Following the unexpected handshake between President Trump and North Korean leader Kim Jong-un on 30 June at the Korean Demilitarized Zone, several clients have expressed renewed interest in where things are headed on the Korean peninsula. RANE experts note that the international sanctions regime against Pyongyang remains strong and, along with other geopolitical events of which South Korea finds itself near the epicenter, creates risks for companies with interests in Korea or operations there.
In effect for just over a year, the EU’s General Data Protection Regulation (GDPR) has increased awareness of privacy issues and generated hundreds of thousands of complaints alleging privacy violations, but relatively few penalties beyond Google’s €50 million fine ($56.8 million) for failing to obtain users’ consent to deliver personalized advertising. Yet the law has spurred copycat legislation, including the California Consumer Privacy Act (CCPA) and the proposed New York Privacy Act (NYPA), as well as efforts by other states. While the CCPA is set to take effect January 1, 2020 — unless it is superseded by federal law, a possibility that looks less likely amid political gridlock in Washington, D.C. — enterprises have largely reacted by placing increased emphasis on due diligence around mergers and acquisitions, though efforts haven’t been equally robust across all sectors. To help gain perspective around what privacy regulations mean for the M&A space, RANE recently spoke with Mike Morrissey of Sytorus.
In recent years, China has passed a number of new laws and regulations which significantly affect how foreign companies do business there and the risks they face. While highly publicized laws passed within the last year present the possibility of increased market openness and access for foreign firms, key regulations that the government instituted in 2015 and 2017 continue to make China a risky business environment. On top of new regulations, Chinese actions in the ongoing US-China trade war will only increase business uncertainty. RANE spoke with experts in our network about the evolution of Chinese regulations to learn what businesses need to know.