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Dec 17, 2024 | 
jdsupra.com | Lee L. Rubin
Earlier this year, the UK’s Competition and Markets Authority (CMA) published an update to its initial report on AI foundation models which presented the CMA’s findings on key changes in the foundation model sector and included stakeholder feedback.
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Dec 10, 2024 | 
openlegalblogarchive.org | Lee L. Rubin |Johanna Lipponen
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Nov 26, 2024 | 
jdsupra.com | Lee L. Rubin
The EU Digital Operational Resilience Act introduces a regulatory oversight framework for information and communications technology service providers that are considered “critical” for financial entities within the EU.
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Nov 25, 2024 | 
pillsburylaw.com | Lee L. Rubin |Johanna Lipponen
The ESAs announced on November 15, 2024, that the registers of information must be submitted by competent authorities (i.e., national EU financial services regulators) to the ESAs by April 30, 2025, to assist the ESAs with identifying and designating critical ICT Providers (CTPPs). Our overview of the registers of information and compliance obligations to be undertaken by financial entities can be found here.
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Oct 16, 2024 | 
jdsupra.com | Johanna Lipponen |Lee L. Rubin
With the DORA compliance deadline on the horizon at the start of 2025, EU financial entities should be engaging in both internal and external preparations to meet their new regulatory obligations. Takeaways The EU Digital Operational Resilience Act (DORA) Regulation (EU) 2022/2554 becomes effective on January 17, 2025. To ensure compliance by the deadline, financial entities must prepare registers of information and align internal policies and processes with DORA requirements.
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Jul 26, 2024 | 
pillsburylaw.com | Lee L. Rubin |Johanna Lipponen
As part of the process for completing the registers of information, financial entities should review their existing contracts with ICT Providers to ensure that they contain the mandatory provisions specified by DORA. In parallel, financial entities should be considering necessary updates to their standard form agreements for the outsourcing and/or procurement of ICT services to streamline contractual negotiations with any new ICT Providers.
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Jun 24, 2024 | 
jdsupra.com | Steven A. Farmer |Johanna Lipponen |Lee L. Rubin
In light of the increasing organizational use of and reliance on software and the concerns raised regarding the malicious use of the same, the UK Government has published a response to its call for views on software resilience and security for businesses and organizations.
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Nov 30, 2023 | 
jdsupra.com | Johanna Lipponen |Lee L. Rubin
The Competition and Markets Authority (CMA), the UK’s competition regulator, announced this month that it plans on publishing an update in March 2024 to its initial report on AI foundation models (published in September 2023). The update will be the result of the CMA launching a “significant programme of engagement” in the UK, the United States and elsewhere to seek views on the initial report and proposed competition and consumer protection principles.
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Nov 29, 2023 | 
lexblog.com | Lee L. Rubin |Johanna Lipponen
The Competition and Markets Authority (CMA), the UK’s competition regulator, announced this month that it plans on publishing an update in March 2024 to its initial report on AI foundation models (published in September 2023). The update will be the result of the CMA launching a “significant programme of engagement” in the UK, the United States and elsewhere to seek views on the initial report and proposed competition and consumer protection principles. Continue Reading →
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Nov 6, 2023 | 
jdsupra.com | Johanna Lipponen |Lee L. Rubin
A decision of the High Court of the United Kingdom earlier this year is an important reminder that the limitation of liability clause remains a crucial piece of any high value or complex contractual arrangement. The importance of such a clause seeking to restrict a party’s financial exposure in the event of a lawsuit or other claim is that, when enforceable, it can “cap” the amount of potential damages incurred.
