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Asia

06 November 2018

SFC Announces New Policy to Regulate Digital Assets

On November 1, 2018, following a rising tide of speculation, the Hong Kong regulator Securities and Futures Commission (SFC) announced a series of initiatives to regulate digital assets for the first time (and, apparently, without the need for any kind of legislative approval or backing). The initiatives, discussed below, take effect immediately. For purposes of the new regime, the SFC refers to “virtual assets” broadly defined to include initial coin offerings (ICOs), digital tokens (such as digital currencies, utility tokens or security or asset-backed tokens) and any other virtual commodities, cryptoassets and other assets of essentially the same nature (together “digital assets” herein as commonly understood in the industry). (more…)

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09 October 2018

Highlighting the Chinese Cybersecurity Law

Former Department of Homeland Security Chief Privacy Officer Hugo Teufel III and Sidley’s Edward McNicholas addressed a packed room on Chinese Cybersecurity Law at the 2018 Privacy + Security Forum hosted at George Washington University.  The timely presentation highlighted how, with significant attention in the past few years focused on the GDPR, many have not fully appreciated the significant policy and legal developments coming out of Beijing.  In particular, China has been creating a materially different approach to cybersecurity which serves the central purpose of defending the Chinese notion of cyber sovereignty.  Much uncertainty remains about the newly-effective laws and regulations, but it is clear that foreign technology and other companies operating in China should rapidly focus on its significant restrictions on outbound data transfer, the expansive definitions of “important data”, as well as reviews of network equipment security. Their presentation is available here.

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08 August 2018

Japan Granted Adequacy Deal on Data Protection by the EU

On July 17, 2018, the European Commission released a press release announcing Japan and the European Union have concluded talks on reciprocal adequacy of their respective data protection systems, alongside a corresponding Q&A on reciprocal adequacy. After successful negotiations, both jurisdictions have reached a mutual adequacy arrangement, recognising the adequacy in each jurisdiction’s data protection framework and representing the first time that the EU and a third country have agreed on a reciprocal recognition of the level of “adequate” data protection. (more…)

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16 April 2018

Hong Kong Issues EU Data Privacy Law Guidance on the upcoming GDPR

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…)

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15 March 2018

Singapore Joins APEC Cross-Border Privacy Rules System and Privacy Recognition for Processors Program

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…)

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01 March 2018

Monetary Authority of Singapore Consults on Proposed E-Payments User Protection Guidelines

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.

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02 January 2018

Privacy and Cybersecurity Top 10 for 2018

This past year was marked by ever more significant data breaches, growing cybersecurity regulatory requirements at the state and federal levels and continued challenges in harmonizing international privacy and cybersecurity regulations. We expect each of these trends to continue in 2018.

As we begin this New Year, here is list of the top 10 privacy and cybersecurity issues for 2018: (more…)

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27 December 2017

Hong Kong to Further Regulate Drones

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.

(more…)

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22 December 2017

The Fourth Edition of The Privacy, Data Protection and Cybersecurity Law Review Is Available

The fourth edition of The Privacy, Data Protection and Cybersecurity Law Review takes a look at the evolving global privacy, data protection and cybersecurity landscape in a time when mega breaches are becoming more common and businesses are coming under increased scrutiny from regulators, Boards of Directors and their customers. Several lawyers from Sidley’s global Privacy and Cybersecurity practice have contributed to this publication. See the links below for a closer look at this developing area of law. (more…)

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16 October 2017

Proposed Changes to Singapore’s Data Protection Act

On July 27, 2017, the Personal Data Protection Commission (PDPC) initiated a public consultation to consider several significant proposed changes to Singapore’s Personal Data Protection Act 2012 (PDPA). Citing technological advances and global developments, the PDPC proposed changes that would have the effect of (1) broadening the circumstances under which organizations could collect, use and disclose personal data without consent and (2) imposing a mandatory data breach notification requirement in certain situations.

(more…)

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