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In Asia-Pacific

Philippines: Amendment allowing full foreign ownership of telcos signed by President Rodrigo Duterte

by , and 3 Mins Read

President Rodrigo Duterte signed into law Republic Act No. 11659 or “An Act Amending Commonwealth Act No. 146,” otherwise known as the Public Service Act, as amended on 21 March 2022. The amendment aims to liberalize previously restricted service industries to encourage private enterprise and foreign investment. While the law provides an exclusive list of sectors that are to be classified as ‘public utilities’ that remain subject to foreign ownership restrictions, the amendment also removes the 40% foreign ownership investment cap on certain public service sectors, including telecommunications.

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In Europe

United Kingdom: Legislative changes for clinical trials on the horizon

by 2 Mins Read

The Medicines & Healthcare products Regulatory Agency launched a consultation in early 2022 as part of its post-Brexit efforts to develop a world-class and flexible regulatory environment for clinical trials. The consultation closed in March 2022, but continues to offer insights into what the future holds for the UK regime for clinical trials.

In Antitrust / Competition

Mexico: COFECE investigates barriers to entry in the retail e-commerce market

by , , and 4 Mins Read

On 31 March 2022, the Investigating Authority of the Federal Economic Competition Commission published notice of the initiation of an investigation, into the retail electronic commerce market in Mexico. The investigation is to identify, and where appropriate, determine the possible existence of barriers to free market access, barriers to the competition, and/or essential inputs, that could create anti-competitive effects in the Market Under Investigation.

In Asia-Pacific

Australia: Public Franchise Register adds to franchise compliance burden

by and 4 Mins Read

Changes to the Franchising Code commencing 1 April 2022 will introduce an online public Register of franchises in Australia from later this year. Anticipated for some time, the Register and will add to the annual compliance requirements for most franchisors. However, the information required to be filed is significantly reduced from that suggested in the Government’s 2021 Exposure Draft legislation.

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In Cybersecurity, Data and Tech

Global: Tax and Legal Implications of New Supply Chain Challenges

by , , , , , , , and 2 Mins Read

Stay tuned to Baker McKenzie’s Supply Chains Disrupted video series for discussions and practical insights about current and emerging supply chain issues, with a focus on the tax, legal, trade and regulatory implications supply chain management teams should consider.

In Corporate Compliance

Global: TMT Looking Ahead 2022

by , , , , , , , , , , , , , , , , , and 3 Mins Read

Baker McKenzie’s TMT Looking Ahead 2022 five-part series explores key themes, offers timely insights, and lays out recommendations for technology, media and telecommunication companies looking to navigate the latest industry developments. Topics covered include tech regulation and compliance, tech M&A, interactive entertainment, 5G and TMT as the driver of change.

In AML & Financial Services Regulatory

United Kingdom: FInsight: The Global Financial Institutions Industry Podcast

by , and 15 Mins Read

Episode 26: UK Fintech Week 2022: State of the Fintech Nation
In this episode of FInsight, London partners Sue McLean, Mark Simpson, and David Hart talk about UK Fintech Week 2022. They cover the biggest trends and developments around fintech in the UK, with special focus on the expected topics throughout the event. The episode takes a closer look at the investment landscape (including the UK’s position as a fintech hub, active investors and top sub-sectors) and the current and expected regulatory developments that fintech players need to watch out for.

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In Asia-Pacific

Canada Introduces Additional Designations on Individuals and Entities in Myanmar

by , and 1 Min Read

On March 24, Canada amended its sanctions measures imposed on Myanmar by designating an additional 4 individuals and 2 entities. The Canadian Government indicated that these new sanctions are intended to target arms flows, individuals and entities who procure and supply arms and military equipment to Myanmar. These new measures were developed in coordination with the United Kingdom and United States.

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