ECJ rules on the passenger’s right to compensation from non-EU air carriers
The European Court of Justice (the “ECJ”), on 7 April 2022, delivered a preliminary ruling with regards to Regulation (EC) No 261/2004 which establishes common rules on compensation and assistance to passengers in the event of denied boarding and of cancellation or long delay of flights (the “Air Passenger Rights Regulation”) and as a result, has extended …
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EBA issues Guidelines on policies and procedures in relation to Compliance Management and the role and responsibilities of the AML/CFT Compliance Officer
On 2 August 2021, the European Banking Authority (the “EBA”) launched a public consultation on the on policies and procedures in relation to compliance management and the role and responsibilities of the anti-money laundering and counter financing of terrorism (“AML/CFT”) compliance officer under Article 8 and Chapter VI of Directive (EU) 2015/849 [1].
SUMMARY OF KEY LEGAL REQUIREMENTS FOR PROJECTS USING SPECIAL LOCATIONS IN VIETNAM
NO SPECIAL LOCATIONS RELEVANT LEGAL DOCUMENTS RELEVANT DEFINITIONS RELEVANT REQUIREMENTS 1 Projects using land on islands or in a border, coastal communes, wards, or townships Law on Investment Decree 43/2014/NĐ-CP Decree 34/2014/ND-CP N/A – M&A Approval for foreign investors regarding capital contribution or purchase of shares in companies having land use right …
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Changes to rating algorithms used by online platform business operators may violate the Antimonopoly Act
On June 16, 2022, the Tokyo District Court held that “Kakaku.com”, the operator of an online restaurant review and search platform, had abused its superior bargaining position and violated the Antimonopoly Act by improperly changing its restaurant rating algorithm.
Trends and market standards regarding startup investment in Japan
According to a recent survey [1], the amount of total funds raised by startups incorporated in Japan reached a record high and exceeded JPY 800 billion in 2021 (the total funding amount was just shy of JPY 90 billion in 2013). Despite the weakening economy and stock market, the pace does not seem to have …
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Developments in sustainability and corporate governance disclosure in Japan
On June 13, 2022, the Working Group on Corporate Disclosure of the Financial System Council, an expert council established under the Financial Services Agency of Japan (the “Working Group”), published its report (the “Report”) regarding the proposed reformation of the corporate disclosure obligations of Japanese listed companies [1]. In the Report, the Working Group proposed …
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M&A Review: Recent Technology Deals in Malaysia
According to United Nations Conference on Trade and Development (“UNCTAD”), the number of cross-border mergers and acquisitions (“M&A”) globally declined by 15% year-on-year in the first nine months of 2020. [1] However, the trend in Asia is the polar opposite, with equivalent M&A activity in the region rising by 60% year-on-year over the same period, …
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Avoiding Cartel under Malaysian Competition Law: Tips for Companies
The Malaysia Competition Commission (“MyCC”) has recently imposed financial penalties for RM1.04 million against 7 warehouse operators (“Parties”) for engaging in a price-fixing cartel. The parties were found to have infringed the prohibition under Section 4 of the Competition Act 2010 (“CA2010”) by participating in an agreement which has, as its object, the prevention, restriction …
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Participation of Foreign Contractors in Construction Projects in Malaysia
In recent years, Malaysia’s construction industry has been on the rise with a whole host of newly-announced large scale projects which is seen as ongoing momentum to the industry growth. Given the expansion scale of the market, it is unsurprising that overseas market players, particularly foreign contractors have targeted at the opportunities offered by Malaysia’s …
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Dismissing Employees in Malaysia
The COVID-19 pandemic has caused mass redundancies, retrenchment, and dismissals of employees across all sectors of employment locally as well as internationally with the closure and downsizing of businesses. Now more than ever, it is important for employees to arm themselves with knowledge of their legal rights to ensure that they are not unfairly dismissed.