The Treasury Laws Amendment (More Competition, Better Prices) Act 2022 received royal assent on 9 November and is now in force. Maximum penalties for contraventions of the CCA and ACL have significantly increased, effective immediately, exposing business to very substantial risk. The need for robust policies, systems and training to ensure compliance with the legislation has never been more important.
On 24 October 2022, the National Authority for the Protection of Personal Data approved a Guide to the International Transfer of Personal Data. According to articles 11 and 15 of Law No. 29733, Personal Data Protection Act, international transfer of personal data can only be carried out when a sufficient level of protection of personal data is guaranteed in the recipient country.
At COP 27 in November 2022, South Africa launched its new Just Energy Transition Investment Plan and announced a five-year investment plan for the USD 8.5 billion financing package, which was announced as part of the country’s Just Energy Transition Partnership with France, Germany, the United Kingdom, the United States and the European Union at COP 26. The JET IP is aligned with the Cabinet-approved National Just Transition Framework and outlines the investments required to achieve the country’s decarbonization commitments, while promoting sustainable development, and ensuring a just transition for affected workers and communities.
With the enactment of the new Cinema Law 2022, the Ministry of Culture, Sports and Tourism (MOCST) is developing a draft decree guiding the Cinema Law. After a one-month public consultation period, the MOCST made substantial updates to the Draft Decree and submitted the latest version to the Ministry of Justice for appraisal. The content of the latest version reflects the majority of the comments and recommendations suggested by industry stakeholders, evidencing how effective and influential policy advocacy can be.
On 17 February 2022, the we launched our Central Asia in Focus webinar series, discussing trends, challenges and opportunities in the region. In our five-episode webinar series, we will be discussing a wide range topics with experts from Banking & Finance, corporate, regulatory and other practices.
Episode 1: Update on recent developments in Kazakhstan: Aviation
Episode 2: Data protection and Covid-19: Trends, insights and comparison with the GDPR
The Digital Markets Act (EU Regulation 2022/1925) came into force on 1 November 2022, with the aim of promoting fair business practices in the digital industry in Europe. While the DMA itself may have no direct implication for Indonesia, the KPPU – Indonesia’s competition authority – often refers to developments and thought-leadership on enforcement from other prominent jurisdictions, including the EU. Digital businesses operating in Indonesia may use the DMA as a navigation tool, and clients may find the practical risk mitigation tips useful.
In June 2022, Glencore, one of the world’s largest commodity traders, pleaded guilty to paying bribes to officials in three West African countries and for failing to prevent agents and employees from doing so in two other African countries. On 3 November 2022, Glencore was sentenced and ordered to pay a record amount of GBP 281 million (consisting of a GBP 182.9 million fine, a GBP 93.5 million confiscation order and GBP 4.5 million in respect of the Serious Fraud Office’s costs).
On 10 November 2022, following a 3-1 vote, the Federal Trade Commission issued a policy statement expanding its interpretation of the scope of unfair methods of competition under section 5 of the Federal Trade Commission Act. Section 5 of the FTC Act prohibits “unfair methods of competition,” which covers conduct that violates antitrust laws or section 5 itself.
On 28 October 2022, the US Commerce Department’s Bureau of Industry and Security issued a first round of FAQs regarding the advanced computing and semiconductor manufacturing Interim Final Rule, published on 13 October 2022 (87 Fed. Reg. 62,186) and amending the Export Administration Regulations. The FAQs clarify that that the new restrictions on exports and reexports to China also apply to Hong Kong.
In the special session of 9 November 2022, the Chamber of Deputies granted the necessary approval for Congress to pass Law 27,699 by means of which the Argentine Republic ratifies the Amending Protocol with respect to the Automated Processing of Personal Data (“Convention 108+”). To complete the ratification process, the National Executive Branch will now study the law and, if approved, it will be published in the Official Gazette.
