Compliance

Recent Articles

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  19.09.2023

  International

  Trading of crypto-as­sets in detail

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for service providers known as crypto-asset service providers (CASPs), which carry out activities with crypto-assets that fall within the regulation's scope. The following article describes the MiCAR requirements applicable to persons providing services related to crypto-asset trading.DefinitionMiCAR introduces enhanced legal requirements that will apply to service providers carrying out professional activities related to trading crypto-assets. The crypto-assets trading activities that MiCAR identifies as...

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  14.09.2023

  United Kingdom

  UK Government announces consultation on consumer protection reforms

  On 4 September 2023, the Department for Business and Trade launched a consultation (“Consultation”) to assess how to improve price transparency and product information for consumers. Prompted by its ongoing review of retained EU laws post-Brexit and the continued focus on the evolving ways in which businesses are offering goods and services to consumers, the Consultation is designed to assess whether the current rules are still fit for purpose.The Consultation follows the publication of the highly anticipated Digital Markets, Competition and Consumers Bill (“DMCC”) earlier...

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  11.09.2023

  EU

  Summer Snapshot: Tech and Data Highlights You Might Have Missed

  Have you taken a break from your usual spot in front of the computer screen over the past few weeks? No worries, this article provides a succinct overview of the significant advancements in the world of technology and data that have transpired over the summer. You’ll soon discover that the summer has been exceptionally eventful in this regard.EU Commission adopted adequacy decision for EU-US Data Privacy FrameworkOn 10 July 2023, the EU Commission announced the adoption of its adequacy decision pertaining to the EU-US Data Privacy Framework (“EU-US DPF”). This decision allows...

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  30.08.2023

  International

  CBAM Implementing Regulation and Extensive Additional Reporting Guidance Published

  Earlier this month, the European Commission (“EC”) adopted an Implementing Regulation (“IR”) and released extensive Guidance Documents (“Guidance”) on the practicalities of reporting requirements for the transitional phase of the EU’s Carbon Border Adjustment Mechanism (“CBAM”) framework. This first material phase of CBAM will commence on October 1, 2023 (“Transitional Period”). The Guidance complements the IR in providing vital instructions for both installation operators (exporters) outside the EU and importers of CBAM goods within...

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  11.08.2023

  China

  Stricter Liability Risks for Corruption in China due to Amendments of PRC Criminal Law - New Personal Criminal Liability Risks for Executives in For­eign-In­ves­ted Enterprises in China due to Closure of Regulatory Gap between State-Owned and Privately Held Enterprises

  The Chinese regulator, the Fourth Session of the Standing Committee of the 14th National People’s Congress of the People’s Republic of China (“PRC”), has most recently examined the Draft Amendments XII to the PRC Criminal Law (“Draft Amendment XII”), which has been published on 26 July 2023 for public comments for 30 days.The Draft Amendment XII aims at further strengthening China’s anti-corruption regime following the ongoing anti-corruption campaign in the country. The proposed amendments provide stricter liability risks in certain scenarios...

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  28.07.2023

  United Kingdom

  Beauty box sub­scrip­tions: the makeover mandated by the new DMCC Bill

  Everyone loves a well-thought-out surprise. And many consumers feel overwhelmed by the sheer number of products available in the cosmetics industry. In steps the beauty box: a personalised, monthly assortment of skincare, makeup, haircare and beauty products, often in sample sizes, delivered right to a consumer’s door.But, at least for some, the appeal of these subscription boxes can start to fade, particularly where the initial enticement of a discounted or free box subsides. Some companies make unsubscribing simple. For others, consumers face a laborious, pain-staking process. New provisions...

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