On 20 July 2021, the UK Government announced that the National Security and Investment Act will enter into full force on 4 January 2022. To help businesses prepare for commencement of the regime, the Government also published alongside this announcement a series of further guidance notes and materials.
There is a gold rush in tech M&A and the gold is talent to develop and integrate artificial intelligence (AI) technology. Faced with a shortage in skilled employees, buyers are using “acquihires,” a discreet M&A strategy that oftentimes flies under the news radar, to bolster AI benches.
This report, the fourth in our Asia Pacific Business Renewal Series, explores how businesses are now fortifying their ESG efforts and pivoting from strategy to action. As businesses integrate ESG action into business renewal, there is an imperative to mitigate risks and pre-empt regulatory and compliance complexities amid uneven recovery and progress across jurisdictional and sectoral landscapes in the region.
On 12 July, the European Commission and the European External Actions Service published guidance on “due diligence for EU businesses to address the risk of forced labor in their operations and supply chains.” The non-binding guidance seeks to provide European companies with practical advice on the implementation of effective human rights due diligence practices to address forced labor risks in their supply chains.
The Virtual Global Trade Conference is a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade, in nine one-hour sessions which took place from 13 to 15 July 2021.
There has been a rise in cases in which The Stock Exchange of Hong Kong Limited suspends trading in issuers’ shares because they have failed to comply with Rule 13.24 of the Main Board Listing Rules. Rule 13.24 requires an issuer to maintain a sufficient level of operations and assets of sufficient value to support its operations to warrant the continued listing of the issuer’s securities. The Court of Appeal in China Trends Holdings Limited v The Stock Exchange of Hong Kong Limited  HKCA 980 again upheld the Stock Exchange’s decision to suspend trading in an issuer’s shares pursuant to the equivalent of Rule 13.24 under the GEM Listing Rules. The Court of Appeal highlighted the court’s reluctance to interfere with the market regulators’ application of Rule 13.24 and clarified the application of this rule.
The Italy: Financial Services Regulatory Newsletter contains an updated summary of the most recent regulatory developments for Italy. It covers topics such as FinTech, corporate governance, and supervisory requirements.
Our matrix summarizes the key issues for employee share and cash awards and covers tax, securities, exchange control, labor law and data privacy considerations for such awards in 50 countries.
In the recent flurry of US Government activity related to Xinjiang, one thing is clear: trade compliance risks continue to increase for companies with supply chains that involve Xinjiang. These latest actions add to the expanding list of companies that face import bans, export bans, and sometimes both, in addition to broader measures under consideration in Congress. This blog post summarizes the past month’s developments.
On 15 June 2021, the Parliament of Ukraine adopted a law commonly referred to as the Tax Amnesty Law1 (“Law”), which introduces voluntary disclosure program with respect to unreported taxable income and assets. On 21 July 2021, the Law entered into force. By its terms, the tax amnesty will be available from 1 September 2021.