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In Antitrust / Competition

Singapore: CCCS fines warehouse operators for price-fixing

by and 5 Mins Read

On 17 November 2022, the Competition and Consumer Commission of Singapore issued an infringement decision against four warehouse operators for infringing section 34 of the Competition Act 2004. The four warehouse operators had entered into a price-fixing arrangement by imposing a coordinated surcharge, known as the “FTZ Surcharge”, for warehouse services at Keppel Distripark. The FTZ surcharge is a surcharge imposed by warehouse operators on import cargo stored within the Free Trade Zone, and it was first introduced in order to manage rising costs. The CCCS imposed a total financial penalty of SGD 2,799,138 on the four businesses, namely CNL Logistics Solutions Pte. Ltd., Gilmon Transportation & Warehousing Pte. Ltd., Penanshin (PSA KD) Pte. Ltd. and Mac-Nels (KD) Terminal Pte. Ltd.

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In Trade and Foreign Investment

Global: Year-End Review of Import/Export & Trade Compliance 2022

by , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 4 Mins Read

Welcome to our Virtual Year-End Review of Import/Export and Trade Compliance Developments Conference resource center. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major global legislative, judicial and administrative activities and trends in export controls, trade sanctions, customs compliance, and import requirements in nine 75 minute sessions which took place from 15 to 17 November 2022.

In Trade and Foreign Investment

United Kingdom: Deadline for UKCA marking extended by two years

by , and 1 Min Read

On 14 November, the UK Government confirmed that it would continue to recognize the CE marking in Great Britain for another two years (until 31 December 2024) giving businesses extra time to prepare for the mandatory introduction of the UK Conformity Assessed (UKCA) marking. Businesses can continue to use the new UKCA marking voluntarily until then, giving them flexibility to choose which marking to apply.

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In

Argentina: Federal public awareness campaign on cybersecurity and cybercrime prevention

by , and 2 Mins Read

On 1 November 2022, the National Ministry of Security approved the adhesion template and framework agreement template for the federal campaign “STOP. THINK. CONNECT. Argentina” — a campaign for public awareness on cybersecurity and cybercrime prevention. The Ministry has invited the provinces and the city of Buenos Aires to join the Campaign. The main goal of the initiative is to generate, disseminate and implement materials, training and good practices to raise awareness about cybersecurity and cybercrime.

In Product Regulation & Liability

United Kingdom: UK Conformity Assessed markings delayed until 1 July 2024

by , and 2 Mins Read

The UK government has announced that the implementation of the future UK Medical Device Regulations will be pushed back from 1 July 2023 to 1 July 2024. The MHRA’s announcement means that CE-marked products will continue to be accepted in Great Britain and manufacturers will only be required to obtain a UK Conformity Assessed mark from July 2024. As a result, this extension will provide manufacturers an extra year to ensure that their products are compliant with the new UK regime.

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In AML & Financial Services Regulatory

European Union: Crypto Regulation – MiCA Takes its (Near) Final Shape

by , , , , , , , and 2 Mins Read

In October 2022, the Council of the EU published the long-awaited compromise text of the proposed Regulation on Markets in Cryptoassets (MiCA), a “landmark regulation” that, according to the Council, will “put an end to the crypto wild west”. Once in force, MiCA will establish the first comprehensive, pan-EU regulatory regime for the regulation of cryptoassets, including the regulation of (i) cryptoassets issuance activities and (ii) cryptoasset service providers (who will be held to similar regulatory standards to those imposed on investment firms).

In Antitrust / Competition

Mexico: COFECE investigates the market of services related to credit card transactions

by , , and 4 Mins Read

On 27 October 2022, the Investigating Authority of the Federal Economic Commission (COFECE) published a notice initiating an investigation into the marketing of services related to credit card transactions in the form of deferred payments with interest-free months due to alleged absolute monopolistic practices (or cartel practices), in particular, price fixing and the exchange of commercially sensitive information.

In Product Regulation & Liability

United Kingdom: MHRA publishes “roadmap” for AI and software as a medical device

by , and 3 Mins Read

The UK government has recently published its roadmap for regulating AI as a medical device (AIaMD) and software as a medical device (SaMD). This will form part of the basis of the upcoming UK Medical Device Regulation reforms in 2024. In light of the operational difficulties faced by the NHS, AIaMD and SaMD are attractive solutions to alleviate pressures on the UK health system. Yet these products are complex and require a high level of regulatory scrutiny to ensure effectiveness and protect the safety of patients.

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