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In Anti-Corruption

Australia: What you need to know about Political Donations Laws ahead of the 2022 Federal Election

by and 4 Mins Read

The federal election is slated for 21 May 2022 and it is important to be aware of your obligations when it comes to political donations to ensure you are compliant with any disclosure requirements under the Commonwealth Electoral Act 19189 (Cth) (“Electoral Act”).
Not only do offences under the Electoral Act carry fines but non-compliance with political donations laws can lead to significant reputational risk in an area that frequently makes headlines.
This federal election is also the first since reforms in December 2021 tightened the laws relating to political donations in relation to foreign donors.

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In Africa

Africa: Competition in Africa Report 2022

by and 2 Mins Read

Baker McKenzie’s latest Africa Competition Report (“Report”) is a collaborative effort between Baker McKenzie’s Africa-focused Competition team and its Africa Relationship Firms. The Report covers a detailed analysis and overview of recent developments in competition law enforcement and competition policy in 32 African jurisdictions and regional bodies. It considers not only recent developments in competition law enforcement and competition policy in each of the highlighted jurisdictions but also provides an overview of regulatory and legislative dynamics and challenges in selected markets.

In Belarus

EU: ECJ rules on the correlation between EU customs duties, excise and import VAT in a smuggling case

by and 2 Mins Read

On 7 April 2022, the ECJ issued its decision in the case C‑489/20 (UB vs Kauno teritorinė muitinė). UB arranged the unlawful introduction of cigarettes from Belarus to Lithuania. In September 2016, 6000 packages of cigarettes were thrown across the State border to be picked by vehicle on the other side. Lithuanian border officials managed to detain the vehicle carrying the cigarettes that same day.

In Anti-Bribery and Corruption

International: Clean as a whistle – Want to speed up your planning for the European Union’s whistleblowing regime?

by and 1 Min Read

Does your company not want to default on the implementation of the EU Whistleblowing Directive? Then do not wait any longer to start planning your organization’s whistleblowing regime. We have prepared a multijurisdictional analysis matrix covering five key areas with respect to whistleblowing laws in the form of a questionnaire. The questionnaire covers questions about the directive’s scope and implementation requirements for internal procedures, protection of whistleblowers and data privacy issues.

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In Corporate Compliance

United Kingdom: Future of disputes UK: Virtual programme

by , , , , , , , , , , and 4 Mins Read

Our Future of Disputes UK Virtual Programme brings speakers from leading in-house institutions – including AON, Gilead, GPW Group, HSBC, JP Morgan, Rio Tinto, Salesforce and Siemens – together with Baker McKenzie dispute resolution specialists to discuss key challenges in litigation, arbitration and investigations likely to arise over the next year. The upcoming webinars will take place on Wednesday 18 May and Thursday 19 May.

In AML & Financial Services Regulatory

Australia: APRA’s new regulatory expectations for crypto assets strengthen regional alignment

by , and 5 Mins Read

The Australian Prudential Regulation Authority (APRA) has set out its initial risk management expectations for regulated entities that engage in activities associated with crypto-assets, and a policy roadmap for the period ahead in a letter to industry. We explore the APRA proposals in more detail below.

In AML & Financial Services Regulatory

Global: Raising Cash in Uncertain Times

by , , and 1 Min Read

We have created this guide to give an overview of the key issues around secondary capital raising across almost 30 jurisdictions. As one of the world’s largest capital markets practices, with a presence across 77 offices in 46 countries, we can help clients to better understand their options and navigate the challenges that come with raising capital during uncertain times, no matter where in the world they are.

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In Corporate Compliance

United States: Practical Tips for International Procurement – Performing Overseas

by 1 Min Read

In this panel discussion with Tiffany McConnell King (Corporate Director and Division Counsel, Global Sustainment and Modernization, Northrop Grumman Corporation) and Kirk Foster (Assistant General Counsel and Director of Compliance and Privacy, HII Mission Technologies), Marilyn Batonga (Partner, Baker, McKenzie) and Maurice Bellan (Partner, Baker McKenzie), we uncover the latest trends and analyze enforcement actions related to international government procurement, focusing on risks based on conduct abroad as well as False Claims Act risks.

In AML & Financial Services Regulatory

United States: Beneficial ownership reporting – Part II

by , and 2 Mins Read

On 8 December 2021, Treasury issued Notice of Proposed Rulemaking to allow the public to review and comment on proposed regulations to implement the beneficial ownership information reporting provisions of the Corporate Transparency Act. Passed on 1 January 2021, the CTA imposes on so-called “Reporting Companies” the obligation to report to Financial Crimes Enforcement Network information regarding their “Beneficial Owners” and company “Applicants.”

In Corporate Compliance

European Union: The ‘Unshell’ Proposal

by , and 1 Min Read

Interested parties could, until 6 April 2022, provide their views to the EU Commission regarding the so-called Unshell proposal or ATAD 3. Many will have flagged the uncertainties about certain concepts and the need for more clarifications while others will also have indicated more substantial issues such as possible non-compatibility with EU Law. It remains to be seen whether the EU Commission will take (some of) these comments on board. Meanwhile, international groups should not rest on their laurels because it is likely that the Proposal will be adopted (as is or in an amended form) but rather start screening the European affiliates in their corporate structure, to identify possible issues under ATAD 3 and look for possible remedies.

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