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By means of Decree 493/21 published in the Official Gazette on 6 August 2021, a benefit of reduction of an employer’s social security contributions was established for the case of new hiring of personnel who participate, or have participated, in Educational, Vocational Training or Labor Intermediation Programs of the Ministry of Labor, Employment and Social Security.

In the framework of the global pandemic caused by SARS-CoV-2, and given both the decrease of cases and the increase of vaccination in Argentina, through Decree 494/2021, the National Government has established new preventive measures applicable between 7 August and 1 October 2021, inclusive, attuned to those that were last implemented by means of Decree 413/2021.

We are committed to creating cultures of integrity expanding through initiatives that help us strengthen ethics, compliance, and responsibility on a day-to-day basis with sustainable results. As a result we developed the Compliance Community Connect videos to help our clients and friends. Baker McKenzie Associate, Gerardo Calderon, talks about Antitrust in this second installment of Compliance Community Connect.

In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.

Through Resolution No. 706/2021, published on July 27 2021 and in effect as from that day, the Secretary of Energy created the “Liquefied Natural Gas Operators Registry” within the scope of the Undersecretariat of Hydrocarbons, dependent on the Secretary and the Ministry of Economy. The Resolution also regulated the requirements for granting LNG export permits for up to 20 years.

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 15 June 2021, Superintendency Resolution No. 000079-2021/SUNAT was published, approving the DESPA-PE.01.37 (version 1) specific procedure, which sets out the requirements and procedure for the proper application of tariff preferences under the Trade Agreement between Peru and the United Kingdom of Great Britain and Northern Ireland