Representatives of the EU and New Zealand held negotiations from 14 to 31 March 2022, discussing most areas of the future free trade agreement between the jurisdictions. According to a two-pager published by the European Commission, EU’s request to be exempt from New Zealand’s import customs fees is the only outstanding element in the text as far as the topic “Trade in goods” is concerned.
Baker McKenzie’s Sanctions Blog published the alert titled Russia imposes blocking sanctions on foreign energy companies on 12 May 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
More than one year since China’s new Export Control Law became effective, the Ministry of Commerce has finally released the long-awaited Regulations on Dual-use Item Export Control draft, for public comments on 22 April 2022.
Dong Wei v Shell Trading (Pte) Ltd and anor [2022] SGHC(A) 8 concerned an appeal from the decision of the Singapore High Court in a case relating to the termination of an employee’s employment without cause and with pay in lieu of notice, following two investigations into allegations of conflicts of interest.
The Victorian Civil and Administrative Tribunal has awarded AUD 150,000 in general damages after finding the Applicant was sexually assaulted and sexually harassed over a period of eleven months. The Applicant was a beauty therapist in a private salon and the harasser was her male co-worker. VCAT found the employer vicariously liable for the co-worker’s actions, but declined to make a finding that the employer had authorised, encouraged or assisted the sexual harassment under s 105 of the Equal Opportunity Act 2010.
On 5 May 2022, in a landmark Australian decision, the Federal Court found that RI Advice had breached its obligations as an Australian financial services licensee to act efficiently, honestly and fairly, as a result of its failure to have in place adequate risk management systems to manage cybersecurity risks. In handing down her judgment, Justice Rofe warned that “cybersecurity risk forms a significant risk connected with the conduct of the business and provision of financial services”. Her Honour noted that the declarations ordered in the matter should deter other AFS licensees from engaging in similar conduct.
On 5 May 2022, in a landmark Australian decision, the Federal Court found that RI Advice had breached its obligations as an Australian financial services (AFS) licensee to act efficiently, honestly and fairly, as a result of its failure to have in place adequate risk management systems to manage cybersecurity risks.
In an interview with IFLR, Zhang Hong (Head of Private Equity at Baker McKenzie FenXun) talks about what’s driving China’s outbound M&A in 2022 and where the hotspots for M&A activities are.
The federal election is slated for 21 May 2022 and it is important to be aware of your obligations when it comes to political donations to ensure you are compliant with any disclosure requirements under the Commonwealth Electoral Act 19189 (Cth) (“Electoral Act”).
Not only do offences under the Electoral Act carry fines but non-compliance with political donations laws can lead to significant reputational risk in an area that frequently makes headlines.
This federal election is also the first since reforms in December 2021 tightened the laws relating to political donations in relation to foreign donors.
On 25 April 2022, the Malaysia Competition Commission launched an online public consultation on proposed amendments to the Malaysian Competition Act 2010. Key amendments include (i) introduction of a merger control regime; and (ii) amendments to increase MyCC’s investigation and enforcement powers and enhance its procedures.