Clifford Chance

SEC Invents "AI Washing" with Focus on Investment Adviser Practices

On March 18, 2024, the U.S. Securities and Exchange Commission (SEC) settled enforcement actions against two SEC-registered investment advisers, Delphia (USA) Inc. (Delphia) and Global Predictions Inc. (Global Predictions) for allegedly deceptive disclosures about their use of artificial intelligence (AI)

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China Revamps its Rules on Cross-border Data Transfer

The Cyberspace Administration of China released the Provisions on Regulating and Promoting Cross-border Data Flows (the New Provisions) on 22 March 2024, together with the second edition of the Guidelines for Security Assessment Filings and the Guidelines for Filing Personal Information Export Standard Contract, each with immediate effect.

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Media & entertainment

Brands and Digital Platforms Beware: ACCC's War on Deceptive Influencer Marketing in the Digital Age

The Australian Competition and Consumer Commission (ACCC) is targeting misleading and deceptive influencer marketing in 2024-25.

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EU Cyber Resilience Act Approved by European Parliament

On Tuesday 12 March, the European Parliament approved the Cyber Resilience Act, a milestone EU regulation which will set cyber security rules for 'products with digital elements' made available on the EU market. The CRA is now awaiting formal approval by the Council and is expected to enter into force in the coming months, with its rules becoming fully applicable over various transition periods. We overview key aspects of the CRA and flag some of the changes that have been introduced since the original Commission proposal.

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Digital Services Act (DSA) Checklist

The EU Digital Services Act applies in full since 17 February 2024. We have prepared a PDF which contains an overview of some of the key items to confirm as part of a business's Digital Services Act status checks given this major milestone. The document is interactive – if you want to find out a bit more detail on some aspects, just click where marked

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Legal 500: Life Sciences Comparative Guide

We are very proud to have launched the new Legal 500 Life Sciences Comparative Guide as a joint project of The Legal 500 and Clifford Chance. The aim of this guide is to provide its readers with a pragmatic overview of life sciences law across a broad variety of jurisdictions. We have provided the Q&A template for each chapter and also contributed country-specific chapters for the EU and UK. Each chapter provides information about the current issues affecting life sciences practice in a particular country and addresses topics such as legislative framework, regulatory processes, advertising, restrictions, risks of liability and compliance standards as well as insight and opinion and any upcoming legal changes planned for their respective country

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Healthtech

A Focus on Transparency in AI By the ONC

The US Office of the National Coordinator for Health Information Technology (ONC) recently released a final rule titled "Health Data, Technology, and Interoperability: Certification Program Updates, Algorithm Transparency, and Information Sharing" that updates the Health IT Certification Program and implements provisions of the 21st Century Cures Act. This rule significantly impacts the transparency and interoperability of health information technology and electronic health records, with a strong focus on AI and predictive algorithms.

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Cyber

How to attack (and defend) an AI system: a primer on security

In January 2024, the US National Institute of Standards and Technology (NIST) published a report aimed at establishing a framework for analysing adversarial machine learning, with the ultimate goal of helping defend against threats. The 107-page report was not just a technical manual, but also a reminder that AI technologies are subject to unique security and privacy risks. The European Union's AI Act also addresses security risks. With this background in mind, we discuss the key issues and considerations for security governance in this article.

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Healthtech

The Impact of the new EU AI Act on the Healthcare Sector: Part One - Scope and a Risk-Based Approach

All stakeholders in the healthcare industry should make themselves acquainted with the new European legal framework for AI and its implications for their products and services as early as possible to lay the foundations for a successful alignment of their operational and strategic business with the new legal requirements

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Infrastructure

Data Centre World and The Tech Show - Key takeaways

There is huge global demand for data centres driven by cloud computing, high performance computing, AI and 5G, but the industry faces an increasing number of hurdles. Teams from Clifford Chance recently attended two major events – Data Centre World and The Tech Show – which highlighted some of the challenges ahead. Read our key takeaways.

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Data

President Biden Issues Executive Order to Protect American's Sensitive Personal Data

On February 28, 2024, President Biden issued Executive Order 14117: Preventing Access to Americans' Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern (EO 14117), directing the Department of Justice (DOJ) and other US agencies to put measures in place to prevent and restrict access to US sensitive personal data by countries of concern.

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Tech Trends 2024 - Five Trends to Watch

This year will see a surge of digital regulation and enforcement. AI is transforming both business strategies and legal landscapes, privacy and cyber laws are proliferating, and child online safety is coming to the forefront. Delayering, decarbonisation and demand for connectivity are impacting deal-making and investment in digital infrastructure. Rapid legal changes, continuing strides in tech, and geopolitical instability, will create complex challenges as well as opportunities. We look at five trends across AI, data, cyber, digital infrastructure and emerging tech, that are shaping 2024.

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Fintech: Five Trends to Watch

While 2023 saw ongoing uncertainty and high-profile financial sector failures, it also brought regulatory progress around the world, including for landmark regulations on digital assets and AI. In 2024, we will see the next stage of pioneering regulation as blueprints and best practices begin to emerge, alongside compliance challenges.

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Global M&A in 2024: Five trends to watch

Following a challenging year for mergers and acquisitions (M&A), the macroeconomic climate is now stabilising, and confidence returning to boardrooms. As a result, we expect the recent growth in M&A to gain momentum into 2024, with deal-making influenced by geopolitics, new technology, and the regulatory response to it.

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2024 Data Centre Industry Outlook

The data centre industry continues to develop at an increasing pace due to technological advancements and market trends. Significant global market growth, rising rack density and pricing dynamics present a number of challenges and opportunities. In this briefing we examine the drivers of change in the evolution of digital infrastructure such as sustainability and AI, and how they will impact data centres and the companies that use them.

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Healthtech

Remote Health Treatment - The Legal Challenges

Some medical treatment can be carried out using digital technology without a doctor being physically present. But what legal challenges does the use of digital technologies entail? This is an issue faced by stakeholders across the global healthcare sector. There is not currently any specific legal framework for inpatient treatment where doctors are physically separated from their patients and potential legal challenges are faced by all stakeholders involved – not just healthcare companies, hospitals and medical staff, but also health insurance companies and legislators.

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Healthcare & life sciences

Commercial Implications for Health Insurers in the Latest AI Guidance from the US Government

Artificial Intelligence (AI) is fuelling discussions on regulation, appropriate oversight, and ethical use. For the healthcare industry, the use of AI has at its core a range of social policy issues that intimately relate to individuals' medical treatment and ultimately, wellbeing, and new U.S. Government guidance will have a significant impact on health insurers

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Healthcare & life sciences

Doing Business in the United States? Steps to Comply with Washington's My Health My Data Act

Washington State's My Health My Data Act (MHMDA), passed in 2023, contains several mandates that will require many organizations doing business in the United States to update their operational and legal processes by March 31, 2024. MHMDA applies to any legal entity that operates in Washington, or provides products or services targeted to Washington consumers, and that acts as a data controller with respect to consumer health data (each such entity is defined in the MHMDA as a "regulated entity").

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Media & entertainment

Foul Play: ASA gives a 'red-card' to former footballers for breaching UK advertising rules

In its recent decision the UK advertising regulator, the Advertising Standards Authority (ASA) has upheld complaints against Supreme CBD Ltd (Supreme CBD) for four posts on X (formerly Twitter) which were not obviously identifiable as advertisements and making medical claims that a food supplement CBD product could treat insomnia and anxiety.

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German Court Rules on Disclosure of Trade Secrets in Competition Law Investigations

In a landmark decision, the German Federal Supreme Court has adjudicated on the balance between the need for transparency in competition investigations and the protection of a party's trade secrets. The German Federal Supreme Court (the "Court") has delivered a pivotal judgment on 20 February 2024, concerning the disclosure of trade secrets in antitrust proceedings. The case (KVB 69/23) revolves around the German Federal Cartel Office's (Bundeskartellamt – "FCO") intention to share Google's confidential information with competitors during an investigation into Google's business practices.

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Cyber

Cybersecurity: where are we now?

Four years into the 2020s there is a clear push in the European Union harmonisation of the rules within the cyber security landscape, with the financial services sector, devices, and cloud security being key areas of focus. This has been a long time coming. Under the guise of its 2020 Cybersecurity Strategy for the Digital Decade, the EU has embarked on a flurry of regulatory developments and proposals that, between them, aim to enhance the baseline cybersecurity of organisations operating in the EU, and levy stronger obligations on certain sectors such as financial services and critical infrastructure. In this overview article, we examine some of these key regulatory developments in the EU, whilst highlighting equivalent efforts, where applicable, in the UK.

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Data

The European Commission Cookie Pledge the state of play and way forward

The European Commission is working towards introducing a voluntary Cookie Pledge in April this year, with the aim of better empowering consumers to make effective ad choices and alleviating cookie fatigue. The Commission hopes to see adoption by organisations across sectors, with a focus on those in the advertising space. While the Commission has attempted to engage externally through a series of discussions, stakeholders continue to have concerns about the latest draft of the Cookie Pledge. This article sets out our updated analysis on the latest pledging principles for the Cookie Pledge published by the Commission

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Fintech

Navigating Digital Securities Sandbox: what is it, and how do I apply?

HM Treasury (HMT) has introduced legislation to launch the UK's Digital Securities Sandbox (DSS).In this article we cover what you need to know, including how to apply, key considerations, and how the DSS compares with its EU equivalent, the DLT Pilot Regime.

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Insurtech

Proposed Changes to Reporting and Underwriting Requirements for Pricing Insurance

The New York State Department of Financial Services (DFS) recently issued a proposed circular letter regarding the "Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting and Pricing" (PCL). The PCL incorporates obligations contained in the DFS's 2019 Insurance Circular Letter No. 1 and tracks key themes of the recent National Association of Insurance Commissioners model bulletin on the "Use of Artificial Intelligence Systems by Insurers" and the Colorado regulations on the use of algorithms and predictive models by life insurers.

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Fintech

Global Fintech Update

Our weekly global fintech round-up, summarises fintech regulatory developments that have happened around the world along with our Clifford Chance fintech publications and upcoming events

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Tech

Tech Policy Unit Horizon Scanner

The Tech Policy Unit Horizon Scanner is our monthly dive into the key tech policy and legislative developments around the world.

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ESG

Sustainability: ESG Developments

This monthly newsletter is intended to assist banks, financial investors and corporates in keeping up to date with ESG developments.

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Media & entertainment

The Advertising Brief

Our quarterly newsletter delivering concise summaries of the most interesting cases from the UK's Advertising Standards Authority (ASA) with our key takeaways for all brand owners to be aware of

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Fintech

Global Crypto Round-Up

This monthly newsletter provides you with a monthly brief into the world of digital assets, keeping you up to date with regulatory developments, publications and events from across jurisdictions.

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Cyber

Stories from the Wild

This monthly newsletter will bring you the latest stories in information security and cybersecurity.

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