Please join us for a weekly series, hosted by Baker McKenzie’s North America Government Enforcement partners Jeffrey Martino and Jerome Tomas. This week’s discussion will cover the Public Company Accounting Oversight Board (PCAOB) Statement of Protocol Agreement with the China Securities Regulatory Commission, and the China Ministry of Finance regarding oversight of PCAOB-registered public accounting firms in China and Hong Kong.
With a growing trend toward taking more ESG measures, some companies are at risk of lawsuits from consumers involving plastic packaging. In light of these trends, corporate boards should take steps to reduce the risk of ESG litigation in connection with their companies’ plastic recyclability labeling and use of plastics within their supply chains.
Baker McKenzie’s Sanctions Blog published the alert titled Ukraine: The law on cancelling marketing authorizations due to ties with Russian/Belarusian pharmaceutical manufacturing became applicable on 24 August 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
As one of the largest Swiss lending teams, we compile our hot lending topics every year in a short and readable way. The overview covers LIBOR transition 2.0, new corporate law, sanctions, ESG lending, and collateral in tokens. We hope you will enjoy reading our overview.
On 16 August 2022, the Health Sciences Authority issued an update on products that were found by overseas regulators to contain potent ingredients. Such potent ingredients are banned from health products as they may cause certain side effects.
In the month of August 2022, the Health Sciences Authority issued several retail-level recalls in respect of therapeutic products and Chinese proprietary medicines that were in breach of applicable healthcare regulations.
EUR 4.30 instead of EUR 9.52 per gram: The reimbursable base price for medical cannabis cultivated in Germany has been almost cut in half whereas the base price for imported cannabis flowers remains unaffected. According to an arbitration ruling of 17 June 2022, a base price of EUR 4.30 (plus surcharges of 90% or 100%) per gram is reimbursable for cannabis flowers cultivated in Germany. Prior to the ruling, statutory health insurance funds reimbursed a base price of EUR 9.52 per gram plus varying surcharges for all cannabis flowers. This also applied to cannabis flowers cultivated in Germany and sold to pharmacies for a fixed price of only EUR 4.30 per gram.
The Annual Compliance Conference begins next week and attracts over 6,000 in-house senior legal and compliance professionals from across the world. This leading compliance conference will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments:
• anti-bribery
• corruption and economic crime
• customs and FTAs
• ESG, supply chain and product compliance
• antitrust and competition
• export controls, sanctions and foreign investment
Click here to view the full agenda and register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.
With Law No. 108 of 5 August 2022 (converting Decree-Law No. 68 of 16 June 2022 into law, with amendments), the Italian government introduced a favorable regime for authorized car distributors that will have a major impact on the sector. The new legislation applies to all vertical relationships between the manufacturer or importer of vehicles and the authorized distributor for the sale of vehicles that have not yet been registered, as well as vehicles that have been registered by the authorized distributors for not more than six months and have not traveled more than 6,000 kilometers.
South Africa is an African fintech frontrunner, with several recent regulatory developments taking center stage as the country prepares to fully adopt fintech and its various sub-segments. South Africa also has specific compliance and due diligence issues that must be addressed before and during fintech transactions.