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Baker McKenzie’s Sanctions Blog published the alert titled BIS expands sanctions against Russia and Belarus and adds four countries to global export controls coalition on 12 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

The SEC’s recently released (and long-awaited) proposed rule changes that will require disclosure of climate-related risks are likely to have significant supply chain implications. The Proposed Rule would require listed companies to disclose information on climate-related risks and Greenhouse gas emissions; both of these disclosure categories include data related to corporate supply chains, and thus the Proposed Rule would essentially require public companies to obtain and analyze climate risks and climate impact data related to its upstream and downstream suppliers.

The first wave of retaliatory tariffs against certain Chinese-origin goods (the so-called Section 301 duties) are set to terminate under the Trade Act of 1974. By statute, the measures terminate after 4 years unless an affected party benefitting from the tariffs submits a request to the United States Trade Representative that the action be continued within the final 60-days of the 4-year period. Once such a request is submitted, the USTR must conduct a review and determine whether the action should be continued. The first round of the Section 301 retaliatory tariffs on products of China, commonly known as “List 1,” was effective July 6, 2018, which means a request that this action be continued would need to be “submitted” between May 7, 2022 and July 6, 2022 to trigger USTR to conduct its review.

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.”

An influx of high-profile whistleblowing cases have made headlines in recent years, and claims (and awards) are on the rise. At the same time, more defined and greater protections for whistleblowers are coming into play in the US, UK and European Union. It’s essential that multinational employers be aware of the whistleblower regulations proliferating across the globe and the notable differences between regimes.

Baker McKenzie’s Sanctions Blog published the alert titled US Issues Full Blocking Sanctions on Sberbank and Alfa-Bank; New and Amended General Licenses; New Investment Ban for Russia on 7 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled Canada Adds Nine Designated Belarusian Individuals, Prohibits the Provision of Insurance Services and the Export of Goods and Technologies Listed on the Restricted Goods and Technologies List to Belarus on 8 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled Canada Introduces Additional Designations on Nine Russian Individuals, Prohibits the Provision of Insurance, Reinsurance and Underwriting Services Relating to Russian Aircraft, Aviation and Aerospace Products on 8 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

On 30 March 2022, the Securities and Exchange Commission approved proposed rules relating to special purpose acquisition companies (SPACs) and released an accompanying fact sheet. Work on the final rules will begin following the public comment period, which ends on the later of 31 May 2022 and 30 days following the publication of the proposing release in the Federal Register.