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Regulatory Framework

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The Communications and Information Technology Commission (the CITC) which regulates the information communications and technology sector in the Kingdom of Saudi Arabia (the Kingdom) has issued a revised version of its regulatory framework for cloud services (the Framework), which simultaneously reduces the compliance burden on cloud service providers (CSPs) and enhances the statutory protection afforded to them. The revised Framework boosts the Kingdom’s commitment to creating an environment conducive to digital innovation and to attract…

The city of Turin is at the forefront of autonomous vehicle testing. On 26 October 2018, first in Italy, an autonomous vehicle drove in the city center wholly driverless using 5G technologies. Italian roads are now open to smart mobility. To this end, earlier this year, the Italian Ministry of Infrastructures and Transport pioneered the road of Intelligent Transport Systems by adopting a decree that paves the way for the digital transformation of Italian infrastructures.…

This month, the U.S. Department of Transportation (DOT) has updated its policies and guidance for automated vehicles — Preparing for the Future of Transportation: Automated Vehicles 3.0 (AV 3.0). This update not only provides clarity and further guidance on DOT’s existing policies, including the use of voluntary safety standards and the proper roles for the Federal and state governments, but also expands DOT’s guidance beyond passenger vehicles to other modes of transport. The automated vehicle…

The German legislator has, in principle, adopted the Network Enforcement Act (NEA) (in German: “Netzwerkdurchsetzungsgesetz”) which will impose stringent new obligations on social media platform providers in relation to unlawful content. This an attempt to more effectively combat fake news and hate speech. Click here for our detailed client alert.Who will the NEA apply to?The NEA will apply to, and impose obligations on, providers of social media platforms that have at least two million registered…

In the sphere of internet regulation, the current Ukrainian government has been more active in the past months than all former Ukrainian governments together in the past 20 years. At the beginning of May, the law establishing the first ever Ukrainian secondary liability regime for third-party copyright infringement came into force. Later that same month, the President of Ukraine approved a decree ordering ISPs to block access to a number of popular Russian online services…

On May 16, 2017, the Ukrainian President signed Presidential Decree No. 133/2017 which introduces sanctions against 1228 individuals and 468 legal entities.The Decree has received unprecedented public attention because it establishes restrictive measures (sanctions) against Russian IT companies and their Ukrainian subsidiaries. Such companies/subsidiaries are popular among Ukrainians and provide services such as social networks, a search engine, a navigation service, accounting software, antivirus solutions, and more.The sanctions are based on Article 4 of the…

1. IntroductionAs reported before, in the autumn of 2016, the Swedish Supreme Administrative Court ruled that a camera mounted on a drone is considered a CCTV camera for purposes of the Swedish Camera Monitoring Act. The judgment meant that using a drone equipped with a camera, where the camera will be directed at a place to which the public has access, requires a licence from the County Administrative Board. Since a licence in principle is…

1. Global contextAs noted in the IMF’s “Virtual Currencies and Beyond: Initial Considerations” report released in January 2016: “[Virtual currencies (VCs)] offer many potential benefits, including greater speed and efficiency in making payments and transfers – particularly across borders – and ultimately promoting financial inclusion… At the same time, VCs pose considerable risks as potential vehicles for money laundering, terrorist financing, tax evasion and fraud.”Regulators around the world have begun to focus on this issue…

There has been unprecedented growth in the FinTech industry, with investment in the sector estimated to be upwards of $19 Billion in 2015. Technology companies have achieved success in the mobile payment space, while peer-to-peer lenders have services challenging traditional bank loans. Tech companies are starting to offer blockchain and similar distributed ledger products that challenge the role of settlement intermediaries. Not to be outdone, bank and other financial institutions have moved aggressively into FinTech…

Part of the Ghosts in the Machine b:INFORM SeriesArtificial Intelligence – Regulatory RiskIn this article forming part of our b:INFORM Ghosts in the Machine Series , we analyse the survey findings relating to regulatory risks arising from the use of Artificial Intelligence (“AI”) in financial markets and institutions. Click here for our article analysing the survey findings relating to legal risks arising from the use of Artificial Intelligence. And you are welcome to visit our Ghosts in…