The Australian Prudential Regulation Authority (APRA) has set out its initial risk management expectations for regulated entities that engage in activities associated with crypto-assets, and a policy roadmap for the period ahead in a letter to industry. We explore the APRA proposals in more detail below.
At the UN Climate Change Conference in Glasgow known as COP26, countries agreed to advance the implementation of the Paris Agreement and accelerate its action plans to cut global greenhouse gas emissions. Along the line of this endeavor, the Prime Minister of Thailand, Prayut Chan-o-cha, announced Thailand’s enhanced ambition towards a low carbon society, aiming to reach carbon neutrality in 2050, and Net Zero GHG Emissions in or before 2065.
The Supreme People’s Court has identified certain relevant factors when assessing such agreements from an antitrust perspective. The Chinese entity of a multinational medical device manufacturer was fined RMB 9.12 million for RPM, representing 3% of its 2020 total China-wide revenue. The antitrust authority will be stepping up oversight over the platform economy, technology development, data security and livelihood sectors such as utilities, healthcare and medicine.
The first draft, released on 2 March 2022, is the authority’s first comprehensive overview of competition issues specific to the digital economy and its enforcement position and policy direction. This update was published as part of our quarterly newsletter, Asia Pacific Competition Highlights.
The Indonesian Competition Commission (Indonesian acronym “KPPU”) has issued a regulation revoking the policy that extended the deadline for merger filings to 60 working days since closing, from 30 working days. The original deadline will be applicable effective 1 May 2022. Since November 2020, the authority has been implementing relaxation policies for competition matters due to the COVID-19 pandemic, including the extended deadline for merger filings.
In February 2022, the Indonesian Competition Commission issued the first decision of this type on the cooperation between PT Pos (Persero), the state-owned postal and package delivery company, and Agenpos, its small business partner, under a separate law governing such activities.
On 22 March 2022, the Ministry of Science and Technology of the People’s Republic of China issued Draft Implementation Rules of the Administrative Regulations on Human Genetic Resources for public comments until 21 April 2022. The Draft Rules provide clarifications and operational details on the Administrative Regulations on Human Genetic Resources promulgated in 2019.
The Guide to Doing Business in China provides an introduction to selected aspects relating to investment and business operations in the People’s Republic of China under current Chinese laws and policy during the COVID pandemic, including a summary of important areas of concern to all investors in China: mergers and acquisitions, data privacy issues, antitrust and competition issues, taxation, employment, intellectual property protection, trade and import and export rules, financial services, as well as anti-bribery compliance and dispute resolution issues.
Baker McKenzie’s Sanctions Blog published the alert titled Taiwan issues list of Russia-related export controls on 8 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia on 13 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.