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14 June 2016

Red Tape: Global regulatory insights

In this edition of Red Tape, we look at a number of regulatory developments and trends in key markets in which our clients do business.

The referendum on 23 June 2016 will decide whether the UK will stay in or leave the European Union. One of the key arguments of the “Leave” Campaign is that Brexit will reduce the amount of red tape faced by UK businesses. Our article looks at some of the myths that underpin this argument. It also links to the perspectives, independent market research and survey of business leaders that you can see at Brexit: Perspectives from KWM

This edition also looks at the topical issue of transfer pricing for multi-national enterprises (MNEs). In response to intense political pressure, governments around the world have stepped up their “tough on multi-nationals tax” rhetoric. This has resulted in strengthened transfer pricing laws and regulations, and numerous global audits on transfer pricing arrangements, including State aid investigations in the European Union. We also consider the way in which authorities in Australia and China are approaching foreign investment and, in particular, ensuring that appropriate tax is paid by MNEs. Each of these developments raise important considerations for clients.

With the increasing global drive for food security, our Australian, China and European teams look at recent developments aimed at freeing up trade and removing non-tariff barriers to the international trade of agri-foods. This involves an overview of recent developments in international trade treaties, together with some of the challenges that continue to present barriers to trade.

The significant rise in high-profile data security breaches over the past year has also led to an increased focus for clients on data breach notification laws around the world. In this edition, we look at a number of recent developments in the EU and in Australia.

We also outline some of the key regulatory reforms in South Africa’s financial sector, which we have had a key policy and legal role in developing, together with an overview of the key developments in the competition law rules administered by the Common Market of Eastern and Southern Africa Competition Commission.

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