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Legal Developments in the Philippines: Focus on Data Privacy, Digital Banks and FinTech
SyCip Salazar Hernandez & Gatmaitan, February 2021

This bulletin is on recent Philippine legal developments in data privacy, fintech and digital banks. PRIVACY UPDATE Caring about Sharing: New Rules on Data Sharing Agreements On December 23, 2020, the Philippine data privacy regulator, the National Privacy Commission (NPC) issued NPC Circular No. 2020-03 on data sharing agreements (2020 DSA Circular).1 The circular supersedes NPC Circular No...

Financial Stability Institute (“FSI”) Publishes Bank for International Settlement (“BIS”) Research Paper on Fintech Regulation
Deacons, February 2021

The FSI has published the BIS’s research paper titled “Fintech regulation: how to achieve a level playing field” in February 2021 (the “Paper”). The Paper explores how regulation should evolve to encourage fair competition between traditional banks and new fintech and big tech players...

Bulletin Real Time: Latest News
Brigard Urrutia, February 2021

1. Historic: First vaccine administered in Colombia. A nurse in the Caribbean region of Sincelejo was the first Colombian to be vaccinated in the country. The original plan had been to begin the nationwide vaccination program on Saturday (February 20), but things have moved faster. Sincelejo and Montería began vaccinating today. Bogotá, Medellín, Cali, Barranquilla, Bucaramanga and Cartagena begin tomorrow...

Good Governance in Farming Businesses
Shoosmiths LLP, February 2021

Post-Brexit, it’s now even more important for farming families to understand how changes to direct payments and valuation of farmland can affect succession, asset protection and family disputes. We explain what you need to know. Leaving the EU resulted in the UK leaving the EU’s Common Agricultural Policy (CAP), which paid farmers direct payments and has been a significant source of income for many farmers...

Electronic Certificates Regulation issued by the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency
Makarim & Taira S., February 2021

On 12 January 2021, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency (“MOA”) issued Regulation No.1 of 2021 on Electronic Certificates (“MOA Reg. 1/2021”). This new regulation is intended to optimize the use of information and communication technology by implementing electronic-based land services and thus improve public services and the ease of doing business. Under MOA Reg...

Essential Webinar Series for Employers: DSARs and Other Practical Data Protection Issues for Employers
Shoosmiths LLP, February 2021

With businesses now building back up following the pandemic, focus has moved onto ensuring organisations are as efficient, effective and resilient as possible. Key to this is ensuring that managers are fully equipped to handle workplace issues. The session focuses on dealing with DSARS and other practical data protection issues for employers. The key takeaway points are set out below: Brexit and Data Protection The Data Protection Act 2018 continues to apply in the UK...

Golden Visa: Changes to the Rules on Obtaining a Residence Permit for Investment in Portugal
PLMJ, February 2021

The reasons for the changes to the Golden visa rules: A legislative authorisation in the 2020 State Budget 2020 authorised the Government to review the rules on residence permits for investment provided for in Law 23/2007 of 4 July by the end of 2020. The aim is to encourage investment in inland areas, urban regeneration, cultural heritage, activities of high environmental or social value, and productive investment and job creation...

Adding up the Numbers: DOJ Announces Its False Claims Act Recoveries for 2020
Dykema, February 2021

In January 2021, the U.S. Dept. of Justice (DOJ) announced $2.2 billion in False Claims Act (FCA) recoveries for fiscal year 2020, which ended on September 30.[1] Although this amount is substantial, it nonetheless represents the smallest recovery figure in 10 years. These figures reflect the Trump administration’s unaggressive enforcement efforts and its restrictive view of the FCA. As recently as 2016, FCA recovery exceeded $4.5 billion. Recoveries in 2019 were $3...

Clarity on B-BBEE Annual Reporting Obligations for JSE-Listed Companies, But More is Needed
ENSafrica, February 2021

Over the last few years, companies listed on both the primary and secondary market of the Johannesburg Stock Exchange (“JSE”), have been obliged to comply with increasingly onerous and often unclear reporting obligations in respect of the status of their transformation. On 3 February 2021, the B-BBEE Commission offered some clarity, however, there are still uncertainties that need to be addressed for many JSE-listed companies to overcome reporting challenges...

POPIA: What you Need to Know About the Role of the Information Officer
ENSafrica, February 2021

With the Protection of Personal Information Act, 2013 ("POPIA") deadline closing in on 1 July 2021, many organisations are starting to feel the mounting pressure of becoming compliant with POPIA. A good starting point in any POPIA compliance journey is the appointment of an Information Officer for your organisation.   Who is the Information Officer? POPIA, by default, designates the head of any private body as the Information Officer...

Weekly Digest: COVID-19 Resources from Bradley
Bradley Arant Boult Cummings LLP, February 2021

Coronavirus Insights & Updates The information listed below is categorized by topic for your convenience and includes content from the previous week. Bradley is actively monitoring and engaging with relevant federal, state or local entities on issues related to the coronavirus. Please contact one of the authors if you have any questions. Click on a link below to view the full article, alert, blog, webinar recording or interview...

Re-Imagining Corporate Real Estate
Shoosmiths LLP, February 2021

This article forms part of our ‘New How: Perspectives’ report: ‘Can real estate help solve the productivity puzzle?. To access this free report, please click the link below.     We all know a happy engaged employee is a productive and successful employee. Unfortunately, the UK has one of the least engaged employee populations in Europe...

Coronavirus: Business Interruption Insurance and COVID-19
PLMJ, February 2021

The judgment of the United Kingdom Supreme Court On 1 May 2020, the Financial Conduct Authority (“FCA”), the body that oversees the insurance industry in the United Kingdom, announced that it wanted to obtain a ruling from the English courts on the meaning and effect of the sample of business interruption clauses that it selected from eight insurers in particular...

Supreme Court Guidelines on the Conduct of Videoconferencing
SyCip Salazar Hernandez & Gatmaitan, February 2021

The Supreme Court has issued Supreme Court Administrative Matter No. 20-12-01-SC (Re: Proposed Guidelines on the Conduct of Videoconferencing) dated December 9, 20201 (Court Videoconferencing Guidelines) to ensure that hearings via videoconferencing are conducted in an orderly manner and that the constitutional rights of the accused are protected...

The Second Month after Brexit: Insights for Business
Ellex Valiunas, February 2021

February marks the start of the second month after Brexit materializing. The Member States have finally understood that the United Kingdom (UK) is no longer in the Europen Union (EU) so that the  fairy-tale of the Single Market that has lasted for decades is now over. Although many businesses resolved various legal or regulatory issues before 1st January, new challenges inevitably keep arising now, when Brexit is a reality...

Redefining Public Private Partnerships: National Summit
Shoosmiths LLP, February 2021

Over the next decade, challenges around public funding and a shift in live/work priorities will create an increasing need for public-private collaboration as we seek to rebuild and regenerate our towns and cities in a post-Covid and post-Brexit climate...

Indonesia’s Newly Established Sovereign Wealth Fund: A New Chapter in Indonesia’s Economy
Makarim & Taira S., February 2021

As a developing country, Indonesia is still considered to have limited Government fiscal capacity and limited state-owned enterprise (Badan Usaha Milik Negara – “BUMN”) and financial sector funding capacity indicating that domestic capacity is not sufficient to meet what is needed to finance development and support economic growth and opportunities...

New Regulation on Electronic System Organizers in the Private Sector
Makarim & Taira S., February 2021

The Minister of Communication and Informatics (“MOCI”) has finally issued MOCI Regulation No. 5 of 2020 on Electronic System Organizers (“ESO”) in the Private Sector (“MOCI Regulation 5/2020”) that serves as the new implementing regulation of Government Regulation No...

Indonesia’s Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents
Makarim & Taira S., February 2021

On 4 January 2021, the President of Republic of Indonesia issued Regulation No. 2 of 2021 on the Ratification of the Convention Abolishing the Requirement to Legalize Foreign Public Documents (“PR 2/2021”) (the convention is hereinafter referred to as the “Apostille Convention”). The Apostille Convention was concluded on 5 October 1961 and is intended to simplify a series of formalities for documents signed overseas for the contracting states...

An Overview of Modern Cross Jurisdictional Investigation
Shoosmiths LLP, February 2021

The with backdrop of a global pandemic, John Hartley looks at the modern structure of global corporate investigations. It is a small world and getting smaller. The speed at which COVID-19 spread across the world when most easily transmitted by being within two meters of each other is a clear indication of just how small the world is getting...

Could This Little-Used FDA Submission Process Help Secure Approval for Your Medical Device?
Dykema, February 2021

The de novo medical device process is a little-used but potentially valuable means of securing approval for your medical device. The pathway was established in 1997 subject to the Federal Food Drug & Cosmetic Act, Section 513 (f) (2). It was designed to employ a risk-based strategy for novel devices that have not yet been classified. Basically, it establishes a new device type including classification, regulation, appropriate controls and product code...

UK Supreme Court Rules on Insurance Policy Wording for Business Interruption Losses due to COVID-19
Deacons, February 2021

A recent UK Supreme Court Judgment, the Financial Conduct Authority v Arch Insurance (UK Ltd) & Ors [2021] UKSC 1, clarified whether a variety of insurance policy wordings cover business interruption losses resulting from the COVID-19 pandemic and public health measures taken by UK authorities in response to the pandemic from March 2020...

INPI Rules Defined for the Protection of Inventions Implemented by Computer Programs
Veirano Advogados, February 2021

In December 2020, the National Institute of Industrial Property (INPI) published on its portal the Examination Guidelines for Inventions Implemented by Computer Program...

Landmark Changes to German Restructuring Law: New Law on Preventive Restructuring Framework (StaRUG) Allows Preinsolvency Balance Sheet Restructuring
Heuking Kühn Lüer Wojtek, February 2021

As of 1 January 2021, a new German law (known by its abbreviation StaRUG) affords debtors with COMI in Germany with a statutory regime for a non-consensual pre-insolvency balance sheet restructuring...

German Cyber Security Act 2.0: Federal Cabinet Presents New Draft
Heuking Kühn Lüer Wojtek, February 2021

On January 25, 2021, the German federal Cabinet introduced the draft for the new Cyber Security Act (“IT Security Act 2.0”) into the legislative process ( Draft of a Second Act to Increase the Security of Information Technology Systems, printed matter 19/26106 [draft of a second law to increase the security of information technology systems, document 19/26106] ). The new German Cyber Security Act is intended to replace the old German Cyber Security Act of July 2015...

 

 

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