On the country’s 76th Independence Day, Bank Indonesia announced its collaboration with the Bank of Thailand, Thailand’s central bank, for a trial of a cross-border QR payment linkage that is targeted to go live in Q1 2022.
The Office of the National Superintendent of Securities authorized the issuance of a minimum of 20 million investment units and a maximum of 40 million with a nominal value of VEF 100 and with a minimum investment amount of VEF 100,000 of the first collective investment entity specialized in the real estate sector, called Fibra One, which is promoted by Fintech Valores Sociedad de Corretaje.
On 20 July 2021, the Government issued Decree No. 70/2021/ND-CP amending certain articles of Decree No. 181/2013/ND-CP implementing the Advertising Law. In line with previous drafts, Decree No. 70 focuses on regulating cross-border advertising activities and revises the three main articles, Articles 13, 14 and 15, of Decree No. 181 accordingly. The amended Decree No. 181 will take effect on 15 September 2021.
On 30 June 2021, Verkhovna Rada of Ukraine adopted a new payment services law. The law seeks to: (i) remove certain regulatory barriers for entering the Ukrainian payment services market, and (ii) implement certain European Union laws applicable to the payment services, such as Directive 2015/2366 (PSD2) and Directive 2009/110/EC (Second E-Money Directive). The law came into force on 1 August 2021 and provides the stakeholders with 12 months to prepare for the launch of the new payment services market. The law may affect many business models in payment services business which were previously essentially unregulated.
In the last couple of years, we have observed an increase in transfer pricing audits and disputes in many countries in the MENA region, which have caught many MNEs by surprise, especially in countries where formal TP regulations are not in place yet.
This newsletter features updates such as the following:
• Colombian Congress enacts the Remote Work Law
• Colombian Congress enacts Law 2114 of 2021 on paternity leave, shared leave, flexible part-time leave and anti-discriminatory measures
• Colombian Congress enacts Law 2141 of 2021 on paternity protection and other provisions
Much of the focus in the world of employment last financial year was on the repercussions of lockdowns, restructuring, and remote work. There were however quite a number of important changes and decisions which employers may have missed. We set out in the attached Paper a calendar of key events, and also a checklist of tips for FY22.
Employers have been facing many difficult and untested employment law issues over the last year and a half with COVID-19 and the impact it is having on their business. One of the most critical of these issues is whether they can make vaccination compulsory for their employees. On 7 May 2021, the Saudi Ministry of Human Resources and Social Development (“MHRSD”) announced that it would be mandatory for public and private sector workers to be vaccinated in order to attend the workplace. On 18 May 2021, the Ministry of Interior (“MoI”) clarified that this mandate would come into force on 1 August 2021.
In this Quick Chat video, Baker McKenzie’s Labor and Employment lawyers discuss the new Federal guidelines based on the stop-light color system for States to follow when issuing regulations during the third wave of COVID-19 in Mexico. We also review changes to the criteria for employees to be considered vulnerable personnel, and share six tips for employers to keep in mind when implementing preventative measures in the workplace.
The emergence and subsequent spread of the Delta variant has led several countries, most notably the United States, into adopting more stringent health and safety protocols. On 29 July, President Biden declared that the US government would be imposing vaccination requirements in certain cases and offering additional incentives for its citizens to be vaccinated.