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The Cybercrime Prevention Act of 2012 was recently enacted in the Philippines in line with the State's recognition of the vital role of information and communications industries in the nation's overall social and economic development and the need to protect and safeguard computer systems and networks from all forms of misuse, abuse and illegal access.

A new law which focuses on the processing of an individual's personal information was approved by the President of the Philippines on August 15 2012. The Data Privacy Act of 2012 (Republic Act No 10173, full title An Act Protecting Individual Personal Information in Information and Communications Systems in the Government and the Private Sector, Creating for this Purpose A National Privacy Commission, and for Other Purposes) took effect on September 8 2012. A violation of this law is a crime, and penalties imposed include fines and imprisonment (see Chapter VIII of the Act).

Bank of America's $726 million loan to the Brazilian state of Santa Catarina reflects a radical shift by Brazil's states toward major international lenders.

The nominees for IFLR’s 2013 Asia and Americas awards have been announced

The Basel Committee on Banking Supervision released its revised Liquidity Coverage Ratio (LCR) requirements on January 6. It included some significant changes, which were to be expected given that its original December 2009 initial framework document was the first time that an internationally applicable, quantitative regulatory requirement for liquidity had been proposed.

The Hong Kong Securities and Futures Commission's (SFC) sponsor regulations lack teeth without an independent audit regulator, according to Public Company Accounting Oversight Board (PCAOB) standing advisory group member and Peking University professor Paul Gillis.

The first Russian covered bond issuance to receive a rating higher than its issuer could prompt more use of the capital raising tool by the country's fragmented banking sector.

The US Securities and Exchange Commission's (SEC) 'Annual Report on the Dodd-Frank Whistleblower Program: Fiscal Year 2012' reveals a programme that is still grappling with many difficulties, lawyers have said.

The China/Canada investment landscape becomes more intertwined

Law firms throughout the US rang in the new year with a surge of lateral hires. In the always-bustling area of white collar criminal investigations and enforcement, CROWELL & MORING's New York office welcomed former senior assistant US attorney for the southern district of New York, Glen G McGorty. GREENBERG TRAURIG gained former DLA Piper lawyer Carolyn F McNiven as a San Francisco-based shareholder with a concentration on white-collar defence matters. Former federal prosecutor Greg Deis rejoined MAYER BROWN in Chicago. He had served the firm for four years as an associate before becoming an assistant US attorney in the northern district of Illinois in 2007.