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In the global race to regulate AI, will the EU get there first? As pressure to regulate AI continues to mount around the world, the European Parliament has approved its negotiating position for the EU AI Act, bringing the landmark piece of AI specific legislation one step closer. Competition & Regulatory Newsletter: CMA provisionally finds that Hitachi/Thales merger raises competition concerns at Phase 2 On 8 June 2023, the Competition and Markets Authority (CMA) provisionally found that Hitachi Rail’s proposed acquisition of Thales’ ground transportation business could reduce competition in the supply of digital mainline and urban signalling ... The potential of hydrogen: a guide to key European markets This guide is intended to assist investors to navigate the changing regulatory framework for hydrogen across the value-chain and the emerging standards for low carbon hydrogen. In the last year, significant steps have been taken towards the development o... Insurance briefing HM Treasury has published two draft statutory instruments which will allow it to implement reforms to the risk margin and the matching adjustment ahead of other proposed reforms to UK Solvency II. UK Solvency II implementation – the risk margin and... BLOG: Transfer pricing, permanent establishment and diverted profits tax reform The changes proposed by the UK government in its consultation on the reform of the transfer pricing, permanent establishment and diverted profits tax legislation are intended to ensure equal treatment between multinationals and other enterprises, simplify... HK CFA Clarifies Effect of Exclusive Jurisdiction Clauses on the Court's Insolvency Jurisdiction The Hong Kong Court of Final Appeal (CFA) has recently in Re Guy Kwok-Hung Lam  confirmed that, where a dispute in respect of a petition debt is subject to an exclusive jurisdiction clause (EJC), the Hong Kong court should generally hold the petition... Employment Bulletin - June 2023 Topics covered in this bulletin: Withdrawal of check-off arrangement was breach of contract not accepted by employees New family leave rights and protections Guidance on responding to data subject access requests Horizon scanning Withdrawal of che... Tax and the City Review for June 2023 In their latest Tax and the City article, Mike Lane and Zoe Andrews consider HMRC’s revised and expanded guidance on the loan relationships unallowable purpose test, noting that it is subject to change as some of the cases which it references are no... The next frontier: EU/UK competition law and labour markets Competition authorities are increasingly focusing their enforcement actions on labour market issues. Practices such as wage-fixing, no-poach and non-compete agreements, and the exchange of competitively sensitive information are coming under the regulator... EFIG: European Banking Newsletter - June 2023 Development's in this month's edition include:  Leverage ratio calculation - ECB v Crédit Lyonnais Signposting tool for supervisory reporting - EBA publishes statement  MLD4 - EBA publishes Consultation Paper  CRR - Pri...