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Showing 9 of 27 Results in international law

Brussels Effect or Brussels Defect: Digital Regulation in Emerging Markets

TOTM The blistering pace at which the European Union put forward and adopted the Digital Markets Act (DMA) has attracted the attention of legislators across the globe. In . . .

The blistering pace at which the European Union put forward and adopted the Digital Markets Act (DMA) has attracted the attention of legislators across the globe. In its wake, countries such as South Africa, India, Brazil, and Turkey have all contemplated digital-market regulations inspired by the DMA (and other models of regulation, such as the United Kingdom’s Digital Markets Unit and Australia’s sectoral codes of conduct).

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Antitrust & Consumer Protection

Biden’s Data Flows Order: Does It Comport with EU Law?

TOTM European Union officials insist that the executive order President Joe Biden signed Oct. 7 to implement a new U.S.-EU data-privacy framework must address European concerns about U.S. . . .

European Union officials insist that the executive order President Joe Biden signed Oct. 7 to implement a new U.S.-EU data-privacy framework must address European concerns about U.S. agencies’ surveillance practices. Awaited since March, when U.S. and EU officials reached an agreement in principle on a new framework, the order is intended to replace an earlier data-privacy framework that was invalidated in 2020 by the Court of Justice of the European Union (CJEU) in its Schrems II judgment.

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Data Security & Privacy

Regulación a las comisiones de tarjetas de pago

Scholarship [The attached was published by La Academia de Centroamérica, a private, nonprofit research center based in Costa Rica, as an adaptation of the ICLE issue . . .

[The attached was published by La Academia de Centroamérica, a private, nonprofit research center based in Costa Rica, as an adaptation of the ICLE issue brief “Regulating Payment-Card Fees: International Best Practices and Lessons for Costa Rica.” Translation by Juan Carlos Hidalgo.]

Resumen Ejecutivo

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Financial Regulation & Corporate Governance

A way out of the war in Ukraine?

Popular Media Responding to the Ukrainian offensive that has liberated Kharkiv and thousands of square miles of territory previously occupied by Russia, Vladimir Putin has taken steps recently that, . . .

Responding to the Ukrainian offensive that has liberated Kharkiv and thousands of square miles of territory previously occupied by Russia, Vladimir Putin has taken steps recently that, to many observers, reek of desperation. While his actions may indeed be desperate, it is likely a mistake to see them as an effort to reverse Russia’s sagging fortunes on the battlefield. Instead, Putin’s recent moves may be a signal to Ukraine—and the rest of the world—of a potential end to the conflict.

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The Folly of Land Acknowledgements

Popular Media “Land acknowledgements” are all the rage. For those who haven’t been to a graduation or university lecture in Blue America, a “land acknowledgment” is the . . .

“Land acknowledgements” are all the rage. For those who haven’t been to a graduation or university lecture in Blue America, a “land acknowledgment” is the practice of starting an event with a statement that the land on which the event is taking place once belonged to particular groups of Native Americans. It is easy to dismiss these as ahistorical nonsense, laden with sentimentality. But there is another way to look at these statements that demonstrate American exceptionalism.

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Regulating Payment-Card Fees: International Best Practices and Lessons for Costa Rica

ICLE Issue Brief Executive Summary In 2020, the Legislative Assembly of Costa Rica passed Legislative Decree 9831, which granted the Central Bank of Costa Rica (BCCR) authority to . . .

Executive Summary

In 2020, the Legislative Assembly of Costa Rica passed Legislative Decree 9831, which granted the Central Bank of Costa Rica (BCCR) authority to regulate payment-card fees. BCCR subsequently developed a regulation that set maximum fees for acquiring and issuing banks, which came into force Nov. 24, 2020. In BCCR’s November 2021 ordinary review of those price controls, the central bank set out a framework to limit further the fees charged on domestic cards and to introduce limits on fees charged on foreign cards.

This brief considers the international experience with interchange and acquisition fees, reviewing both theoretical and empirical evidence. It finds that international best practices require that payment networks be considered dynamic two-sided markets, and therefore, that assessments account for the effects of regulation on both sides of the market: merchants and consumers. In contrast, BCCR’s analysis focuses primarily on static costs that affect merchants, with little attention to the effects on consumers, let alone the dynamic effects. Consequently, BCCR’s proposed maximum interchange and acquisition fees would interfere with the efficient operation of the payment-card market in ways that are likely to harm consumers. Specifically, losses by issuing and acquiring banks are likely to be passed on to consumers in the form of higher banking and card fees, and less investment in improvements. Less wealthy consumers are likely to be hit hardest.

Based on the evidence available, international best practices entail:

  • As far as possible, allowing the market to determine interchange fees and acquisition fees;
  • Acknowledging that payment networks are two-sided markets in which one side (usually merchants) typically subsidizes the other side, thereby increasing system effectiveness;
  • Not benchmarking fees, especially against countries that have price controls in place; and
  • Not imposing price controls on fees on foreign cards.

Read the full issue brief here.

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Financial Regulation & Corporate Governance

China’s Sanctions and Rule of Law: How to Respond When China Targets Lawyers

Scholarship Abstract The People’s Republic of China (PRC) has begun to use sanctions against people who speak out against its policies, including even lawyers in their . . .

Abstract

The People’s Republic of China (PRC) has begun to use sanctions against people who speak out against its policies, including even lawyers in their ordinary work representing the interests of their clients. This paper explores the deleterious impact such sanctions can have on the entire legal profession, the broader community putatively served by the profession, and the rule of law.

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Financial Regulation & Corporate Governance

Mikołaj Barczentewicz on Russian cyber threats

Presentations & Interviews ICLE Senior Scholar Miko?aj Barczentewicz joined the Warsaw Enterprise Institute to discuss  cyber-security threats arising from the Russia-Ukraine conflict. The full video (in Polish) is . . .

ICLE Senior Scholar Miko?aj Barczentewicz joined the Warsaw Enterprise Institute to discuss  cyber-security threats arising from the Russia-Ukraine conflict. The full video (in Polish) is embedded below.

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Data Security & Privacy

Gus Hurwitz on Big Tech’s Russia Boycott

Presentations & Interviews ICLE Director of Law & Economics Programs Gus Hurwitz joined Steptoe & Johnson’s The Cyberlaw Podcast to discuss boycotts of Russia by the largest U.S. . . .

ICLE Director of Law & Economics Programs Gus Hurwitz joined Steptoe & Johnson’s The Cyberlaw Podcast to discuss boycotts of Russia by the largest U.S. tech firms and the role Big Tech played in President Joe Biden’s State of the Union address. The full episode is embedded below.

https://www.steptoe.com/podcasts/TheCyberlawPodcast-397.mp3

 

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Innovation & the New Economy