Crowell & Moring LLP is pleased to announce a significant legal victory on behalf of our clients, Apiário Diamante Comercial Exportadora Ltda. and Apiário Diamante Produção e Comercial de Mel Ltda. (collectively known as “Supermel”). The United States Court of
Italy Proposes New Artificial Intelligence Law
On May 20, 2024, a proposal for a law on artificial intelligence (“AI”) was laid before the Italian Senate.
The proposed law sets out (1) general principles for the development and use of AI systems and models; (2) sectorial provisions,
New Florida Law Creates House Bill 3 Complaint, OFR Investigation Process, and Expands Applicability to Additional Financial Institutions
On May 2, 2024, Florida Gov. Ron DeSantis held a press conference where he signed Florida House Bill 989 (HB 989 or the Bill) into law. HB 989 amends section 655.0323, Florida Statutes, titled “Unsafe and unsound practices,” which was
Petition Summary: Large Top Mount Combination Refrigerator-Freezers from Thailand
On May 30, 2024, Electrolux Consumer Products, Inc. (“Electrolux”) (“Petitioners”), filed a petition for the imposition of antidumping duties on imports from the Kingdom of Thailand (“Thailand”). Electrolux alleges that producers and exporters from Thailand are selling merchandise at less-than-fair-value.
Council of the EU adopts CRR III and CRD VI
On 30 May 2024, the Council of the EU announced that it has adopted the Directive updating the Capital Requirements Directive as regards supervisory powers, sanctions, third-country branches, and environmental, social and governance risks (CRD VI) and the Regulation updating
Council of the EU adopts AML Regulation, AMLA Regulation and AMLD6
On 30 May 2024, the Council of the EU announced that it has adopted a package of new anti-money laundering (AML) rules aimed at protecting EU citizens and the EU’s financial system against money laundering and the financing of terrorism.
MiCAR Delegated Regulations on fines, fees, classification of ARTs and EMTs as significant, and product intervention powers
On 30 May 2024, four Commission Delegated Regulations supplementing the Regulation on markets in cryptoassets (MiCAR) were published in the Official Journal of the EU.
The Delegated Regulations supplement MiCAR in relation to the following topics:
ESMA issues initial guidance for firms using AI in investment services
On 30 May 2024, the European Securities and Markets Authority (ESMA) issued a statement providing initial guidance for firms that use artificial intelligence (AI) technologies when providing investment services to retail clients.
ESMA states that, when using AI, it expects
SRB publishes Multi-Annual Plan for 2024-28
On 30 May 2024, the Single Resolution Board (SRB) published its Multi-Annual Plan 2024-2028, setting out its priorities and activities over the next five years based on the Single Resolution Mechanism (SRM) Vision 2028 strategy, as well as the SRB’s core
DORA Delegation Regulations published in Official Journal of the EU
On 30 May 2024, two Commission Delegated Regulations supplementing the Regulation on digital operational resilience for the financial sector (DORA) were published in the Official Journal of the EU.
The Delegated Regulations supplement DORA in relation to the following topics: