Search for:
Category

Regulatory

Category
In Corporate Compliance

Venezuela: Legal Myths and Realities About Family Businesses

by 1 Min Read

Welcome to this Podcast called Legal myths and realities about family businesses. This space was created with the purpose of conducting a series of interviews dedicated to the main problems of Venezuelan Family Businesses, debunking myths and discussing their main legal problems in a globalized and increasingly sophisticated world. These conversations will be led by Jesús A. Villegas-Ruiz, Senior Associate of the Corporate and Compliance practice of Baker McKenzie Caracas. In the first chapter of this series of interviews, Jesús talks to Raúl Angulo, General Manager of TEALCA, C.A., about the problems of good corporate governance in decision-making in family businesses.

Read More
In Trade and Foreign Investment

European Union: Proposal for preliminary rulings in customs matters to be handled by lower EU General Court

by and 3 Mins Read

Requests for preliminary rulings made by courts of EU Member States have always been dealt with by the European Court of Justice. Over the years the CJEU handled numerous customs cases on tariff classification, customs valuation, origin and procedural customs law. Due to capacity restraints at the CJEU, an alternative distribution of jurisdiction between the CJEU and the lower EU General Court is proposed by the CJEU. More specifically, the CJEU requests that the EU Commission propose a change to the Treaty of the Functioning of the EU, such that preliminary ruling requests for, amongst others, VAT and customs matters, are to be submitted to the General Court.

In Product Regulation & Liability

Argentina: Increase in sanctions amount established in the Consumer Protection Law

by , , and 2 Mins Read

On 1 December 2022, both the National Budget Law No. 27,701 and the enactment Decree 799/2022 were published in the Official Gazette. The Law introduces important changes regarding the maximum applicable sanctions applicable in consumer defense matters, as well as regarding punitive damages.

In ESG

Latin America: FInsight: Sustainability for Financial Institutions

by and 2 Mins Read

As we embark on the journey towards net zero, financial institutions aspire to increase their understanding of Sustainability-related commercial and regulatory developments. We are inviting you to our upcoming webinar on 12 December 2022, which aims to cover global trends and highlight perspectives from Latin America.

Read More
In Data Privacy

United States: Virginia Consumer Data Protection Act takes effect in 2023

by , , and 9 Mins Read

Companies around the world have to comply with the Virginia Consumer Data Protection Act (VCDPA) with respect to personal data of consumers in Virginia. With the VCDPA, Virginia follows the California Consumer Privacy Act of 2018, as amended by the California Consumer Rights Act of 2020, but excludes employee and business representative data from its scope.

In AML & Financial Services Regulatory

Australia: Range of regulatory options awaits Buy Now Pay Later Providers

by , and 4 Mins Read

On 21 November 2022, the Treasury put out a call for submissions to assist with developing the Federal Government’s regulatory framework for buy now, pay later (BNPL) arrangements. The released options paper seeks to address the purported lack of oversight of the BNPL industry which has so far not been regulated in the same way as other forms of consumer credit under the National Consumer Credit Protection Act 2009. Pending stakeholder review, the paper seeks to strengthen the regulatory framework surrounding BNPL products and depending on the option adopted, may see them subject to the same regulations as credit cards or loan facilities.

In Corporate Compliance

Australia: Overview of the Australian Insolvent Trading Prohibition and the Safe Harbour Protections

by , and 1 Min Read

Directors of Australian companies face significant personal monetary – and potential criminal and adverse professional – consequences if they allow the company to trade whilst insolvent.
Australian insolvent trading laws are harsher, and more frequently utilized to prosecute directors personally, than in many other jurisdictions including in the US and the UK.

Read More
In

European Union: New EU rules on mandatory disclosure of cross-border tax arrangements by EU intermediaries

by and 7 Mins Read

On 25 May 2018, the Council of the European Union adopted a directive on the mandatory disclosure and exchange of cross-border tax arrangements. This is the sixth update of the Directive on Administrative Cooperation, therefore referred to as ‘DAC6’ and the disclosure regime is now live.
Under the new rules, intermediaries such as lawyers, tax advisors, and accountants that design, promote or implement certain ‘arrangements’, or that provide advice in relation to such arrangements, are required to report them to tax authorities.

In ESG

European Union: European Commission proposes Forced Labor Ban

by , , and 5 Mins Read

On 14 September 2022, the EU Commission published its proposal for a regulation introducing a ban on the placing and making available on the EU market or export from the EU market of products made using forced labor. Following on from Commission President von der Leyen’s announcement of the proposed ban in her State of the Union Address last year, under the proposed regulation, products found to have been made using forced labor cannot be sold in, exported from or imported into the EU.

In Corporate Compliance

United Kingdom: Supreme Court confirms existence of directors’ “creditor duty”

by , and 8 Mins Read

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

Read More
Load More