On 29 April 2024, the Chamber of Deputies approved the bill that the executive branch had sent to Congress as a new draft of the “Bill of Bases and Points of Departure or the Freedom of Argentines,” along with the tax reform package.
The Colombian Tax Office (“DIAN”) and the Superintendence of Companies have entered into an inter-administrative agreement for the exchange of information related to the Ultimate Beneficial Owner Registry, to strengthen the inspection and control functions of these entities and their investigative powers.
On 26 April 2024, the Brazilian Data Protection Authority (ANPD) published the Resolution CD/ANPD no. 15 which approved the Regulation on Notification of Security Incident (“Regulation”). Such Regulation sets forth the mandatory procedures that data controllers must follow when notifying security incidents to ANPD and personal data subjects.
According to Law No. 13,709/18 (Brazilian General Data Protection Law, or LGPD), the controller must notify the occurrence of a security incident that may give rise to relevant risk or damage to data subjects not only to ANPD, but also to the data subjects.
The Superintendence of Industry and Commerce through Resolution No. 17526 of 2024 established the new fees for merger control procedures applicable during 2024. The parties must pay the applicable fee depending on the type of procedure: fast track notification, pre-assessment request phase I or pre-assessment request phase II. These new fees will be effective as of the date of publication of the resolution and the amount must be paid prior to the filing of the application before the SIC.
On 21 March 2024, the National Government issued the Decree 390 of 2024, by which it established the procedure for granting the Leniency Program in transnational bribery and corruption (“Leniency Program”) matters. Under the Leniency Program, it is possible to obtain full or partial immunity from possible sanctions for corruption and transnational bribery. In order to obtain the benefits of the Leniency Program, the company must provide relevant information on the aspects of the commission of such acts and the benefits obtained.
By means of Resolution No. 12/2024, published in the Official Gazette on 24 April 2024 (“Resolution”), the Secretariat of Industry and Commerce amended the regime of advertising of goods and services involving an offer to an undetermined audience; it also repealed Resolution No. 915/2017. The Resolution’s main purpose is to modify the regulations governing advertisements so that they are clearer, more understandable, and useful for consumers. The aim is to simplify the current regime and prevent consumers from being “over-informed,” which could make it difficult for them to make appropriate purchasing decisions.
Thanks to its proximity to the United States, Mexico has become an attractive investment hub. Mexico’s manufacturing capabilities align well with this trend, positioning the country favorably to seize the opportunity. We hope that this guide will give you an initial perspective into the fundamentals of ramping up operations in Mexico.
The Brazilian Institute of the Environment and Renewable Natural Resources (IBAMA) established a new way of calculating the Environmental Control and Inspection Fee (TCFA) and, as of the first quarter of 2024, the economic size to be declared by subsidiaries will be the economic size of the parent company and the subsidiary jointly, considering the annual gross income of the legal entity as a whole for the basis for calculating this fee.
By means of Decree No. 302/2024, published in the Official Gazette on 10 April 2024 (“Decree”), the National Executive Branch (PEN for its acronym in Spanish) has amended Argentine Digital Law No. 27,078 and repealed Decree No. 690/2020.
The Decree’s main purpose is to free the market and to develop Information and Communication Technology Services, allowing licensees to freely set prices, which shall be fair and reasonable; cover the operation costs; and aim at efficient provision and a reasonable operating margin.
The rise of conscious consumerism has led to consumers actively seeking out sustainable, environmentally friendly and ethically produced goods. In response to this growing demand, many consumer goods and retail (CG&R) companies have embraced sustainability and green credentials as a marketing tool, but is this greenwashing? Baker McKenzie produced this guide to outline the legal landscape, regulations and key actions CG&R companies can take to mitigate the risks associated with greenwashing claims in Latin America.