Many associations commonly collect and disseminate industry data and statistics for their members. Where such information is commercially sensitive (for example, information on retail sales and market shares of members) and is disaggregated such that they can be easily attributed to specific members, competition law issues are likely to arise as such dissemination reduces the uncertainty that would normally exist
Malaysia has come a long way to finally pass and implement the PDPA after a wait of more than a decade. The PDPA has commercially far-reaching implications and severe penalties in the event of non-compliance. The intent of the PDPA is not to inhibit business but to grow it by giving consumers confidence that their personal data will be protected. Errant data users should bear in mind that it is no longer “business as usual”….
Under the new FSA, policy owner can no longer appoint himself/herself as the trustee of the policy moneys. In the event no trustee is appointed, the beneficiary (or nominee) who is competent to contract will be the trustee. If the beneficiary is incompetent to contract, the parent(s) of the incompetent beneficiary (other than the policy owner) will be the trustee. Only when there is no surviving parent of the incompetent beneficiary, the Public Trustee will then be appointed.
New enforcement date of the Personal Data Protection Act 2010 has just been announced and it is 16 August 2013. This was as reported by Baker & McKenzie | »Announcements have been made by YB Dato’ Sri Ahmad Shabery bin…
No doubt about this, in the FSA the refund provision was worded in a manner that policy premium refund is to be paid directly to the policy owner and never under any circumstances be paid or credited to the agent’s account.
We have also underlined the phrase, “….pay directly to a policy owner….” and if read together with the other phrase, “….such refund shall under no circumstances be paid or credited to any insurance agent.”, there is no doubt the FSA has intended to provide no flexibility at all for any possible interpretation…. including allowing the policy owner to sign a declaration to assign the policy refund to the agent…. with intention to strengthen policy owner protection.