On 25 November 2021, the United Nations announced that all 193 member states of the United Nations Educational, Scientific and Cultural Organization, including Singapore, adopted a first-of-its-kind global agreement on the ethics of artificial intelligence. The agreement focuses on the broader ethical implications of AI systems in relation to education, science, culture, communication and information; and articulates common values and principles to assist in the creation of legal infrastructure for the healthy development of AI.
On 9 December 2021, Singapore and the UK substantially concluded negotiations on the UK-Singapore Digital Economy Agreement (UKSDEA). The UKSDEA covers key areas of the digital economy, such as data, artificial intelligence, fintech, digital identities and legal technology.
Join us for our 19th Annual Global Trade and Supply Chain Webinar Series entitled, “International Trade Developments in a Challenging New World,” which includes the latest international trade developments. This year, in a variety of sessions, our panels of experts will cover the key developments and latest trends on sanctions, export controls and Foreign Investment Review regimes. On the inbound side, there will be sessions on opportunities and compliance challenges arising out of FTAs, hot topics on Customs valuation, trends in customs audits and supply chain compliance challenges and logistics.
Biotech and pharma companies undertaking capital raisings can approach the world’s capital markets in various ways. Through an initial public offering (IPO), listing either in its home jurisdiction or cross-border, biotech and pharma companies can access major global finance hubs and capital from a deep pool of investors around the world. An IPO can help a company raise its profile with customers, suppliers and the media, as well as providing it with an opportunity to improve internal systems and controls, and increase the general operating efficiency of the business as it prepares to comply with the relevant regulatory scheme for public companies.
Mining companies undertaking capital raisings can approach the world’s capital markets in various ways. Through an initial public offering, listing either in its home jurisdiction or cross-border, a mining company can access major global finance hubs and capital from a deep pool of investors around the world.
In addition, an IPO can help a mining company raise its profile with customers, suppliers and the media, as well as providing it with an opportunity to improve internal systems and controls, and increase the general operating efficiency for the business to conform with the regulatory scheme for public companies.
On 22 November 2021, the Ministry of Justice published the latest version of the Draft Decree amending Decree No. 72/2013/ND-CP1 on the management, provision and use of internet services and online information submitted for its final legal assessment. There is no exact deadline for this round of consultation.
Subsequent to our client alert issued in November 2021 in relation to cloud service regulation in Malaysia, the Malaysian Communications and Multimedia Commission has since shed light on the scope of the licensing regime and the availability of a grace period until 31 March 2022 to those affected to fully comply with the new licensing requirement.
Healthtech gained tremendous attention during the past year or so as a result of the pandemic-driven lockdowns and restrictive circumstances. As we discussed in the past, government agencies around the world had invariably leveraged technology to support healthcare delivery and services over the years, and these efforts have accelerated in response to the pandemic. In the case of Thailand, based on its 10 year national health security plan, the Ministry of Public Health has progressed and implemented its policy by working with relevant government agencies such as the Food and Drug Administration, the Medical Council of Thailand, the Pharmacy Council and the National Broadcasting and Telecommunications Commission to develop and issue guidelines for telehealth services.
On 9 December 2021, the Medical Device Coordination Group published a question and answers document concerning obligations applicable to importers and distributors under Articles 13 and 14 of Regulation (EU) 2017/745 on medical devices and Regulation (EU) 2017/746 on in vitro diagnostic medical devices.
On 25 November 2021, the European Commission adopted Implementing Regulation (EU) 2021/2071 subjecting vaccines against COVID-19 and active substances used for the manufacture of same to export surveillance for a period of 24 months starting from 1 January. This Regulation will replace the existing regulatory framework requiring vaccine exports to be subject to an authorization by Member States.