The draft regulation, which will replace the 2005 version, has not been notified to the World Trade Organization (WTO). The provisions regulate the application of GI products, opposition procedures, GI protection system, and supervision of the use of GI product names, labels, and penalties.

The CNIPA published its first-ever Five-Year Plan for Geographic Indications on January 21, 2022. The plan aims to promote the development of China’s GI system and enhance the protection of GI products.

A link to the draft Regulation in Chinese: https://www.cnipa.gov.cn/art/2023/9/18/art_75_187625.html An unofficial translation of that report is available in GAIN CH2022-0032, dated March 14, 2022.

The new regulations require applicants to submit suggestions from relevant local governments on the origin range of GI products, documents regarding the establishment of application organizations or identifying associations and enterprises as applicants, and certification materials for GI products.

The provincial quality and technical supervision bureaus and the directly affiliated entry-exit inspection and quarantine bureaus are responsible for providing preliminary review opinions on the protection applications for GI products to be declared and reporting relevant documents and materials to the State Intellectual Property Office.

The AQSIQ conducts a formal review of the applications received. If the application has been reviewed by the provincial quality and technical supervision bureau or the directly affiliated entry-exit inspection and quarantine bureau and has been reviewed and registered by the General Administration of Quality Supervision, Inspection, and Quarantine, an announcement will be issued. The producer can use the special mark for GI products on their products and obtain the certificate.

Legal users of special signs for GI products should download basic pattern vectors from the official website of the State Intellectual Property Office. The vector graphics of the special signs for GI products can be scaled according to the proportion, and the annotations should be clear and legible. The pattern shape, composition, text font, picture and text ratio, color value, etc. of the special signs must not be changed.

After a GI product is protected, the applicant shall take measures to manage the use of GI product names and special marks, product characteristics and quality, etc. An annual reporting system is implemented for the protection of GI products. Before the end of March each year, applicants must report to the State Intellectual Property Office the status of GI product protection in the previous year.

Local intellectual property management departments are responsible for daily supervision of the origin, name, quality characteristics, standard compliance, and use of special marks of protected GI products within their respective administrative regions. Provincial intellectual property management departments should regularly submit regulatory information on GI products and special signs to the State Intellectual Property Office.

The new regulations aim to enhance the protection of GI products and promote the development of China’s GI system. The draft regulation is open for public comment until November 2, 2023. U.S. stakeholders following the development of China’s GI system are welcome to contact AgBeijing@usda.gov and can be put in touch with subject matter experts at other U.S. Government agencies.

The post China Drafts New Regulations for Protection of Geographic Indication Products appeared first on NRI News.

In a concurrent action, the Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty of $15 million for violations of the BSA. The payment of $15 million to the United States Department of the Treasury will satisfy both FDIC and FinCEN assessments.

The New York State Department of Financial Services has also imposed a civil money penalty of $10 million against Shinhan Bank America for violations of state AML laws and regulations.

The FDIC has determined that the bank failed to implement an adequate AML program over an extended period of time. The inadequate BSA/AML internal controls resulted in the bank being unable to adequately identify and manage illicit financial activity risk to the institution.

Shinhan Bank America has been ordered to pay the civil money penalty. The bank has not yet commented on the matter.

The post Shinhan Bank America Fined $30 Million for Violating Anti-Money Laundering Regulations appeared first on NRI News.