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Following the Treasury’s confirmation that it intends to introduce a new “regulatory gateway” for authorized firms approving financial promotions, the FCA has launched a consultation on proposals to operationalize this new gateway. Complementing a wider program of reform to the financial promotions regime, the proposals will affect both authorized firms approving financial promotions as well as unauthorized firms communicating approved financial promotions.

On 7 September 2022, Brazil and the UK issued a joint declaration announcing the intention to start negotiating a double tax convention. This announcement came off the back of a number of years of discussion to progress both policy and technical issues – hence the treaty was able to be signed on 29 November 2022, within three months of that announcement. The treaty has not yet entered into force – this will happen upon completion of the legal procedures required by both countries, but it is not yet clear how long this will take.

The European Commission has put forward a proposal to harmonize criminal offences and penalties for the violation of EU sanctions. The proposal follows a decision by the Council which identified the violation of EU sanctions as an EU crime and sets out common EU rules which will make it easier to investigate, prosecute and punish violations of EU sanctions in all Member States alike.

Baker McKenzie’s Sanctions Blog published the alert titled OFAC Issues Russian Crude Oil-related Determination, Guidance on Implementation of the Price Cap Policy for Russian Crude Oil, and Russia-related General Licenses on 2 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

A wide range of trending employment topics have been covered during this webinar, recent changes to the HR landscape, such as the proposed implementation of the EU Directive on Transparent and Predictable Working Conditions, the labor deal, the recent changes regarding the reintegration process of long-term sick employees etc.