Can the data centre goldrush go green? Malaysia’s Johor shows we can move fast, but more is needed
Johor sits at the southern tip of Malaysia, minutes away from neighbouring Singapore. Lesser known than the nation’s capital, Kuala Lumpur, and less developed than its most populous state of Selangor, Johor – and its capital Johor Bahru – are rapidly rising in prominence.
29 August 2024
Financing Space Assets: 6 Things You Should Know
Financing space assets has many of the hallmarks of financing traditional aircraft and related assets. However, it does operate in its own unique environment, with its own significant opportunities and pitfalls.
05 August 2024
An update on Artificial Intelligence: A US Executive Order, a UK Summit and a plethora of letters, codes and resolutions
Recent developments in the field of artificial intelligence have been staggering. Perhaps the only thing in human history that has experienced greater growth is the number of AI-related summits, statements, letters, declarations and regulations - resulting in a tech lawyer’s version of the “productivity paradox”.
15 November 2023
5 key considerations to think about when investing in Artificial Intelligence
As organisations increasingly adopt a diverse range of artificial intelligence (AI) products for various purposes, the need to understand, highlight and mitigate risks inherent in the development, deployment and use of AI systems is becoming extremely important. In this article, we have summarised 5 key considerations for investors to consider when investing in AI systems.
12 October 2023
Funding winter – fixing the damaging valuation gap in APAC’s ailing Fintech companies
Amid a climate of high interest rates and other macroeconomic challenges, are APAC’s Fintech companies really unable to attract new investors and capital?
12 October 2023
Breaking down the barriers - operational enhancements set to better facilitate participation in the CDR
New changes to the CDR Rules will have a significant impact on the CDR regime, particularly to reduce barriers to participation in the CDR regime, better facilitate participation by CDR business consumers and introduce other operational enhancements.
14 August 2023
APRA has finalised CPS 230: The clock is ticking for regulated entities to comply with new requirements
On 17 July 2023, the Australian Prudential Regulation Authority (APRA) released the long awaited final Prudential Standard CPS 230 Operational Risk Management (CPS 230) following extensive industry consultation. CPS 230 will replace the current APRA Prudential Standards for Outsourcing (CPS 231 / SPS 231 / HPS 231) and Business Continuity Planning (CPS 232 / SPS 232) so that CPS 230 will become the core standard for APRA-regulated entities when outsourcing services and managing other operational risk (including business continuity).
03 August 2023
Non-bank lenders: key issues in the thin capitalisation amendment bill
We have been considering the implications for non-bank lenders of the recently released Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023 (Bill). The first version of these reforms was released in the March 2023 Exposure Draft (ED).
19 July 2023
UK Supreme Court weighs in on APP scams
The UK Supreme Court in a landmark judgment (Philipp v Barclays Bank UK Plc [2023] UKSC 25) has unanimously held that a bank does not have a common law duty to customers to refrain from acting on their instructions where the bank believes the customer is the victim of an authorised push payment scam.
14 July 2023
Australian Government releases new Data and Digital Government Strategy
The Minister for Finance, Senator the Hon Katy Gallagher, recently launched for consultation a draft Data and Digital Government Strategy: The data and digital vision for a world-leading APS to 2030 (Draft Strategy). You’re invited to make comments on the Draft Strategy by 25 July 2023.
07 July 2023
Hong Kong’s new financial crime tool
Fraud is one of the thorniest problems for banks and their customers globally, with billions of dollars of leakage to opportunists, criminal syndicates and thieves. The Hong Kong Monetary Authority (HKMA) has recently announced Hong Kong’s newest institutional financial crime tool – FINEST.
The initiative was launched in collaboration with the Hong Kong Police Force (HKPF) and The Hong Kong Association of Banks (HKAB).
King & Wood Mallesons was delighted to serve as legal advisor on the project.
This alert summarises the key points to know.
30 June 2023
Europe’s AI regulation gets real : what to know (and do) about the EU AI Act as it nears finalisation
More than two years ago, the European Union (EU) released the first draft of the Artificial Intelligence Act (AI Act). This was the first significant attempt at regulating AI on a large scale. In June, it passed a major milestone bringing it closer to finalisation. There is some way to go, but the signs are clear. Our experts share what the AI Act means for companies worldwide – and why now is the time to start thinking about risk mitigation steps.
26 June 2023
Lifting our gaze: an update on the Australian space industry and satellite cyber security
The Australian space industry has cause for excitement after a joint statement issued by the Prime Minister of Australia and the President of the United States on 20 May 2023.
26 May 2023
Expanding Mainland China NFT platforms into Hong Kong – What do you need to know?
This article discusses: (a) an overview of the recent NFT landscape in Mainland China; and (b) the key issues to consider when issuing NFTs, launching an NFT platform, or providing NFT-related services in Hong Kong.
23 May 2023
India: Navigating a Growing Data Centre Market
The Indian data centre market has attracted significant interest from foreign investors.
This, in part, is due to the efforts of the Indian government to significantly improve the country’s IT infrastructure under the National Digital Transformation Programme, as well as recently-passed data localisation laws and the growth of the e-commerce and FinTech solutions sectors.
In this short guide, we share our insights on the key considerations for foreign investors pursuing data centre opportunities in India, such as structuring, financing (equity and debt) and regulatory considerations.
As investors, developers, contractors and operators in the digital infrastructure sector globally look to improve the sustainability of their digital infrastructure assets, demand will increase for businesses engaged in creating solutions for efficient data storage and management.
10 May 2023
KWM privacy bytes – Privacy Act Review Report individual rights
Released in February this year, the Government’s long-awaited Privacy Act Review Report (Report) contains 116 proposals for privacy reform. In this, our second article in the Privacy Bytes series, we take a closer look at the new individual rights the Report proposes to include or expand in the Privacy Act.
09 May 2023
International comparison of Cyber Security regulatory settings: KWM report commissioned by AICD
The increasing regularity of high-profile cyber incidents is a constant and costly reminder that effective cyber resilience is fundamental to realising the promised benefits of digitisation. Australia is among many countries seeking to reboot its cyber defences.
08 May 2023
Cryptocurrency is “property” under Hong Kong law: Part 1 – what are the key implications and what is the judicial position in Mainland China?
On 31 March 2023, in the landmark decision of Re Gatecoin Limited (In Liquidation) [2023] HKCFI 914 (“Gatecoin Case”), the Court of First Instance of Hong Kong has, for the first time, ruled that cryptocurrency is “property” under Hong Kong law.
The Gatecoin Case is one step ahead of the Hong Kong Government’s policy statement that, in order to enhance investor protection, there is a possibility of introducing a statutory definition of cryptocurrency as property, while recognising that the unique characteristics of cryptocurrency may differ from traditional assets.
In ruling that cryptocurrency is “property”, the Gatecoin Case brings Hong Kong’s jurisprudence in line with other major common law jurisdictions. Interestingly, despite Mainland Chinese regulators’ imposition of a general ban on cryptocurrency trading, the judicial position in Mainland China on the legal status of Bitcoin also broadly aligns with that in major common law jurisdictions.
08 May 2023
DABUS dismissed again! United States Supreme Court declines to consider whether AI can be an inventor
This decision means that the lower court’s ruling holds — US patents can only be issued to human inventors and that Dr Thaler’s AI system (Device for the Autonomous Bootstrapping of Unified Sentience or DABUS) could not be considered the legal creator of two inventions that Dr Thaler said it generated.
27 April 2023
Developments in the regulation of Artificial Intelligence
Artificial intelligence (AI) has captured the attention of the world over the last 12 months. From AI chatbots to AI-generated art and inventions, AI has the potential to radically transform our economy, our society, and humanity.
19 April 2023
ChatGPT and the Importance of AI Governance
ChatGPT, the artificial intelligence chatbot developed by OpenAI, has become the fastest growing consumer product in history, reaching 100 million monthly active users within a mere 2 months of its launch. It has caused shockwaves across the education, media and marketing industries and has stoked fears of broader job losses amongst white collar workers.
14 April 2023
KWM Privacy Bytes - Privacy Act Review Report: Collecting and using of personal information
The Government’s long-awaited Privacy Act Review Report contains 116 proposals for reform. While not fundamentally changing the current principles based approach, these proposals will require a step change in how Australian companies collect and use personal information.
30 March 2023
Investing in Japanese data centres: a guide
Data centres – and in turn investments relating to them – are increasing worldwide. Japan is home to the third largest number of data centres, after the US and China. The regulatory settings in Japan may make it a more attractive destination for data centre investments in the future.
In this insight, we look at laws and regulations relating to data centres in Japan, as well as:
- Why it might become a favoured investment destination
- Customer contracting considerations
- Investment structuring
- ESG considerations (in particular, renewable energy), and
- Considerations when selecting the location of a DC.
Our experts are closely watching this space, both in Japan and across Asia.
22 March 2023
How technology is transforming green finance: blockchain carbon credit bonds break new ground
Green bonds have surged in use over the past two years, but the future growth and effectiveness of the market is threatened by difficulties confirming the credit quality of an issuer and ensuring proceeds are used to fund green projects.
21 March 2023
Not by the same token - Treasury releases its Token Mapping consultation
This month, the Australian Treasury released the Token Mapping consultation paper (“Paper”), a “foundational step” for establishing a framework for reform for the crypto sector.
01 March 2023
The Metaverse: So What Is It, Exactly?
The metaverse is a predicted next wave of the internet, characterised by 3D computing, immersive technologies, interconnection and changes to how users interact with the internet.• The metaverse is a predicted next wave of the internet, characterised by 3D computing, immersive technologies, interconnection and changes to how users interact with the internet.
24 October 2022
Vietnam: Opportunities in the data centre market
In this short guide, we share our insights on the key considerations for foreign investors pursuing data centre opportunities in Vietnam.
12 October 2022
Not your regular Merger
The Merge is probably the most anticipated and complex upgrade to Ethereum in the blockchain’s history. Its impact may extend far beyond Ethereum, making the Merge, quite frankly, one of the most important moments in the history of the crypto market. But what is the Merge, and why does it matter?
26 September 2022
Making it through the VC ‘funding winter’: convertible notes and investor-friendly terms become more prominent
Companies that rely on venture capital financing have experienced challenging fundraising conditions in the last 6 months in stark contrast to the height of the VC market in late 2021. We are seeing VC investors
26 September 2022
The Metaverse: The Next Wave of the Internet
The metaverse is more than just a sci-fi fantasy or a talking point for futurists: real technological innovations, investments and changes in consumer behaviour are happening right now.
26 September 2022
Only the link: Google not liable for defamation
In allowing the appeal, the majority found that, in circumstances where Google did not participate in the writing or dissemination of the defamatory article, the provision of the hyperlink merely facilitated access to the article. Google neither “lent assistance” to the original publisher, nor did it participate in any “bilateral process” of, communicating the article to third-party users.
18 August 2022
5 key issues in negotiating cloud contracts
With the promise of cost savings, greater flexibility and ability to scale, it is not surprising that companies are continuing to move their key business applications and data to the cloud.
15 August 2022
KWM South & Southeast Asia Data Centre Briefing
South & Southeast Asia is one of the fastest-growing markets for data centres in the world.
24 May 2022
VC Meets Crypto - 5 Lessons from the Metaverse
The cryptocurrency industry has come a long way in a few short years.
16 May 2022
Themes emerging from recent crypto attacks
We are barely finished with the first quarter of the calendar year and already we have seen multiple “hacks” in the crypto space that have resulted in the losses of over US$1 billion.
16 May 2022
What is an NFT?
With the explosion of web 3.0 and the metaverse, non-fungible tokens (NFTs) have come to the fore. Whether it be digital collectibles, gaming, artwork or sport, these unique tokens play an important role in metaverse based systems.
11 May 2022
Of charlatans and poor choices: how restrictions on crypto assets are growing worldwide
Yet the ancient origin of the word goes to the essence of today’s regulatory tension: ‘crypto’ has its origin in the Greek word ‘kruptos’, meaning ‘hidden’. Governments and regulators around the world are working to bring crypto assets into view.
22 February 2022
Financing Space Assets 2020: 6 Things You Should Know
Financing space assets has many of the hallmarks of financing traditional aircraft and related assets. However, it does operate in its own unique environment, with its own significant opportunities and pitfalls.
26 June 2020
International comparison of Cyber Security regulatory settings - Summary
The increasing regularity of high-profile cyber incidents is a constant and costly reminder that effective cyber resilience is fundamental to realising the promised benefits of digitisation. Australia is among many countries seeking to reboot its cyber defences.