Compliance Compass: Weekly Regulatory Roundup (29 July – 2 August 2024)

Summary:

This week's regulatory update (July 29 - August 2, 2024) features regulatory changes and trends across G-20 nations. Key highlights include:

Anti-money laundering: Brazil published a new normative instruction for the valuables transportation sector to combat money laundering and terrorism financing.
Artificial intelligence: The US Federal Trade Commission addressed its work to protect consumers from AI-related harms.
Competition: Canada, the European Union, Italy, the UK, and other countries announced consultations and studies on competition policies, market dominance, and unfair trade practices.
Consumer protection: The UK's Competition and Markets Authority launched consultations on new direct enforcement powers for consumer protection.
Cybersecurity: China released international standards for IoT security and privacy.
Data protection: The European Data Protection Supervisor published model administrative arrangements for transferring personal data from EU institutions to international organizations.
Employment: The European Insurance and Occupational Pensions Authority launched a public consultation on capital requirement treatment for insurers' exposure to qualified central counterparties.
Environment: Japan published the Fifth Fundamental Plan for Promoting a Sound Material-Cycle Society.
ESG: Japan announced public consultation on revisions to green bonds and sustainability linked bonds guidelines.
Financial services: Brazil, Canada, the European Union, India, Russia, and the USA published consultations, regulations, and standards on financial services, including transactions registration, securities, and cryptocurrencies.
Human rights: Australia's Disability Discrimination Commissioner urged the government to make stronger commitments to the Disability Royal Commission's recommendations.
Intellectual property: The UK's Intellectual Property Office updated its Designs Practice Notice on product examination.

These updates provide valuable insights into regulatory developments across key sectors, enabling businesses and organizations to stay ahead of changes and ensure compliance with new standards.