China Proposes Measures For Voluntary Trading Of Carbon Emission Reduction Credits
July 9, 2012 in International Environment Reporter
PHILADELPHIA—China’s top planning body, the National Development and Reform Commission (NRDC), has recommended measures for establishing exchanges for voluntary trading of carbon emission reduction credits.
European Parliament Overwhelmingly Rejects Anti-Counterfeiting Trade Agreement
July 9, 2012 in WTO Reporter
BRUSSELS—The likelihood that the Anti-Counterfeiting Trade Agreement will be approved in the European Union in the near future vanished July 4 when the European Parliament voted overwhelmingly against the controversial treaty by a vote of 478—39, with 165 abstentions.
Hong Kong Lawmakers Pass Legislation To Overhaul Framework Privacy Ordinance
July 9, 2012 in Privacy & Security Law Report
MELBOURNE, Australia—Hong Kong’s Privacy Commissioner for Personal Data, Allan Chiang, has welcomed the June 27 passage of legislation that would amend Hong Kong’s privacy ordinance, highlighting tighter controls on the transfer or sale of personal data and on its use for direct marketing.
EU Article 29 Data Protection Working Party Issues Guidance For Cloud Computing Services Clients
July 9, 2012 in Privacy & Security Law Report
BRUSSELS—Cloud computing service clients in the European Union are obliged to select a provider that guarantees compliance with EU data protection law, the Article 29 Working Party said in a formal opinion released July 3.
European Commission Issues Rules For Sovereign Debt CDS, Short Sales
July 9, 2012 in Securities Regulation & Law Report
BRUSSELS—The European Commission July 5 issued rules to implement recently approved legislation banning uncovered sovereign credit default swaps and short sales of shares and sovereign debt.
Basel Committee Unveils Proposals On Risk Reporting For ‘Too Big To Fail’ Banks
July 9, 2012 in Banking Report
GENEVA—The Basel Committee on Banking Supervision unveiled June 26 a new proposal designed to improve the risk data aggregation capabilities and risk reporting practices of “too big to fail” banks.
Basel Committee Issues Final Rules On Capital Reserves Disclosure
July 9, 2012 in Banking Report
GENEVA—The Basel Committee on Banking Supervision issued June 26 its final new rules requiring internationally active banks to disclose the composition of their capital reserves.