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Baker McKenzie are pleased to invite you to their Global Year-End Review of Import/Export/Trade Compliance Developments on 16, 17, and 18 November. International trade compliance lawyers will discuss and examine major global legislative, judicial and administrative activities and trends in export controls, trade sanctions, customs compliance, and import requirements.

On 15 October 2021, the Dutch Minister of Foreign Affairs announced that the Dutch government has revised its licensing policy for exports of military-related items to Turkey. This policy covers both military items within the meaning of the EU Common Military List and dual-use items in case of a military end-use. The changes were announced in a letter to Dutch Parliament.

On 21 September 2021, the US Treasury Department’s Office of Foreign Assets Control issued an updated ransomware advisory highlighting the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to be “mitigating factors” in any related enforcement action. OFAC concurrently designated SUEX OTC, SRO as a Specially Designated National, the first designated virtual currency exchange.

On 8 October 2021, the Office of the United States Trade Representative issued a notice and request for public comments on the potential reinstatement of certain exclusions of tariffs on Chinese imports imposed under USTR’s Section 301 investigation. USTR will examine 549 previously granted exclusions, many of which expired since 31 December 2020, for possible reinstatement.

Covid-19

The emergence and subsequent spread of the Delta variant has led several countries, most notably the United States, into adopting more stringent health and safety protocols. On 29 July 2021, President Biden declared that the US government would be imposing vaccination requirements in certain cases and offering additional incentives for its citizens to be vaccinated. Following this announcement, TMT Talk revisits the important legal aspects of vaccinations, as they apply to the TMT sector.

Antitrust / Competition

Episode 19: Crypto around the World (Part 2) Taking off from the guide Crypto around the World, the second of two episodes takes a closer look at market abuse, sustainability, decentralized finance and future developments. Sue McLean, a partner in our London office, talks to the team that started this project: Iris Barsan, counsel from our Paris office; Julian Hui, associate from our London office; and Chris Murrer, a US attorney in our Zurich office. They also cover specific regulatory and policy considerations, as well as the future impact of central bank digital currencies.

Anti-Corruption

This episode goes over the final four fundamental elements of the National Anti-Corruption Commission’s guidelines. These elements are: personnel should have accurate books and accounting records, human resource management policies complementary to anti-bribery measures, companies should have communication mechanisms that encourage the reporting of the suspicion of bribery (whistleblowing), and companies need to review and evaluate anti-bribery prevention measures and their effectiveness.

United States

On 21 September 2021, the US Treasury Department’s Office of Foreign Assets Control issued an updated ransomware advisory highlighting the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to be “mitigating factors” in any related enforcement action. OFAC concurrently designated SUEX OTC, SRO as a Specially Designated National, the first designated virtual currency exchange.

Data Privacy

On 21 September 2021, the US Treasury Department’s Office of Foreign Assets Control issued an updated ransomware advisory highlighting the sanctions risks associated with ransomware payments in connection with malicious cyber-enabled activities and the proactive steps companies can take to mitigate such risks, including actions that OFAC would consider to be “mitigating factors” in any related enforcement action. OFAC concurrently designated SUEX OTC, SRO as a Specially Designated National, the first designated virtual currency exchange.