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.] * * * The European Union’s Digital Services Act (“DSA”), a significant legislative act of 93 articles and 156 recitals, will become fully effective from this Saturday, February 17, 2024. The post The European Union’s Digital Services Act: In Force from This Saturday, February 17, 2024, Including for U.S.
Introduction On December 20, 2024, the Federal Trade Commission (the FTC) finalized a consent agreement (Consent Order) with Marriott International, Inc. The final Consent Order is materially identical to the proposal announced on October 9, 2024. For instance, the U.S.
Here, we’ll outline the fundamentals of law firm data security in 2024. These are the essential things you need to know about law firm data security in 2024. Check out our blog post on understanding HIPAA compliance for more information. We recommend using Clio’s Cloud Computing DueDiligence Checklist.
As we approach the end of the year, here are the Top 10 Cybersecurity posts on the Debevoise Data Blog in 2024 by page views. Managing Cybersecurity Risks Arising from AI New Guidance from the NYDFS (October 20, 2024) As cybersecurity risks continue to grow, so does the regulatory landscape.
The Italian DPA opened an investigation into DeepSeek for possible GDPR non-compliance associated with its AI chatbot services data collection and processing activities. UK ICO acts on cookie compliance. DeepSeek investigated by Italian DPA over AI chatbot data collection practices.
Conducting duediligence on imported PDEs. As with most recent European technology regulation, the CRA will come with the threat of high penalties for non-compliance – up to €15 million or 2.5% All of this sets up 2024 to be yet another busy year for cybersecurity regulation in Europe. of global turnover.
Its also super handy for spotting legal risks early, especially in compliance, so you can deal with issues before they get out of hand. A study by Clio found that only 8% of firms were using AI tools universally in 2024, even though these tools are becoming standard in other industries. So, why the slow adoption?
As with most recent European technology regulation, the Cyber Resilience Act will come with the threat of high penalties for non-compliance – up to €15 million or 2.5% of global turnover. What’s happening next? Covington’s Privacy and Cybersecurity Practice regularly advises on cybersecurity issues across Europe, including NIS 2 and DORA.
More on that below) The critical role of assessment and solution implementation Duediligence leads to informed decisions: A thorough assessment of your current operational inefficiencies allows you to make an informed decision about switching to a solution like Clio. But it doesn’t stop there.
This could impact financial firms who are considering using the EU AI Act as their ‘high watermark’ for AI regulatory and governance compliance, who will have to accommodate any UK-specific requirements in their compliance programmes. The UK Financial Authorities could look to such existing resources when developing future guidance.
Our key takeaways are: For financial services firms – determine if you are covered as a “financial entity” and, if so, begin charting a path to compliance: it is likely to be a resource-intensive undertaking and one which demands ongoing engagement from across the business, including management. What are the penalties for non-compliance?
On May 16, 2024, the SEC adopted amendments to Regulation S-P (“Reg S-P”) one year after its proposed amendments (the “Proposed Amendments”). Firms will have either 18 or 24 months (depending on size) from the date of publication in the Federal Register to come into compliance. 17 CFR § 248.30(a)(3). e)(1)(i) and (ii).
July 2024 (24.3): What is new in OpenText Axcelerate 24.3 April 2024: What's new in OpenText Axcelerate 24.2 In litigation, investigations and regulatory compliance matters, legal teams are under intense pressure to deliver superior results on time and within budget. These updates in OpenText eDiscovery CE 24.4
January 2024: What's new in OpenText Axcelerate CE 24.1 In litigation, investigations and regulatory compliance matters, legal teams are under intense pressure to deliver superior results on time and within budget. The latest announcement by OpenText of Cloud Editions includes some great updates to OpenText™ Axcelerate™.
Automation and artificial intelligence in the legal sector AI is already used for contract review and duediligence, such as identifying inconsistencies and potential risks in a contract. Regulatory changes and compliance requirements The legal industry tends to be traditional, holding onto established processes and procedures.
She asks them about the biggest impacts they foresee AI and other innovations having on the legal industry in 2024. We’re only a couple of weeks in so I know we retired 2023 We’re jumping into 2024. And so you know, we shouldn’t be running kind of headlong into some of this new technology without, you know, doing our duediligence.
On December 19, 2024, the U.S. We previously discussed Treasurys March 2024 Report, both in terms of AI risk management and governance (Part 1) and managing AI-specific cybersecurity risks (Part 2).
She asks them about the biggest impacts they foresee AI and other innovations having on the legal industry in 2024. We’re only a couple of weeks in so I know we retired 2023 We’re jumping into 2024. And so you know, we shouldn’t be running kind of headlong into some of this new technology without, you know, doing our duediligence.
For some firms, compliance with the Circular will require a significant increase in their cybersecurity compliance budgets and the securing of additional resources for 2025 and beyond. Some companies may want to address this now as 2025 budgets are being finalized.
Public comment on both the Proposal and the Proposed Security Requirements are due on November 29, 2024. Comments are due on November 29. Compliance and diligence. The Proposal describes in greater detail the affirmative duediligence requirements imposed as a condition of engaging in a restricted transaction. •
DOJ Issues Landmark Rules on Sensitive Data On December 27, 2024, the U.S. Existing laws, such as the Protecting Americans Data from Foreign Adversaries Act of 2024 (PADFAA), CFIUS authorities and earlier executive orders, [5] focus on transaction-specific reviews or sector-specific controls but lack broad restrictions on data transactions.
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