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Avoiding legal and regulatory pitfalls in digital transformation projects
This article first appeared in the September 2024 issue of Financier Worldwide.
Asia | Publication | August 2024
This article first appeared in the September 2024 issue of Financier Worldwide.
Digital transformation projects are prevalent across the globe. According to Statista, worldwide spending on digital transformation technologies and services is projected to reach $2.49 trillion in 2024 and $3.9 trillion by 2027. Most companies are replacing legacy systems and have embraced cloud technologies. The use of generative artificial intelligence (GenAI) solutions, while not as widespread presently, is rising rapidly.
We are seeing numerous cutting-edge transactions involving digital transformation. These projects bring enormous benefits to companies, including improved staff and customer satisfaction, increased operational efficiency, the ability to aggregate and analyse data, and the development of new products and services. At the same time, we have seen an assortment of legal and regulatory issues that frequently arise in these projects. These may range from minor issues that can be settled over a phone call to high-priority matters that can prevent a project from getting off the ground or delivery being disrupted or delayed. In this article, we consider some of the pitfalls that lie in wait for the unwary.
Publication
This article first appeared in the September 2024 issue of Financier Worldwide.
Publication
The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
Publication
On 26 July 2024, the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) jointly released revised rules in respect of the investments into China’s financial market through the Qualified Foreign Institutional Investor and Renminbi Qualified Foreign Institutional Investor (collectively, QFII) regime (the New Rules).
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