On 25 April 2017, the Kyiv office of Baker McKenzie held a webinar on implementing efficient compliance programs in Ukraine for multinational companies and featured an update on Ukrainian sanctions and trade restrictions, including trade restrictions introduced in relation to Russia and the Crimea, as well as an update on Occupied Territories in the East of Ukraine.
On 2 March 2017 the National Agency on Corruption Prevention approved the Typical Anti-Corruption Programme for Legal Entities. Certain legal entities must adopt an Anti-Corruption Programme in line with the Typical Programme.
Since 2014, Ukraine has significantly enhanced its anti-corruption and trade sanctions legislation and enforcement practices to align with US and EU standards. Now companies face the risk of criminal liability for corruption-related actions of their employees and full suspension of all operations in Ukraine for violating trade sanctions and restrictions, including trade restrictions introduced in relation to Russia and the Crimea.
On 15 March 2017, the President of Ukraine enacted the decision of the Ukrainian National Security and Defense Council to impose sanctions on five Ukrainian banks with the capital of Russian state-owned b
Transparency International has launched its latest 2016 Corruption Perception Index. China’s ranking continues to improve, moving up by four places from last year’s rank of 83 to a rank this year of 79. Find out more about the other highlights.
In December 2016, Ukraine introduced a new procedure to the National Agency on Corruption Prevention before terminating an employee who was responsible for implementing the Anti-Corruption Program.
Baker McKenzie has created a one of its kind Anti-Corruption Risk-Map. The risk maps provide information on primary anti-corruption legislation and enforcement agencies, offences, defences and penalties in 55 countries.
Ukraine’s Parliament adopted a law which introduces a range of legislative amendments inter alia an increased liability of employers for preventing state labour inspectors from conducting audits.
On 17 October 2016, Ukraine imposed new personal sanctions against 335 Russian individuals and 167 entities, and extended the sanctions imposed in September 2015 for one more year.
After several years of development, involving input from over 50 countries, the International Organisation for Standardisation (ISO) has finally published ISO 37001: Anti-Bribery Management Systems Standard - a new international standard designed to assist organisations worldwide in implementing and maintaining effective anti-bribery systems.