In its press release published on 26 October 2022, The Financial Crimes and Enforcement Network announced that its Acting Director renewed and expanded its Geographic Targeting Orders beginning on 27 October 2022 and ending on 24 April 2023 (with certain exceptions).
On 5 December 2022, the US Department of State’s Directorate of Defense Trade Controls (DDTC) issued the International Traffic in Arms Regulations (ITAR) Compliance Program Guidelines. The ITAR Guidelines set out DDTC’s expectations for an effective ITAR Compliance Program and an introduction to controls contained in the Arms Export Control Act and ITAR.
As we head into 2023, all eyes are on salary and pay range requirements in US job postings — where these laws apply, what they require, and when they come into effect. In this latest video, our Labor & Employment lawyers explain what employers need to know about US laws requiring salary and pay range disclosures in job postings including important differences from location to location, questions and concerns, and practical takeaways.
On 30 November 2022, Treasury and the IRS published Notice 2022-61, which provides much-awaited guidance on the application of “prevailing wage” and “apprenticeship” requirements relevant to determining the amount of several renewable energy and other clean technology tax credits that were enacted, extended or modified by the Inflation Reduction Act. The guidance provided by the Notice is fairly scant and leaves a number of issues unaddressed. It seems that the issuance of the Notice was rushed in order to start the 60-day period after which taxpayers will need to satisfy the “prevailing wage” and “apprenticeship” requirements, to the extent applicable, to claim the maximum tax benefit for projects (i.e., projects the construction of which begins on or after 29 January 2023).
Between maintaining business continuity and keeping your workforce safe, we know there’s been little time to track the rapidly changing employment, compensation and mobility law landscape — in Illinois, across the US, and globally. This webinar, co-hosted by the Association of Corporate Counsel – Chicago Chapter on 12 January 2023, is designed to ensure that Midwest in-house counsel are up to speed on the top developments of 2022 and are prepared for what’s on the horizon in 2023.
Baker McKenzie’s Sanctions Blog published the alert titled G7 Sets Price Cap for Russian Oil at USD 60 Per Barrel on 9 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The strengthening partnerships between the United States and African countries is evident in recently announced initiatives that focus on sustainability and community empowerment and that provide reciprocal benefits for the citizens of both regions. Such initiatives include, for example, increased US support for climate, clean energy and infrastructure development projects in Africa, and programs that boost reciprocal trade and investment between the two regions.
On 6 December 2022, the US Department of Justice announced the unsealing of an 11-count indictment filed in the US District Court for the Southern District of Texas charging 12 individuals from Texas and Mexico in a violent conspiracy to monopolize the transmigrante industry in Texas.
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.
On November 26, 2022, the US Department of the Treasury’s Office of Foreign Assets Controls issued General License 41 authorizing Chevron Corporation to resume limited oil extraction operations in Venezuela and accompanying FAQs. According to the accompanying press release, OFAC issued GL 41 after Unitary Platform and President Maduro’s regime announced the resumption of negotiations; a humanitarian agreement focused on education, health, food security, flood response, and electricity programs that will benefit the Venezuelan people; and agreement on the continuation of talks focused on the 2024 elections. OFAC also issued an updated General License 8K extending certain limited wind-down activities with Petróleos de Venezuela SA until 25 May 2023.