CSRC issues draft rules in a bid to regulate fund investment advisors. Data shall not be collected other than when facial recognition is active. Shanghai requires the establishment of a chief data officer system.
Sanctions are an increasing area of business risk for those doing business with Chinese enterprises. Jianwei (Jerry) Fang and Chuchen (Julie) Hou of Zhong Lun Law Firm analyze so-called sanction-proof clauses and how they could assist businesses in China seeking to negotiate their ongoing business relationships.
China's data security laws lead to increasing costs for firms; CFIUS clarifies rules regarding the "completion date" for filing and requests for information from foreign investors; fewer firms are choosing Hong Kong for international arbitration due to the National Security Law
The National Information Security Standardization Technical Committee issues guidelines on assessing network data risks. CAC issues a law draft regulating cybersecurity when using Bluetooth and Wi-Fi. Foreign institutions may not collect PRC human genetic resources.
Geoffrey Chan and Brian Wong of Skadden, Arps, Slate, Meagher & Flom highlight the recent U.S. Securities and Exchange Commission (SEC) developments regarding secondaries transactions and considerations that private equity general partners (GPs) should bear in mind when contemplating liquidity solutions in the PE secondary market
Chinese tech entrepreneurs are considering moving out of China in order to overcome U.S. tech restrictions; Hong Kong publishes guidelines for virtual asset operators and the licensing process; and China's proposal to impose restrictions on private securities funds causes controversy.
CAC sets forth guidelines for filing of standard contracts of overseas data transfers. Guidelines are proposed detailing when notification and consent is required from individuals when processing personal data. CNIPA defines irregular patent application acts.