It is frequently observed that children are especially impacted by advertising, and special attention must be paid when marketing to them. Historically, with the exception of Quebec, which has prohibited virtually all forms of commercial advertising directed at children under the age of 13 since 1980, Canada did not specifically restrict advertising targeted at children. However, driven by growing concerns due to increases in obesity and chronic diseases, plans have now emerged to tackle these issues, including three recent developments enacted by the food and beverage industry, the federal Parliament, and Health Canada, respectively.
In this update, we take high-level review of major issues faced by private fund managers investing across the globe. In August and September, private fund managers with U.S. investors faced the broadest expansion of SEC regulation since Dodd-Frank, while European managers worked through the details of ESG reporting. Enforcement continued to be laser-focused on digital assets (but courts didn’t always agree with them), Finfluencers, custody and marketing, while new employment and privacy requirements raised unique issues for asset managers.
Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector has placed OJK in a more central position to investigate crimes in the financial services sector. As an implementing rule, OJK has issued Regulation Number 16 of 2023 on Investigation of Crimes in the Financial Services Sector which covers, among other things, the general scope of crimes in financial services sector, members of authorized teams of investigators, the investigative authorities and powers, and available alternative settlement mechanics.
Following a five-year legislative process, India’s Digital Personal Data Protection Act (DPDP) received presidential assent on 11 August 2023. Practically speaking, the DPDP is not yet enforceable as the government still needs to establish the Data Protection Board of India (Board), which will serve as the enforcement authority for the law. The Board, in turn, must implement certain legally binding rules before the DPDP becomes fully operational.
On 11 July 2023, Indonesia’s house of representative (known as Dewan Perwakilan Rakyat Indonesia/DPR RI) approved the 2023 draft health law. A month later, the President enacted Law No. 17 of 2023 on Health (“Health Omnibus Law”) through the state secretariat. The Health Omnibus Law contains provisions on matters such as pharmaceutical preparations, medical devices, healthcare services, healthcare technology (including telehealth and telemedicine), R&D and other compulsory measures.
Important amendments to the Companies Act, No. 71 of 2008, which came into effect on 1 April 2023 and the Companies Regulations, 2011, which came into effect on 24 May 2023, have implications for companies registered and incorporated in accordance with the laws of South Africa.
The law addresses for the first time the processing of personal data via autonomous and semi-autonomous systems
In 2022 and 2023, following the collapse of the key global players in the crypto industry, regulators around the world closely scrutinized crypto activities and tightened the regulations for digital asset businesses. This tightening primarily concerns the protection and segregation of customers’ assets, which has become standard practice since the crypto crash. To keep up with the dynamic and evolving regulatory developments, we have revised this publication to provide an updated overview of regulations pertaining to digital assets in Thailand.
In June 2023, the Office of the Privacy Commissioner for Personal Data issued an updated Guidance on Data Breach Handling and Data Breach Notifications (“Guidance”). The Guidance updates a non-binding, end-to-end framework for data users to tackle data breaches, including recommended elements that go into a data breach response plan, questions that need to be addressed in the course of investigating a data breach incident, how to make a data breach notification and tips for preventing recurrence of data breaches.