China has strengthened its commitment to protect personal information by adopting the new Personal Information Protection Law (PIPL 《中华人民共和国个人信息保护法》) which gives data subjects the power to control and determine how, with whom and for what purposes their personal information can be shared, analyzed or handled. Our Firm has previously released a more detailed discussion on the PIPL, which took effect on 1 November 2021.
As part of its post-Brexit trade policy, the UK has established its own independent trade remedies regime. Through its newly-formed Trade Remedies Authority, the UK can now investigate claims of unfair import practices from UK businesses and determine whether the UK Government should introduce trade remedy measures – including anti-dumping duties, countervailing duties and safeguard measures – onto imports into the UK.
ASIC has written to public companies, large proprietary companies and trustees of registrable superannuation entities urging them to review their whistleblowing policies to ensure they are compliant with the Corporations Act 2001.
This week’s discussion will cover the following:
• Tether Holdings CFTC Crypto Settlement: Reminder that the CFTC is asserting a prominent role in the regulation and enforcement of cryptocurrencies.
• SEC Report on January 2021 Market Frenzy: “Staff Report on Equity and Options Market Structure Conditions in Early 2021”
• Will DOJ Prosecute Steve Bannon for Contempt?
This episode goes over the first two fundamental elements of the National Anti-Corruption Commission’s guidelines. The first guidance is where companies’ internal control measures should be strong, visible policies and supported by top-level management to prevent bribery. The second guidance is that companies should conduct risk assessments to effectively identify and evaluate exposure to bribery to government officials.
17 December 2021 is the deadline for all Member States to transpose the new Whistleblower Protection Directive 2019/1937, which obliges businesses with over 50 employees to have a reporting channel. It should be noted that the aim of these new regulations is to exploit the potential for whistleblower protection to strengthen enforcement and set standards for strong protection against any reprisals.
The privilege against self-incrimination has long been a feature of Australia’s common law and recognises the important concept that individuals should not be compelled to incriminate themselves. The privilege has also been protected by legislation, including in sections 128 & 128A of the Evidence Act 1995 (Cth). A recent High Court decision in Deputy Commissioner of Taxation v Zu Neng Shi  HCA 22 considered whether disclosure of privileged information was in the interests of justice.
Reclassification of individuals or activities for one purpose can have knock on consequences to business models and can lead to issues and liabilities in areas such as employment, wage tax, pensions, tax and regulatory. A decision or change in one area of law may be a time to re-assess the business model and consider whether that determination might have wider commercial implications.
The Monetary Authority of Singapore (MAS) recently released a consultation (“Consultation”) on its “Proposed Amendments to MAS’ Investigative and Other Powers under the Various Acts.” The amendments, to be introduced through the Financial Institutions (“Miscellaneous Amendments”) Bill (“proposed provisions”), will expand the supervisory and enforcement powers of the MAS under the following acts: Banking Act (BA); Credit Bureau Act; Financial Advisers Act (FAA); Insurance Act (IA); Payment Services Act (PS Act); Securities and Futures Act (SFA); Trust Companies Act (TCA); and the upcoming new omnibus Act (“new Act”) for the financial sector (collectively, “relevant Acts”).
When world economies face challenges, employment claims of all types rise. COVID-19 impact on work, working life, and the employment relationship has been unprecedented. We’re now in the midst of a pandemic many employers thought we were heading out of, but the Delta variant could make employers’ plans to return to the office even more difficult than originally anticipated.