By Patrick Gunning, Ian Hargreaves, Rob Bolgar-Smith and Urszula McCormack.
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a
ta security breaches have been on the rise for many years now, with governments and regulators responding in many ways. One element of the response is to require organisations who experience a data security breach to notify relevant regulators and,
By King & Wood Mallesons
On Thursday June 23rd, a majority of the British electorate voted in favour of leaving the European Union, setting the country on an entirely new course for the next generation.
It is important to remember, of course, that overnight, nothing has changed: EU law continues to apply, as do UK
By Urszula McCormack and Matthew Howlett king & Wood Mallesons’ Hong Kong Office.
The Money Authority of Singapore’s recent announcement that it intends to withdraw BSI Bank Limited’s licence highlights the potentially severe consequences for banks breaching their AML obligations – and a trend beyond mere financial penalties. It also highlights the ever-increasing risks
By Simon Holmes and Naomi Inns, King & Wood Mallesons’ London Office
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n 23 June 2016, the UK will hold a referendum on its continued membership in the European Union (EU).The result will have significant implications for both UK businesses and businesses operating in the UK.
UK business leaders – alongside politicians – have been fiercely debating their ‘Stay’ or ‘Leave’ positions. In this article we explore one of the key arguments of the ‘Leave’ campaign (Brexit), namely that Brexit will be good for businesses because it will reduce red tape regulation.
Brexit may not reduce red tape to the benefit of businesses
In addition to the official Leave Campaign, there are a number of independent campaigns calling for Brexit, including Business for Britain which argues that:
“Free from unnecessary, restrictive and financially punitive regulation, able to make our own trade arrangements and to better invest our wasted EU “tax”, Britain will be the best place in the world to do business.”
Continue Reading Busting the brexit myths
By Mark Schaub and Chen Bing King & Wood Mallesons’ Corporate & Securities Group
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w PRC regulations have just been issued that will have a substantive impact on infant formula manufacturers – both international and domestic.
The Administration Measures for the Registration of Formulas of Infant Formula Milk Powder (“Registration Measures”)
By: Scott Bouvier, Chen Bing, Mark Schaub,Martyn Huckerby, Ramon Garcia-Gallardo and Yixin Gong King & Wood Mallesons
Why is reducing non-tariff measures a matter of global concern?
On a global scale, there has been a tendency towards freeing up trade and removing obstacles, as highlighted by the recent spate of international free trade treaties. Clear and measurable benefits of these treaties have been the reduction or elimination of tariffs.
However, as recognised by the United Nations Conference on Trade and Development (UNCTAD), non-tariff measures (NTMs) continue to present major challenges for exporters, importers and policymakers. Defined as “policy measures other than ordinary customs tariffs that can potentially have an economic effect on international trade in goods, changing quantities traded, or prices or both”, there is a wide spectrum of NTMs used in international trade today.
Continue Reading Breaking down non-tariff barriers in the international trade of agrifood
By Scott Heezen Malcolm Brennan Zhao Yan Cao Linlin King & Wood Mallesons
Recent years have seen a renewed focus by international revenue authorities on ensuring that appropriate tax is paid by multi-national enterprises operating in their jurisdictions. The revenue authorities have been fortunate in some respects, with governments in many jurisdictions facing depleted coffers and open to any suggestions as to how to boost tax revenues. Given this environment, revenue authorities have found governments more willing to amend laws and change arrangements that have, in many cases, been in place for long periods of time on the basis that such changes will provide a quick fix for cash-strapped countries.
While it is clear in many cases that, existing tax and regulatory frameworks need to be modified to more appropriately deal with globalization and the allocation of tax revenues among the various jurisdictions multinationals operate in, such an environment is not necessarily conducive to good law or administration. In many cases, the long term ramifications of changes in law and policy at the behest of the revenue authorities are not fully considered before being announced or enacted.
Continue Reading Border Control – Government Responses to Globalisation
By Jiang Junlu and Zhang Hongyuan King & Wood Mallesons’ Commercial & Regulatory Group
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ccording to Article 3 of the Provisions on the Duration of Medical Treatment for Enterprise Employees with Illnesses or Non-Work-Related Injuries (“Provisions”), employees of an enterprises who suffer illnesses or non-work-related injuries and need to cease working and receive medical
By Lucy Lu and Ding Wu King & Wood Mallesons’ Commercial & Regulatory Group
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he Ministry of Education, the Ministry of Finance, the Ministry of Human Resources and Social Security, the State Administration of Work Safety and the China Insurance Regulatory Commission jointly issued the Regulations for the Management of Interns from Vocational Schools
By Yin Juquan Song Miao King & Wood Mallesons’ Commercial & Regulatory Group
. Summary of the Case (hereinafter as the “Case”)Mr. Tan worked as a service representative at the Customer Relationship Operation Department of Kunshan Hua A Company (the “Company”). He returned to his dormitory after work at 1:00 AM on December
