China Approves Special Plan to Develop Clean Technology, Efficiency as Key Sectors
June 7, 2012 in International Environment Reporter
SHENZHEN, China—China’s highest decisionmaking body has approved a special plan for the 12th Five-Year Plan period (2011–2015) to develop seven strategic industries, including technology for energy efficiency and water resource protection, alternative energy, and innovative vehicles.
Ukraine Enacts New Customs Code June 1 Aimed at Streamlining Clearance Procedures
June 7, 2012 in WTO Reporter
MOSCOW—Ukrainian authorities moved to enact a new Customs Code, which takes effect June 1, aimed at simplifying customs procedures, Ukraine’s State Customs Service said in an announcement issued May 31.
India Announces Package of Incentives to Boost Exports
June 7, 2012 in WTO Reporter
MUMBAI—Faced with a trade deficit, a sluggish economy, and a sliding rupee, India on June 5 announced a slew of measures to boost exports.
The steps include prolonging an interest subsidy, or subvention, of 2 percent on handlooms, handicrafts, carpets, and products of small- and medium-sized enterprises until March 31, 2013, and extending the subsidy to labor-intensive sectors such as toys, sporting goods, processed agricultural products, and ready-made garments.
U.K. ‘Cookies’ Consent Rules Take Effect; Official Says Negotiation Favored Over Fines
June 7, 2012 in Privacy & Security Law Report
LONDON—The release by the U.K. Information Commissioner’s Office of written guidance, a video, video transcript, and a blog on compliance with U.K. cookies rules underscore that it prefers negotiation, or even ordering firms to follow certain security measures, rather than slapping them with monetary penalties.
France’s New Breach Notice Guidelines Pose Challenges, Practitioners Say
June 7, 2012 in Privacy & Security Law Report
PARIS—The French data protection regulator (CNIL) May 28 published new guidance that spells out data breach notification requirements, which were appended by the government to the country’s 1978 data protection act in 2011 but did not take effect until April 1.
European Commission Proposes ‘Banking Union’ To Share Oversight, Deposit Guarantee Duty
June 7, 2012 in BNA's Banking Report
BRUSSELS—The European Commission proposed May 30 that the euro zone should evolve into a “banking union” with joint supervision and a common deposit guarantee.
Chinese Securities Regulator Pledges To Further Ease Restrictions On Foreign Investors
June 7, 2012 in World Securities Law Report
China’s securities regulator pledged during May 2012 to further ease restrictions on a 10-year-old program that allows foreign investors to tap China’s domestic stock market.
ANALYSIS: India’s New Alternative Investment Funds Regulations
June 7, 2012 in World Securities Law Report
On August 1, 2011, the Securities and Exchange Board of India (“SEBI”) introduced the draft SEBI (Alternative Investment Funds) Regulations, 2011 (“Draft Regulations”), a comprehensive regulatory framework for regulating private pools of capital, i.e., alternative investment funds (“AIFs”). The Draft Regulations, which contained provisions proposing to drastically alter the mechanics for the Indian funds industry, came as a total surprise to the industry.