On February 10, 2022, the Ministry of Industry and Information Technology (“MIIT”) issued a second draft of the Measures for Administration of Data Security in the Field of Industry and Informatization (for Trial Implementation) (Draft for Comment) (the “Measures”), which makes revisions to the first draft in response to public comments received following its issuance on September 30, 2021. This second draft opened for public comments until February 21, 2022 ...
Dear valued clients, colleagues and friends,We are pleased to bring you the latest legal updates for February 2022.Tax & RevenueThe Income Tax (The Incentive for Manufacturers of Pharmaceutical Products Scheme) Rules 2022 have been gazetted on 17 February 2022 and have effect from year of assessment 2021 ...
This article examines whether the UK competition authority's decision means a change in the analysis of mergers in the digital economy. On 30 November 2021 the Competition and Markets Authority (CMA) concluded in its Report that its concerns can only be addressed by Facebook selling GIPHY in its entirety to an approved buyer ...
The European Commission has released the long-awaited proposal for a directive on corporate sustainability due diligence. As expected following the resolution approved by the European Parliament on 10 March 2021, the implications for companies are many and will have an impact on their organisation and the way they conduct themselves. The directive also affects the companies and other organisations they have commercial relations with ...
German fuel distributor Mabanaft and its related company Oiltanking Deutschland recently suffered a substantial cyber-attack causing significant disruption to their business operations. In response they declared force majeure on a number of their contracts ...
The word on the street is that everybody wants an ERP system, but no one wants to use it. Or rather, no one will use it the way it has been set up as a standard solution. People in general do not like changes. Therefore, the ERP system must first be adapted so that the organisation can work in the same way as it did before. Only then will the organisation be willing to use it. Present ERP systems are better and more mature compared to the ERP systems only a few years ago ...
ALRUD Regulatory practice is proud to present you the Regulatory Guide for the Third Quarter of 2021. The points of focus of this regulatory guide are product compliance, regulatory enforcement and environment protection. Most, if not all, of the topics commented in this guide have strategic importance for the Russian regulatory field ...
The courts have always dealt with big issues and complex questions. But are the courts the right place to tackle perhaps the biggest issue of all? In recent times there have been a number of high profile court actions relating to climate change, leaving courts in various parts of the world grappling with this complex and difficult issue ...
With a low percentage of Nigeria’s population investing in the stock market and fewer Nigerians interested in investment opportunities, the rise ofRoboAdvisors is a welcome alternative in the financial advisory market (“the Market”) in Nigeria. In a bid toregulateand strengthen the Market, the Nigerian Security and Exchange Commission (“SEC”) recently rolled out the rules onRoboAdvisory services (‘the Rules”) in Nigeria ...
The Oregon legislature is currently considering, as part of its February 2022 session, three bills that form a comprehensive set of changes to the Oregon Forest Practices Act (Senate Bill 1501), create a small forestland owner tax credit (Senate Bill 1502), and update the forest harvest tax (House Bill 4055). The bills stem from negotiations between private forestry companies, small woodland owners, conservation groups, and fishing organizations ...
On Feb. 9, 2022 the SEC proposed rules related to cybersecurity risk management for investment advisers and registered investment companies, as well as amendments to certain rules that govern adviser and fund disclosures ...
In Stadler v Currys, the High Court awarded summary judgment against a claimant who alleged distress following an inadvertent data breach. Here, Philip Tansley and Kathryn Williamson consider the court's reasoning and the implications of the decision. Introduction The High Court has last week handed down yet another useful judgment for defendants facing claims for breach of UK GDPR, misuse of private information, breach of confidence and negligence as a result of a data breach ...
Key Points SB 343 regulates use of “chasing arrows” recycling symbol; AB 1201 extends composting regulations to all products including home compostable claims. Food manufacturers face public and private enforcement risks. SB 343 – Truth in Labeling for Recyclable Materials SB 343 amends existing law that makes it unlawful to use any misleading environmental marketing claims on product packaging. Specifically, SB 343 amends Public Resources Code Section 42355 ...
Key Points Before a party may sue to seek a refund of allegedly excessive property-related fees, like municipal water rates, their pre-suit Government Claims Act presentation must “fairly describe” each way in which the fees violated Proposition 218, or risk dismissal. Proposition 218 does not apply to penalties that water agencies impose on customers who fail to timely pay water bills. Do not overlook the Government Claims Act ...
The Norwegian Data Protection Authority has notified Stortinget of an infringement fine of two million kroner and imposed an infringement fine of four million kroner on Østre Toten municipality. In both cases, the Authority emphasizes that it is a clear management responsibility to secure the business against such attacks, and that two-factor authentication, awareness-raising and an appropriate risk and vulnerability analysis are key measures ...
Background On February 4, 2022, Law No. 21.420 was enacted, which reduces or eliminates the indicated tax exemptions thereof. This law seeks the financing of the new Guaranteed Universal Pension (PGU) in a sustainable way over time, including a series of amendments to the Mining Code, among others. Modifications Exploration Mining Concession The duration of the concession is increased from 2 to 4 years, eliminating the possibility of requesting an extension ...
The UK Government has put forward for approval by Parliament a new safeguard mechanism for international transfers, known as the International Data Transfer Agreement (IDTA), that will impact organisations transferring personal data out of the UK. If approved, the IDTA will apply from 21 March 2022, and we would encourage affected organisations to review their data transfer processes now ...
What is Fintech? The term fintech refers to the technologising of the financial industry. Fintech has become ever more recognized in the past few years, especially amidst COVID-19 in which demand for cashless payments and quick transactions have increased. Fintech exists in our daily lives from online banking to blockchain and to cryptocurrencies ...
On December 25, 2021, the federal government passed proposed regulations that, as the name implies, prohibit (or restrict, in some cases) the manufacture, import and sale of certain single-use plastics that pose a threat to the environment. Provided that such regulations are adopted, the government intends for them to come into force as early as the end of 2022 ...
On December 25, 2021, the federal government passed proposed regulations that, as the name implies, prohibit (or restrict, in some cases) the manufacture, import and sale of certain single-use plastics that pose a threat to the environment. Provided that such regulations are adopted, the government intends for them to come into force as early as the end of 2022 ...
As June 2022 approaches, many companies in Thailand are focusing on and racing towards the implementation of compliance mechanisms in advance of the adoption of the Personal Data Protection Act (“PDPA”), Thailand’s new and all-encompassing data protection legislation. This new law will significantly impact businesses that handle personal data. It sets out heavy fines and penalties which will be imposed upon organizations that mishandle clients’ personal data ...
