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In Cybersecurity, Data and Tech

China: Navigating cross-border data transfers in the Greater Bay Area

by 2 Mins Read

The introduction of the Standard Contract for the Cross-boundary Flow of Personal Information within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong) (comprising a set of standard contractual clauses, GBA SCC), together with its Implementation Guidelines marks a significant milestone in facilitating cross-border data flows between major cities in Guangdong province and Hong Kong, key cities in the Greater Bay Area (GBA). It provides an alternative to the existing requirements under the Personal Information Protection Law of the PRC to use one of three methods for transferring personal data outside of mainland China, namely by use of China standard contractual clauses (China SCC), obtaining certification from professional institutions and, if certain types of data are to be transferred or data quantity thresholds are met, submitting to a government-led security assessment review.

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In AML & Financial Services Regulatory

Australia: The transition from the BEAR to the FAR happens on 15 March 2024

by and 3 Mins Read

The transition from the Banking Executive Accountability Regime to the Financial Accountability Regime is due to take place on 15 March 2024 for the banking industry. Companies covered by the regime need to be aware of these changes and ensure relevant documentation, including relating to accountable persons and variable remuneration, is up to date.

In Cybersecurity, Data and Tech

Vietnam: Law on Personal Data Protection is officially in the pipeline

by 2 Mins Read

The Vietnam Ministry of Public Security (MPS) published on 29 February 2024 its first version of the dossier proposing the development of the Law on Personal Data Protection (“PDP Law”) on the government’s official website for public consultation. This is one of the initial steps to kick off the drafting and enactment processes of the new Vietnam PDP Law.

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In Cybersecurity, Data and Tech

Singapore: First Generative AI Sandbox to allow SMEs to harness the benefits of Generative AI

by 4 Mins Read

On 7 February 2024, Enterprise Singapore and the Info-communications Media Development Authority launched the Generative AI Sandbox for small and medium-sized enterprises. Through the sandbox, SMEs will be able to receive funding support to experience Generative AI enterprise solutions over a three-month period. This initiative builds on Singapore’s existing efforts to strengthen the development and ecosystem of AI locally.

In Cybersecurity, Data and Tech

Vietnam: National Data Strategy, Data Law, and Personal Data Protection Law — The start of a comprehensive transformation in data policy landscape in Vietnam

by 4 Mins Read

The terms “data” and “digital data” have prominently surfaced in the discussions of policymakers and policy advocates. The year 2024 may signify the start of a comprehensive transformation in the data policy landscape in Vietnam, with the proposals of several key laws.

In Product Regulation & Liability

Singapore: Health Sciences Authority seized over 1.12 million units of illegal health products and removed more than 12,000 illegal product listings online in 2023

by 3 Mins Read

On 30 January 2024, the Health Science Authority (HSA) announced it had seized over 1.12 million units of illegal health products and removed over 12,000 listings of illegal health products from local e-commerce and social media platforms in 2023 through targeted operations, intelligence sharing and joint enforcement efforts with local and overseas agencies.
Illegal health products include unregistered or counterfeit health products, as well as products with potent medicinal ingredients or banned substances illegally added to them.

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In ESG

Vietnam: Regulatory outlook and legal considerations for the development of rooftop solar power projects

by 2 Mins Read

Among other renewable power sources, rooftop solar (RTS) power has increasingly become an important power supply source in Vietnam in recent years. However, the implementation of the PDP8 demands some changes to policies and regulations on the development of RTS power. In this update, we provide an overview of the RTS power development in Vietnam from a regulatory and legal perspective, along with an analysis of key legal considerations for the development of new RTS power projects in Vietnam.

In Corporate Compliance

China: SAMR issued Draft Regulations on capital contribution under the New PRC Company Law

by , , and 7 Mins Read

On 6 February 2024, the State Administration for Market Regulation of the People’s Republic of China issued the draft Regulations of the State Council on Implementing the Registration and Management of Registered Capital under the Company Law of the People’s Republic of China for public consultation.

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