The Belgian Financial Services and Markets Authority (FSMA) has issued a new regulation to limit the commercialisation of virtual currencies to consumers in Belgium. The new regulation is set out in the Royal Decree of 5 January 2023, which was published in the Belgian State Gazette on 17 March and...

Update on the UK Digital Markets, Competition and Consumers Bill The Digital Markets, Competition and Consumers Bill (DMCC Bill) was included in the King's Speech on 7 November 2023. (See our Insight on the digital, data and media bills announced in the speech.) The DMCC Bill was re-introduced to Parliament...

AI and business risk Managing AI risk is rapidly becoming a widespread business consideration. We have brought together our experts across various fields to offer an overview of legal risks arising from this transformative technology, highlighting the additional risks from generative AI. Access the overview. We will also be discussing...

One of the main areas of concern at the heart of the public debate about the protection of minors online is age assurance: to give children greater protection, it is necessary for content and platform providers to check the age of their users. This is particularly necessary when regulations prohibit...

Streamlined support, personable responses and an enhanced consumer experience: it is easy to see why generative AI-powered chatbots have captured the attention of businesses throughout the world. However, enabling a generative AI large language model (LLM)-powered bot to interact with consumers raises a number of nuanced considerations and significant risks...

The UK government has announced that the UK extension to the EU-US Data Privacy Framework (commonly referred to as the UK-US data bridge) has now been established, and businesses can start using it from 12 October 2023. In July, after 24 EU Member States voted in favour of the EU-US...

The Online Safety Bill, the UK's long-awaited landmark legislation designed to protect children and adults online, is finally due to become law in autumn 2023. The legislation will usher in a sea change in the way online spaces are regulated and will place wide-ranging responsibilities on online platforms for protecting...

All new technologies create opportunities for criminals and it is a constant race to stay ahead of the latest threats

The Singaporean regulations that apply currently to digital payment tokens (DPTs) mainly address anti-money laundering and counter-terrorism financing risks. DPTs are not regulated for customer safety and soundness or customer protection. The Monetary Authority of Singapore (MAS) has released proposals, detailed in a consultation paper, " Proposed Regulatory Measures for...

The Financial Conduct Authority (FCA) has published a feedback statement on the potential competition impact of Big Tech entry and expansion in retail financial services. The 12 July statement is part of the UK financial regulator's three-year strategy, which was launched in April 2022 to identify the potential benefits and...