Paul D. McKenzie

Paul D. McKenzie

Morrison & Foerster LLP

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A Brave New World? Recent Challenges Facing Foreign IT Companies in China

On September 1, 2014, China’s Ministry of Industry and Information Technology (MIIT) issued the Guiding Opinions on Strengthening Network Security in the Telecommunications and Internet Sectors (the “Opinions”). Issuance of...more

9/17/2014 - China Internet Tech Industry Telecommunications

New NDRC Rules Set to Facilitate China Outbound Investments

As we reported in our February 18, 2014 alert, China’s State Council adopted a new, more permissive approach to regulation of overseas direct investment (“ODI”) with the promulgation on December 2, 2013 of the Circular...more

4/25/2014 - China Foreign Investment NDRC New Regulations

MIIT and Shanghai Government Confirm Telecoms Market Opening in China (Shanghai) Pilot Free Trade Zone

Following issuance over the last several months of more general policy statements promising liberalized foreign investment rules applicable to the telecommunications sector within the China (Shanghai) Pilot Free Trade Zone...more

1/9/2014 - China Free Trade Zone Telecommunications

Managing Offshore Holding Companies from China: Recent Case May Suggest Increased Tax Risk

As our readers know, foreign investments into the People’s Republic of China (“PRC”) are typically structured through one or more holding companies domiciled in offshore jurisdictions. Planned and implemented properly, an...more

10/29/2013 - Bank Holding Company China Foreign Investment Offshore Funds

Breakthrough Reform? Shanghai’s New Free Trade Zone

China officially launched the China (Shanghai) Pilot Free Trade Zone (the “SHFTZ”) on September 29, 2013 and on the same day published a long-awaited and longer-than-expected “negative list” setting forth industry sectors...more

10/14/2013 - China Filing Requirements Foreign Investment Free Trade Zone Notice Requirements

A New Era of Canadian Anti-Corruption Enforcement?

This year has been a watershed in terms of Canada’s enforcement of its Corruption of Foreign Public Officials Act (“CFPOA”): • In January 2013, a record fine of CAD 10.35 million (USD 10.27 million) was imposed on...more

8/21/2013 - Anti-Corruption Bribery Canada Compliance Enforcement Self-Reporting

China VIEs: Recent Developments and Observations

As many of our readers are aware, the “variable interest entity” (“VIE”) structure has proven popular over the past decade as a means to facilitate the offshore financing of PRC companies doing business in regulated sectors...more

8/15/2013 - China Financing Internet Telecommunications Variable Interest Entities

China’s MIIT Releases Long-Awaited Draft Amended Telecoms Catalogue for Public Comment

The Chinese Ministry of Industry and Information Technology (“MIIT”) issued a draft new Catalogue of Telecommunications Services 2013); the “Draft Catalogue”) for public comment on May 23, 2013. While the proposed...more

6/13/2013 - China Internet MIIT Provisions Telecommunications

Chinese Ministry of Industry and Information Technology Issues Draft Provisions Governing Protection of Personal Information

As we reported in our client alert on January 23, 2013, the Standing Committee of the National People’s Congress issued a Decision on Reinforcing the Protection of Network Information on December 28, 2012. To implement this...more

4/25/2013 - China Data Protection Penalties Personally Identifiable Information

Privacy Changes Coming to China

Originally published in Privacy & Security Law on 03/18/2013. There is continued focus in China on privacy and data security issues. China still has no omnibus law, but it has promulgated some sector-specific...more

3/28/2013 - Audits China Credit Reporting Agencies Cross-Border Data Breach Data Protection Notice Requirements Personally Identifiable Information

China Real Estate Update

China property prices have continued to trend upward despite the government’s previous efforts to cool the real estate market. Such efforts include, among others, limiting the number of residential properties that a household...more

3/22/2013 - Affordable Housing China FIRREA Housing Market Income Taxes Profits

Financial Services Report - Spring 2013

Editor’s Note - This is a dignified law firm newsletter, not like the “Brand X” versions. You won’t find pandering, attention-grabbing stories about Justin Bieber, Kim Kardashian, Ashton Kutcher, Prince William, or...more

3/13/2013 - Arbitration Barack Obama CFPB China Credit Reports Cybersecurity Data Protection Debt Collection Dodd-Frank Dukes v Wal-Mart FDCPA FDIA FDIC Federal Reserve FHA Foreclosure FTC Mobile Apps Recess Appointments Richard Cordray Social Media Telemarketing

China’s Legislature Weighs in on Online Data Privacy; Other Recent Privacy Developments in China

On December 28, 2012, the Standing Committee of the National People’s Congress (“NPC”), China’s legislature, weighed in on the subject of data privacy with its promulgation of the Decision on Reinforcing the Protection of...more

1/23/2013 - China Compliance Data Protection Penalties

China’s Supreme Court Ruling in Haifu v. Shiheng Changes the Landscape for Value Adjustment Mechanisms in Onshore Private Equity...

The Supreme People’s Court of China (the “Supreme Court”) rendered its final judgment on November 7, 2012, in the Haifu Investment Co., Ltd. v. Gansu Shiheng Nonferrous Resources Recycle Company Limited (“Haifu v. Shiheng”)....more

1/21/2013 - China Foreign Investment Private Equity Shareholders Value Adjustment Mechanisms

SAFE Liberalizes Foreign Exchange Rules … Or Not? -- Two recent circulars from China's foreign exchange regulator represent a...

Is the State Administration of Foreign Exchange (“SAFE”) finally loosening its grip on foreign exchange transactions? Not exactly - the baseline principle of control and scrutiny over the flows of money into and out of China...more

12/21/2012 - China Foreign Exchanges SAFE Securities

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