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  25.04.2023

  Asia-Pacific

  APAC TMC Up­da­te – Sp­ri­ng 2023

  ASEANCentral banks sign Memorandum of Understanding on Cooperation in Regional Payment ConnectivityOn 14 November 2022, the central banks of Indonesia, Malaysia, Philippines, Singapore, and Thailand signed a Memorandum of Understanding on Cooperation in Regional Payment Connectivity (RPC) agreeing to enhance cooperation on regional payment connectivity. Collaboration between the countries on accelerating regional payment connectivity is in line with the ASEAN’s aspiration to enable fast, seamless and more affordable cross-border payments across the region.ChinaChina publishes the Implementation...

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  17.04.2023

  Middle East

  The le­gal fra­me­wo­rk for su­s­tai­na­b­le fa­mi­ly bu­si­ne­s­ses in the Ki­n­g­dom

  BackgroundThe new Saudi Companies Law issued through Cabinet Decision No 678/1443 is a landmark legislation that has sown the seeds for a sustainable family business ecosystem. The provisions regarding family businesses introduced by the Companies Law are in pursuance of the economic objectives underpinned in the country’s landmark Vision 2030.Family CharterMost importantly, the Companies Law has introduced an institutional legal cover to family businesses. The founders, partners and shareholders of family-owned enterprises can now conclude a “family charter” (or a family constitution)...

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  14.04.2023

  Pro­po­sed ame­n­d­me­n­ts to the No­r­we­gian Se­cu­ri­ty Act wi­ll lo­wer the th­re­sho­l­ds and the sco­pe for ma­n­da­to­ry no­ti­fi­ca­tio­ns of ac­qui­si­tio­ns

  On 31 March 2023, the Norwegian government proposed amendments to the Security Act. The proposal will notably tighten the rules on ownership control by expanding the scope of companies that are subject to a notification obligation. Of equal relevance is that the threshold for notification will be reduced, and both the acquirer and the target enterprise may be subject to a notification requirement.The amendments are intended to strengthen the ability of the Norwegian government to control economic activities which may pose a risk to national security. The proposal notes that, over time, nefarious...

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  13.04.2023

  Asia-Pacific

  Top de­ve­lo­p­me­n­ts and pre­di­c­tio­ns in the Te­ch­no­lo­gy, Me­dia and Co­m­mu­ni­ca­tio­ns se­c­tor in Asia-Pa­ci­fic

  We look back at the top ten developments over the last 12 months in the technology, media and communications sector and we look to the future with our top predictions for the coming year for businesses operating across the Asia-Pacific region, specifically in mainland China, Hong Kong and Singapore.Over the last year, we have seen the continuous and rapid development of the cybersecurity and data protection regime, including the enactment of data protection laws in Vietnam and Indonesia. Countries with data protection laws have continuously updated the regimes, trending towards a general increase...

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  31.03.2023

  United Kingdom

  Pa­rt 2 of our 7-pa­rt se­ries on the dra­ft Me­dia Bi­ll - a re­vi­sed pro­mi­ne­n­ce re­gi­me

  In this article we explore Part 2 of the draft Media Bill (“Prominence on Television Selection Services”).The current regulatory frameworkThe current so-called “prominence” framework (as set out in the Communications Act and Ofcom’s code of practice on EPGs) guarantees specified PSB linear channels prime positioning in EPGs. In particular, the current framework guarantees that the first five channels the public find when they switch on (or, at least, navigate to the linear section of the TV guide on) their TVs are operated by PSBs.This framework does not, however,...

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  28.03.2023

  Europe

  Eu­ro­pean Pa­r­lia­me­nt and Coun­cil ready to sta­rt ne­go­tia­tio­ns on EU Da­ta Act – Eu­ro­pe ge­ts clo­ser to ado­p­ti­ng a da­ta law

  In February 2022 the European Commission presented its proposal for the EU Data Act, which – if adopted - will introduce a far-reaching legal regime on access to and use of non-personal data in the EU and will, similar to the GDPR, be applicable to businesses established outside the EU. The proposed regulation contains a set of rules defining how various forms of data can be used and by whom for purposes across all economic sectors with the aim of creating a new data-agile ecosystem. While the new law will bring new opportunities, it will also create legal challenges for all actors in the...

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