In the course of 2022, the Health Protection Command of the Carabinieri Corp enforced 61 orders, issued by the competent directorates general of the Ministry of Health, providing for the shutdown of websites selling different types of prescription-only medicines in breach of the existing legislation.
On 31 May 2022, the National Coordination Centre of Ethics Committees updated the templates for the conduct of clinical trials on medicinal products and clinical investigations on medical devices that identify the minimum content of the agreement between sponsors/CROs and clinical sites to ensure the uniformity of administrative, economic and insurance aspects.
The fourth instalment of Baker McKenzie’s TMT Looking Ahead delves into 5G, which, with its high speed, ultra-low latency and ability to simultaneously connect multiple devices, continues to drive global business opportunities. 5G use cases are increasingly popular in all levels of infrastructure and across industries and, as such, continue to attract the scrutiny of governments and regulators. In this episode of TMT Talk, Raffaele Giarda, Stephen Crosswell, and Mackenzie Martin discuss the evolving regulatory landscape that applies to 5G, with a particular focus on antitrust and patents.
In the latest episode in the series, Episode 27: Fintech in South Africa and the Sub-Saharan African Region, Ashlin Perumall, a partner from our Corporate and M&A practice in Johannesburg and Sarah Williams, an associate from our financial services practice in London, discuss the fintech landscape in South Africa and other key markets in Sub-Saharan Africa. They take a closer look at investment drivers and opportunities, current and emerging market segments, and key commercial and regulatory developments affecting the fintech ecosystem in the region.
By means of Communication “A” 7532, the Central Bank of Argentina established new restrictions regarding access to the foreign exchange market for the payment of imports of goods and the payment of imports of services to unrelated counterparties, among others.
On 24 June 2022, China’s National Peoples’ Congress approved far reaching amendments to China’s Anti-Monopoly Law which become effective from 1 August 2022 (“AML Amendments”).
Alongside the AML Amendments, the State Administration for Market Regulation has issued for public comment proposed updates to key implementing rules and regulations concerning cartels and vertical restraints, abuse of dominance, merger control and abuse of IP rights.
Of particular relevance to business operations in China and M&A activity, the AML Amendments include stricter penalties for antitrust violations; increased enforcement powers; revised thresholds for merger control; an express prohibition of hub & spoke arrangements; potential exemptions/defenses for certain vertical restraints including resale price maintenance, and continued scrutiny of the platform economy.
On 22 June 2022, the Commissioners of the Federal Economic Competition Commission (COFECE) approved conducting a research study on competition in the digital financial services market. The Market Study’s purpose is to analyze the structure, operation and regulatory framework of the digital financial services sector in Mexico.
The digital financial services considered in the study include electronic payment and crowdfunding services, those offered by Financial Technology Institutions, also known as Fintech, which are regulated by the Law to Regulate Financial Technology Institutions.
According to COFECE, the Market Study is important because the financial services sector contributes a significant percentage of the country’s Gross Domestic Product, and digital financial services can also influence the financial options available to users and facilitates credit access to small and medium-sized companies.
In this edition of In the Know, we will provide a “primer” in respect of the developments in the digital bond space, using the European Investment Bank bond as a potential bellwether event for future development in our markets and then try and address some fundamental questions — what does all this mean for our market? Where are we headed now?
In the early hours of 17 June 2022, the Ministerial Conference of the World Trade Organization adopted a package of decisions after five days and nights of intense negotiations that appeared to be teetering on the brink of collapse. With the WTO’s credibility on the line, trade ministers were able to compromise and reach consensus at the last minute, reaffirming the WTO’s capacity to deliver multilateral trade rules and provide trade-related responses to some of the most pressing global issues. The “Geneva Package” includes decisions on: (i) fisheries subsidies; (ii) a partial waiver of patent protections under the Agreement on Trade-Related Aspects of Intellectual Property Rights in relation to COVID-19 vaccines; (iii) a moratorium on customs duties on electronic transmissions; and (iv) WTO reform.