On 8 February 2024, the Belgian Parliament adopted an Act “containing various provisions regarding the Economy” (“Act”), the final text of which was published on 21 March 2024 in the Belgian Official Gazette.
Article 29 of the Act extends the list of information that is to be included in the pre-contractual information document (PID) as required under the Belgian Disclosure Act (“Belgian Disclosure Act”).
The aim of the PID is to function as a “red flag document” that alerts the counterparty to important contractual provisions prior to committing itself by signing a legally binding commercial cooperation agreement. The amendments to the Belgian Disclosure Act further specify the important contractual provisions that need to be included in the PID.
The annual updates on enforcement trends and priorities this year build upon last year’s guidance by substantially sweetening the calculus for whistleblowers and voluntary self- disclosures, and reflecting the nation’s rapid adoption of disruptive technology tools especially including AI. Previous trends, such as the government’s ongoing enforcement effort aimed at protecting U.S. intellectual property from perceived threats by foreign adversaries, are not letting up, but instead are increasing in specificity as to related corporate compliance expectations. As companies increasingly engage in the race to use and sell AI tools and the datasets that fuel them, now is a great time to also put in place corporate compliance strategies to avoid becoming the next poster child for the government’s deterrence efforts.
We are pleased to share upcoming developments in relation to the Companies (Amendment) Act 2024 (“CA 2024”) which will anchor the revised beneficial ownership (BO) reporting framework. The approval process of the CA 2024 through the Malaysian Parliament was completed in December 2023. The CA 2024 subsequently received Royal Assent on 24 January 2024 and finally, the CA 2024 was gazetted on 2 February 2024. At this point in time, the CA 2024 has yet to be enforced.
On 27 February 2024, China published the amended Law on Guarding State Secrets, which will take effect on 1 May 2024. The Amended SSL enhances state secrets protection from multiple aspects, together with the Counterespionage Law amended in 2023, the National Security Law, and other national security related laws and regulations.
In a move to develop Thailand’s position as a regional hub of investment, the Office of the Securities and Exchange Commission began a public hearing on the new securities and derivatives business licensing regime on 9 February 2024, designed to increase flexibility and decrease costs for business operators.
We’re pleased to present the 14th edition of Ukrainian Laws in Wartime: Guide for International and Domestic Businesses, a brief overview of the key features of wartime legislation. In this edition you’ll explore pertinent responses to the most common questions currently examined and addressed by international and Ukrainian businesses.
On 7 February 2024, the Thailand Board of Investment (BOI) issued several investment promotion measures under the announcements as follows:- 1) Investment Promotion Measure for Social and Local Development 2) Retention and Expansion Program 3) Relocation Program 4) Investment Stimulation Measure for Economic Recovery
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.
On 7 February 2024, the Thailand Board of Investment (BOI) issued several investment promotion measures under the announcements as follows: 1) Investment Promotion Measure for Social and Local Development 2) Retention and Expansion Program 3) Relocation Program 4) Investment Stimulation Measure for Economic Recovery
The Ministry of Commerce has launched a public hearing relating to the draft ministerial regulation regarding the businesses which will be exempted from the requirement to obtain a Foreign Business License or Foreign Business Certificate. For this initial public hearing, approximately 11 businesses have been proposed to be exempted, with the aim to attract foreign investors and promote investments in Thailand.