marcusevans is excited to announce that the US General Counsel Summit returns in September 16-17 at Four Seasons Hotel Westlake Village, CA USA! The 4th US General Counsel Summit is an invitation-only, premium Summit bringing leading General Counsel and innovative suppliers and solution providers together. The Summit’s content is aligned with key legal challenges and interests, relevant market developments, and practical and progressive ideas and strategies adopted by successful pioneers. Continue reading…

The European Commission has informed Alchem International Pvt. Ltd. and its subsidiary Alchem International (H.K.) Limited (together ‘Alchem’) of its preliminary view that they have breached EU antitrust rules by participating in a long-lasting cartel concerning an important pharmaceutical product. Alchem is a producer of the pharmaceutical ingredient N-Butylbromide Scopolamine/Hyoscine (‘SNBB’). The Commission has concerns that Alchem may have coordinated and agreed with other market participants to fix the minimum sales price of SNBB to customers (i.e., distributors and generic drug manufacturers) and to allocate quotas. In addition, Alchem may have exchanged commercially sensitive information with competitors. In October 2023, the Commission adopted a settlement decision in relation to the same cartel and concerning other companies. Continue reading…

by Craig Ramsey

The entire EU financial system is on countdown. By January 9th 2025, it will be a legal requirement for the region’s payment service providers to receive real-time credit transfers in Euros thanks to the new Instant Payments Regulation. Time is ticking and there are countless challenges to overcome. But the single biggest issue of all is consumer protection from fraud. To explain, a real-time payment is a credit transfer that makes funds available in a payee’s account within ten seconds of a payment order being made. Once received, it’s irreversible and the money can be withdrawn immediately. Continue reading…

The latest report from the International Bar Association Global Employment Institute (IBA GEI) states that political and environmental factors, such as the Russia-Ukraine war and the climate crisis are together reshaping employment landscapes around the world. In the IBA GEI’s Twelfth Annual Global Report (AGR) – based on data from lawyers in 54 countries – issues such as the aftermath of the COVID-19 pandemic, the shift towards remote work and the challenge of skilled labour shortages, as well as the energy crisis exacerbated by the war between Russia and Ukraine, are identified as key areas for the human resources (HR) sector. Sustainability is also becoming increasingly relevant in terms of HR management. Continue reading…

by Michel Klompmaker

The Digital Operational Resilience Act, better known as DORA, was introduced in the EU last year. We talked about it with subject matter expert and Legal Director and Global Data Governance Officer at Commvault, Jakub Lewandowski. Continue reading…

by Ajay Katara

Gen AI adoption is steadily increasing in many banking and financial organisations. Its applications are expanding into risk and compliance areas, with each risk discipline identifying use cases where Gen AI can enhance efficiency by providing better insights, cost benefits, and faster turnaround times. Within the enterprise risk function, credit risk management is a primary financial risk function that significantly impacts many banking organisations. Over the past 15 years, credit risk management has matured through numerous regulatory mandates and transformation initiatives. However, there are still many areas within this function that can benefit from the adoption of generative AI. Continue reading…

The European Union deeply regrets that the Georgian Parliament decided to override the President’s veto on the law on transparency of foreign influence, and to disregard the Venice Commission’s detailed legal arguments leading to a clear recommendation to repeal this law. Continue reading…

The Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) has published its work programme for 2024-25, highlighting its strategic priorities for policy, standard-setting, implementation and analytical activities. Continue reading…

Aramco, one of the world’s leading integrated energy and chemicals companies, has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in the Kingdom of Saudi Arabia. The agreement will see Pasqal install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025. Continue reading…

The European Commission has formally designated Temu as a Very Large Online Platform (VLOP) under the Digital Services Act (DSA). Temu is an online marketplace with an average of more than 45 million monthly users in the European Union. This user number, which Temu has communicated to the Commission, is above the DSA threshold for designation as a VLOP. Following the  designation as a VLOP, Temu will have to comply with the most stringent rules under the DSA within four months of its notification (i.e. by the end of September 2024), such as the obligation to duly assess and mitigate any systemic risks stemming from their services, including the listing and sale of counterfeit goods, unsafe or illegal products, and items that infringe intellectual property rights. Continue reading…