The Section of International Law and the Section of Antitrust Law in January jointly submitted comments on the White Paper of the Committee of Experts and the Ministry of Electronics and Information Technology on a Data Protection Framework for India. The White Paper will help support the drafting of a data protection bill. The comments provide recommendations for further modernizing and harmonizing with international data protection laws, norms, and practices. Read the comments.
Mexico enacted a Law to Regulate Financial Technology Companies on March 9, 2018. The law authorizes the Central Bank to regulate “virtual assets,” which includes cryptocurrencies, such as bitcoin, and virtual payment systems, such as those used in crowdfunding and gaming. The law aims to prevent money laundering. Read the law (in Spanish).
Singapore enacted a cybersecurity law on March 2, 2018. The Cybersecurity Act establishes the legal framework for oversight and maintenance of national cybersecurity, including the protection of critical information infrastructure within eleven critical sectors identified in the First Schedule of the Act. It empowers the Commissioner of Cybersecurity to investigate cybersecurity threats and incidents and establishes a framework for sharing cybersecurity information across the public and private sectors. The law provides a licensing framework for cybersecurity service providers. Read the Explanatory Statement, the FAQs, and the law.
United Arab Emirates
A new Arbitration Law is expected to come into force soon. Federal Law No. 6 of 2018 was released on May 3, 2018. Upon publication in the Official Gazette of the United Arab Emirates it will enter into force the following month. It aims to modernize the domestic legislative framework for arbitration and harmonize with international practice. It is based, in part, on the UNCITRAL Model Law on International Commercial Arbitration. The Emirates Maritime Arbitration Centre in Dubai provides a pre-publication version in Arabic.
The Section of International Law and the Section of Antitrust Law in May jointly submitted comments on the public consultation documents issued by the Competition and Markets Authority entitled Guidance on Requests for Internal Documents in Merger Investigations. The Sections provided recommendations for ways to enhance the effectiveness of the proposed Guidelines and their conformity with international best practices. Read the comments.