Regulatory Archives

In Antitrust / Competition

Australia: The Ultimate Dilemma – put at risk immunity for cartel conduct, or waive privilege?

June 11, 2021 by Helen Joyce, Lynsey Edgar, Georgie Farrant and Georgina Foster 3 Mins Read

In Commonwealth Director of Public Prosecutions v Citigroup Global Markets Australia Pty Ltd [2021] FCA 511, the Federal Court has handed down an important decision which highlights the dilemma that may be faced by an immunity applicant in complying with its duty to provide full, frank and truthful disclosure and to co-operate under the ACCC’s Immunity and Cooperation Policy for Cartel Conduct (ACCC Policy) and maintaining legal professional privilege over witness accounts provided to solicitors at an early stage in an investigation.

In Europe

Italy: AIFA – Update of national requirements to be reported in the “Blue Box” of centralized medicinal products

June 11, 2021 by Roberto Cursano and Riccardo Ovidi 2 Mins Read

On 6 April 2021, the Italian Medicines Agency (Agenzia Italiana del Farmarco or AIFA) published a document updating the requirements to be reported in the outer labelling of centralized medicinal products placed on the Italian market (so-called “Blue Box”). In this respect, it should be noted that the Blue Box is that area, marked by a blue border, included in the label of a medicinal product intended to contain specific information relevant for each Member State in whose territory the product is marketed.

In Covid-19

Italy: Online sale of counterfeit medicines

June 11, 2021 by Roberto Cursano and Riccardo Ovidi 2 Mins Read

In its press release No. 642 of 12 April 2021, the Italian Medicines Agency (AIFA) indicated a substantial increase of reports concerning medicinal products purchased online from unauthorized channels that were found to be falsified or illegal. The most recent cases include purchases of products with anti-cellulite activities and medicines used in the treatment of erectile dysfunctions.

In Antitrust / Competition

Europe: European Commission Proposes New Regulation on Foreign Subsidies

June 10, 2021 by Paul Johnson, Gavin Bushell and Nina Niejahr 2 Mins Read

On 5 May 2021, the European Commission (“Commission”) published a proposed Regulation, along with an impact assessment report, aiming to address potential distortions caused by foreign subsidies in the Single Market (“Proposed Regulation”). This Proposed Regulation will create substantial new obligations for companies if adopted in its current form.

In Cybersecurity, Data and Tech

Hong Kong: Employees’ Compensation (Amendment) Ordinance 2021 gazetted

June 10, 2021 by Sunwinder Mann and Andrew Rose 1 Min Read

On 10 May, the Council of the European Union adopted a revised version of the EU’s Dual-Use Regulation. Key changes include two new general export authorisations, stricter controls on cyber-surveillance and technical assistance, changes to the licensing framework, and provisions allowing for increased co-ordination between Member States.

In North America

United States: The City of Chicago issues nexus guidance and safe harbor in light of Wayfair and Illinois State level “economic nexus” standards

June 10, 2021 by Theodore Bots and David Hemmings 3 Mins Read

The City of Chicago recently issued nexus guidance and a limited safe harbor for City tax purposes in light of the US Supreme Court’s pivotal South Dakota v. Wayfair ruling and the State of Illinois’ statutory economic nexus standards. True to form, the City implemented its new nexus standards by executive action via publication of a “nexus and safe harbor” “information bulletin” on its website, as opposed to the Chicago City Council more formally adopting a new ordinance.

In Europe

Italy: Administrative Court of the Lazio Region – Difference between cooperation agreements and subcontracting in the supply of medical devices

June 10, 2021 by Roberto Cursano and Riccardo Ovidi 2 Mins Read

With judgment No. 4816 of 26 April 2021, the Administrative Court ruled on an appeal for the annulment of the final award of a Framework Agreement for the supply to public hospitals of digital mammography devices, related services, equipment and optional services. The appellant claimed that the successful bidder should have been excluded for the tender procedure for having unlawfully used a continuous cooperation agreement, pursuant to art. 105, paragraph 3, letter c-bis), of the Code of public contracts.

In Asia-Pacific

Hong Kong: Application process and criteria for subsidy of costs to set up or re-domicile Open-ended Fund Companies announced

June 10, 2021 by Sophia Man, Weng Koeng Kok, Dreyfus Koo and Aaron Dauber 6 Mins Read

In a recent press release, the Securities and Futures Commission published details, FAQs, and application forms for the new grant scheme to subsidise the expenses incurred by Open-ended Fund Companies successfully incorporated in, or re-domiciled to, Hong Kong.

In ESG

Global: What does the EU taxonomy mean for the hydrogen industry?

June 10, 2021 by William-James Kettlewell 4 Mins Read

On 21 April 2021, the European Commission published the final Delegated Act (DA) under the EU taxonomy as part of the wider EU sustainable finance package. The key goal of the package is to provide tools for investors to identify sustainable investment opportunities and to direct finance towards the European Green Deal.

In Asia-Pacific

Asia Pacific: State of Play – Supply Chains & Trade Realignment

June 10, 2021 by Reagan Demas 1 Min Read

Over a year into the global pandemic, businesses have had to pivot to survive and adjust to new ways of conducting business. Now, more than ever, Asia Pacific business leaders are making the necessary strategic changes to meet the needs of a vastly changed business landscape — and deciding where legal expertise may be needed most to limit and manage disruption and soften risks. This report will delve into how businesses view rising protectionism, regulatory scrutiny and foreign investment restrictions, and how these views are directly impacting their supply chain strategies.