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In Asia-Pacific

Japan: Corporate and Tax Quarterly Update

by and 2 Mins Read

On 10 December 2021, Japan announced its 2022 tax reform proposal, which contains a number of changes to the existing tax rules that may impact companies doing business in Japan, including changes that may provide some companies with a chance to reduce their Japanese tax burden, as well as changes that may result in potential pitfalls (e.g., disallowance of certain incentives, etc.) for failure to comply with the new provisions. Additionally, amendments were made to the Japanese Companies Act in 2021 introducing a share delivery regime.

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In Asia-Pacific

Japan announces sanctions against Russia and the so-called Donetsk People’s Republic and Luhansk People’s Republic

by 1 Min Read

On February 23, 2022, the Prime Minister of Japan, Fumio Kishida, made an announcement that Japan will implement a set of economic sanctions against Russia and the so-called Donetsk People’s Republic and Luhansk People’s Republic in eastern Ukraine.
Japan has condemned the latest Russian move of recognizing the break-away areas as a violation of the sovereignty and territorial integrity of Ukraine as well as international law.

In Antitrust / Competition

Japan: Competition authority publishes report on IPO pricing practices

by and 3 Mins Read

On 28 January 2022, the Japan Fair Trade Commission published a report warning that setting offering prices for startup companies without sufficient explanation or reasonable grounds may give rise to concerns under the Japanese Anti-Monopoly Act. Given the authority’s close scrutiny of such transactions, securities companies involved in initial public offerings are strongly advised to review their offering price-setting processes, including whether sufficient discussions have been held with the startup companies, to ensure that they are not setting prices unilaterally.

In Asia-Pacific

Japan: The requirement for whistleblowing systems under the Amended Whistleblower Protection Act

by , , , and 5 Mins Read

In June 2022, amendments to the Whistleblower Protection Act, which protects employees who have reported violations of certain laws specified in the WPA, are expected to come into force. Amongst other items, the Amended WPA includes a mandatory obligation for companies of a certain size to establish a whistleblowing system with the aim of ensuring the protection of whistleblowers.

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In Asia-Pacific

Nuts and Bolts of Trade Compliance in Asia Pacific: Spotlight on Warehousing

by 1 Min Read

In this annual webinar series, we are putting a spotlight on warehousing arrangements. Our speakers will update you on legislative and customs developments, share insights into the current practices of authorities, and provide practical tips on how you can identify opportunities, maximize benefits and mitigate risks when utilizing these warehouses as part of your supply chain solutions.

In Asia-Pacific

Japan: Effective 1 April 2022 – Changes to (i) action plan regarding women’s participation and advancement; and (ii) childcare leave

by and 5 Mins Read

The requirements under the Act on the Promotion of Female Participation and Career Advancement in the Workplace (APFPCA) are currently applicable only to companies with more than 300 regular employees. However, thanks to a recent revision, they will apply to companies with more than 100 regular employees from 1 April 2022. An amendment to the Child and Family Care Leave Act will also become effective on 1 April 2022. These changes stem from the same root as those made to the APFPCA — the goal of creating working environments that enable employees of both genders to participate and advance equally.

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In AML & Financial Services Regulatory

Multijurisdiction: Bite-size Briefings – Cryptoasset regulation

by , , , , , , , , , , , , and 1 Min Read

A series of briefings that take a “bite-size” look at international trends in different jurisdictions, drawing on Baker McKenzie’s expert financial services practitioners.

In Argentina

International: LIBOR Transition Hub

by , , , , , and 1 Min Read

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

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