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10 ASIAN LEGAL BUSINESS – NOVEMBER 2017 LEGALBUSINESSONLINE.COM BRIEFS MORE PHILIPPINE DATA PRIVACY ACT: ARE YOU READY FOR PHASE II? REGIONAL UPDATE: PHILIPPINES Controllers and processors who have completed Phase I registration with the national Privacy Commission (nPC) will now have to gear up for Phase II. Phase II involves providing the nPC with the following information: (i) name and contact details of the organization, head of the organization, and the Data Privacy Offi cer; (ii) purpose or mandate of the organization; (iii) identifi cation of all existing policies relating to data governance, data privacy, and informa- tion security, and other documents that provide a general description of privacy and security measures for data protection; (iv) attestation regarding certifi cations attained by the organization, including its relevant personnel, that are related to personal data processing; (v) brief description of the registrant's data processing system or systems that should include: 1) name of the system; 2) purpose or purposes of the processing; 3) whether processing is being done as a personal information controller (PIC), personal information processor (PIP), or both; 4) whether the system is outsourced or subcontracted, and if so, the name and contact details of the PIP; 5) description of the category or categories of data subjects, and their personal data or categories thereof; 6) recipients or categories of recipients to whom the personal data may be disclosed; and 7) whether personal data is transferred outside the Philippines (vi) notification regarding any automated decision-making operation. This information is supposed to be provided to the nPC online through the Commission's platform. After submission, the nPC is supposed to confi rm to the registrant via email the successful comple- tion of the registration process. The nPC will also issue a certifi cate of registration. Deadline for Phase II registration is March 8, 2018. The certifi cate of registration requires an annual renewal, and the application must be fi led two months prior to, but not later than, March 8 of every year. Thus, assuming a successful Phase II registra- tion in 2018, the next renewal will need to be applied for no later than March 8, 2019. SyCipLaw Center 105 Paseo de Roxas, Makati City, Metro Manila, Philippines 1226 T: (632) 982 3500 / F: (632) 817 3896 Rose Marie M. King-Dominguez Partner Arvin Kristopher A. Razon Associate Indonesia is investigating reports that $1.4 billion held by standard Chartered Plc in Guernsey, mainly on behalf of Indonesian clients, was transferred to singapore just before the island moved to new tax transparency rules, tax and regu- latory offi cials said. The Monetary Authority of singapore (MAs) and Guernsey's Financial services Commission were looking into that movement of assets in late 2015 - months before the Channel Island adopted a global framework for the exchange of tax data. Under those rules, countries automatically share annual reports on accounts belonging to people subject to taxes in each country. Britain, Guernsey and singapore have all signed up, but Guernsey implemented the rules ahead of singapore. The investigation was fi rst reported by Bloomberg, which cited anonymous sources saying that standard Chartered reported the matter itself to the regulators. It said the sources said regulators were looking into standard Chartered's processes, but had not suggested the bank colluded with clients to evade tax. standard Chartered said last year that it was to close its trust operations in Guernsey and centralize that part of its business in singapore. standard Chartered declined to comment. A MAs spokes- person said in a statement: "As our supervisory probe is still ongoing, we are unable to provide more information at this juncture." Indonesian and other regulators have not identifi ed the customers or given information about concerns about the funds. "We are now checking their annual tax reports, as well as their report of assets, for those who participated in the (Indonesian) tax amnesty," Hestu Yoga saksama, a spokesman for Indonesia's tax offi ce, said. "If those assets are reported in annual reports or declared during the tax amnesty, it surely means there are no problems. But if they were not, we are going to follow up under the prevailing regulations." INDONESIA INVESTIGATES STANCHART OVER $1.4 BILLION TRANSFER REUTERs/Darren Whiteside

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