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United Kingdom/Brazil: New double tax treaty

by , and 10 Mins Read

On 7 September 2022, Brazil and the UK issued a joint declaration announcing the intention to start negotiating a double tax convention. This announcement came off the back of a number of years of discussion to progress both policy and technical issues – hence the treaty was able to be signed on 29 November 2022, within three months of that announcement. The treaty has not yet entered into force – this will happen upon completion of the legal procedures required by both countries, but it is not yet clear how long this will take.

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In AML & Financial Services Regulatory

Brazil: Federal Senate approves the final text of the Legal Framework for Cryptoassets

by , and 4 Mins Read

On 29 November 2022, the Plenary of the Federal Senate approved the final text of Bill of Law No. 4,401/2021 in which the Deputy Expedito Netto is the rapporteur. Currently, PL No. 4.401/2021 is in the final processing stage, which consists of the Brazilian president’s sanction. In summary, PL No. 4,401/2021 aims to regulate service providers of the “virtual assets” market (which includes the denominated “cryptoassets”), as well as adapt the wording of the Brazilian Penal Code, the Brazilian Law on Crimes against the National Financial System and the Brazilian Law on Crimes of Money Laundering or Concealment of Assets, Rights and Values.

In Anti-Corruption

Brazil: New decree regulates the Anti-Corruption Law at the São Paulo State level

by and 6 Mins Read

On 24 November 2022, Decree No. 67,301/2022 was published by the government of the state of São Paulo and provided for the administrative liability of legal entities for the practice of acts against the public administration in the city. The decree, which came into effect on the date of its publication, establishes the competence to judge administrative infractions and sets the jurisdictional authority to initiate an Administrative Liability Proceeding and the procedural norms for its execution.

In Antitrust / Competition

Brazil: Cartel victims able to seek double damages

by , and 3 Mins Read

After a long legislative process, a new Brazilian Federal law on cartel damages claims was enacted and entered into force (Law No. 14.470/2022) on 17 November 2022. The statute comes with new provisions that are expected to significantly increase incentives for these lawsuits in Brazil. According to the new statute, those who suffered damages due to cartel agreements and concerted practices affecting Brazilian markets will be able to reclaim twice the value of their losses.

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In Environment

Brazil: Public consultation on corporate emissions’ control and Proconve L8

by , , and 3 Mins Read

The Brazilian Institute of Environment and Natural Resources opened a public consultation regarding a new normative that regulates the control of corporate emissions and the management of pollutant emission credits for the Vehicle Emission Control Program’s L8 phase. The public consultation is in accordance with CONAMA Resolution No. 492/2018, which established the Proconve L7 and L8 phases, and aims to obtain input from stakeholders who will be involved in Proconve L8.

In Product Regulation & Liability

Multijurisdictional: 2022 Chambers Advertising & Marketing Practice Guide

by , , , , , , , , and 1 Min Read

Baker McKenzie was invited to serve as the global editor of the Chambers Advertising & Marketing 2022 Practice Guide which features 8 high-profile jurisdictions and provides the latest legal information on the impact of the COVID-19 pandemic, advertising claims and clinical studies, comparative advertising, social/digital media, influencer campaigns, consumer promotions, sports betting/gambling, and cryptocurrency and non-fungible tokens.

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Multijurisdiction: Ibero-American Network for the Protection of Personal Data – Standard contractual clauses for the international transfer of personal data

by , , and 3 Mins Read

On 27 September 2022, the Ibero-American Network for the Protection of Personal Data published the Guide for the Implementation of Standard Contractual Clauses for the International Transfer of Personal Data, which sets out certain aspects to be considered when making international transfers of personal data through the use of standard contractual clauses. The Guide includes non-binding guidance for those who make ITPD from member countries of the RIPD to non-adequate jurisdictions.

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In Brazil

The Provisional Measure 1,116 and Decree 11,061

by , and 4 Mins Read

Provisional Measure 1,116 was published on 5 May 2022. The measure implemented the ‘Programa Emprega + Mulheres e Jovens,’ a program to include and maintain women and young people in the labor market. Also published was Decree 11,061, which provides for the right to professionalization of underage and young people through professional learning programs.

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