The guide provides the latest regulatory information on sandboxes, robo-advisers, online lenders, payment processors, marketplaces, exchanges and trading platforms, high-frequency and algorithmic trading, financial research platforms, insurtech, regtech, blockchain, non-fungible tokens (NFTs) and open banking.
The guide provides key legal information on the regulatory environment for digital health, potential legal issues, and other hot topics at the intersection of healthcare, data and technology.
To learn more about the latest trends and developments in digital healthcare in the Philippines, access the Philippine chapter of Chambers and Partners Digital Healthcare Global Guide 2022, exclusively authored by Quisumbing Torres.
On 30 August 2022, the Indonesian House of Representatives agreed to pass a law ratifying the Regional Comprehensive Economic Partnership, the largest regional free trade agreement outside the World Trade Organization — involving 10 ASEAN countries and five non-ASEAN countries, i.e., China, New Zealand, Australia, Japan and South Korea. With the passing of this law, which still requires promulgation by the President, RCEP is set to come into force for Indonesia, possibly before the end of the year.
While Hong Kong has yet to enact specific legislation on cybercrime or cybersecurity, this will soon change with the announcement of the proposal to enact a new cybersecurity law during the Chief Executive’s 2021 Policy Address and the issuance of a consultation paper on “Cyber-dependent crimes and jurisdictional issues” by the Hong Kong Law Reform Commission.
The article aims to provide an overview of Hong Kong’s merger control regime, which is voluntary in nature and – substantively speaking – only applies to mergers involving a telecommunications carrier licensee, as well as other strategic considerations at early stages of transactions.
In the spirit of the ASEAN Central Bank Governors’ Meeting in April 2022 (which is one of Indonesia’s G20 Presidency events) and Indonesia’s Payment System 2025 Visions that were introduced in May 2019, Bank Indonesia has launched cooperation with Bank of Thailand that enables consumers and merchants in both countries to make and accept instant cross-border QR payments for goods and services.
The Philippines logged one of the highest growth rates as an emerging data center market alongside Malaysia and Thailand, supporting the active digital profile of Filipinos.
Access Quisumbing Torres’ Developing and Operating Data Centers in the Philippines to learn more about the key legal issues for data center investors. The guide provides the relevant regulatory information including issues and considerations related to foreign investment controls, data (i.e., privacy, telecommunications laws, cybersecurity, data localization, antitrust),tax, M&A, financing, sustainability and real estate.
Please join us for a weekly series, hosted by Baker McKenzie’s North America Government Enforcement partners Jeffrey Martino and Jerome Tomas. This week’s discussion will cover the Public Company Accounting Oversight Board (PCAOB) Statement of Protocol Agreement with the China Securities Regulatory Commission, and the China Ministry of Finance regarding oversight of PCAOB-registered public accounting firms in China and Hong Kong.
On 18 August 2022, the Federal Government released for consultation the Treasury Laws Amendment (Competition and Consumer Reforms No. 1) Bill 2022: More competition, better prices. The exposure draft legislation seeks to significantly increase the maximum penalty per contravention to AUD 50+ million for corporations engaging in anti-competitive conduct (including, for example, cartel offences, misuse of market power, and exclusive dealing) under Part IV of the Competition and Consumer Act 2010 as well as for contraventions of the Australian Consumer Law. Penalties for breach of competition and consumer laws in Australia have increased rapidly in recent years, particularly in the context of consumer law contraventions, which will have seen an almost 50 times increase in the maximum penalty per contravention over a five year period (if the draft legislation is passed).
On 16 August 2022, the Health Sciences Authority issued an update on products that were found by overseas regulators to contain potent ingredients. Such potent ingredients are banned from health products as they may cause certain side effects.