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In AML & Financial Services Regulatory

Hong Kong: Court of First Instance discusses exemptions in disqualification orders made against directors of listed companies

by , , and 5 Mins Read

The Court of First Instance has recently discussed the Court’s discretionary power in allowing private companies to be carved out from disqualification orders made against former directors of a listed company under s.214 of the Securities and Futures Ordinance (“SFO”). The Court retains discretion in deciding whether exemptions to disqualification orders should be granted in the circumstances. We discuss the principles and key factors considered by the Court in dealing with such carve-out applications below.

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In Asia-Pacific

Singapore: Committee reconvened to guard against profiteering on essential food items and household products

by and 4 Mins Read

Following the Government’s announcement on the increase in the Goods and Services Tax (GST) rate starting 1 January 2023, the Committee Against Profiteering (CAP) has been reconvened. The CAP will guard against companies unjustifiably raising prices on the pretext of the increased GST rate and address concerns from consumers regarding such unjustified price increases under the guise of the GST hike.

In AML & Financial Services Regulatory

UK Disputes Soundbites – Perspectives from Baker McKenzie’s London Dispute Resolution practice

by , , and 3 Mins Read

We are sharing an episode from the FInsight podcast series as part of the UK Disputes Soundbites series, because of its interesting findings, predictions and exploration of trends in the evolving disputes landscape, with reference to our fifth annual report, The Year Ahead: Global Disputes Forecast 2022.
Hear partners Amy Greer (New York), Marc Thorley (London) and Carolina Duque (Bogota) discuss key findings relevant for financial institutions and the factors driving the increase in disputes and emerging concerns related to liabilities. They also cover litigation around digital transformation, tax, ‘business-as-usual’ conduct, and; new environmental, social, and governance (ESG) standards.

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In AML & Financial Services Regulatory

Global Financial Services Regulatory Momentum Monitor

by , , , , , , , , , and 1 Min Read

The Financial Services Regulatory (FSR) Momentum Monitor is a horizon-scanning tool enabling financial service providers to plan and prepare for coming developments across the jurisdictions in which they operate. Grouping upcoming changes into key business-relevant themes, the FSR Momentum Monitor highlights the extent and expected impact of upcoming regulatory intervention in multiple jurisdictions across the globe.

In Europe

United Kingdom: The UK found to have failed to fulfil customs control and availability of EU own resources obligations regarding undervalued imports of textiles and footwear from China

by and 2 Mins Read

The European Court of Justice released its judgement on 8 March 2022 in relation to Case C-213/19 (Commission v United Kingdom), concerning the UK’s undervaluing of imports of textiles and footwear from China and associated failure to fulfil obligations regarding customs control and the recovery of EU own resources, through failing to adopt measures necessary to combat fraud.

In Antitrust / Competition

Australia: ACCC consults on regulatory reform for digital platforms

by , , and 9 Mins Read

On 28 February 2022, the Australian Competition and Consumer Commission opened a public consultation on options for legislative reform to address concerns relating to the perceived dominance of certain digital platform services in Australia. The consultation discussion paper outlines options for addressing potential perceived harms to competition, consumers, and business users across a range of digital platform services markets, such as the social media, search, app, online retail and ad tech markets.

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