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In Asia-Pacific

Philippines: Amendments to the Retail Trade Liberalization Act passed into law

by and 6 Mins Read

On 10 December 2021, Republic Act No. 11595, otherwise known as “An Act amending Republic Act No. 8762 or the Retail Trade Liberalization Act of 2000 (RTLA), by lowering the paid-up capital requirement for foreign retail enterprises and other purposes” was signed into law. It removes the requirement for a Certificate of Prequalification and the need to show compliance with the criteria for prequalification under the RTLA to the Philippine Board of Investments, before a foreign retailer can invest in or engage in a retail trade business in the Philippines.

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In Latin America

Venezuela: Ministry of Health issues guidelines for the labeling of foods containing sugar and saturated and trans fat

by 4 Mins Read

The Ministry of Health issued Resolution No. 137 of 2 December 2021 (“Resolution”) that establishes the guidelines for the labeling of foods for human consumption that contain (i) sugar, (ii) saturated fats and (iii) trans fats. The Resolution entered into force on 7 December 2021. The Resolution regulates the labeling of foods through the use of front labeling on the containers and is applicable to manufactured or packaged foods that are marketed in the country.

In Global

International: Consultation on implementation of the OECD’s Pillar Two regime into UK domestic law

by , and 5 Mins Read

On 11 January 2022, the UK government published a consultation on the implementation of the Pillar Two regime into UK domestic law. This follows the publication of the GloBE Model Rules by the OECD on 20 December 2021. The consultation is open until 4 April 2022, with the expectation that draft legislation will be published during the summer. The consultation indicates that an Income Inclusion Rule (IIR) would take effect in UK law from 1 April 2023, with the Undertaxed Profit Rule (UTPR) following on 1 April 2024.

In Antitrust / Competition

Malaysia: Key changes to the rules on take-overs, mergers and compulsory acquisitions

by 2 Mins Read

On 28 December 2021, the Securities Commission of Malaysia revised the Rules on Take-overs, Mergers and Compulsory Acquisitions (Rules). The effective date of the revisions is 29 December 2021. This Alert focuses on the key amendments introduced to the Rules and a comparison against equivalent provisions under the United Kingdom’s Takeover Code, the Singapore Code on Take-Overs and Mergers and the Hong Kong Codes on Takeovers and Mergers and Share Buy-Backs.

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In Europe

Spain: Amendment of Law 12/2013 on measures to improve the functioning of the food supply chain (Law 16/2021 of December 14, 2021)

by 5 Mins Read

Law 16/2021 of December 14 was published on December 15, which modifies Law 12/2013, of August 2, on measures to improve the functioning of the food chain. This new reform intends to respond to the continuous claims of farmers in the agricultural and food sector, taking advantage of the framework of the transposition of the Spanish legal system of Directive (EU) 2019/633 of the European Parliament and of the Council, of April 17, 2019, related to unfair business practices in relationships between companies in the agricultural and food supply chain.

In Asia-Pacific

China: Employment law update | January 2022

by , and 1 Min Read

In this issue: Supreme People’s Court and Ministry of Human Resources and Social Security jointly issue guidance on overtime and working hours issues; Government provides administrative guidance for leading platform enterprises in order to protect gig workers; Beijing announces top 10 typical employment dispute arbitration cases of 2021; Company succeeds in liquidated damages claim against social media influencer; Ministry of Human Resources and Social Security and three other authorities issue document supporting young people from Hong Kong and Macao to take up employment or start a business in the Greater Bay Area

In Cybersecurity, Data and Tech

Czech Republic: Changes to the Electronic Communications Act new rules relating to cookies and telemarketing effective as of 1 January 2022

by 6 Mins Read

With effect from 1 January 2022, the provisions of the recent amendment of Act No. 127/2005 Coll., on Electronic Communications and on Amendment to Certain Related Acts relating to the storing and accessing of cookies and other information on users’ devices and telemarketing, have become effective.

In Antitrust / Competition

Switzerland: Advertisements displayed in inbox only possible with users’ consent

by and 7 Mins Read

On 25 November 2021 (Case C-102/20), the European Court of Justice (ECJ) ruled that displaying advertisements directly in the e-mail inbox, so-called inbox advertising (“Inbox Werbung”), is only permissible with the recipient’s prior consent. The ECJ’s reasoning can also apply to the legal situation in Switzerland on the basis of the provisions of the Federal Act against Unfair Competition.

In AML & Financial Services Regulatory

United Kingdom: New UK “CFIUS” regime kicks in – commencement of National Security and Investment Act

by , , and 3 Mins Read

On 4 January 2022, the new UK foreign investment review regime under the National Security and Investment Act came into force, completing the overhaul of the UK’s foreign investment rules and commencing operation of a standalone foreign investment screening regime for the first time in the UK.

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