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In Payment System

Indonesia: 2030 Payment System Blueprint – Indonesia marches on in propelling the digital economy

by 4 Mins Read

As a continuation of the 2025 Payment System Blueprint (see November 2019 alert), which led to the successful implementation of key initiatives such as (i) the continued domestic and cross-border implementation of the Quick Response Code Indonesia Standard (QRIS) (see August 2019 and September 2022 alerts), (ii) the National Open API Standard (SNAP) (see August 2021 alert), (iii) the real-time payments infrastructure (BI-FAST), and (iv) regulatory, licensing, and supervisory reforms (see January 2021 alert), Bank Indonesia has now…

In Quistclose Trust

Hong Kong: Court of Final Appeal clarifies the law on Quistclose trusts

by and 6 Mins Read

In brief The Court of Final Appeal (CFA) has, in its recent judgment (link to Judgment), considered the applicable test for determining whether a Quistclose trust exists. In simple terms, a Quistclose trust (named after a House of Lords decision) is a type of trust that comes into existence when a person transfers money or property to another person by way of a loan or otherwise, with the intention that the money or property be used for a specific…

In Criminal Law

Philippines: New rules on preliminary investigations and inquests for criminal cases take effect on 31 July 2024

by , and 11 Mins Read

In brief On 16 July 2024, the Department of Justice (DOJ) issued Department Circular No. 015 or the “2024 DOJ-NPS Rules on Preliminary Investigations and Inquest Proceedings” (“Rules”). The Rules mark a significant change to the conduct of criminal proceedings in the Philippines, as they supersede the rules on preliminary investigations previously found in the Rules of Court. The Rules cover the procedure for case build-up, preliminary investigation, inquest proceedings (in situations involving warrantless arrests)…

In Cashless Payment

Vietnam: New decree on cashless payments

by , and 7 Mins Read

In brief On 15 May 2024, the Government officially issued the new Decree No. 52/2024/ND-CP to regulate cashless payments (“Decree No. 52”). Decree No. 52 takes effect from 1 July 2024 and replaces the previous Decree No. 101/2012/ND-CP on cashless payments, as amended from time to time (“Decree No. 101”). Among other things, Decree No. 52 sets forth regulations mainly on opening and using payment accounts, cashless payment services and intermediary payment services (IPS). Decree…

In Specialized IP Court

Vietnam approves specialized IP court, marking a milestone for intellectual property protection and enforcement

by , , , , , and 3 Mins Read

In brief In detail The establishment of the Specialized IP Court in Vietnam’s court system represents a significant step in shaping the development of the country’s intellectual property landscape. Below are the key insights regarding the Specialized IP Court as prescribed in the Law: The Supreme People’s Court will take steps to prepare for the official establishment of specialized courts, including developing specific proposals and plans, reporting to and seeking consultation from competent authorities on…

In IP Disputes

Vietnam: Specialized IP Court proposed under draft law on court organization

by , , and 3 Mins Read

In brief The People’s Supreme Court and the National Assembly (NA) of Vietnam are expediting the issuance of a draft law that supersedes the existing Law on Organization of People’s Courts. Among the proposed changes in the draft law, the option to establish a Specialized Court of First Instance for Intellectual Property (“Specialized IP Court”) has garnered considerable interest from intellectual property and legal professionals. The draft law is currently under review by the NA…

In Criminal Offense

Thailand: End of an era – Thailand to cease criminalizing bad checks

by , and 4 Mins Read

In brief After more than half a century, Thailand is now proceeding to de-legislate criminal offenses related to the issuance of checks. The first Thai legislation prescribing criminal offenses arising from check issuance came into effect on 13 October 1954, making Thailand one of the few countries that impose criminal liability on the dishonest use of checks. While the 1954 law significantly deterred the public from using bad checks to commit fraud and other illegal…

In Artificial Intelligence

China: A landmark court ruling on copyright protection for AI-generated works

by , and 7 Mins Read

In brief Recently, a groundbreaking court judgment marked a milestone in Chinese intellectual property (IP) law by recognising copyright protection for images generated by Artificial Intelligence (AI). The judgment carries significant implications for the future of AI and IP in China, as it indicates that the Chinese courts would be willing to recognise the copyrightability of AI-generated works in appropriate cases. While whether or not an AI-generated work is copyrightable in China will still need…

In Non-Compete Clause

Hong Kong: Court reaffirmed its robust approach on the enforceability of non-compete clauses in an employment context

by and 5 Mins Read

In brief A recent decision of the Hong Kong Court reaffirmed the robust approach taken by the Court in examining the enforceability of a non-compete clause in an employment context even at the interim-interim stage. A former employer has the burden of proof to adduce evidence to substantiate that a non-compete clause is reasonable and necessary for the protection of the former employer’s legitimate business interests for it to be enforceable. The Court will take…

In Cyber Fraud Recovery

Hong Kong: Court of Final Appeal upholds Hong Kong Police’s No Consent Regime

by , , and 6 Mins Read

In brief On 10 April 2024, the Hong Kong Court of Final Appeal (CFA), Hong Kong’s highest court, delivered its judgment in Tam Sze Leung & Ors v Commissioner of Police [2024] HKCFA 8, affirming the validity of the ‘No Consent Regime’ (“Regime”) of the Hong Kong Police (“Police”). As we set out in our previous alerts (here, here and here), the Regime encompassed a practice of issuing “Letters of No Consent” (LNCs) to financial institutions for customer accounts that…

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