The Hong Kong Office of the Privacy Commissioner for Personal Data (the “Hong Kong Data Privacy Commissioner”) has recently published compliance guidance on the upcoming GDPR to raise awareness in Hong Kong companies about the potential effects and reforms needed in order to comply with the new GDPR requirements. (more…)
On March 6, 2018, Singapore announced that it has joined the APEC Cross-Border Privacy Rules (CBPR) system as well as the APEC Privacy Recognition for Processors (PRP) program. Singapore is the sixth member of the CBPR system, which includes Canada, Japan, Korea, Mexico and the United States, and is the second member of the PRP program after the US. (more…)
On Feb. 13, 2018, the Monetary Authority of Singapore (MAS) issued a Consultation Paper on the Proposed E-Payments User Protection Guidelines (Consultation Paper). Under the Consultation Paper, the MAS proposes to issue a set of guidelines (Guidelines) to standardize the protection offered to individuals or micro-enterprises from losses arising from unauthorized or mistaken payment transactions.
The Guidelines are part of MAS’s ongoing review of Singapore’s regulatory framework for payment services. They are meant to provide general guidance and are not intended to be comprehensive or to replace or override any legislation.
With the rise in drone usage for both commercial and recreational activities, air safety regulators around the world have increasingly focused on the impact of drones (otherwise known as unmanned aircraft systems or UAS) on flight safety and efficiency. Consistent with calls by the International Air Transport Association (IATA) for more oversight, Hong Kong’s Civil Aviation Department (CAD) recently announced plans to step up the regulation of commercial and recreational drones.
As the FinTech industry continues to expand, regulators around the globe are starting to react. The past 18 months have seen the emergence of a new trend in financial services regulation, the “sandbox.”
Since the launch of the UK’s regulatory sandbox in May 2016, regulators across the globe have adopted similar frameworks. There are now regulatory sandboxes in Abu Dhabi, Australia, Canada, Hong Kong, Lithuania, Singapore, Switzerland and Thailand, to name a few, and the European Union recently set out proposals for a possible EU-wide regulatory sandbox. (more…)
Singapore’s Personal Data Protection Commission (PDPC) has launched a public consultation into a proposed revision to the law that would require reporting of certain data breaches. Singapore currently uses a voluntary approach to data breach notifications, but, according to the PDPC, this has resulted in uneven notification practices. Under the proposals, it will be mandatory for organizations to inform customers of personal data breaches that pose any risk of impact or harm to the affected individual as soon as they are discovered. If an incident involves 500 or more individuals, organizations will need to notify the PDPC as soon as possible but no later than 72 hours after discovery of the breach. The proposals aim to allow individuals to take steps to protect their interests in the event of a data breach, for example, by changing their password. (more…)
The Personal Data Protection Act, 2012 (PDPA), Singapore’s general data protection law, governs the collection, use and disclosure of personal data. The Singapore Personal Data Protection Commission (PDPC), which enforces the PDPA, recently updated the chapter on data anonymization found in its Advisory Guidelines (Guidelines). The Guidelines are not legally binding but provide guidance on how the PDPC will interpret the PDPA. The revisions encourage organizations to incorporate into the process of anonymizing data an inquiry into the risks that the data may be re-identified and any potential negative effect on the individuals involved rather than focusing purely on the various techniques to anonymize the data.
In keeping with Singapore’s recent emphasis on strengthening national cybersecurity protections, on March 9, 2017, the Ministry of Home Affairs (MHA) announced proposed amendments to the existing Computer Misuse and Cybersecurity Act (CMCA). The proposed amendment, Bill No. 15/2017, would broaden the scope of the CMCA by criminalizing certain conduct not covered by the existing law and enhancing penalties in certain situations.
On November 7, 2016, the Standing Committee of the National People’s Congress of China promulgated the Cyber Security Law of the People’s Republic of China (the “Cyber Security Law”) after three rounds of readings in June 2015, June and October 2016, respectively. The Cyber Security Law will enter into force on June 1, 2017. As early as July 1, 2015, the National Security Law of the People’s Republic of China was promulgated, expressly providing that the state shall “safeguard sovereignty and security of cyberspace in the state,” a theme that is reiterated and emphasized in Article 1 of the Cyber Security Law. The introduction of the concept of “cyber space sovereignty” in the Cyber Security Law echoes the views of President Xi Jinping, who is also the head of the Office of the Central Leading Group for Cyberspace Affairs, and who has stated in February 2014 that “[n]o cyber safety means no national security.” Critically, the Cyber Security Law may have global implications, as the Law applies to both Chinese and international businesses engaging in the construction, operation, maintenance or use of information networks in China.