2014 International Trade Compliance Webinar Series

Transcription

1 2014 International Trade Compliance Webinar Series Global Trade and the Global Supply Chain: Key Issues for 2014 Free Trade Agreements: CETA, TTIP, TPP, ASEAN and RCEP Tuesday, June 17,

2 Speakers Moderator/Speakers Brian Cacic Toronto Brian Cacic focuses his practice primarily on the area of Canadian customs, trade sanctions, and export controls. He has worked on numerous customs issues, including customs valuation, tariff classification, rules of origin, marking, remissions and drawbacks, anti-dumping and subsidies. He has also advised clients on the application of Canadian export controls to dual-use items, particularly items containing cryptography, as well as nuclear devices and materials, military goods, and missile control and avionics equipment. He has also advised extensively on the application of Canadian trade sanctions to business activities involving Iran, Syria, and Libya. In addition, Mr. Cacic advises on Canadian commodity tax issues and regulatory compliance issues in the areas of food and drugs, telecommunications and radio communications, and environmental product stewardship. Frederick R. Burke has over 20 years experience practicing in the area of corporate law. He served as the Practice Group Leader of the Firm s Global WTO & International Trade Practice Group from 2006 to 2007, and has been ranked by Chambers Global as a leading lawyer in both Corporate Mergers & Acquisitions and International Trade for three successive years. Mr. Burke has also been recommended in more categories than any other lawyer in Vietnam by PLC Which Laywer? in He is currently a member of the Prime Minister s Advisory Council on Administrative Reform in Vietnam. Frederick (Fred) R. Burke Speaker Ho Chi Minh City 3 2

3 Speakers (cont.) Yi Lin Seng s practice covers commercial and regulatory matters, with a focus on information technology, telecommunications, trade compliance and competition matters. Yi Lin also has experience in general intellectual property litigation and advisory work, as well as noncontentious intellectual property matters. Yi Lin has drafted, negotiated and reviewed numerous types of commercial agreements relating to technology and intellectual property, including software procurement, customization and implementation, licensing, outsourcing, maintenance and service level agreements. Yi Lin Seng Speaker Singapore Diane MacDonald is seasoned in various areas of international trade law. She is a member of the Illinois District Export Council, a panel of business leaders appointed by the US Secretary of Commerce to provide trade education and counseling to local companies. Ms. MacDonald is the author of " Antidumping Duties on Imported Goods: Resellers Beware " published in the California International Practitioner. Diane A. MacDonald Speaker Chicago 4 TPP Update and Interface with other FTAs 5 3

4 Australia, New Zealand, Singapore, United States, Peru, Chile, Vietnam, Brunei, Canada, Malaysia and Mexico. Latest and last: Japan (#12). 6 4

5 Background GDP of TPP-12 is $27.5 trillion, 40% of global output, $5.4 trillion in exports, 33% of global exports Formal Rounds done; Now Ministers talking at the Political Level as in HCMC, Singapore in June, Searching for Landing Zones Transparency, consultation and Stakeholder events USTR targeting Q signing What happens to those who can t reach agreement? Ratification process lengthy in some places. 7 Status US Japan : Source of Gridlock? Will frustration lead to Doha Syndrome? How many years to move sensitive tariffs to 0%? Autos, agricultural products Compare: Australia 18 years for beef under AU-JP FTA 8 5

6 Why so Hard? Background - ASEAN FTAs ASEAN FTAs traditionally focused on trade in goods Focus has since expanded to areas such as trade in services, investment protection, capital, skilled labour, intellectual property rights, competition 9 6

7 WTO Requirements The purpose of a customs union or of a free-trade area should be to facilitate trade between the constituent territories and not to raise barriers to the trade of other contracting parties with such territories. An FTA must result in the duties and other restrictive regulations of commerce (with certain permitted exceptions) being eliminated on substantially all the trade between the constituent territories in products originating in such territories. Trade Creation vs. Trade Diversion 10 What s in the TPP? 11 7

8 So what s in the TPP? Reference point: the parties existing trade and investment agreements (e.g., KORUS) Stakeholders input vital, but texts not public until agreement is final US was not among four TPP founders, any member can propose text, consolidated with brackets Mutuality of benefit among participants is necessary trade offs needed for success 12 Reference Point : KORUS FTA 1. Initial Provisions and Definitions 13. Financial Services 2. National Treatment and Market Access for 14. Telecommunications Goods 15. Electronic Commerce 3. Agriculture 16. Competition-Related Matters 4. Textiles and Apparel 17. Government Procurement 5. Pharmaceuticals and Medical Devices 18. Intellectual Property Rights 6. Rules of Origin and Origin Procedures 19. Labor 7. Customs/Regulatory Coherence 20. Environment 8. Sanitary and Phytosanitary Measures 21. Transparency 9. Technical Barriers to Trade 22. Institutional Provisions and 10. Trade Remedies Dispute Settlement 8

9 11. Investment 23. Exceptions 12. Cross Border Trade in Services 24. Final Provisions 13 TPP not the only game in town : Regional Comprehensive Economic Partnership ( RCEP ) ASEAN + 6 : Australia, China, India, Japan, New Zealand and South Korea More than 50% of global population 27 % of world s GDP 14 9

10 RCEP ASEAN + 6 (Australia, China, India, Japan, Korea, New Zealand) pursuing Regional Comprehensive Economic Partnership ( RCEP ). RCEP aims to broaden and deepen ASEAN + 1 pacts with the other 6 by end of 2015; like AEC. Why are ASEAN countries also interested in TPP? Bigger payoff from TPP reforms and concern about cost of nonparticipation in terms of trade and investment diversion. RCEP less ambitious, gives China the option to continue incremental reforms that would improve readiness to join more comprehensive regional pacts in the future. 15 Quantitative Assessment 16 10

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12 Global effects of the TPP Large global benefits Income up $223 billion (0.7 percent) Exports up $305 billion (4.6 percent) Imports up $315 billion (4.2 percent) FDI stocks up $255 billion (2.5 percent) Moderate trade diversion effects $67 billion of $290 billion gains (23 percent) Comparisons with other agreements Benefits bigger with RCEP (roughly 3x) Benefits much bigger with FTAAP (roughly 9x) Source: Petri, Plummer, Zhai, 18 Scenario assumptions Source: Petri, Plummer, Zhai,

13 Largest % income gains in TPP Source: Petri, Plummer, Zhai,

14 Why such large gains? More exports of manufactures (34%)* More imports of consumer and production goods (27%)* More inward FDI due to investor optimism Stronger links to international supply chains Productivity gains from competition Momentum for reforms boosting growth and opportunity * Source: Petri, Plummer, Zhai, 22 Major Variable Textiles & Garments Rules of Origin for Garments The Yarn Forward Rule and the Short Supply Compromise Textile Investment Opportunity? 23 14

15 RCEP v TPP TPP vs. RCEP : Membership 25 15

16 26 TPP or RCEP? ( in 2025, $billion) Source: Petri, Plummer, Zhai, but why not both? 27 16

17 ASEAN: AEC ASEAN Integration 17

18 What Matters to You? 30 TPP Selected Provisions of Interest Goods limits on remaining protection Duties eliminated or phased out Subject to safeguards, trade remedies (AD, CVD) Textiles and apparel - Rules of origin Services from Positive List to Negative List SOEs & Government procurement Protection of intellectual property rights (Cf. GIs in VNEU FTA) 31 18

19 Investment National treatment Most-favored-nation treatment (cf. with non-parties) Minimum standard of treatment In accordance with customary international law Including fair and equitable treatment, and Full protection and security Freedom of transfers of capital Performance requirements not allowed Limits on expropriation, required compensation Investor-State dispute settlement 32 Protection of Intellectual Property (IP) Baseline: adherence to all relevant international IP agreements National treatment Transparency - publish laws and rulings Update IP protection and enforcement to prevent unauthorized use of works through Internet and other global communication media Secure deterrent enforcement against piracy, counterfeiting, cyber squatting and other infringements through significant improvements in civil and criminal remedies and penalties Prohibit industrial policies that discriminate against foreign IP rights holders, including through use of local content requirements Protect unregistered well-known trademarks in use with dissimilar goods and services; allow owners to oppose the registration or seek cancellation of marks that are identical or similar

20 Government Procurement Supplements WTO Government Procurement Agreement (GPA) Applies to procurement for governmental services Of goods, services, including leases By a covered entity for non-excluded goods Above thresholds: contract for procurement of goods and services >US$[58,550]; construction services >[US$6,725,000] (Australia/U.S.FTA) Limits on conditions that can be imposed With respect to capacity, history, terms for bids But procuring entity may take into account conservation of natural resources rights at work, and conditions of work 34 What s New about TPP? 35 20

21 New Areas the 21 st Century FTA Environment Labor Regulatory coherence Cross border data flows State-owned enterprises engaged in commercial competition 36 Regulatory Coherence - Concept Trade and investment can be impeded not just because a measure is intentionally a nontariff barrier but simply because the systems that generate measures differ. Businesses seek improvement of regulation within borders, greater procedural fairness and transparency 37 21

22 Regulatory Coherence - Guidelines Have a process or mechanism to facilitate central coordination and review of new regulatory measures at the central level of government Consider establishing and maintaining a national coordinating body for this purpose, and collect information centrally, and disseminate it 38 Cross Border Data Flows -- Rules Permit cross-border information and data flows, while ensuring that privacy and intellectual property rights are protected Allow business enterprises from the TPP parties to transact business through e-commerce platforms without establishing a commercial presence in each country Prohibit requirements to use local computing infrastructure, such as servers, as a condition for doing business or investment in a TPP country or engaging in e-commerce or cross-border trade

23 State-Owned Enterprises (SOEs) - Concept Limitation: trade agreements cannot dictate the organization of an economy whether commercial activities are to be wholly private or a mixture of private and SOE activity. Objective: To create and maintain a level playing field as between SOEs and private companies when engaged in commercial competition Obligations: To govern only conduct where there is competition with private companies

24 State-Owned Enterprises (SOEs) - Rules Require FTA signatories to ensure that their SOEs Comply with the signatories non-discriminatory treatment obligation Act in accordance with commercial considerations when buying or selling goods and services Respect intellectual property laws, and anti-bribery rules Are regulated as rigorously as the private firms with which they compete Do not receive preferential financing. 41 Investment The Investment Law, Enterprise Law and the Services Schedule as Positive List TPP Approach Negative List ICSID Mandatory ICSID Jurisdiction Voluntary 24

25 Services: e.g., Retail WTO Market Access Limit to One Foreign Owned Retail Shop, then: Further shops each subject to an Economic Needs Test (normally banned by the General Agreement on Trade in Services). Three factors: (1) Number of existing service establishments in the geographic area, (2) stability of the market, and (3) geographic scope. 25

26 Conclusions Conclusions The TPP is nearing the finish line. What s at Stake? Immediate «bump» to GDP sustain long-term growth set standards for future trade and investment converges with AEC, RCEP, EU-FTA, etc. Will pressure to reach agreement lead to last minute compromises? on duties, ROO (yarn forward vs. short supply)? on market access for services? Will poltical opponents block passage? - e.g., Trade Promotion Authority? 45 Regional Comprehensive 26

27 Economic Partnership (RCEP) Overview Background and history of RCEP Objectives of RCEP Current implementation status of RCEP Challenges for RCEP negotiations Comparing RCEP with the Trans-Pacific Partnership ( TPP ) Singapore s perspective on RCEP Conclusion 2014 Baker & McKenzie.Wong & Leow 47 Background and history of RCEP 27

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29 Background and history of RCEP Seeks to be the largest free-trade bloc in the world ASEAN-led trade agreement linking the economies of 16 Asia-Pacific countries with its FTA partners Attempt at the reconciliation of two existing regional trade architecture Open accession scheme that would other members to join as long as they agree to comply with the grouping s rules and guidelines Highlights ASEAN s central role in the emerging regional economic architecture 2014 Baker & McKenzie.Wong & Leow 50 Objectives of RCEP 29

30 Objectives of RCEP Negotiations are based on Guiding Principles and Objectives for Negotiating the Regional Comprehensive Economic Partnership ( Guiding Principles ) Seeks to achieve a modern, comprehensive, high-quality and mutually beneficial economic partnership agreement among ASEAN countries and the six FTA partners Expected to tackle trade in goods, trade in services, investment, economic and technical cooperation, intellectual property ( IP ), competition policy and dispute settlement 2014 Baker & McKenzie.Wong & Leow 52 Objectives of RCEP Contains numerous flexibility caveats Protects sensitive industries from exposure to enhance competition Greater access to burgeoning domestic markets by export-driven economies Investments from more-developed countries to less-developed countries Regional economic integration 2014 Baker & McKenzie.Wong & Leow 53 30

31 Current implementation status of RCEP Current implementation status of RCEP 4 rounds of discussions to date First round: 9 13 May 2013 in Bandar Seri Begawan, Brunei Second round: September 2013 in Brisbane, Australia Third round: January 2014 in Kuala Lumpur, Malaysia Fourth round: 31 March 4 April 2014 in Nanning, China Fifth round: To be held on June 2014 in Singapore After completion of negotiations, countries other than the sixteen participating countries (ten ASEAN countries and six ASEAN FTA partners) may join RCEP, e.g. Taiwan has expressed an interest in joining RCEP 2014 Baker & McKenzie.Wong & Leow 55 Challenges for RCEP negotiations 31

32 Challenges for RCEP negotiations RCEP is the first of its kind and has no precedence to emulate 1. Managing different relational dynamics among 16 countries 2. Differences in development stages 3. Existing five FTAs between ASEAN and the FTA partners vary considerably from each other 4. Policymakers perceive RCEP as a means for consolidating the current FTAs 5. RCEP has yet to garner vital domestic support (i.e. governments may encounter opposition in their own countries) 6. RCEP members are also participating in other regional integration agendas, e.g. TPP, bilateral arrangements with the European Union, etc Baker & McKenzie.Wong & Leow 57 Comparing RCEP with TPP 32

33 Comparing RCEP with TPP TPP Includes the United States and seeks to link Pacific countries in the Americas and the Asia Pacific Original signatories were Brunei, Chile, Singapore and New Zealand, Negotiations have expanded to include the United States, Australia, Peru, Vietnam, Malaysia, Mexico and Canada Competing camps? TPP favoured by the United States and RCEP by China 2014 Baker & McKenzie.Wong & Leow 59 Comparing RCEP with TPP TPP requires much deeper economic liberalisation from its members TPP is not expected to allow participating countries to press for carveouts for sensitive industries Arguably, TPP s high standards dissuade developing countries from joining the grouping Nonetheless, RCEP does not preclude members from joining other trade agreements (including TPP) Are TPP and RCEP competing for attention in Asia? Complementary or conflicting? 2014 Baker & McKenzie.Wong & Leow 60 Singapore s perspective on 33

34 RCEP Singapore s perspective on RCEP RCEP participating countries Total bilateral trade in 2011 (S$ billions) Trade ranking in 2011 ASEAN Australia China India Japan South Korea New Zealand Baker & McKenzie.Wong & Leow 62 34

35 Singapore s perspective on RCEP Strong proponent of free trade RCEP can complement existing FTAs Strengthen the fourth pillar of the AEC Blueprint: committing ASEAN to be a region fully integrated into the global economy RCEP: Provision to facilitate trade and investment Enhance transparency in trade and investment relations between participating countries Facilitate participating countries engagement in global and regional supply chains Integration of production processes across the region and simplify the different rules or origin provisions Trade facilitation measures to lower import costs and inputs and reduce overall costs for Singapore companies 2014 Baker & McKenzie.Wong & Leow 63 Conclusion Conclusion Creation of a new Asia-Pacific Free Trade Agreement ( FTAAP )? Possible if it is endorsed by the big powers like the United States, Japan and China Criticisms that FTAAP will never happen because of political conflicts Current uncertainties: Which of the two tracks will help to shape the future regional / global trading architecture Consolidation in the long-run? 2014 Baker & McKenzie.Wong & Leow 65 35

36 Canada 36

37 Canada - European Union Comprehensive Economic and Trade Agreement (CETA) Canada's most important trade initiative since NAFTA s signing Negotiations commenced in October 2009 Most transparent and collaborative trade negotiation conducted to date, consulting with key stakeholders in various industry sectors Agreement in principle signed on October 18, 2013 Must be ratified by Canada s provinces and EU s member states Not expected to be implemented until at least CETA Affects a wide range of topics including agricultural and non-agricultural goods services and investment government procurement intellectual property dispute settlement and mechanisms promoting cooperation sustainable development, environment and labour EU-Canada study estimates CETA will increase EU s annual GDP by over $18.6 billion and over $13.1 billion for Canada 68 37

38 CETA CETA eliminates all duties on all non-agricultural goods 98% EU and 98.4% Canada tariff lines duty free on coming into force 100% for both countries 7 years after entry into force 93.6% of EU agricultural tariff lines set at 0% at entry into force; 92.0% for Canada certain tariffs will remain at the end of the 7-year transition period 69 Trade Liberalization Canada Free Trade Agreements In Force: North American Free Trade Agreement (Mexico, US), Peru, European Free Trade Association countries (Iceland, Liechtenstein, Norway and Switzerland), Costa Rica, Chile, Israel, Colombia, Jordan, Panama (April 1, 2013) Signed: Honduras (November 5, 2013) Concluded: Korea (March 11, 2014) 70 38

39 Trade Liberalization Negotiations continuing with Andean Community Countries, CARICOM (14 countries), Guatemala, Nicaragua and El Salvador (formerly Central America Four), Dominican Republic, European Union (CETA), India, Israel Free Trade Agreement Modernization, Japan, Morocco, Singapore, Trans-Pacific Partnership Negotiations, Ukraine, Negotiations to Modernize the Canada-Costa Rica Free Trade Agreement Exploratory discussions with: Turkey, Thailand, MERCOSUR (Argentina, Brazil, Paraguay, Uruguay) 71 Trans-Pacific Partnership 39

40 Trans-Pacific Partnership US has joined negotiations with 11 other countries Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam US wants high-standard agreement beyond WTO, other trade agreements USTR Froman: TPP is a chance to reach a new, higher plane. 73 Trans-Pacific Partnership USTR: TPP will provide: new market access for Made-in-America goods and services strong and enforceable labor standards and environmental commitments groundbreaking new rules on state-owned enterprises a robust and balanced intellectual property rights framework and a thriving digital economy 74 40

41 Trans-Pacific Partnership Contentious issue: 75 Investor-State Dispute Settlement provisions: foreign investors may sue host governments in third-party arbitration tribunals claims that host government law or measure fails to meet certain standards and results in a loss of asset value for foreign investor PROs: many MNCs, based on argument that US provides fair treatment to foreign investors; other countries should provide fair treatment to US investors Trans-Pacific Partnership ISDS: PROs: Similar investor-state provisions are in thousands of treaties around the world, including bilateral investment treaties to which the US is a party, and some other US trade agreements. Arbitration is a tested means of resolving disputes. 76 CONs: Is it necessary? Governments compete to attract foreign investment; therefore, they must maintain fair and transparent policies. 41

42 Trans-Pacific Partnership CONs: Gives special treatment to foreign corporations US companies have recourse to court system only, rather than arbitration tribunals; violates national treatment It negates advantage US has of transparent, stable, and efficient judicial system by providing foreign investment access to third-party arbitration tribunals encourages outsourcing 77 TPP Leaked Environmental Chapter Peru bilateral agreement TPP Parties must consult and failing Parties must consult in multi-layer resolution can bring the matter to process. If the parties fail to the Council for further assistance resolve the matter at the highest or consultation. Parties also have level, then an arbitral tribunal may the right to invoke the general be requested under this Consultation and Dispute Chapter. The tribunal has the Settlement Provisions of the power to hear the dispute and agreement, which include trade issue a report to resolve the sanctions. matter. Article Article SS

43 Transatlantic Trade and Investment Partnership Transatlantic Trade and Investment Partnership Transatlantic trade and investment agreement with the European Union; announced in Feb., 2013 State of the Union address Launched in July, 2013 Most negotiations over regulatory coherence how to harmonize different US and EU regulations many different industries reduce costs of compliance for multinational businesses 80 43

44 Transatlantic Trade and Investment Partnership Regulatory coherence: Possible Regulatory Cooperation Council: monitor commitments made in pact and propose new opportunities for cooperation US: would like more public input on EU rules; adoption of public notice and comment procedure for rulemaking that is similar to US process as published in the Federal Register 81 Different sectors will need different approaches: Chemical sector: 82 Chief EU negotiator: impossible to harmonize US and EU regulations; regulatory cooperation may be limited to using common data, sharing information and test results Likely no mutual recognition where each side would recognize the other s safety certifications Financial services: EU: regulatory convergence, and market openings for banks, insurance, securities sectors US: only market access issues in negotiations 44

45 Transatlantic Trade and Investment Partnership Other Issues: Liquefied natural gas and petroleum: EU would like more open trade; eliminate some US restrictions on exports of both EU currently heavily dependent on Russia for natural gas and Middle East for oil Data protection and privacy: EU: would reject any deal that scales back strict privacy rights found in EU Charter 83 Transatlantic Trade and Investment Partnership EU: its data protection legislation cannot be deemed arbitrary and unjustifiable discrimination under Article XIV of the WTO s General Agreement on Trade in Services 84 USCoC: arguing for looser restrictions on cross-border data flows by increasing ways US companies can comply with EU s data privacy restrictions: currently, certain industries are not able to take advantage of US-EU Safe Harbor Framework for transfers of data alternative ways to demonstrate adequate data protection 45

46 Transatlantic Trade and Investment Partnership Other issues: EU leaked report: eliminate restrictions in Jones Act, which permits only US-flagged ships to transport goods between two US ports Last year, USTR pledged to Congressman that trade agreements would continue to allow application of Jones Act Possible inclusion of chapter dedicated to trade opportunities for small and medium-sized businesses 85 Trade Promotion Authority 46

47 Trade Promotion Authority 87 Trade Promotion Authority ( TPA ) or fast track legislation: Technically not necessary to begin or conclude trade negotiations, But key to passing trade agreement implementing legislation; other countries reluctant to negotiate hard issues without it Allows Administration to submit trade agreements to Congress for straight up-or-down votes, without amendments Expired in 2007 Compliance Training 88 47

48 Competition & Antitrust Law Authored by Baker & McKenzie attorneys 6 industries / 15 key languages + interactive exercises and quiz for effective learning Cartels and Dealing with Competitors Overview of competition law Cartels & restrictive agreements Price fixing, customer sharing Trade Association meetings, practical tips Distribution, Market Power & Investigations Dealing with customers Regulation of substantial market power Pointers for drafting documents & communication Investigations 2014 Baker & McKenzie 89 Export Controls & Sanctions E-learning Authored by Baker & McKenzie attorneys Covers trade law from a US and EU perspective Designed to train a broad range of employees in export controls & sanctions compliance Topics Covered What are export controls & sanctions? Global trends in enforcement and penalties Scope of controls and jurisdictional considerations Classification & controls of military and dual-use products Encryption controls, exceptions and administration (optional) Understanding the end-use of your product Is your customer a designated / restricted party? Direct and indirect supplies Red flags and screening customers, shareholders, directors, and third parties Issues in obtaining payment Licensing goods and dealings with designated / restricted parties 2014 Baker & McKenzie 90 48

49 Anti-corruption / Anti-bribery E-learning authored by Baker & McKenzie attorneys 8 industries / 7 key languages + Interactive exercises and quiz for effective learning Covers key anti-corruption / anti-bribery issues What is Bribery and Corruption? What are the risks to you and your business? Who do anti-bribery laws apply to? What are the relevant laws? Key bribery and corruption risk areas What to do if you are asked to pay or are offered a bribe Practical examples of high risk situations Also includes case studies, practical tips, and industry-and region specific topics Full invitation / reminder management and usage reporting available! 2014 Baker & McKenzie 91 Global Code of Conduct E-learning Authored by Baker & McKenzie attorneys Comprehensive training program, which can be customized to fit client policies 4 key languages available + Interactive exercises and quiz for effective learning Effective training on key Code of Conduct topics Export Controls / Conflicts of Interest Anti-Bribery / Anti-Money Laundering Insider Trading / Fair Competition & Antitrust Social Responsibility / Environment / Social Media Lobbying / Sponsoring / Charitable Contributions Product Safety / Health & Safety Protecting Company Assets / Accounting & Taxes Trade Secrets & Intellectual Property / Data Protection Full invitation / reminder management and usage reporting available! 2014 Baker & McKenzie 92 49

50 Compliance E-learning A Comprehensive Program Suite Authored by Baker & McKenzie Attorneys Export Controls & Sanctions - NEW! Global Code of Conduct - NEW! Global Competition & Antitrust Law Global Anti-Corruption / Anti-Bribery VAT Compliance in the EU Cross-border Conduct Financial Services Global Anti-Money Laundering * Global Data Privacy / Data Protection * Global Insider Trading & Market Abuse * Intellectual Property Rights * Additional Services Integrated e-testing facilities for effective learning Full invitation / reminder management or LMS hosting Extensive usage reporting, helping companies track their compliance efforts Customization options -client specific content, branding, languages, certificates etc Baker & McKenzie 93 Contact Information 94 50

51 Information: Contact Brian Cacic Moderator/Speaker Toronto Baker & McKenzie LLP Barristers & Solicitors Brookfield Place Bay/Wellington Tower 181 Bay Street, Suite 2100 Toronto, Ontario M5J 2T3 Canada T F Brian.Cacic@bakermckenzie.com Yi Lin Seng Speaker Singapore Baker & McKenzie.Wong & Leow 8 Marina Boulevard #05-01 Marina Bay Financial Centre Tower 1 Singapore T F YiLin.Seng@bakermckenzie.com Frederick (Fred) R. Burke Speaker Beijing Baker & McKenzie (Vietnam) Ltd. (HCMC) 12th Floor, Saigon Tower 29 Le Duan Blvd District 1 Ho Chi Minh City Vietnam T F Frederick.Burke@bakermckenzie.com Diane A. MacDonald Speaker Chicago Baker & McKenzie LLP 300 East Randolph Street, Suite 5000 Chicago, Illinois United States T F Diane.MacDonald@bakermckenzie.com 2014 Baker & McKenzie LLP 95 51