Digital transformation is all about using the latest technology to improve your business model. Digital technology creates new business opportunities which in turn creates a whole new range of tax and legal challenges such as contracting, data protection, privacy questions, intellectual property, consumer protection and competition issues.
The speed at which digital technology has become an integral part of our daily lives has overtaken most legislative processes. In recent years, the European Union, Member-States and international legislative bodies have therefore increased their regulatory efforts.
Blockchain technology is part of the Digital Economy and continues to be newsworthy. Blockchain and/or DLT technology will revolutionise a wide range of sectors particularly those involving intermediaries – from finance to law, insurance, real estate, healthcare, logistics, media and the public sector. As a result, almost every type of organisation will find that this technology will impact their business in some way, together with the markets they operate within.
Our team also focuses on assisting FinTech players to bring digital innovation to the financial services industry. Our clients range from vested players in the financial markets looking for FinTech solutions, to scalable FinTech startups, as well as new players in the financial markets such as big tech companies.
With international presence, experience with innovative technology and entrepreneurial spirit, our multi-disciplinary team provides the legal assistance a FinTech player requires in today’s FinTech landscape.
The European Union (EU) introduced a new Cybersecurity Strategy towards the close of 2020, underlining the importance of robust national cybersecurity oversight bodies and fostering collaboration among EU Member States. The NIS2 Directive is designed to establish a unified standard of cybersecurity throughout the EU, specifically for entities classified as important and essential. Concurrently, the Digital Operational Resilience Act (DORA) introduces cybersecurity requirements for financial institutions operating in the ICT sector. Additionally, there are other legislative proposals on the horizon, such as the Critical Entities Resilience Directive (CER), the Cyber Resilience Act and proposed amendments to the Cybersecurity Act. These initiatives aim to bolster cybersecurity measures for digital products and reinforce the role of the EU Agency for Cybersecurity (ENISA).
Considering the substantial obligations and extensive consequences associated with these regulations, it is imperative for businesses to proactively acquaint themselves with their cybersecurity responsibilities.