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In Antitrust / Competition

Australia: Significantly increased CCA/ACL penalties and prohibitions on Unfair Contract Terms are on the horizon

by , , , , , , and 2 Mins Read

On 28 September 2022, the Government introduced the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022. If passed, the Bill will: introduce a civil penalty regime prohibiting the use of and reliance on unfair contract terms in standard form contracts; increase the maximum penalties that may be awarded for breaches of the civil penalty provisions in Parts IV, IVBA, X and XICA of the Competition and Consumer Act 2010 (and under the Australian Consumer Law to the greater of AUD 50 million, if the court can determine the value of the benefit obtained — three times the value of that benefit, if the court cannot determine the value of the benefit obtained — 30% of the body corporate’s adjusted turnover during the breach turnover period for the offence, act or omission, and increase the maximum civil penalty for breaches by telecommunications providers of the Competition Rule, to up to AUD 71 million plus AUD 3 million for every day that a contravention continues in the most serious cases.

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In Trade and Foreign Investment

Switzerland: Following the global trend – To introduce foreign investment review – More than just mimicking?

by , , and 10 Mins Read

After pressure from Parliament, the Swiss Federal Council has against its own intentions opened the consultation process on new legislation to screen foreign investments in future also in Switzerland and has published a draft investment control law (“Draft ICL”). By implementing foreign investment control mechanisms, Switzerland would follow the global trend towards stricter regulation of foreign investments. According to the Draft ICL, the new law would apply to acquisitions of domestic companies by foreign investors. The main objective is the aversion of possible threats to public order and national security resulting from acquisitions of domestic companies by foreign investors. The final aim is to create investment controls in a new and stand-alone federal law.

In Environment

Thailand: What you need to know to operate an EV business

by , , , and 4 Mins Read

Following years of market domination by the conventional automobile industry, EV technology is now emerging as an environment-friendlier alternative, opening up various new opportunities for businesses as well as consumers all around the world. EV development permeates the whole chain of the present automotive industry, from the manufacturing and distribution sectors to subscription and ride-sharing or ride-hailing businesses. To operate an EV business in Thailand, there are certain legal concerns you need to take into account.

In Product Regulation & Liability

Thailand: Manufacturing quality standards for medical devices soon to be tightened

by , , , , and 2 Mins Read

Under the current regulation, a Good Manufacturing Practice (GMP) certificate obtained from the Food and Drug Administration (FDA) is a voluntary requirement for local medical device manufacturers. However, manufacturers of licensed medical devices and detailed notification medical devices must provide GMP certificates from the FDA or an ISO 13485 certificate issued by one of the official Certified Bodies as part of the documents for the registration of medical devices. These certificates are not required to manufacture and notify low-risk medical devices unless they are exported and certain certificates are required by the destination countries.

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In Corporate Compliance

European Union: Long-awaited Social Media Guidance issued by EFPIA and IFPMA

by and 5 Mins Read

EFPIA, the European Federation of Pharmaceutical Industries and Associations and IFPMA, the International Federation of Pharmaceutical Manufacturers and Associations, published at the end of September 2022 a long-awaited Note for Guidance to assist their member companies with their use of social media and digital channels. The Guidance aims to set out the areas that companies should consider when communicating on social media and other digital channels, and builds on existing guidance, including the Principles for the use of digital channels in the EFPIA Code.

In Asia-Pacific

Thailand: Proving your facts – business operators to keep an eye out for new guideline on advertising claims

by , , , and 3 Mins Read

Advertising is a great way for business operators to connect with consumers, and advertisers today are able to reach more customers than ever before through the use of various media and channels (e.g., electronic, social media, brochures, newspaper advertising and TV advertising). In response to this, the Office of the Consumer Protection Board has deemed it necessary to step up its efforts to protect consumers. This article discusses the potential regulatory development that business operators should be aware of concerning the use of advertising that presents unsubstantiated claims or statements that are difficult to prove true.

In Environment / Climate

Australia: ACCC to target ‘greenwashing’ online

by , , and 2 Mins Read

The ACCC has announced two internet sweeps to identify misleading environmental and sustainability marketing claims and fake or misleading online business reviews and a separate sweep to target fake or misleading online reviews and testimonials. The sweeps are being conducted as part of the ACCC’s compliance and enforcement priorities for 2022-23 announced earlier this year, with the broad aim of identifying deceptive advertising and marketing practices related to the environment and sustainability.

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In AML & Financial Services Regulatory

United Kingdom: UK government targets money laundering with a new economic crime bill

by and 4 Mins Read

In September 2022, the government sought to reinforce its commitment to curbing money laundering in the UK by introducing the Economic Crime and Corporate Transparency Bill. The draft bill represents a substantial overhaul to Companies House, which, if implemented, will affect how all companies, partnerships and limited partnerships are established. It is the second piece of legislation targeting economic crime following the Economic Crime (Transparency and Enforcement) Act 2022, which was introduced in March 2022.

In Whistleblowing

Asia Pacific Whistleblowing Landscape:Benchmarking and Best Practices

by , , , and 8 Mins Read

Addressing whistleblower complaints has quickly become front and center for companies in Asia Pacific. Research shows that it is increasingly apparent that whistleblowing programs need to adapt and evolve with the legal and regulatory landscape, and it is vital that management implements a regular review of those programs. Explore Baker McKenzie’s custom research, conducted in collaboration with Acuris Studios, based on responses from 523 senior executives from companies in Asia Pacific.

In Trade and Foreign Investment

Global: Pharmaceutical trademark trends

by and 1 Min Read

The pandemic acted as a catalyst for acceleration of the metaverse, as increased remote working, studying and the need for remote healthcare provision have increased consumer acceptance of online interactions and created demand for those interactions to be more “life-like.” At the same time, rapidly developing technology and infrastructure is creating the opportunity to perform more activities virtually. The exploration of this new realm may not necessarily be smooth sailing. New challenges may arise in relation to data protection and cybersecurity. Familiar considerations like compliance with regulatory regimes or IP protection may give rise to complexities that are otherwise not apparent at first glance. Parallel trade also continues to generate disputes between IP owners and parallel importers, and our report highlights some recent developments. Baker McKenzie’s trends report provides a summary of some of the key issues to consider from a trademark perspective.

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