs to be formally endorsed by the Council of the EU. Initially proposed by the EU Commission in...

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Sika has acquired Kwik Bond Polymers, LLC (KBP), a manufacturer of polymer systems for the refurbishment of concrete infrastructure. For over 30 years, KBP has focused on the refurbishment of bridge decks and has established an impressive track record in signature projects across the USA. The business perfectly complements Sika’s high value-added systems for refurbishment of concrete structures. KBP has a proven product offering that includes polymer technologies providing long-lasting protection of bridge decks and other concrete infrastructure applications. By increasing the...

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The recent Euro CLO Forum in London, co-hosted by IMN and FIIN, brought together industry leaders to discuss the state of the European collateralized loan obligation (CLO) market in the wake of 2023's significant interest rate hikes. While concerns lingered, the sentiment at the conference portrayed a newfound stability in the market, with loan defaults trending lower than expected. Panelists at the conference also analyzed topics such as the impact of tighter AAA spreads in the market and how investors are...

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Large technology companies and innovators in the consumer financial services space should expect to see stepped up regulatory attention ahead. The Consumer Financial Protection Bureau (CFPB) continues to increase its focus on data-intensive business practices and “large technology conglomerates” in consumer finance, as evidenced by the recent statement of Director Rohit Chopra and Chief Technologist Erie Meyer. The statement announces the CFPB’s efforts to step up its capabilities to address “transformative technologies.”1 This statement was made in conjunction with a statement from the Federal...

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On March 1, 2024, Judge Liles Burke of the U.S. District Court for the Northern District of Alabama issued a decision in National Small Business United d/b/a National Small Business Association v. Yellen (Case No. 5:22-cv-1448-LCB) stating that the Corporate Transparency Act (CTA) is unconstitutional. In response to some reports calling this decision the “death” of the CTA, we wanted to provide an update on the status of the matter in our view. On November 15, 2022, the National Small Business Association...

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On April 1, 2024, changes to various immigration processes will take effect, including the following: Certain USCIS Forms Take Effect—with No Grace Period. Starting April 1, 2024, U.S. Citizenship and Immigration Services (USCIS) will only accept the 04/01/24 versions of Form I-129 and I-485. USCIS will use the postmark date of a filing to determine which form version and fees are correct but will use the received date for purposes of any regulatory or statutory filing deadlines. New USCIS Fees Take Effect. As GT previously...

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Speaking at the Global Competition Review: Law Leaders Global Summit last month, Commissioner Alvaro M. Bedoya of the Federal Trade Commission (FTC) argued that the FTC could — and should — combat worker misclassification under Section 5 of the FTC Act, as an unfair method of competition. Commissioner Bedoya advocated that worker misclassification — when an employer classifies a worker, who should be an employee, as an independent contractor — satisfies the criteria established by the FTC in its November 2022...

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A recent regulatory update may impact your strategy for recruiting international talent. On 20 March 2024, the regulation of 15 March 2024_ setting the gross average annual salary needed to calculate the minimum salary level for a highly qualified worker  was published in mémorial A123 (the “Regulation”). It adjusts the annual threshold for the minimum salary required for highly qualified third-country workers who want to work in Luxembourg with an EU Blue Card. Key points From an immigration perspective, third-country nationals who want to live and...

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On March 6, 2024, the SEC adopted new climate disclosure rules. These rules require companies to publish information that describes the climate-related risks that are reasonably likely to have a material impact on a company’s business or consolidated financial statements. The new rules call for a dramatic change in the nature and extent of disclosures US companies are required to make about the impact of climate change. The gathering and reporting of these incremental disclosures may require significant changes to...

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Logistics need to change both up and downstream if companies are to make progress on emissions reductions. To adapt to supply-chain disruptions during the pandemic and through ongoing geopolitical conflicts, as in the Red Sea, companies have implemented longer shipping routes, opted for air freight, and often cobbled solutions together without indexing heavily on the environmental impacts of those choices. They won’t be able to in the future. Regulatory shifts like the European Union's Carbon Border Adjustment Mechanism (CBAM) and California's At-Berth Rule are reshaping...

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