Search for:
Category

UK

Category
In Belarus

UK, US, Canada and Switzerland significantly escalate sanctions against Belarus

by , , , , , , , and 10 Mins Read

On August 9, 2021, the United States, the United Kingdom, and Canada significantly escalated sanctions against Belarus in a multilateral effort to put pressure on the current Lukashenko regime. These sanctions were announced on the first anniversary of the fraudulent elections held in Belarus on August 9, 2020 and follow a series of previous measures against Belarus, including most recently the coordinated measures between the UK, US, Canada and the EU in June (see our previous blog post here) and the sectoral sanctions also introduced by the EU in June (see our previous blog post here).

Read More
In AML & Financial Services Regulatory

Multijurisdiction: Bite-size Briefings – Cryptoasset regulation

by , , , , , , , , , , , and 1 Min Read

A series of briefings that take a “bite-size” look at international trends in different jurisdictions, drawing on Baker McKenzie’s expert financial services practitioners.

In AML & Financial Services Regulatory

Europe: European Commission and UK Treasury publish proposals to reform AML/CTF regimes

by , and 1 Min Read

On 20 July 2021, the European Commission presented a package of legislative proposals establishing a new framework for the EU’s anti-money laundering and countering terrorism financing (AML/CTF) regime. The package will create an EU-wide AML supervisory authority, establish a new directly applicable single rulebook, and extend the scope and requirements of the regime including, significantly, to all cryptoasset service providers. In this briefing we explore the Commission’s proposals in more detail. We also set out considerations for UK firms, including HM Treasury’s recent consultations on the UK AML/CTF regime

In Europe

United Kingdom: Veterinary Medicines Directorate guidance on the regulation of animal health products in the UK post-Brexit

by 2 Mins Read

With the changes to the regulation of veterinary medicines in the UK as a result of Brexit, the Veterinary Medicines Directorate has created a helpful information hub pulling together its communications on current and future regulatory changes. Access the Hub here, including useful explainers on “Application and authorisation“, “Manufacturing and distribution“, and “Pharmacovigilance“, and see below for a summary of some key points.

In Corporate Compliance

Europe: New European Due Diligence Guidance Published to Address Forced Labor in Supply Chains

by , and 4 Mins Read

On 12 July the European Commission and the European External Actions Service (EEAS) published guidance on “due diligence for EU businesses to address the risk of forced labour in their operations and supply chains”. The non-binding guidance seeks to provide European companies with practical advice on the implementation of effective human rights due diligence practices to address forced labour risks in their supply chains.

In AML & Financial Services Regulatory

International: LIBOR Transition Hub

by , , , , , and 1 Min Read

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

In Employment

United Kingdom: FCA proposals for listed companies to disclose whether they have achieved certain gender and ethnic diversity related targets

by and 7 Mins Read

The FCA recently published a consultation paper (CP21/24: Diversity and inclusion on company boards) setting out a number of proposals to enhance diversity-related reporting by certain listed companies. Proposals include creating new requirements in the Listing Rules for certain premium and standard listed companies to publish (in their annual report and accounts) a “comply or explain” statement on whether they have achieved proposed targets for gender and ethnic minority representation on their board, as well as preparing further numerical data on the gender and ethnic diversity composition of the company’s board, key board positions, and executive management team. The consultation will close on 20 October 2021, with the proposed rule changes expected to come into force for financial years starting on or after 1 January 2022.

Read More
Load More