On December 22, 2023, President Biden signed the Foreign Extortion Prevention Act (FEPA) into law as part of the fiscal year 2024 National Defense Authorization Act. Although bribery always requires a giver and a receiver, US anti-corruption efforts have traditionally focused almost exclusively on those who pay bribes because of the way the Foreign Corrupt Practices Act (FCPA) is written. The FCPA criminalizes the act of giving bribes to foreign government officials, but until now, the US has not had a statute that criminalized the receipt of bribes by foreign government officials. The FEPA will now complement the FCPA by criminalizing demand-side bribery by foreign officials.
Continue Reading Foreign Extortion Prevention Act Criminalizes Bribery Demands by Foreign Officials

2023 was a year filled with remarkable AI-related legal developments in legislation, litigation, and regulation. Recent headlines indicate that 2024 will be noteworthy as well. In our AI and Emerging Technologies Year in Review, we take a look at what happened over the past year and predict how key AI issues and trends in the law will continue to progress.
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On January 12, 2024, FinCEN updated its Beneficial Ownership Information Frequently Asked Questions (“FAQs”) to include new information and clarifications about reporting companies, beneficial owners, company applicants, and other reporting requirements. We discuss these developments in our post.
Continue Reading Corporate Transparency Act: FinCEN Updates FAQs on Beneficial Ownership Information

On December 12, 2023, the Centre for Information Policy Leadership at Hunton Andrews Kurth LLP (“CIPL”) released a white paper on Privacy-Enhancing and Privacy-Preserving Technologies: Understanding the Role of PETs and PPTs in the Digital Age.
Continue Reading CIPL Releases Paper on Privacy-Enhancing and Privacy-Preserving Technologies: Understanding the Role of PETs and PPTs in the Digital Age

Welcome to the inaugural edition of Hunton Andrews Kurth LLP’s AI and Emerging Technologies Newsletter, a resource focused on multidisciplinary, current topics affecting businesses in the industry. Inside, we cover a bit of what you need to know about AI in the context of contract terms and conditions, US privacy laws, insurance, employer use monitoring and workforce management, and copyright law, as well as the rise in crypto class actions. Please do not hesitate to reach out to the authors or others in our AI and Emerging Technologies practice with questions regarding these topics and new, arising issues in this space.
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On October 30, 2023, the G7 leaders announced they had reached agreement on a set of International Guiding Principles on Artificial Intelligence (AI) and a voluntary Code of Conduct for AI developers, pursuant to the Hiroshima AI Process. The Hiroshima AI Process was established at the G7 Summit in May 2023 to promote guardrails for advanced AI systems at a global level.Continue Reading G7 Leaders Agree on Guiding Principles and Code of Conduct on Artificial Intelligence

As reported in a Hunton Client Alert, the US Department of Justice, the US Department of Commerce’s Bureau of Industry and Security, and the US Department of the Treasury’s Office of Foreign Assets Control recently issued guidance regarding the voluntary self-disclosure by US businesses of violations of US sanctions and export control laws to these agencies.
Continue Reading DOJ, BIS, and OFAC Issue Inter-Agency Guidance on Voluntary Self-Disclosures of Sanctions and Export Control Violations

As reported in a Hunton Client Alert last week, on June 6, 2023, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency issued final guidance on managing risks associated with third-party relationships, including relationships with fintechs.
Continue Reading Interagency Guidance for Bank Risk Management of Third-Party Relationships