The European Commission launched the European (EU) Green Deal in 2019. The EU Green Deal is a package of policy initiatives, one of which is a commitment to tackle false environmental claims by requiring that consumers receive reliable, comparable, and verifiable information to enable them to make more sustainable decisions and reduce the risk of greenwashing.
In a major shakeup to businesses’ obligations relating to human rights, environmental standards and climate change, the Corporate Sustainability Due Diligence Directive (CS3D) is set to become law. In this article, we focus on the climate-related obligations enshrined in the CS3D: the obligation imposed on companies to adopt and put into effect climate transition plans.
On 1 January 2022, the CFC rules became effective in Ukraine. For the novelty of the concept and the imperfections of the underlying legislation, many provisions of the applicable CFC rules call for clarification, elaboration, or further guidance.
In this context, on 2 May 2023, the Parliament of Ukraine passed – in the first (of typically two) readings – Bill No. 8137 “On Amendments to the Tax Code of Ukraine with respect to Enhancement of the Taxation of Controlled Foreign Companies” (“Amending Bill”), aimed at addressing most pressing issues pertaining to the application and interpretation of the CFC rules.
This week we kicked off our Annual Compliance Conference with key antitrust compliance topics that are impacting businesses today. Specifically, we discussed antitrust risk and enforcement in relation to vertical agreements, and how to manage compliance risk in the context of transactions.
Our popular Annual Compliance Conference, which attracts over 4,000 in-house senior legal and compliance professionals every year from across the world, will be taking place from 30 April – 6 June. We will be delivering our cutting-edge insights and guidance virtually on key global compliance, investigations and ethics trends.
We are pleased to present you with the latest update of Product Risk Radar (linked to https://www.globalcompliancenews.com/product-risk-radar/), our…
On 22 May 2024, the Swedish Parliament is expected to vote on a proposal to remove the requirement to retain original hard copy accounting materials. The bill, published on 29 February 2024, proposes that hard copy accounting materials, which have been duly saved digitally, no longer have to be kept in hard copy. The amendments are proposed to enter into effect on 1 July 2024.
The Supreme Court has ruled that section 146 of the Trade Union and Labour Relations (Consolidation) Act 1992 (TULRCA) which does not prevent employers from taking action short of dismissal in response to striking employees is incompatible with Article 11 of the European Convention of Human Rights (ECHR). Although the declaration of incompatibility does not affect the validity or operation of section 146, it will put pressure on the government to legislate to correct the position, and employers are likely to be mindful of the decision when considering action short of dismissal in response to industrial action. Detriments for participation in industrial action, such as removing discretionary benefits from those who take part, currently remain lawful, so long as the detriments in question aren’t so severe as to constitute a constructive dismissal.
On 18 May 2024 (with certain exceptions), Law of Ukraine No. 3633-IX “On Amendments to Certain Legislative Acts of Ukraine on Certain Issues of Military Service, Mobilization and Military Registration” dated 11 April 2024 will come into force. This Law, among others, imposes certain new obligations for employers and their employees who are subject to mobilization.
On 15 December 2023, the Federal Council adopted a draft Investment Screening Act (the “D-ISA”). To date, Switzerland has no overarching regulation for the review of foreign investments as prevalent in other countries. The D-ISA intends to introduce sector-specific investment control in Switzerland to prevent takeovers of Swiss companies operating in critical sectors by foreign state-controlled investors (public or private investors that are directly or indirectly controlled by a state) if these takeovers endanger or threaten public order or security in Switzerland.