Europe Archives - Global Compliance News

In Europe

Poland: Cooperation with influencers

December 1, 2021 by Marcin Fijalkowski and Monika Gebel 4 Mins Read

For a long time in Poland, governmental bodies did not comment on the legal framework applicable to cooperation with influencers, such as the proper tagging of posts or the liability for sponsored content. The principles of cooperation could only be assessed on the basis of general interpretations of the existing legal regulations. However, in recent weeks the Polish Office for Competition and Consumer Protection has taken steps to organize the sponsored online content market, as it found that much of the commercial content on influencer profiles on social media is either not marked as advertising at all or is insufficiently marked.

In Environment

Ukraine: Legal framework for biomethane treatment

November 30, 2021 by Serhiy Chorny, Victoria Ischenko and Stepanyda Badovska 3 Mins Read

On 21 October 2021, the Ukrainian Parliament adopted the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine Concerning the Development of Biomethane Production” (“Law”), which supplements the Laws of Ukraine “On Alternative Fuels” and “On the Natural Gas Market”2 with new provisions on biomethane treatment. In addition to the introduction of the “biomethane” definition, the Law establishes grounds for the functioning of the biomethane register and the issuance and circulation of the so-called guarantees of origin of biomethane.

In Corporate Compliance

United Kingdom: Treasury proposes to regulate BNPL market

November 29, 2021 by Mark Simpson, Kimberly Everitt and Ben Thatcher 2 Mins Read

On 21 October 2021, HM Treasury published its much-anticipated consultation on the regulation of buy-now-pay-later products. The consultation arrives nearly seven months after the Treasury confirmed that it would formally consult on bringing BNPL products into the regulatory perimeter “as a matter of priority”.

In Environment

United Kingdom: ESG Margin Ratchet

November 27, 2021 by Ben Wilkinson, Nick O'Grady, Connor Lovie and Benjamin Bierwirth 1 Min Read

In this edition of In the Know, we look at Environmental, Social and Governance (ESG) standards in Sustainability Linked Lending (in both loans and bonds). We address the ESG margin ratchet, how it interacts with ESG targets and testing strategies, and potential reinvestment obligations arising out of those interest savings, in each case, within the European leveraged finance market.

In Afghanistan

UK: UK OFSI updates Charity Sector Guidance

November 25, 2021 by Andrew Rose 2 Mins Read

On 1 November 2021, the UK Office of Financial Sanctions Implementation published an updated Charity Sector Guidance and a blog post in response to Afghanistan’s Taliban takeover in August. A copy of the Guidance is available here.

In Europe

Ukraine: Ukraine imposes a new set of sanctions

November 24, 2021 by Hanna Shtepa and Hanna Smyrnova 3 Mins Read

On 30 October 2021, the president of Ukraine enacted four decisions of the National Security and Defense Council of Ukraine imposing personal special economic and other restrictive measures. The Decisions impose extensive sanctions restrictions, including, among others, asset freezes, restriction on the exit of capital from Ukraine, a ban on trade operations and the transit of resources, flights and transportation within the territory of Ukraine, and the suspension of the performance of economic and financial obligations, etc., upon legal entities and individuals involved in various activities.

In Anti-Corruption

Russia Trade Days (7 – 10 December 2021)

November 23, 2021 by Alexander Bychkov, Vladimir Efremov, Alexandre Lamy, Ben Smith, Philippe Reich, Alexandra Shmarko, Denis S. Ezhov, Andrey Gavrilov, Kristina Shcheglazova, Hava Kadyrova, Oleg Tkachenko, Ekaterina Erova, Anastasia Efimova and Nadia Goreslavskaya 1 Min Read

Join us for an international conference at which Baker McKenzie experts will share the most recent developments in the areas of sanctions, export controls, anti-corruption legislation, customs and Russian trade protectionism. The Russia Trade Days event will take place from 7 – 10 December 2021.

In Europe

EU/US: EU and US reach deal on steel and aluminum tariffs

November 22, 2021 by Christine Streatfeild, Pablo Bentes and Jennifer F. Revis 3 Mins Read

On 31 October 2021, the EU and US issued a joint statement announcing that they had reached an agreement to end their dispute over steel and aluminum tariffs. This agreement removes the US “Section 232” tariffs on imports of EU steel and aluminium, imposed during the Trump administration, whilst the EU has agreed to suspend additional duties imposed on US goods in retaliation. Both sides have also agreed to suspend disputes initiated against each other at the WTO in relation to the tariffs.

In Anti-Corruption

Africa: African Growth and Opportunity Act eligibility requirements under review in three African countries

November 20, 2021 by Virusha Subban 4 Mins Read

In November, the United States announced that Ethiopia, Guinea and Mali would be terminated from the African Growth and Opportunity Act (“AGOA”) trade preference program, unless they took urgent action to meet eligibility criteria by 1 January 2022. AGOA eligibility requirements include, among other things, that countries must follow the rule of law and implement economic policies that reduce poverty and combat corruption and bribery. Countries must also protect internationally recognized human and worker rights, and must not engage in activities that undermine national security interests.

In Covid-19

United Kingdom: Back in the office – Reluctant returners and tensions surrounding vaccinations and mask wearing

November 20, 2021 by Stephen Ratcliffe, Richard Cook and James Brown 1 Min Read

Following on from part one of our two-part virtual mini-series “Back in the office: The evolving debate on vaccine mandates, and other Covid-safe measures”, in part two, Stephen Ratcliffe and Richard Cook dissect two particularly thorny issues that employers are currently dealing with in relation to the return to the office: reluctant returners and tensions surrounding vaccinations and the wearing of masks.