This summer, a major reform relating to personal data, in Russia, has been instigated. New privacy regulations entered into force on September 1st, 2022. These introduced a number of new requirements to data processing activities. Part of the new requirements, including new cross-border data transfer rules, will come into force from March 1st, 2023 ...
At the time, most captive owners (and their advisers) were attracted by Bermuda's perceived economic, social and political stability, its strong infrastructure, its close proximity to New York and a legal system that tended to follow the English common law and provided for an ultimate right of appeal to the Privy Council in the U.K ...
The strategy for the application of Portugal 2030 was designed around five main objectives of the European Union1: a smarter, greener, more connected, more social Europe that is closer to its citizens. At the national level, these strategic objectives of the European Union are embodied in four thematic agendas of the Portugal 2030 strategy2 ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
September 6, 2022 By: Michael Flynn* Continuing a recent trend, the CFPB has asserted that its oversight authority regarding unfair, deceptive, and abusive practices (UDAAP) to assert that certain digital marketers, including what it refers to as “Big Tech,” face potential UDAAP liability and oversight from the CFPB ...
On September 1st. 2022, amendments to the Federal Law 'On Advertising' of 13.03.2006 N 38-FZ (the 'Advertising Law') came into force. Now, advertisements on the Internet are subject to mandatory labeling and registration, which significantly complicates such advertising on the Internet, in Russia ('online advertisement'). In this regard, we present you an overview of the key changes, that companies need to take into account, when distributing online advertisements. Download the overview ...
The Government of Vietnam issued Decree 53/2022/ND-CP dated 15 August 2022 (“Decree 53”) detailing a number of articles in Vietnam’s Law on Cybersecurity (2018) which took effect as from 1 January 2019 (“Law on Cybersecurity”). As with most laws in Vietnam, decrees and circulars and other subordinate legislation, provide more detailed information, forms, and other guidelines to help implement the law in an efficient manner ...
On 23 February 2022, the EU Commission proposed measures regulating the use and access of data, not being ‘personal data’ as understood by the GDPR, within the European Union across all economic sectors. The regulation of the use of data is essential given that data continues to be generated yet underutilised. The draft Regulation is to be read in conjunction with the EU’s Data Governance Act ...
The EU GDPR (Regulation 2016/679/EU) came into effect across the EU on 25 May 2018. Many organisations in the EU, including Malta, have now implemented measures to comply with this important law. However, there are many questions that are asked on a regular basis. This webinar will: 1 ...
pOver the last several years, traditional insurance has become increasingly expensive as insurers use risks and claims associated with the COVID-19 pandemic, geopolitical risk, supply-chain disruption, inflation and intensifying severe weather events to justify premium raises and coverage reductions ...
Kongkoch Yongsavasdikul, partner and co-head of startup practice, was invited to be a panel discussion speaker at the Chulalongkorn University Technology Center (UTC) on the topic “Key Legal Issues when Considering a Spin-off” to share his knowledge on the legal issues that investors should be aware of before considering a spin-off. Other panel speakers include Lect. Dr ...
Platform work entails the use of an online platform, serving as an intermediary between the clients and the workers for the performance of particular services or to carry out particular jobs in return for payment. In this way, division of work into specific jobs is favoured over a long-standing employment relationship ...
On the 5th August 2022, the Malta Financial Services Authority (hereinafter referred to as “the MFSA”) issued a Circular on the amendments to: the Glossary of Terms, Chapter 5 of the Insurance Rules and the Insurance Business (Exemptions) Regulations ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for August 2022. Financial Services Securities Commission Malaysia Issues Consultation Paper on Proposed Regulatory Framework for Technology Risk Management by Capital Market Entities Islamic Financial Services (Minimum Amount of Capital Funds or Surplus of Assets Over Liabilities) (Licensed Person) (Amendment) (No ...
Thanyaluck Thongrompo, partner of Kudun and Partners, was invited to be a speaker at the Faculty of Business Administration, Maejo University on the topic “Digital Assets Law in Thailand” where she shared her knowledge and experience in handling digital asset matters in Thailand. This seminar is a part of the business administration students’ academic program that focuses on derivatives, with digital assets being one of the most popular topics of recent ...
August 15, 2022 By: Michael Flynn* Continuing a trend it has been pursuing, the CFPB on Thursday used a non-rulemaking circular (Consumer Financial Protection Circular 2022-04) to state that its UDAAP authority extends its enforcement authority to situations where financial institutions have insufficient data protection or information security. The circular may be found here ...
Dear valued clients, colleagues and friends, Our TMT Partners, Christina Kow and Timothy Siaw, have co-authored the Malaysian chapter of The International Comparative Legal Guides — Fintech 2022. The chapter covers a broad overview of the development of Fintech and its regulation in Malaysia. Click here to read more. This article was first published in the ICLG —Fintech.https://www.shearndelamore.com/publication/2022/FIN22_Chapter_26_Malaysia ...
On 18 July 2022, the UK government introduced the new Data Protection and Digital Information Bill (Bill). What is the Bill? The new Data Protection and Digital Information Bill contains the government’s proposals to reform the UK’s data protection regime. The Bill quickly follows the government’s publication in June of its response to its consultation on the Data Reform Bill carried out in Autumn 2021 ...
In order to provide clarity regarding the tax obligations of financial technology providers and users in Indonesia, Indonesia’s Minister of Finance (“MOF”) issued MOF Regulation No. 69/PMK.03/2022 on the Income Tax and Value Added Tax on the Organization of Financial Technology (“MOF Reg 69/2022”) on 30 March 2022, which came into force on 1 May 2022 ...
Under Government Regulation 71 of 2019 on the Implementation of Electronic Systems and Transactions, Electronic System Organizers (“ESO”) are required to be registered with the Ministry of Communication and Informatics (“MOCI”). In addition, under MOCI Regulation 5 of 2020 (as amended by MOCI Regulation 10 of 2021), this registration obligation must be complied with within 6 months of OSS-RBA licensing coming into effect ...
