On 6 October 2021, the Ministry of Information and Communications released a proposal to amend the Law on Telecommunications, including an outline for the proposed amendments. The outline of the new Law is still in a skeletal proposal form.
In November, the United States announced that Ethiopia, Guinea and Mali would be terminated from the African Growth and Opportunity Act (“AGOA”) trade preference program, unless they took urgent action to meet eligibility criteria by 1 January 2022. AGOA eligibility requirements include, among other things, that countries must follow the rule of law and implement economic policies that reduce poverty and combat corruption and bribery. Countries must also protect internationally recognized human and worker rights, and must not engage in activities that undermine national security interests.
Effective 1 January 2022, cloud service providers in Malaysia will be subjected to licensing requirements under the Malaysian Communications and Multimedia Act 1998. Technical standards are also expected to be implemented in due course to ensure that licensed cloud service providers comply with prescribed requirements as to data security and data protection. Cloud service providers are advised to carefully consider whether the new licensing regime applies to their solutions, and to ensure they are duly licensed when the requirements come into force in the new year.
Financial crime remains at the top of the regulatory agenda across the globe. As responses to the pandemic stabilise, and following some high-profile global incidents, regulators face renewed pressure to manage financial crime more effectively through robust supervision and enforcement. In the October 2021 edition of the City Library’s Compliance Officer Bulletin, our business crime, regulatory and cybersecurity lawyers explore the latest developments in anti-money laundering and financial crime in a series of articles
Baker McKenzie’s 30th International Environment Conference will begin on 9 November 2021 and go until 30 November 2021. These 75-minute weekly webinars will include an overview of key regional differences and how governments approach the resolution of these challenges.
In the Asia Pacific Competition update, we provide you with a practical overview of the most notable antitrust legal developments of the third quarter in 2021 that may affect your business.
In our updated and expanded Guide to Issues for Trades of Non-Performing Loans across Europe and China, we have selected some of the key legal and practical issues to be aware of when conducting a no-performing loan trade in jurisdictions that are strongly anticipated to be key areas of activity.
Major developments in disclosure of risks relating to sustainability have been announced. These developments accelerate a trend towards mandatory and comparable disclosures relating to climate risk and other sustainability issues.
The third day of COP2 focused on long-term climate finance. Scaled-up public finance commitments are critical to building trust between developed and developing countries, and enabling developing countries to deliver on the “conditional’ elements of their Nationally Determined Contributions.
In October 2021, the Medical Device Coordination Group published the Guidance on the classification of medical devices. In particular, the purpose of the Guidance is to ensure the proper application of the classification rules set forth in Annex VIII to the Medical Device Regulation (EU) 2017/745 (MDR).