From 1 July 2020, an experimental legal regime is being introduced in Moscow for a five-year period. The Law is aimed at creating the necessary conditions for the development and introduction of artificial intelligence technologies, and the subsequent use of the results of their application.
On 11 May 2020, a new Bank of Russia Regulation* “On Standards for the Issuance of Securities” (the “Regulation on Issuance Standards”) came into force. The regulator updated this Regulation in line with amendments* to the Federal Law “On the Securities Market”, which came into force on 1 January 2020.
After an initial wave of euphoria at the prospect of seeing autonomous vehicles (AVs) on our streets and the associated opportunities and new business models that AVs could create, there is now more realism as to what will actually be possible in the short term. One of the main reasons for this shift is the immensely high cost of making self-driving technology ready for the market and for mass production. There are also no internationally recognised, uniform rules or regulations currently governing the circumstances for using AVs on public streets. This adds further complexity to their development and roll out. So while self-driving technology promises a range of benefits for business and society as a whole, significant challenges remain to be overcome on the road to mass adoption. At the very least, legislators need to make sure that the existing regulatory framework does not act as a barrier to technological development in this area.
The COVID-19 lockdown will not last forever. Some of the Russian regions have already lifted the lockdown regime. Operating both during and beyond the lockdown could throw up novel and unexpected corporate crime and liability risks for businesses. Resuming or increasing business operations as restrictions ease will entail risk. A resumption plan addressing logistical and operational complexities will be essential, but this should also take account of legal risks as part of overall risk mitigation measures.
CMS has advised Grupa Azoty Polyolefins on financing it received from Grupa Lotos SA and South Korea's Hyundai Engineering and Korea Overseas Infrastructure & Urban Development Corporation for the Police Polimery polypropylene project in Poland, as well as on the implementation of the project. Baker McKenzie advised Grupa Lotos and DLA Piper advised Hyundai and Korea Overseas Infrastructure & Urban Development on the deal.