July 20, 2022 By: Michael Flynn* Amidst its increased activity in many different areas, the CFPB recently focused on credit reporting responsibilities under the Fair Credit Reporting Act (FCRA) by issuing an advisory opinion. The CFPB highlighted and set out some specific key points regarding credit reporting responsibilities and prohibitions, and offered a reminder about criminal liability under various provisions in the FCRA ...
It has been reported by various news outlets that Ireland’s Data Protection Commission (DPC) has prepared a draft decision which may well lead to the end of EU-US data transfers. This draft decision is a consequence of the concerns which have been raised by USA surveillance laws and practices and comes in the wake of the invalidation of the EU-US Privacy Shield by the Court of Justice of the EU a few years ago ...
Please be informed that a new Counter-Sanctions Regime of Making Payments in IP-Related Agreements in Russia was established by the Presidential Decree No. 322 dated May 27th, 2022 “On the temporary procedure for fulfilling obligations in respect of certain right holders” (“Decree No. 322”). It came into force on the date of signing. Download the file to see more. https://alrud ...
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Impact on the activity of the pharmaceutical industry At the end of 2021, two laws were published to regulate the general framework for the prevention of corruption in the activity of companies: (i) Decree-Law 109-E/2021 of 9 December, which establishes the general rules for the prevention of corruption (“RGPC”) and (ii) Law 93/2021 of 20 December, which creates rules to protect whistleblowers (“RJPDI”) ...
Stanford Economist Nick Bloom Shares WFH Trends and Predictions View Webinar More than two years into the pandemic, businesses are still wrestling with how to best navigate return to office (RTO). Firms that do it right stand to increase retention, equity, and business performance and forge a new culture of collaboration. But widely varying and evolving business and employee needs make it difficult to unravel the best course of action ...
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 ...
Electronic System Organizers (“ESO”) in the private sector, that include foreign private ESOs, which have been registered with the Minister of Communication and Informatics Regulation (“MOCI”) are subject to a number of obligations under MOCI Regulation No. 5 of 2020 on ESOs in the Private Sector as amended by MOCI Regulation No. 10 of 2021 (“MOCI Regulation 5/2020”), as the implementing regulation of Government Regulation No ...
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 ...
Metaverse, is the virtual-reality space in which users interact via computer-generated environment, something similar to what already exists on gaming platforms. It is a simulated digital environment that encompasses a network of 3D virtual worlds focused on social connection. Non-fungible tokens and their underlying technology have surged the market value of digital assets ...
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 ...
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 ...
Proposal for a regulation of the European Parliament and of the Council on standards of quality and safety Current regulatory framework and scope of application The EU regulatory framework on substances of human origin (“SoHO”) is reflected in Directives 2002/98/EC for blood and 2004/23/EC for tissues and cells ...
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 ...
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 ...
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 ...
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 ...
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 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 ...
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 ...
