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In Employment

United Kingdom: Government supports MPs proposed changes to employment law

by , and 6 Mins Read

After a long period in which the UK government has promised several employment law changes contained in an Employment Bill without bringing forward such a Bill, it has now announced it is supporting certain private members’ bills which include developments in these areas. These include expanding the right to request flexible working, a new right to request more predictable working conditions, a number of changes to family leave entitlements, and protection for those facing harassment by third parties such as customers at work.

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In AML & Financial Services Regulatory

United Kingdom: Treasury publishes draft BNPL legislation

by , and 6 Mins Read

On 14 February 2023, the Treasury finally published its delayed consultation on draft legislation to bring BNPL within the regulatory perimeter. The legislation follows the general approach set out by the Treasury last summer to bringing BNPL within the regulatory perimeter. There are, however, some key updates in the Treasury’s final policy position from its thinking from last summer on the scope of regulation.

In ESG

Europe: Redefining luxury and fashion

by , , , , , , , , , , , , , and 2 Mins Read

Join Baker McKenzie’s Consumer Goods & Retail Industry Group for their events entitled Redefining Luxury & Fashion: What Fits in the Future? scheduled to take place in London on Tuesday, 14 March 2023 and in Paris on Thursday, 16 March 2023.

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In Sanctions

EU and UK implement UN sanctions humanitarian exemption

by and 2 Mins Read

In December 2022, the United Nations Security Council adopted a resolution which introduced a standardized humanitarian exemption across UN regimes according to which activities necessary for humanitarian assistance and other activities that support basic human needs are exempt from sanctions in the form of asset freezes imposed by the Security Council or by its Sanctions Committees. All UN sanctions regimes except the Afghanistan regulations will now include a standardized humanitarian exception to the asset freeze provisions.

In Sanctions

Middle East: Russia Sanctions Compliance Briefing Seminar

by , and 2 Mins Read

Baker McKenzie is delighted to invite you to interactive seminars on 1 March 2023 in Abu Dhabi and 2 March 2023 in Dubai as part of our EMEA Russia Sanctions Briefings. The seminars will focus on the multijurisdictional sanctions challenges facing financial institutions and their clients and other corporates in the Gulf, in relation to the US, UK, EU and UAE sanctions regimes, particularly against Russia. We will also focus on the current enforcement environment and best practices for mitigating sanctions risk arising from potential compliance failures.

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In Trade and Foreign Investment

European Union and UK: Navigating foreign investment restrictions

by and 2 Mins Read

In recent years, the investment policy landscape has become more complex as nations respond to national security threats, state development strategies and geopolitical risks. COVID-19 created a major economic shock worldwide, prompting some countries to take an even more stringent approach, with a focus on protecting the security of supply of inputs.

In AML & Financial Services Regulatory

United Kingdom: “What does 2023 hold? Key upcoming developments and enforcement trends”

by , , and 2 Mins Read

Baker McKenzie are pleased to share with you their annual briefing looking at financial services regulation and enforcement in 2023, “What does 2023 hold? Key upcoming developments and enforcement trends”. The London Financial Institutions Regulatory and Enforcement experts explore the key developments and trends expected to dominate the regulatory landscape this year.

In AML & Financial Services Regulatory

United Kingdom: Treasury sets out vision for cryptoasset regulation

by , and 2 Mins Read

HM Treasury has finally published its much anticipated consultation and call for evidence on a future financial services regulatory regime for cryptoassets. Building on the forthcoming stablecoin regulatory regime, the Treasury’s consultation sets out proposals to bring a broad set of cryptoassets within the Financial Services and Markets Act 2000 regulatory perimeter. This will result in a fundamental change in the way that cryptoasset businesses operate in the UK: the key outcomes of the consultation are that (a) cryptoasset service providers will require full FCA authorization to operate where they do so in the UK (or have customers in the UK), and (b) a new bespoke regime will be brought in governing public offers of cryptoassets and admission to trading of those assets on platforms.

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