Showing archive for: “EU”
Privacy, Crypto, and EU Financial Surveillance
European Union lawmakers appear close to finalizing a number of legislative proposals that aim to reform the EU’s financial-regulation framework in response to the rise of cryptocurrencies. Prominent within the package are new anti-money laundering and “countering the financing of terrorism” rules (AML/CFT), including an extension of the so-called “travel rule.” The travel rule, which ... Privacy, Crypto, and EU Financial Surveillance
FTC UMC Roundup – Independence Day Week Edition
Happy Independence Day Week! Having started off with the holiday, this has been a relatively slow week on the antitrust front in the United States. But never fear, Europe is here to help fill out the weekly news roundup. And, even on a slow week there is plenty in the news domestically. Perhaps more important: ... FTC UMC Roundup – Independence Day Week Edition
ADPPA Mimics GDPR’s Flaws, and Goes Further Still
Just three weeks after a draft version of the legislation was unveiled by congressional negotiators, the American Data Privacy and Protection Act (ADPPA) is heading to its first legislative markup, set for tomorrow morning before the U.S. House Energy and Commerce Committee’s Consumer Protection and Commerce Subcommittee. Though the bill’s legislative future remains uncertain, particularly ... ADPPA Mimics GDPR’s Flaws, and Goes Further Still
DMA Update: It’s Still a Privacy Danger
The European Union’s Digital Markets Act (DMA) has been finalized in principle, although some legislative details are still being negotiated. Alas, our earlier worries about user privacy still have not been addressed adequately. The key rules to examine are the DMA’s interoperability mandates. The most recent DMA text introduced a potentially very risky new kind ... DMA Update: It’s Still a Privacy Danger
The Market Challenge to Populist Antitrust
The wave of populist antitrust that has been embraced by regulators and legislators in the United States, United Kingdom, European Union, and other jurisdictions rests on the assumption that currently dominant platforms occupy entrenched positions that only government intervention can dislodge. Following this view, Facebook will forever dominate social networking, Amazon will forever dominate cloud ... The Market Challenge to Populist Antitrust
Chair Khan’s Latest Flawed Perspective on Mergers Ignores Empirics and Sound Economics
Federal Trade Commission (FTC) Chair Lina Khan missed the mark once again in her May 6 speech on merger policy, delivered at the annual meeting of the International Competition Network (ICN). At a time when the FTC and U.S. Justice Department (DOJ) are presumably evaluating responses to the agencies’ “request for information” on possible merger-guideline ... Chair Khan’s Latest Flawed Perspective on Mergers Ignores Empirics and Sound Economics
The Paradox of Choice Meets the Information Age
Barry Schwartz’s seminal work “The Paradox of Choice” has received substantial attention since its publication nearly 20 years ago. In it, Schwartz argued that, faced with an ever-increasing plethora of products to choose from, consumers often feel overwhelmed and seek to limit the number of choices they must make. In today’s online digital economy, a ... The Paradox of Choice Meets the Information Age
US-EU Agreement Hopes to Keep Transatlantic Data Flowing
Though details remain scant (and thus, any final judgment would be premature), initial word on the new Trans-Atlantic Data Privacy Framework agreed to, in principle, by the White House and the European Commission suggests that it could be a workable successor to the Privacy Shield agreement that was invalidated by the Court of Justice of ... US-EU Agreement Hopes to Keep Transatlantic Data Flowing
Final DMA: Now We Know Where We’re Going, but We Still Don’t Know Why
After years of debate and negotiations, European Lawmakers have agreed upon what will most likely be the final iteration of the Digital Markets Act (“DMA”), following the March 24 final round of “trilogue” talks. For the uninitiated, the DMA is one in a string of legislative proposals around the globe intended to “rein in” tech ... Final DMA: Now We Know Where We’re Going, but We Still Don’t Know Why
The DMA and Antitrust: A Liaison Dangereuse
As the European Union’s Digital Markets Act (DMA) has entered the final stage of its approval process, one matter the inter-institutional negotiations appears likely to leave unresolved is how the DMA’s the relationship with competition law affects the very rationale and legal basis for the intervention. The DMA is explicitly grounded on the questionable assumption ... The DMA and Antitrust: A Liaison Dangereuse
The Internationalization of Due Process, Federal Antitrust Enforcement, and the Rule of Law
The acceptance and implementation of due-process standards confer a variety of welfare benefits on society. As Christopher Yoo, Thomas Fetzer, Shan Jiang, and Yong Huang explain, strong procedural due-process protections promote: (1) compliance with basic norms of impartiality; (2) greater accuracy of decisions; (3) stronger economic growth; (4) increased respect for government; (5) better compliance ... The Internationalization of Due Process, Federal Antitrust Enforcement, and the Rule of Law
EU’s Compromise AI Legislation Remains Fundamentally Flawed
European Union (EU) legislators are now considering an Artificial Intelligence Act (AIA)—the original draft of which was published by the European Commission in April 2021—that aims to ensure AI systems are safe in a number of uses designated as “high risk.” One of the big problems with the AIA is that, as originally drafted, it ... EU’s Compromise AI Legislation Remains Fundamentally Flawed
