Asia-Pacific

We are pleased to announce that the updated second edition of the Baker & McKenzie dictionary : Compliance and Governance from A-Z is now published.

On October 1, 2017, an order from the Japanese Cabinet went into effect to implement amendments to Japan’s Foreign Exchange and Foreign Trade Act which implements Japanese import and export controls.

After a period of noticeable inactivity, revised drafts of the trademark, design, patent, and copyright bills were submitted to parliament and consequently published for public review in late July and mid-August.

The Parliamentary Joint Committee on Corporations and Financial Services has released its report on recommended changes to whistleblower protections in the corporate, public and not-for-profit sectors. If implemented, these recommendations would significantly increase the protections and rewards available for whistleblowers.

Following its issuance of the Interim Rules on Preliminary Inquiry and Full Administrative Investigation in August 2017, the Philippine Competition Commission (Commission) has issued its more comprehensive Rules of Procedure.

In the last week, there have been three reported matters which demonstrate the material consequences that Australian companies and individuals may face as a result of involvement in corrupt conduct.

On 15 September 2017, the 5th draft of the new Competition Law (the 5th Draft) was published on the National Assembly Office Portal for public review and comments. The 5th Draft is being reviewed by the Standing Committee of the National Assembly and is expected to be passed in May 2018.

The Hong Kong Court of Appeal recently upheld that dealing in securities while withholding or not disclosing price sensitive information does not constitute insider dealing provided that the dealing was not in any part caused by the price sensitive information.

Australia is considering whether to adopt modern slavery legislation, similar to that found in the United Kingdom (UK) and California.

The UK Serious Fraud Office obtained a declaration that certain documents prepared during investigations by solicitors and forensic accountants into the activities of a UK-incorporated multinational corporation were not subject to legal professional privilege.