Hong Kong controls dual-use items under the Import and Export Ordinance and its corresponding subsidiary legislation, the Import and Export Regulations. On 17 September 2021, an order to amend the list of strategic commodities under relevant schedules to the IESCR came into effect. The amendments aim to align Hong Kong’s control list with international non-proliferation regimes, including the Wassenaar Arrangement.
US federal government agencies charged with implementing President Biden’s February 24, 2021 Executive Order 14017 continue to assess supply chain risks and vulnerabilities by issuing public requests for comment. Among other things, the Supply Chain EO directs the heads of several federal agencies to conduct a one-year review to examine supply chains for potential vulnerabilities in a number of sectors.
On 1 August 2021, the regulatory framework for Advanced Therapy Products (ATPs) came into operation in Hong Kong. ATPs, which are innovative medical products based on genes, cells and tissues that have been subject to ‘substantial manipulation’ or are intended for non-homologous use, have been added to the definition of ‘pharmaceutical products’ under the existing Pharmacy and Poisons Ordinance and its subsidiary legislation, the Pharmacy and Poisons Regulations.
On 31 August 2021 the European Commission launched a consultation on the operation of Commission Implementing Regulation (EU) 520/2012 on pharmacovigilance activities targeted at stakeholders involved in such activities.
17 December 2021 is the deadline for all Member States to transpose the new Whistleblower Protection Directive 2019/1937, which obliges businesses with over 50 employees to have a reporting channel. It should be noted that the aim of these new regulations is to exploit the potential for whistleblower protection to strengthen enforcement and set standards for strong protection against any reprisals.
This is a reminder that 30 September 2021 is the legal deadline for companies that receive foreign investment and that have assets or equity exceeding BRL 250 million to comply with the Declaration of Economic and Financial Information by submitting their financial data related to the base-date of 30 June 2021 in the Central Bank’s System, as per Resolution No. 3,844 of 23 March 2010 of the Brazilian National Monetary Council and Circular No. 3,814 of 7 December 2016 of the Central Bank.
3 June 2021, the Law for Transparency, Prevention and Combating Improper Practices in Advertising Contracting (“Advertising Law”) was published in the Official Gazette1. The new Advertising Law went into effect on 1 September 2021. The Mexican Competition Authority (COFECE) issued Emergency Regulations, establishing the procedures for filing a complaint, the investigatory process, and ruling for complaints of violations under the new Advertising Law.
ESG (Environmental, Social, and Governance) considerations are growing in importance for companies and businesses globally, so much so that we have now arrived at the point where ESG has become one of the key priorities in boardrooms everywhere. Regulations are emerging, the pressure from stakeholders is increasing, and consumers are becoming more conscious of ESG issues, which is influencing their purchasing decisions as noted recently by the Head of Marketing at a Thai consumer goods company, “Consumers increasingly want to purchase products from organizations that are good at achieving their ESG goals
Chile has been identified as a global power in terms of green hydrogen production, mainly due to the competitive advantage of low-cost renewable energy production, such as solar and wind energy, as well as due to its small area, which facilitates and reduces the costs in terms of infrastructure and the transportation of energy from source.
In this episode of FInsight, Baker McKenzie partners Daniela Fonseca Puggina from our Miami office and Jennifer Semko from our Washington D.C. office discuss litigation readiness for FIs. The episode also covers potential vulnerabilities and disputes that they need to prepare for, current and emerging trends in litigation (from our Litigation Intelligence Tool and Report), and how they can benefit from litigation preparedness.