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23/05/2024
Digital nomad tax insights
The new visa for digital nomads might become a particularly interesting option for workers who may benefit from the so called “impatriate” tax regime following their relocation to Italy. The Decree...
23/05/2024
Looking ahead to the EU AI Act
Introduction On 21 May 2024, the Council of the European Union adopted the Regulation laying down harmonised rules on artificial intelligence” (the so-called AI Act). As the world's first comprehensive law to regulate artificial intelligence, the AI Act aims to establish uniform requirements for the development and use of artificial intelligence in the European Union. Following the European Parliament's adoption of the draft on 13 March 2024, the AI Act has now been formally adopted . Once signed by the Presidents of the European Parliament and the Council, the Regulation will be published in the Official Journal of the EU and will enter into force twenty days after its publication. With this  adoption of the world’s most significant legislation on Artificial Intelligence, solidifying its position as a pioneer among global legislators. This initiative aims to establish and reinforce the EU’s role as a premier hub for AI while ensuring that AI development remains focused on human-centered and trustworthy principles. After a long and complex journey that began in 2021 with the European Commission’s proposal of a draft AI Act, this new regulation is expected to be passed into law in June  2024. The AI Act aims to ensure that the marketing and use of AI systems and their outputs in the EU are consistent with fundamental rights under EU law, such as privacy, democracy, the rule of law and environmental sustainability. Adopting a dual approach, it outright prohibits AI systems deemed to pose unacceptable risks while imposing regulatory obligations on other AI systems and their outputs. The new regulation, which also aims to strike a fair balance between innovation and the protection of individuals, not only makes Europe a world leader in the regulation of this new technology, but also endeavours to create a legal framework that users of AI technologies will be able to comply with in order to make the most of this significant development opportunity. In this article we provide a first overview of the key points contained in the text of the AI Act that companies should be aware of in order to prepare for the implementing regulation.
22/05/2024
Digital nomad tax insights
The new visa for digital nomads might become a particularly interesting option for workers who may benefit from the so called “impatriate” tax regime following their relocation to Italy. The Decree...
21/05/2024
Consultation of the European Commission on Vifor's commitments concerning...
In response to the Preliminary Assessment stating the potential abuse of its dominant position, Vifor proposed several commitments to rectify the potential competition law infringement. The European Commission...
17/05/2024
The EU Gigabit Infrastructure Act: Faster, Cheaper and Simpler Rollout...
The EU Gigabit Infrastructure Act (GIA), which is set to become law after a political agreement reached in February 2024, responds to the ever-growing need for faster, more reliable, data-intensive connectivity...
17/05/2024
European Sanctions: Mandatory Contract Clauses, New Criminal Penalties
Back­ground­Follow­ing Russia’s occupation of Crimea in 2014 and invasion of Ukraine in 2022, global allies including the UK, US and EU, Canada and Australia, acted in concert to impose stringent sanctions...
17/05/2024
Real estate finance law in Italy
A. Mortgages 1. Can security be granted to a foreign lender? Yes. There is no restriction on the ownership of land by foreign parties in general or a foreign bank taking security over land.  2. Can...
16/05/2024
A broader interpretation of "substance or composition" - good news for...
A recent decision from the EPO Boards of Appeal (T 1252/20) potentially paves the way for more diverse products to be patentable in Europe using the medical use claim format.The back­ground:Art­icle 53(c)...
15/05/2024
Six years of GDPR: Europe-wide analysis shows increasingly dynamic sanction...
Highest GDPR fine of 1.2 billion euros imposed by the Irish data protection authority in May 2023 for a breach of the rules on international data transfers. Further fines imposed by this authority in 2023 amounted to hundreds of millions of euros. The main violations are “Insufficient legal basis for data processing” and “Failure to comply with the general principles of data processing”. The next most common violation is “Insufficient technical and organizational measures to ensure information security”. Spain tops the list of countries with the most fines for the fifth year in a row, followed by Italy and Romania. Ireland, Luxembourg and France have the highest average fines and total amounts per country. Berlin – Today, international law firm CMS has published the fifth edition of its annual Enforcement Tracker Report. The English-language report shows the developments of all publicly known GDPR fines based on CMS's own online database, GDPR Enforcement Tracker. The current edition of the report covers the analysis period between March 2023 and March 2024. 510 fines were added for the past year as of the editorial deadline on 1 March 2024. This brings the total number of data protection fines since the GDPR came into effect in May 2018 to 2,225, or 2,086 if only fines with full details such as the amount of the fine, date and authority are counted. The total amount of fines since the start of the survey is around 4.5 billion euros. This means that fines of around 1.7 billion euros have been added compared to last year’s Enforcement Tracker Report. This shows that authorities are no longer shying away from imposing high fines. The average fine for the entire reporting period was around 2.1 million euros - with high fines against “big tech” companies in 2021/22 and the first fine in the billions in 2023 having a particularly heavy impact.“At the top of the list of GDPR fine triggers is, once again, insufficient legal basis and non-compliance with the general data processing principles as well as insufficient technical and organisational measures. Companies should pay particular attention to this,” says Christian Runte, lawyer and partner at the international commercial law firm CMS Germany. Dr Alexander Schmid from the Enforcement Tracker team at CMS Germany adds: “In addition to data protection authorities, the courts have also increasingly dealt with the interpretation of the GDPR. For example, the Court of Justice of the European Union has further clarified the scope of data subjects' right of access. “These rulings create more clarity, but at the same time tighten the requirements for companies, which is why, in addition to a viable compliance concept, current developments will also be decisive for them in practice in the future.”Read the full Enforcement Tracker Report here; a summary can be found here. Pressekon­takt presse@cms-hs. com
15/05/2024
The European Commission reports on the open and targeted consultations...
BackgroundThe Sustainable Finance Disclosures Regulation (SFDR1) applies since March 2021 with a view to providing transparency to investors about the sustainability risks associated with their investments...
15/05/2024
GDPR Enforcement Tracker Report
The CMS Data Protection Group is pleased to launch the 5th edition In the six years since the GDPR came into force, this powerful framework to protect personal data has certainly helped to raise awareness and encourage compliance efforts – just as the European legislator intended. At the same time, the risk of fines of up to EUR 20 million or 4% of a company’s global annual turnover can also lead to fear and reluctance or ignorance about compliance issues. We still believe that facts are better than fear. This is why we continuously update our list of publicly known fines in the GDPR Enforcement Tracker and established the GDPR Enforcement Tracker Report as an annual deep dive approach to provide you with more insights into the world of GDPR fines.
10/05/2024
Digital nomads: the rules for working in Italy