Compliance Compass: Weekly Regulatory Roundup (27 – 31 May 2024)

Here is a summary of the document:

Regulatory Update (27-31 May 2024)

Anti-money laundering: EU adopts new anti-money laundering rules to protect against money laundering and terrorism financing.
Artificial Intelligence: EU establishes AI Office and ESMA provides guidance on AI in investment services.
Consumer protection: EU approves the Right-to-Repair Directive, and countries take action to protect vulnerable consumers.
Competition: EU designates Temu as a Very Large Online Platform, and Japan updates Cabinet Orders to promote fair competition.
Cybersecurity: US sanctions a cybercrime network associated with the 911 S5 Botnet.
Data Protection: EU's EDPB releases guidance on consumer profiling and processor binding corporate rules.
Employment: US EEOC takes legal action against companies, and Germany passes pension level stabilization and generational capital act.
Environment: EU approves conclusions on EU's electricity grid infrastructure and adopts the New EU Methane Regulation.
ESG (Environmental, Social, and Governance): France publishes guidance on sustainability objectives and competition rules.
Financial services: APRA applies additional licence conditions on Mercer Super, and ESAs publish templates for dry run exercise on reporting of registers of information.
Intellectual property: INPI publishes technical note on industrial design examination procedures.
Human rights: EU imposes sanctions on individuals and entities for evading sanctions related to the Democratic Peopleu2019s Republic of Korea and supporting Russia's war against Ukraine.
Industry News*: Competition Bureau Canada launches a market study of competition in domestic air passenger services in Canada.

Overall, this regulatory update covers a wide range of topics, including anti-money laundering, artificial intelligence, consumer protection, competition, cybersecurity, data protection, employment, environment, ESG, financial services, intellectual property, and human rights.