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In Corporate Compliance

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 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.

In Asia-Pacific

Malaysia: Personal Data Protection Department issues new guidelines, circulars and codes of practice

by , and 4 Mins Read

Earlier this year, the Malaysian Personal Data Protection Department released several documents to aid data users in their compliance with the Malaysian Personal Data Protection Act 2010 – these include a guide on privacy notices, new codes of practice applicable to the private healthcare industry and the water utilities industry, as well as circulars reminding prescribed classes of data users of their registration obligations.

In Asia-Pacific

Philippines: For Immediate Action – Renewal of DPO Registration with the National Privacy Commission

by , and 4 Mins Read

In an announcement made on 4 March 2022, the Philippine National Privacy Commission officially extended the validity of all existing Certificates of Registration issued in 2021 from 8 March 2022 to 8 March 2023. For Certificates of Registration issued in 2020 or earlier, which are expiring this 8 March 2022, the NPC is directing all affected personal information controllers and personal information processors to renew their registration with the Commission.

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In AML & Financial Services Regulatory

United Kingdom: The changing regulatory landscape for crypto advertising

by , , and 2 Mins Read

On 18 January 2022, HM Treasury confirmed that it will bring certain cryptoassets into the scope of the financial promotion regime. The Treasury’s view is that the evidence of risks to consumers provides a strong case for intervention, and as such it intends to expand the scope of the Financial Promotions Order to include cryptoassets. The Treasury’s announcement was followed the next day by the launch of an FCA consultation on strengthening the financial promotion rules for high-risk investments, including cryptoassets.

In Asia-Pacific

Singapore: Cyber Security Agency advises businesses to strengthen cybersecurity posture against cyberattacks

by and 4 Mins Read

The Singapore Computer Emergency Response Team (SingCERT), set up by the Cyber Security Agency of Singapore to facilitate the detection, resolution and prevention of cybersecurity-related incidents on the internet, has issued a list of measures that organisations should adopt to ensure proper cyber hygiene controls are in place and operating correctly. SingCERT’s advisory is issued on the basis of warnings of increased cyber threats globally arising from the recent cyberattacks on Ukraine and the developments in the invasion of Ukraine by Russia.

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