In brief The UK’s Financial Conduct Authority (FCA) plays a key role in monitoring how UK-regulated financial institutions guard against financial crime risks, and how effectively they implement financial crime policies and procedures. In recent months, as the UK and other governments have placed increasing focus on preventing the circumvention…
We are pleased to announce that Baker McKenzie has published the FY24 edition of Directors Duties in Australia.
Matters covered in the guide include common law and statutory duties, financial reporting, continuous disclosure, insider trading and other topical issues including managing environmental and cyber security risk.
On 20 July 2023, the Luxembourg Parliament adopted a law reforming the right of establishment in Luxembourg (“Reform”). It amends the Luxembourg law dated 2 September 2011 regulating access to the professions of craftsperson, trader, manufacturer and certain liberal professions as amended (“Business License Law”).
The Reform aims to adapt the Business License Law to embrace the changes in the regulatory, economic, technical, technological, entrepreneurial and artisanal environments and to stimulate entrepreneurship.
Baker McKenzie’s recent victory in the United States Supreme Court in Yegiazarian v. Smagin, 143 S. Ct., 1900 (22 June 2023), opens the door for non-US plaintiffs to pursue RICO claims when seeking to enforce a judgment or assert claims against U.S . parties or assets. Although the plaintiff in this case was the holder of a foreign arbitration award, the Court’s holding suggests that any foreign plaintiff asserting a claim against or seeking to recover U.S. property will have legal standing to pursue civil claims under federal RICO statutes, and potentially recover treble damages and attorneys’ fees.
The Online Criminal Harms Bill was passed in parliament on 5 July 2023, after its second reading. The bill follows a suite of legislation aimed at protecting the public from harms in the online space and introduces mechanisms for authorities to more effectively tackle online criminal activity.
Welcome to the 2023 edition of Baker McKenzie’s Doing Business in Canada, a practical guide to the business and investment legal framework and developments in Canada. We hope that you find this guide a useful and practical resource.
In June 2023, the Johannesburg Stock Exchange (JSE) proposed amendments to the JSE Listings Requirements including a new section which contains the listing requirements of the Black Economic Empowerment (BEE) Segment of the JSE. Among other things, these requirements include that trading in BEE securities must be restricted to a BEE-compliant person pursuant to the use of either a BEE contract or a BEE verification agent. The JSE has invited comments on the proposed amendments by 17 July 2023.
On 13 May 2023, Law No. 31740, which amends Law No. 30424 regulating the administrative liability of legal entities, was published in the Official Gazette, El Peruano.
In today’s global marketplace, disputes are growing in number and complexity. Businesses are facing intense competition and must manage the risks and challenges in doing business locally and internationally. Higher accountability standards and tighter regulatory scrutiny increase exposure and vulnerability.
In lieu of our annual conference in Bellevue, WA, we are excited to again provide a Virtual Global Trade Conference available to all our clients and friends worldwide! The conference will be comprised of 90 minutes sessions over the course of two days. Join us on July 12 and 13 for any or all of the sessions and learn from our panel of experts as they share their insights on cutting-edge trade trends, regulatory updates and challenges, and major policy developments.