Editor's Note: In the U.S. laws and regulation space, federal lawmakers formally introduced bipartisan comprehensive federal privacy legislation titled, the American Data Privacy and Protection Act. Meanwhile, California passed a bill intended to protect children's online privacy, and the California Privacy Protection Agency approved draft regulations. The FTC republished an advance notice of proposed rulemaking on artificial intelligence and algorithms, and a new trans-Atlantic framework was announced between the United States and the European Union. In U.S. litigation, Microsoft...

After an extraordinary 36 hours that saw almost 50 MPs resign from Government, Boris Johnson eventually saw the end of the road of his premiership on Thursday. After refusing to resign just the night before, at 12.30pm he stepped out of 10 Downing Street to announce his resignation as Conservative Party Leader, setting in motion also the end of his tenure as Prime Minister.   Mr. Johnson, who had made a career out of surviving political scandals, finally ran out of...

The economic landscape in Canada and around the world has changed rapidly in the second quarter of 2022. After a strong start to M&A activity in the first three months of the year, concerns about a global recession are now top of mind for companies and investors. So what does this mean for Canada's M&A landscape? And what's coming next? Key Highlights Concerns of global recession top of mind in uncertain economy Q2 M&A volume down slightly, mid-market remains robust Pricing of...

On 30 June 2022, the European Parliament and the European Council reached agreement on the final text of the Foreign Subsidies Regulation. Adding to the regulatory burdens, this Regulation creates a notification obligation for companies that receive subsidies from non-EU governments in transactions or public procurement procedures. As stated in an earlier newsletter article, the European Commission proposed the FSR to close a regulatory gap and create a level playing field between European and foreign-backed companies active on the internal...

As one of the safest and most economically stable countries in Europe, Portugal has, for a long time, been a destination of choice for real estate investors. Now with new rules in place which broaden access to include popular islands such as Madeira and Azores, there has never been a better time to explore a Golden Visa. Portugal is not only a country known for its amazing and unique history and cultural heritage. Portugal is also famous for its hospitality,...

A UK-based trading company specializing in medical scrubs and everyday activewear has received credit facilities for USD 1.2 million from Tradewind Finance. The facility will provide the company with the ability to improve its cash flow and add to its growth plans. It has its headquarters in the fashion-forward city of London, where it oversees key steps in the creation of clothing and makes them ready for retail. This includes designing the goods, arranging production, and ensuring that they are...

If, and How Complying with Data Sharing Obligations Under REACH May Infringe Obligations Imposed Under the Recently Adopted EU Sanctions | n 1 July 2022, The European Commission has issued guidance on the interaction between the REACH Regulations and the recent EU sanctions imposed under Council Regulations 269/2014 and 833/2014, in particular the sanctions adopted following Russia's military aggression against Ukraine. In summary, the key takeaways are: Data owners cannot engage in data sharing negotiations or other transactions  with a person...

In this News Update, we discuss the Act on additional remuneration measures for financial enterprises that will enter into force on 1 January 2023, the European Banking Authority's ("EBA") Guidelines on the role and responsibilities of the anti-money laundering and countering the financing of terrorism ("AML/CFT") compliance officer and the management body of credit or financial institutions, and EBA's response to the European Commission’s call for advice on the review of the Payment Services Directive ("PSD2"). We further highlight...