The guide provides the latest regulatory information on sandboxes, robo-advisers, online lenders, payment processors, marketplaces, exchanges and trading platforms, high-frequency and algorithmic trading, financial research platforms, insurtech, regtech, blockchain, non-fungible tokens (NFTs) and open banking.
The guide provides key legal information on the regulatory environment for digital health, potential legal issues, and other hot topics at the intersection of healthcare, data and technology.
To learn more about the latest trends and developments in digital healthcare in the Philippines, access the Philippine chapter of Chambers and Partners Digital Healthcare Global Guide 2022, exclusively authored by Quisumbing Torres.
On 30 August 2022, the Indonesian House of Representatives agreed to pass a law ratifying the Regional Comprehensive Economic Partnership, the largest regional free trade agreement outside the World Trade Organization — involving 10 ASEAN countries and five non-ASEAN countries, i.e., China, New Zealand, Australia, Japan and South Korea. With the passing of this law, which still requires promulgation by the President, RCEP is set to come into force for Indonesia, possibly before the end of the year.
The Philippines logged one of the highest growth rates as an emerging data center market alongside Malaysia and Thailand, supporting the active digital profile of Filipinos.
Access Quisumbing Torres’ Developing and Operating Data Centers in the Philippines to learn more about the key legal issues for data center investors. The guide provides the relevant regulatory information including issues and considerations related to foreign investment controls, data (i.e., privacy, telecommunications laws, cybersecurity, data localization, antitrust),tax, M&A, financing, sustainability and real estate.
On 18 August 2022, a webinar entitled Managing Customs Disputes in the Philippines took place as part of the Asia Pacific IMT webinar series. The collection targets of both the Philippine Bureau of Internal Revenue and the Bureau of Customs have increased to recover the lost government revenue caused by the pandemic. This has resulted in a rise in the imposition of penalties on importers for non-compliance. The webinar provides a brief discussion of the common issues raised during border disputes and post clearance audits, and the remedies available to the importers.
The National Privacy Commission issued Circular No. 2022-01 on 12 August 2022, entitled “Guidelines on Administrative Fines”. The Circular fixes the administrative fines to be imposed upon personal information controllers or personal information processors for infractions of the Data Privacy Act of 2012, its implementing rules and regulations, and the issuances of the NPC. The Circular takes effect on 27 August 2022 and will apply prospectively. Thus, complaints that have already been filed with the NPC prior to the effectivity date are not covered by the Circular.
The National Privacy Commission recently announced that the deadline for the submission of Annual Security Incident Reports for the years 2018 to 2021 is on 31 October 2022, while the deadline to submit the 2022 version of said report is on 31 March 2023.
As global and regional integration increases, multinational companies ought to navigate numerous custom-related complexities and challenges imposed by relevant authorities in any jurisdiction. This webinar series provide an in-depth coverage of legal frameworks, practical issues and key trends and developments surrounding customs audits in select Asia Pacific jurisdictions.
On 12 May 2022, the President issued Executive Order No. 169, which seeks to intensify government efforts in strengthening the franchising industry and to help businesses, especially micro, small and medium enterprises, by developing a transparent and business-friendly environment, and promoting fair and equitable practices.
On 4 March 2022, a Joint Administrative Order No. 22-01entitled Guidelines for Online Businesses Reiterating the Laws and Regulations Applicable to Online Business and Consumers, was published among 6 government bodies. The JAO seeks to increase consumer confidence in business-to-consumer and business-to-business e-commerce transactions by ensuring that e-commerce platforms, electronic retailers and online merchants are guided on the rules, regulations and responsibilities in the conduct of online business. It reiterates existing policies, procedures and guidelines that apply to online businesses, and provides an integrated remedies process for online consumers.