On July 15, 2022, Italy’s Code of Business Crisis and Insolvency (CCII or Crisis Code) took effect, following three previous measures: (i) Legislative Decree 14/2019, (ii) the “corrective” Legislative Decree 147/2020, and (iii) Legislative Decree 83/2022 implementing European Directive 2019/1023 (although some minimal parts of the Crisis Code are already in effect).
On July 13, 2022, the EU General Court (EGC) delivered its judgement in Case T-227/21, Illumina, Inc. v European Commission.
In the context of finalising the first draft of the Markets in Crypto-Assets Regulation (MiCAR), the European Parliament Committee on Economic and Monetary affairs (ECON Committee) was considering a ban on the crypto-assets using “Proof of Work” (PoW) as a consensus mechanism to validate their underlying transactions.
Controller A (Non-EEA) → Processor Z (Non-EEA) → Sub-processor Y (EEA) → Controller A (Non-EEA) (same country)
On June 1, 2022, the EU and the UK brought into force new rules that exempt vertical agreements, including franchise agreements, from the EU and UK prohibitions on anti-competitive agreements contained in Article 101 of the Treaty on the Functioning of the EU (Article 101) and Chapter I of the UK Competition Act 1998 (Chapter I), respectively.
The Verification Act (NachwG) regulates which contractual terms employers must provide to their employees in writing. Until now, this had to be done no later than one month after the start of the contract.
On June 2, 2022, Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (the Regulation) was published in the Official Journal of the European Union.
On June 30, 2022, the European Parliament (EP) and the Council announced that they had reached a provisional political agreement on the EU Foreign Subsidies Regulation (FSR).
The European Parliament (EP) has enacted significant change to the proposed Directive on revisions to the EU Emission Trading System (ETS) and the proposed Regulation for a Carbon Border Adjustment Mechanism (CBAM) that will have significant global trade implications.
The regulations implementing the CCPA require that a business verify the identity of a consumer that submits a specific-information access request to a “reasonably high degree of certainty.”
The Financial Industry Regulatory Authority (FINRA) in November 2022 released a targeted exam letter pertaining to communications for crypto products and services.
It has been a long and heated debate as to whether NFTs and certain cryptocurrencies can be deemed as securities under applicable laws and precedents.
In a prior post, we wrote about the importance of reviewing the terms governing the sale of an NFT to determine what rights, if any, are included in the sale in order to commercially exploit the asset associated with the NFT, and the confusion that emerges in interpreting such terms through the lens of copyright law.
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