On December 11, 2024, the US Department of Justice and the Federal Trade Commission announced the withdrawal of the 2000 Antitrust Guidelines for Collaborations Among Competitors. These guidelines outlined the agencies’ views on how competitor collaborations should be analyzed under the antitrust laws and provided “safety zones” for certain types of collaborations that the agencies stated would not be subject to challenge.
The FTC vote to withdraw the guidelines was 3-2, with the two Republican commissioners writing dissenting statements criticizing the FTC’s Democratic leadership for the timing of its decision—noting the upcoming change of administration and the lack of action for the preceding ~four years.
On 6 December 2024, the Hong Kong government gazetted the Stablecoins Bill, which aims to establish a regulatory regime for issuers of fiat-referenced stablecoins in Hong Kong. This follows public consultations by the Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority. The Bill aims to introduce a licensing and regulatory framework for FRS issuers and those involved in offering FRS.
Australia: AML/CTF Amendment Act overhauls AML/CTF legislative landscape
On 10 December 2024, the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (Cth) received royal assent. This legislation makes material amendments to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and brings about significant reform to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime.
These amendments have sought to close key legislative gaps and better align Australia’s AML/CTF regime with the international standards set by the Financial Action Task Force.
European Union: What do CG&R companies need to know about the European Accessibility Act?
The European Accessibility Act is a directive aimed at improving the accessibility of products and services for people with disabilities across the European Union. It establishes common accessibility requirements for a wide range of products and services provided to consumers to ensure that people with disabilities have better access to digital and physical environments, thereby promoting their inclusion and participation in society.