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WHAT'S NEXT?: Substantive regulatory change is likely to happen in the next decade as a result of the recent U.S. Presidential election, Brexit and efforts to reduce the impacts of climate change, increase trade and reduce bureaucracy while legislating for new forms of technological advancement such as robots, driverless cars and drones.

  • [New] Two-thirds of global 100 organizations are expected to extend directors' and officers' insurance to cybersecurity leaders due to personal legal exposure. Help Net Security
  • [New] Much like the influential impact of the General Data Protection Regulation (GDPR) on data privacy, the AI Act aims to set a global standard for AI regulation by imposing obligations on AI systems based on their potential risks and impacts. Logan & Partners
  • [New] China and the European Union are further ahead with their attempts to regulate AI, with China setting restrictions on the tech last year, and the EU passing the world's first legislation designed to address AI risks earlier this month. The Register
  • [New] If American voters continue to keep Trump out of power and manage to blunt the power of his legislative acolytes, the United States might still honor its pledge to defend Taiwan from China. The Telegraph
  • [New] End of 2030: The uptake of cryptocurrencies continues to surge, as crypto regulations around the globe give investors a framework to operate in and merchants are accepting cryptocurrencies as payment for goods and services. cryptonews
  • [New] More than £100 million will be spent preparing the UK to regulate AI and use the technology safely, including helping to prepare and upskill regulators across different sectors. Kent Online
  • [New] Western countries will have to overcome some of their own divisions if they are to advance common standards, an obstacle exemplified by ongoing debates about the Council of Europe's Framework Convention on Artificial Intelligence, Human Rights, Democracy, and the Rule of Law. Carnegie Endowment for International Peace
  • [New] The executive order primarily directs government agencies to prepare assessments and recommendations on AI in their domains; robust U.S. regulation will require congressional legislation. Carnegie Endowment for International Peace
  • [New] Returning residents to Gaza during a military conflict and a humanitarian crisis is against international law and poses a deliberate risk to innocent lives. CNN
  • [New] A suspension of arms transfers to Israel is necessary so long as there is an overriding risk that they are being used to commit or facilitate serious violations of international humanitarian and human rights law. Human Rights Watch
  • [New] Other jurisdictions, including the European Union and the state of California, have passed laws that will require companies to disclose Scope 3 emissions. MarketScreener
  • [New] The UN Guiding Principles on Business and Human Rights will be, for the first time, codified in EU law, and businesses will be obliged to conduct environmental and human rights due diligence in their value chains. DLA Piper
  • [New] AI regulation is a moving target with significant developments expected in the coming years and anticipating and mitigating legal risks will be instrumental in fostering a trustworthy and secure environment for both practitioners and patients. National Law Review
  • [New] Lawmakers in some states like California have proposed their own health care AI legislation, which could lead to a clash between State and federal regulations, as has happened with privacy regulation. National Law Review
  • [New] Over the past years, several new cybersecurity regulations have been introduced worldwide to address emerging threats and enhance data protection. Help Net Security
  • [New] Members of the European Parliament voted in favour of the Nature Restoration Law that will require Member States to restore at least 30% of habitats in poor condition by 2030, 60% by 2040, and 90% by 2050. National Law Review
  • [New] The issuance of the PDP Law will help to, among others, solve the potential conflicts between the current Vietnam Personal Data Protection Decree/Decree 13 with other existing regulations on personal data protection, such as the Law on Consumer Right Protection. Global Compliance News
  • [New] The European Union agreed in November to include crimes comparable to ecocide in its revised Environmental Crimes Directive, a decision that will now see all 27 member states introduce equivalent legislation within the next two years. Stop Ecocide International
  • New Zealand is one of only a handful of developed countries that does not regulate online casinos and that places New Zealanders at risk of being targeted by unscrupulous offshore gambling operators. The Beehive
  • The Reserve Bank of New Zealand will focus on it's mandate as the sole prudential regulator, while the Financial Markets Authority would assume the role of sole conduct regulator. The Beehive
  • Capabilities that provide supply chain traceability can help ensure compliance with new laws like the EU Deforestation Regulation, which is expected to go into effect at the end of 2024. Krishak Jagat
  • Europe seems committed to forcing innovators to prove to regulators that a technology will not cause harm rather than making rules designed to stop proven harms. Reason.com

Last updated: 26 March 2024



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