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In AML & Financial Services Regulatory

Malaysia: Public Consultation Paper (Part 2) on the Proposed Enactment of the Consumer Credit Act

by 7 Mins Read

On 4 August 2022, the Consumer Credit Oversight Board Task Force issued the first of a two-part consultation paper to the Consumer Credit Act (CCA) to obtain feedback from interested parties and members of the public on the proposed enactment of the CCA.
The Task Force has now issued the second public consultation paper. The public consultation period on the second paper will close on 15 May 2023.
The feedback from the consultation paper will be considered ahead of the anticipated CCA being passed into law by the end of 2023.

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In Trade and Foreign Investment

China Customs’ new practice further challenges the implementation of post-importation TP adjustments

by 5 Mins Read

Post-importation transfer pricing adjustments have always presented great challenge for multinational companies doing business in China due to the lack of formal nationwide mechanism which simultaneously addresses the tax, customs and foreign exchange administration requirements, in order to allow customs valuation adjustment to be made in response to a post-importation TP adjustment. A new practice adopted by China Customs piles on additional challenges for companies looking to implement TP adjustments.

In Product Regulation & Liability

Vietnam: Government approves anti-counterfeiting and consumer protection in e-commerce by 2025 Plan

by 2 Mins Read

On 29 March 2023, Deputy Prime Minister Tran Luu Quang signed Decision No. 319/QD-TTg, which approved the Anti-Counterfeiting and Consumer Protection in e-commerce by 2025 Plan. The Plan is set to increase anti-counterfeiting and consumer protection initiatives, build consumer confidence in online purchasing, and encourage transparent and healthy e-commerce activities in general.

In ESG

Malaysia: Update to the Anti-Sexual Harassment Act 2022

by , , and 3 Mins Read

The Anti-Sexual Harassment Act 2022 passed by the Dewan Negara on 11 August 2022. On 28 March 2023, several provisions of the Act came into effect, and it is anticipated that the rest of the Act will come into effect in stages. This is a positive development to be lauded, considering that it is the first to many steps in having an anti-sexual harassment legislation in Malaysia, to increase the prevention and awareness of sexual harassment (in addition to the sexual harassment provisions in the Employment Act).

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In Product Regulation & Liability

Thailand: Effective now – Guideline on advertising claims

by , , and 1 Min Read

The Office of the Consumer Protection Board has published the Notification of the Advertising Committee on Guidelines for Using Advertising Statements in Manners That Affirm Facts That Are Difficult to Prove and Guidelines for Proving the Facts Concerning Advertising Statements, B.E. 2565 (2022) in the Government Gazette on 13 January 2023, effective on 14 January 2023.

In Trade and Foreign Investment

Thailand: BOI – New announcements on promoted activities & privileges

by , , , and 3 Mins Read

The Thailand Board of Investment (BOI) has issued new announcements to respond to new businesses and future investment trends and to attract investors to invest in Thailand. The BOI aims to boost innovation, competitiveness, and inclusivity as well as sustainable development of Thailand’s economy in accordance with the current National Economic and Social Development Plan and the country’s development policies.

In Antitrust / Competition

Indonesia: Overhaul of merger control rules announced

by , and 6 Mins Read

On Monday 27 March 2023, the Indonesian Competition Commission (Komisi Pengawas Persaingan Usaha, (KPPU)) sought input from stakeholders on its plan to overhaul the current merger control rules. KPPU is proposing to replace KPPU Regulation No. 3 of 2019 on Merger Filing Procedures. Key changes include the introduction of an electronic portal, narrowing the definition of assets for the calculation of asset thresholds to Indonesian assets only, and introducing three exits for transactions without competition concerns.

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In Trade and Foreign Investment

European Union & Indonesia: EU increases actions against Indonesian imports

by , , and 3 Mins Read

The European Union actively uses anti-dumping and anti-subsidy (or countervailing duty) investigations to protect the EU industry. Imports from Indonesia are a prime target for these investigations. Since 2003, imports from Indonesia were targeted in 15 anti-dumping and anti-subsidy investigations, and four of these investigations were initiated in the last three years.

In Environment

Australia: Safeguard Mechanism Amendments – getting “The Greens” light

by 4 Mins Read

Under current Australian arrangements, the “Safeguard Mechanism” requires Australian facilities that produce over 100,000 tonnes of carbon annually (or an equivalent amount of greenhouse gases), known as “Safeguard Facilities”, to keep their net emissions below a baseline (or ceiling), which has been determined on a facility specific basis. To meet its international commitments to achieving net zero emissions by 2050, the Australian government has proposed changes to the operation of the Safeguard Mechanism with the effect of reducing carbon emissions over time. Those proposed changes have now been extended to secure the political support required to enable the passage of these legislative reforms through federal parliament.

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