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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] New Yorkers currently working in the illegal market will have an opportunity to obtain one of ten different licenses to work in the new cannabis economy, which is projected to bring in $350 million in taxes each year as well as create 30,000 to 60,000 jobs statewide.
[New] New York has legalized marijuana and will soon begin expunging low-level possession convictions.
[New] The biggest change to UK contingent workforce management legislation in years, IR35 presents significant risks, but also opportunities for businesses within the private sector.
[New] Instead of consulting Hong Kong's elites, China relied mostly on its own senior officials in drafting the legislation that will determine how future leaders of Hong Kong are selected.
[New] Put simply the UK is losing more beds per year than are being built, which much older stock no longer viable and with raising standards from regulators and consumers will be accelerated in their closure.
[New] In June the European Commission will propose a law requiring airlines to use green fuels.
[New] New York's law is a bit more lenient, allowing up to three ounces of cannabis for recreational use and will also eventually allow individuals to own six marijuana plants.
[New] The New York law is small business friendly: small operators will be allowed to grow, process, distribute and sell cannabis, privileges not immediately afforded to legacy farmers and small businesses in other states like California.
[New] Vietnamese exporters encounter many potential legal risks in the US market, especially trade remedy measures, because the US side often adjusts their trade policies for each period depending on each partner.
[New] Many companies promote moral regulation within the EU but have no qualms about selling their products to China where they will be used for mass surveillance.
[New] If the U.S. uses all its legal authority to spur vaccine production, it could help produce billions more doses, save countless lives and end the pandemic years earlier.
[New] Maintaining a focus on business context and the ability to meet regulation will be critical in 2021, as well as ensuring enterprise-wide understanding around data and risk.
[New] Beijing has responded by cracking down even harder on dissent, including a new national security law and changes last month that will significantly reduce the number of directly elected seats in Hong Kong's legislature.
[New] Algorithms performing risk assessments are in use by some legal jurisdictions in the United States to determine an offenders risk of committing a crime in the future.
[New] Research investigating ethical and environmental issues with AI has been targeted: This adds further weight to calls for stronger regulation and oversight of Big Tech.
[New] Volkswagen's joint venture in China will buy carbon credits from Tesla to comply with local environmental regulations and avoid paying hefty penalties.
[New] A slew of regulations are on the horizon - namely Europe's GDPR and California's CCPA - that will make companies be much more intentional and up front about the data they collect.
[New] Mastercard plans to leverage Finicity in work it does in the European market as well as in North America, where regulators have been drawing up rules for open banking.
[New] The President's tax reform proposal will increase the minimum tax on U.S. corporations to 21% and calculate it on a country-by-country basis so it hits profits in tax havens.
[New] A third vaccine known as Novavax is being scrutinised by the Australian regulators and will be rolled out, if approved, by the end of June.
[New] The challenge for US and EU legislators will be harmonizing their free speech principles and addressing dangerous content without Balkanizing the internet.
[New] The proposed guidance and letter come as U.S. financial regulators and policy makers increasingly focus on the potential systemic risk that climate change may pose to the financial sector.

Last updated: 06 April 2021

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