We are pleased to provide this tracker, which identifies the relevant state-wide shelter-in-place orders and their related expiration dates, as well as the applicable state-wide reopening plans, in each of the 50 United States plus Washington, D.C. This week saw a dozen states extend their state-wide orders and/or the duration of the current phase of their reopening plans, five states imposed new mask mandates, and only two eased restrictions.
COVID-19 represents one of the greatest ever shocks to our economies and, in consequence, to the business models of financial institutions and the way they do business. While many changes to business processes and operations were already taking place prior to the pandemic, COVID-19 has given many added impetus and urgency. Decision-makers must choose between adapting a wait-and-see approach or implementing more proactive strategies to safeguard and, if possible, grow their businesses.
On 1 July 2021, President Putin signed one of the most significant bills of 2021 in Russia and in doing so turned Russian IT regulation on its head. The “Landing Law”, which regulates the activity of foreign IT entities in Russia, marks a new trend in the regulation of information technology in Russia.
The main development is that under the new law foreign information technology companies will be required to establish a physical presence in Russia.
In this special edition, Eva-Maria Segur Cabanac, a partner in our Vienna office and global sustainability lead for financial institutions, and Jennifer Klass, a partner in our New York office and co-chair of the financial regulation and enforcement practice in North America, talk with Ying Yi Liew on how the COVID-19 pandemic led to the prioritization of Environmental, Social, and Governance (ESG) considerations among financial institutions (FIs).
Cybersecurity from compliance to crisis – With the ever-increasing threat of ransomware and other cybercrime, we offer a bird’s eye view of cybersecurity strategy focused on addressing risks, keeping up with regulatory and compliance issues, and managing a cyber crisis.
In our Deciphering Data Webinar Series, we provide a global perspective of what’s keeping executives awake at night with the world’s threat actors becoming seemingly more sophisticated every day, and give practical guidance on how to address these risks and concerns and prepare companies for challenges ahead.
There was a massive increase in the value of mergers and acquisitions in sub-Saharan Africa (SSA) in the first half of 2021. This was due, in part, to the post-pandemic boost, where deals that were delayed last year, were able to proceed in 2021. Also spurring investment in SSA was the launch of the African Continental Free Trade Area, strengthening relationships with Africa’s key trading partners, as well as rising demand in key industry sectors such as materials, power and energy, technology and telecommunications.
Regulators around the world are seeking to strengthen governance frameworks to deter and prevent the perpetuation of employee misconduct and to stem the “rolling of bad apples.”
In this webinar recording, Eunice Tan and Grace Fung from our financial services regulatory team, and Zhao Yang Ng and Sonia Wong from our employment and compensation team discuss and analyze regulatory developments proposed by the Monetary Authority of Singapore and the Hong Kong Monetary Authority in meeting these objectives.
A series of briefings that take a “bite-size” look at international trends in different jurisdictions, drawing on Baker McKenzie’s expert financial services practitioners.
By National Law No. 27,640, published on 4 August 2021, the National Congress approved the new regulatory framework for biofuels that will be valid in Argentina from 5 August 2021 until at least 31 December 2030 (“Law”). The Law establishes, among others, new mandatory percentages of biofuels to be included in blends with fossil fuels reducing from 10% to 5% the prior percentage for biodiesel, granting more discretion to the enforcement authority, and establishing tax exemptions while repealing previous tax benefits.
On 19 May 2021, Supreme Decree No. 012-2021-EM was enacted, which approves the Regulation to Optimize the Use of Natural Gas and creates the Natural Gas Manager (“Regulation”) and modifies the Regulation of the Secondary Market of Natural Gas approved by Supreme Decree No. 046-2019-EM.