Singapore proposes mandatory insurance for work injuries

Singapore proposes mandatory insurance for work injuries

Singapore proposes mandatory insurance for work injuries

A review of the Work Injury Compensation Act (WICA) by Singapore’s Ministry of Manpower (MoM) has proposed extending mandatory insurance coverage so that workers have a greater chance of being compensated for workplace accidents and injuries. The review proposes extending both the breadth of coverage and the size of the payouts. At present, WICA requires employers to compensate their employees…

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore’s health ministry has disclosed that more than 14,200 people with HIV had their registry data leaked online raising more questions about the security of its citizens’ medical records. The cyberattack, which occurred in 2016 but was only discovered on 22 January, is the second major leak of personal health data to be reported in less than a year following…

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

In July 2018, news emerged that between 27 June and 4 July, hackers had infiltrated the IT systems of Singapore Health Services (SingHealth), the largest healthcare group in Singapore. The hackers illegally accessed and copied the non-medical personal particulars of 1,495,367 patients to servers hosted overseas. Approximately 159,000 of the affected group, including Prime Minister Lee Hsien Loong and several…

Flying into the future: Australian Senate Inquiry into drones

Flying into the future: Australian Senate Inquiry into drones

Flying into the future: Australian Senate Inquiry into drones

The long-awaited Australian Senate Inquiry report into the current and future regulatory framework for remotely piloted aircraft (drones) in Australia was released on 31 July 2018. The report was highly anticipated. During the 18-month period of consultation with operators, regulators and businesses, the Senate Inquiry committee heard that Australia is at the forefront of drones. Australia’s aviation regulator, the Civil…

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

There will be little time for multinationals to mourn the end of the post-war liberal consensus that brought about globalisation, as the developing US-China trade war, and the story it foretells about a new world order, becomes the defining geopolitical risk in 2019, according to Control Risks…

Nissan chairman arrested on financial irregularities charge

Nissan chairman arrested on financial irregularities charge

Nissan chairman arrested on financial irregularities charge

Carlos Ghosn, one of the most powerful men in the global car industry, has been arrested for allegedly understating his income and engaging in other financial irregularities. The chairman of Japan-based car manufacturer Nissan, and also chief executive and chairman of Renault and Mitsubishi, is to be dismissed over the charges, bringing a likely end to a glittering career in…

Hong Kong introduces new arbitration rules

Hong Kong introduces new arbitration rules

Hong Kong introduces new arbitration rules

Hong Kong law firms are advising companies active in the territory to take a close look at new Adminsitered Arbitration Rules (2018 Rules) introduced by the Hong Kong International Arbitration Centre (HKIAC) at the start of November. Baker McKenzie states that the 2018 Rules introduce a raft of important and useful amendments including rules facilitating complex arbitrations, a procedure for…

Climate risk disclosure – a globally coordinated approach by regulators?

Climate risk disclosure – a globally coordinated approach by regulators?

Climate risk disclosure – a globally coordinated approach by regulators?

With the world’s leading climate change scientists warning that the world has only 12 years to limit a climate change “catastrophe”, in the UN Intergovernmental Panel on Climate Change, published on 8 October, the focus on climate change has never been higher and regulatory scrutiny of how businesses assess and disclose their climate change risk exposures is set to increase…

Support for climate disclosures gathers pace

Support for climate disclosures gathers pace

Support for climate disclosures gathers pace

More than 500 global financial firms have now backed climate-related disclosures recommended by the Task Force on Climate-related Financial Disclosures (TCFD), up from just 100 when the recommendations were published last year. In its latest status report, the Financial Stability Board’s (FSB) taskforce says support for climate-related disclosures have gathered momentum and started to translate into financial filings. Most of…

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

New Chinese body cracks down on market confusion acts, trade secrets and web misconduct

The Chinese government has continued its crackdown on market confusion acts, trade secret infringement and internet-related misconduct, and is focusing its efforts particularly on the online and pharmaceutical industries. Experts advise risk managers with companies that procure products from China to make doubly sure that they are asking the right questions of suppliers to ensure that they are compliant. The latest…

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