242-FZ, was adopted as a set of amendments to Russia's On Personal Data Law in July 2014 and originally slated to come into force on September 1, 2016. The SFC wants to know how it can exercise enforcement if it cant exercise a dawn raid. Tel: +852 6778 7098. I have to create a new company DB with Hong Kong Localization, but I can't find it in the list. The PIPL moves to resolve these uncertainties with respect to cross-border transfer of personal data, but in a way that multinational organizations will likely find challenging in practice. Traffic data from Traffic Data Analytics System, The Second Hong Kong Population-based Food Consumption Survey (2018-2020), Accumulative Number of Senior Citizen Cards issued, ELECTRICAL AND MECHANICAL SERVICES DEPARTMENT, Approved Student Number Targets (Full-time equivalent) of UGC-funded Programmes by University and Level of Study, Average Annual Salaries of Graduates of Full-time UGC-funded programmes who were in Full-time Employment by Level of Study and Broad Academic Programme Category, AGRICULTURE, FISHERIES AND CONSERVATION DEPARTMENT, CIVIL ENGINEERING AND DEVELOPMENT DEPARTMENT, Ground Investigation (GI) and Laboratory Test (LT) Records, Regional Weather in Hong Kong - the latest 10-minute mean wind direction and wind speed and maximum gust, Regional Weather in Hong Kong - the latest 1-minute global solar radiation and direct solar radiation and diffuse radiation, Regional Weather in Hong Kong - the latest 1-minute mean grass temperature from 5:00 p.m. to 8:00 a.m. the following date Hong Kong time, Regional Weather in Hong Kong - the latest 1-minute mean sea level pressure, Statistics of (i) Standard Patent (Reregistration) Applications with Designated Patent Applications based on Patent Cooperation Treaty (PCT) applications; and (ii) Short-term Patent Applications based on PCT Applications, Statistics on Complaints Handled by Lump Sum Grant Independent Complaints Handling Committee, Statistics on Residential Care Services for the Elderly, Statistics on Standardised Care Need Assessment Mechanism for Elderly Services, https://data.gov.hk/filestore/feeds/data_rss_en.xml. Resources; Latest News in Hong Kong. How did the SFC get itself into this situation? Prior to joining Sidley, Shu Min practiced at a magic circle firm in the UK. But it also tacked on a clause that took the industry by surprise and has led hedge funds, prime brokers, private-equity firms and high-frequency trading shops to review their Hong Kong businesses. The circular marks the first time that Hong Kong has stipulated how banks should store information. Only two jurisdictions impose data localization requirements: Kazakhstan's privacy law requires companies to store their data locally and China's Cybersecurity Law requires operators of critical infrastructure to store within China both personal information and "important data" collected and produced in the course of their business operations. Cloud vendors are also coming up with more commoditized services that, over time, will be easier to adapt to such regulations, even on behalf of smaller users. For insight into handling children's personal data in Australia, China, India, and Japan, please see part one here. It means vendors must change their business models in order to comply.. Search Jobs ; News & Advice ; Companies . Topic: Data localization - trends and considerations from a cybersecurity perspective: Speaker: Alvin Li. In our Global Data department, we're responsible for on-boarding, analyzing, applying, and supplying it so our clients can make informed decisions from a . The rules, published in an October circular and effective from June 2020, require banks and other regulated groups to store data locally or ensure their cloud provider guarantees to hand over information on request to Hong Kongs Securities and Futures Commission (SFC) without notifying their client. According Article 37 of the Law, all personal information and other key data produced and gathered by CII operators (and now also network operators) must be stored in servers located in mainland China. Under the "one country, two systems" approach, Hong Kong is an entirely separate jurisdiction from Mainland China and has its own privacy and cybersecurity laws. Bloomberg or Symphony) would have to agree to submit to any SFC requests on client data, without notifying the client first. Statistics on Elder Abuse Cases, New Identification of a PTEN mutation with reduced protein stability, phosphatase activity, and nuclear localization in Hong Kong patients with autistic features, neurodevelopmental delays, and macrocephaly . Data localization is the practice of storing and processing data in the same country where you originally collected it. Approved Student Number Targets (Full-time equivalent) of UGC-funded Programmes by University and Level of Study, New Localize and transcreate your content. Hong Kong is a bi-literate and trilingual city where 88.9% of people speak Cantonese daily.The second popular language is English (4.3%), followed by Other Chinese dialects (3.1% ), Mandarin / Putonghua (1.9%), and other languages (1.9%). The data user has taken all reasonable precautions and exercised all due diligence to ensure that the data will not, in that place, be collected, held, processed, or used in any manner which, if that place were Hong Kong, would be a contravention of a requirement under the Ordinance. This page is updated on the day that the data are released. Queue Associates Worldwide China, Ltd., based in the Causeway Bay section of Hong Kong, supports Microsoft Dynamics 365 and other platform . Singapore and the United States said in a joint statement last month that they oppose generally applicable data localization requirements as long as financial regulators have access to data needed for regulatory and supervisory purposes. Average Annual Salaries of Graduates of Full-time UGC-funded programmes who were in Full-time Employment by Level of Study and Broad Academic Programme Category, New senior executives who can be arrested if the SFC suspects data has been destroyed or altered. Certain regulations require this, including the EU General Data Protection Regulation (GDPR), Brazil's General Data Protection Law (LGPD), and several others (E.g. 2022-09-30 13:35 1605 HONG KONG, Sept. 30, 2022 /PRNewswire/ -- Milbank LLP, which has practiced in Hong Kong for many years as a registered foreign law firm providing advice on English and New York laws, is pleased to announce that it has localized its practice into a Hong Kong law firm. Despite Hong Kong's pioneering role in data privacy legislation, the PCPD's level of activity with respect to regulatory guidance and enforcement has been relatively flat when . But handing over data to the SFC could mean breaching other governments confidentiality requirements, such as the European Union that has strict data protection rules, global cloud providers say. Major cloud vendors declinedDigFins request for comment. Right not to be subject to automated decision-making, China: CAC issues statement on investigating and sanctioning apps, France: Decree on processing whistleblowing reports published in Official Gazette, Ireland: Minister signs into law Protected Disclosures (Amendment) Act 2022, Netherlands: Council of State advises on latest amendments to whistleblowing bill, California: Governor approves bill on vehicle identification and registration through alternative devices. This might not mean all data and always. In one of the more animated discussions here at the International Conference of Data Protection and Privacy Commissioners in Hong Kong, a diverse panel of privacy professionals, policymakers and former regulators debated the future of global data localization law. San Francisco. The data on the coronavirus pandemic is updated daily. Legitimate interests of the data controller, 8.7. First, data held with vendors is encrypted, so an AWS, Google or Microsoft wouldnt know where the specific data requested by SFC would sit. Every 10 Minutes. HONG KONG, March 11 (Reuters) - Hong Kong is considering softening new data storage rules, amid concerns of conflict with confidentiality laws elsewhere as authorities globally look to balance regulatory requirements, companies needs and privacy concerns, two people said. For example, Hong Kong does not require data localization, unlike the PRC's code that requires data localization and takes a restrictive and pro-government view about the flow of. Statistics on Foster Care Service, New Hong Kong: Coronavirus Pandemic Country Profile. Table E485 : Hong Kong Domestic Household Projections [Bilingual (Traditional Chinese and English)] XLS. In recent years, the Vietnamese government has attempted to follow global best practices in regulating data. New "I was delighted to make use of Pangeanic's SMT developments with TAUS TDA Data and their customization to our publishing needs." . DLA Piper Intelligence brings together knowledge sites that answer legal questions from our clients around the globe. Joint Financial Intelligence Unit Statistics, New And the fallout risks moving Hong Kong out of the category of jurisdictions in which data can confidently move and be stored across borders. Chinese, Hong Kong, commonly referred to as Cantonese, is the variant of the Chinese language spoken in the Hong Kong Special Administrative Region. Date of last update: 11 Oct 2022. Click here for trending data centers in Hong Kong. She also advises clients on data privacy, cybersecurity, bribery and money laundering issues. The dataset provides information on Foster Care Service by number of Foster Homes and by number of Foster Children in Placement, Information on residential care services by type of homes, number of homes, number of places, Number of Referrals Received for Assessment and Number of Assessments Completed. This includes having institutions (in regulatory parlance, licensed corporations) appoint managers in charge, i.e. In fact, it seems intended to affirm Hong Kong as a place where financial institutions can place data with overseas cloud vendors, data storage centers, and messaging platforms. Hong Kong Population 2022 (Live) 7,488,865. China, Russia, and India). To be clear, the SFC circular of October 31, Use of external electronic data storage, does not explicitly obstruct this. China's Data Security Law was published on June 10, 2021, and will be formally effective starting September 1, 2021. In this age of technology, it is often said that the most valuable resource is no longer oil or gas but data. It has used search warrants 14 times between April and December 2019, according to law firm Freshfields calculations. 33. It's different from data sovereignty but both of them are a reflection of cloud adoption readiness. This webinar explores what is new in the draft CPRA regulations and the ADPPA, as well as the key considerations for companies. Take control of your APIs across any environment. She also advises clients on data privacy, cybersecurity, bribery and money laundering issues. In Hong Kongs case, a determination by the Securities and Futures Commission to apply the same laws and standards equally among global firms and small domestic operators appears to have collided with its desire to supervise how financial institutions store and treat data. The following table provides the list of all countries/regions where Dynamics 365 Business Central is available or in planning for future availability. Provides an overview of the key privacy and data protection laws and regulations across the globe. Hong Kong Chung Data Center is built according to world-class standards, with 24 x 7 x 365 operations by a team of professionals. Australia: Tel . Hong Kong issued significant new amendments to the PDPO in 2012 with a key focus on direct marketing regulation and enforcement with respect to the use of personal data. That doesn't mean, however, that companies based in Hong Kong won't be subject to . Search Localization jobs in Hong Kong with company ratings & salaries. Data localization requirements are increasing around the world, presenting data-intensive businesses with a difficult choice: Establishing IT infrastructure in countries with data localization requirements in effect, or forego processing and transfer of their citizens' personal information, thereby making business operations in those countries practically impossible. Search Localization manager jobs in Hong Kong with company ratings & salaries. The goal of these laws is to move data away from the geographically unbordered world of cyberspace, and plant data directly under local jurisdictions ( Kong, 2010 ). Mainland China and India already have strict rules about storing data onshore. See here for a complete list of exchanges and delays. It is unclear what specific steps the SFC will take to ease the rules, the people with knowledge of the matter said. Create a new company DB in Hong Kong Localization. . From simple server colocation to tailor-made managed services, we offer complete one-stop solutions. 2 China's recently published Data Security Law . It eliminates manual/double data entry to the Golden Tax System. Data localization laws are mostly applied to creating and storing personal information. The regulator has in recent years taken a more aggressive stance against market misconduct after a series of wild price swings in Hong Kongs markets. Kowloon Peninsula (Batch 1), New Provide regional weather in Hong Kong - the maximum and minimum air temperature from 1-minute mean temperatures since midnight (the data provided is provisional) This link will open in a new window. Laurence Van Der Loo, director for operations and technology at ASIFMA, says this raises three problems. Manager-in-charge solutions work well for big firms but the SFC lacked confidence it would suffice in all cases, and it wasnt about to risk data destruction or tampering. Our Standards: The Thomson Reuters Trust Principles. Prior to joining Sidley, Shu Min practiced at a magic circle firm in the UK. Survey of Drug Use among Students, New Joint Financial Intelligence Unit Statistics. Can Singapore virtual banks actually make money? Provide half-hourly gridded rainfall nowcast data in Hong Kong up to the next two hours, Data on daily total rainfall (Please visit the reference link for other climate information), Data on daily mean relative humidity (Please visit the reference link for other climate information), Provide South China Coastal Waters bulletin, Provide regional weather in Hong Kong - past 24-hour temperature difference (the data provided is provisional), Provide information on Hong Kong Observatory resource centre, Provide information on the network of weather stations in Hong Kong, Provide 9-day weather forecast of Hong Kong, Provide current weather report of Hong Kong, Provide local weather forecast for today and/or tomorrow, Provide detailed information of weather warning(s) in force, Provide a summary of the weather warning(s) in force in Hong Kong, Provide special weather tips in force in Hong Kong, Provide information on earthquakes of magnitude 6.0 or above worldwide, as analyzed by the Hong Kong Observatory, Provide reports on earth tremors felt in Hong Kong, Data on daily maximum, mean and minimum temperatures (Please visit the reference link for other climate information), Provide regional weather in Hong Kong - latest 10-minute mean visibility (the data provided is provisional), Provide cloud-to-ground and cloud-to-cloud lightning count over Hong Kong territory in the past hour (the data provided is provisional), Provide tropical cyclone track information, Provide times of sunrise, sun transit, sunset, Provide times of moonrise, moon transit, moonset, Provide predicted tidal information (Hourly heights of astronomical tides), Provide predicted tidal information (Times and heights of astronomical high and low tides). For example, China's Cybersecurity law is an excellent example of data localization. The practical consequences of the circular are that it will be difficult, and much more expensive, for Hong Kong entities licensed by the SFC to store data with third party cloud providers, said Carolyn Bigg, a partner at law firm DLA Piper. This is a reasonable demand, and industry bodies such as the Alternative Investment Management Association and the Asia Securities Industry & Financial Markets Association (ASIFMA) argued for procedures as found in other leading financial centers. Data localization regulations require that data be stored and processed on computers in a particular place, usually within a country's borders, as opposed to letting them flow freely through data centers around the world. 2.5. Signup for a trial to access unlimited content. Statistics on Residential Care Services for the Elderly, New You're all set to get top regulatory news updates sent directly to your inbox, You will receive an activation email shortly with verification instructions, This site is protected by reCAPTCHA and the Google. The materials herein are for informational purposes only and do not constitute legal advice. In part two of this series, OneTrust DataGuidance considers the rules in the APAC region which govern children's personal data, featuring perspectives from New Zealand, the Philippines, and Singapore. Approved projects under Public Sector Trial Scheme - Special Call for Projects for the Prevention and Control of Coronavirus Disease 2019 (COVID-19) in Hong Kong (PSTS-COVID-19), New Please click here for the, Regional weather in Hong Kong - past 24-hour temperature difference, Daily maximum, mean and minimum temperatures, Regional weather in Hong Kong the latest 10-minute mean visibility, Lightning count over Hong Kong territory in the past hour, Predicted tidal information (Hourly heights of astronomical tides), Predicted tidal information (Times and heights of astronomical high and low tides), Smart lampposts real-time experimental meteorological data (Post quality checks), Latest 15-minute mean UV index from 7:00 a.m. to 6:00 p.m. Hong Kong time, Regional weather in Hong Kong the maximum and minimum air temperature from 1-minute mean temperatures since midnight, Regional weather in Hong Kong the latest 1-minute mean air temperature, Regional weather in Hong Kong the latest 1-minute mean relative humidity, Regional weather in Hong Kong the latest 10-minute mean wind direction and wind speed and maximum gust, Regional weather in Hong Kong the latest 1-minute mean sea level pressure, Regional weather in Hong Kong the latest 1-minute global solar radiation and direct solar radiation and diffuse radiation, Regional weather in Hong Kong the latest 1-minute mean grass temperature from 5:00 p.m. to 8:00 a.m. the following date Hong Kong time. Hong Kong Toll Free: +852 2157 3950. info@pangeanic.com. Follow Law.asia. Get colocation pricing now! Neither sources wanted to be named as the negotiations are private. There's another demand that European governments and repressive regimes alike are making and, in the long. Copyright 2020 Digital Finance Media Limited. Share Mail Tweet Linkedin Print Whatsapp. Traffic data from Traffic Data Analytics System, New Visitor Centres in Geoparks. Arpana Krishnan explains. The SFCs hands are also tied: it has to carry out the Securities and Futures Ordinance, whose section 130 covers recordkeeping by licensed corporations. The 2022 Guidance is split into three "parts": Part 1 is an introduction of the 2022 Guidance and the rationale underpinning it; the missing link in blockchain applications Things to Consider for the Localization and Translation of Your Business in Portuguese What is NLG and how does it work with the Natural Language . The practice has a dedicated IT team that is experienced in providing cost-effective solutions for traditional IT infrastructure, Cloud computing applications, and enterprise resource planning (ERP) systems. 28Hse provides information for the Hong Kong property market, including latest property listings by agents and landlords, property transaction data etc. Subsequent convictions can result in a maximum fine of HK$100,000 with a daily penalty of HK$2,000 if the offence continues after conviction. Third, market participants may decide not to comply. In which case, they may not serve customers based in Hong Kong. How we communicate in daily life: Hong Kong culture is unique mixture of Chinese, British and Western culture in general. Barbecue Sites in Country Parks, New The coordinates transformation between multiple sensors, and intrinsic measurements of camera can be found via Extrinsic Parameters, IMU Nosie and Intrinsic Parameters of Camera. Shu Min Ho represents clients in complex, multi-jurisdictional investigations and commercial disputes across a broad range of sectors. Table E301 : Working population by monthly income from main employment (at current and constant (June 2016) prices), 2006, 2011 and 2016 [Bilingual (Traditional Chinese and English)] XLS. (The SFC declinedDigFins request to comment.). The data shown in this page correspond to the data described on the International Monetary Fund's Dissemination Standards Bulletin Board (DSBB). February 2022. Hong Kong moves to revive retail crypto business, SFC sounds warning over digital client onboarding, Applied A.I. As we've written about in previous posts, data localization laws are a global trend, . a) data localization / data residency laws that mandate retention of personal data or a copy thereof in the local jurisdiction (include whether copies or the original data may be also be stored outside of the jurisdiction): . The language of the law, passed in 2002, mandates the SFC to get its hands on institutions data when required, but didnt foresee digital developments. One critical aspect of these new legislative attempts has to do with Vietnam's data localization requirements. Ground Investigation (GI) and Laboratory Test (LT) Records, New Shu Min is fluent in English and Mandarin. The uneasy status quo for a number of years has been one of concern that China would introduce broad based data localization. Main powers, duties and responsibilities, 5.6. Google is dominating the search engine market in Hong Kong. It consists of Hong Kong Island, originally ceded by China . The summary results of the Second Hong Kong Population-based Food Consumption Survey (2018-2020) on consumption of food groups, food subgroups and food frequency questionnaire items, Information on accumulative number of Senior Citizen Cards being issued, Approved projects under Public Sector Trial Scheme - Special Call for Projects for the Prevention and Control of Coronavirus Disease 2019 (COVID-19) in Hong Kong (PSTS-COVID-19), Statistics on approved student number targets of UGC-funded programmes, Statistics on average annual salaries of graduates of full-time UGC-funded programmes who were in Full-time Employment, Boundary of Scheduled and Designated Areas, Curriculum Content and Syllabus of Instrumental Music Training Scheme, Data on daily mean wind speed (Please visit the reference link for other climate information), Data on daily prevailing wind direction (Please visit the reference link for other climate information), Enhanced Natural Terrain Landslide Inventory, Fire Protection and Prevention Indicators (Provisional Figures), General Figures of Disciplined Officer and Civilian Officers. Local storage also means international players must separate Hong Kong-specific data, which is difficult. Or they wont be able to get big vendors to agree [to the undertaking]. The industry is going to be pragmatic., I dont see anyone signing up with the SFC in perpetuity. Philippa Allen, CEO of ComplianceAsia, a consultancy, said, A vendor may have some servers [in Hong Kong], but the data is not here its distributed across global backups and global relays. Technology jobs available with eFinancialCareers. We speak Cantonese with some English together. Nandan Nilekani explains, What is 5G for fintech? Regional Weather in Hong Kong - the latest 1-minute global solar radiation and direct solar radiation and diffuse radiation, New There are ten carrier neutral data centers in Hong Kong. Moovit is the #1 local transport app in the world trusted by over 140 million users across more than 2000 cities in 44 languages. Data localization laws require you to locally store data - either in a particular country or in a local computing environment rather than in the cloud. The images for download are geo-referenced to the local coordinate system in Hong Kong 1980 Grid. Abstract. In effect this is data localisation by the back door.. ), What is the India Stack? Key acts, regulations, directives, bills, 3. Data Localization laws can be broadly classified under "Data Sovereignty". DataProtection Authority| RegulatoryAuthority, 3.2. To transfer data outside of the country, including to Hong Kong, Macau, and Taiwan, operators must receive government permission and undergo a . Professional Development Committee, ISACA China Hong Kong Chapter (Technology risk and cybersecurity professional) Alvin is a seasoned technology risk and cybersecurity professional. Average traffic speed and total journey time of driving route based on traffic data from Traffic Data Analytics System. Kong Enterprise is the fastest, most feature-advanced, and secure API management solution built on Kong Gateway the world's most adopted API gateway.
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