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During the current pandemic crisis many companies within the Financial Services Industry (FSI) are struggling to balance the various countries’ COVID-19 relief measures with the very strict EU regulatory requirements that govern remuneration within the sector. An important question in this respect is whether application for COVID-19 relief implies that no, or lower variable remuneration may be paid, and if so, whether this only applies for Identified Staff or for all employees.
On 4 May 2020 the European Data Protection Board (EDPB) adopted updated guidelines on consent under the GDPR (“New Guidelines”). The New Guidelines supersede the guidelines on consent originally adopted by the EDPB’s predecessor, the Article 29 Working Party, on 10 April 2018 (the 2018 Guidelines), and subsequently endorsed by the EDPB.
Companies must be diligent to ensure that any facility restart is being implemented in compliance with applicable environmental requirements. While there has been some guidance at the federal and state level providing enforcement discretion for non-compliance and identifying circumstances where noncompliance will not be punished, compliance with permits and environmental regulations is expected even when circumstances have made it difficult because of COVID-19. Further, those policies have been criticized and challenged by environmental NGOs and some states, and companies should exercise caution when relying on them.
This webinar addresses the particular needs of financial institutions facing a variety of new challenges in complying with international sanctions. Speakers from Baker McKenzie’s international sanctions and regulatory teams shall be discussing the development of increasingly complex and in some cases competing sanctions laws in different jurisdictions.
On 16 April 2020, the Hong Kong Competition Commission introduced significant reforms to its leniency policies, publishing substantial revisions to its corporate leniency policy aimed at businesses (Revised Corporate Leniency Policy) and a new leniency policy aimed at individuals (Individual Leniency Policy).
The recently announced Large Employer Emergency Financing Facility (LEEFF) will require loan recipients to report on climate change and sustainability-related risks and opportunities. This reporting will likely require companies to develop forward-looking plans to contribute to Canada meeting its net-zero by 2050 goal under the Paris Agreement.
The uncertainty among producers within the waste diversion industry in Canada over the coming change from an industry-funded organization (IFO) fee-based model to an individual producer responsibility (IPR) regime for “brand holders” has principally focused upon those various regulated waste streams at the centre of mandatory diversion
On 1 October 2019, the European Commission (EC) adopted a package of Ecodesign measures which, for the first time, include requirements for repairability and recyclability for household products. These requirements seek to contribute to the EU’s circular economy objectives by improving the life span, maintenance, re-use, upgrade, recyclability and waste handling of appliances.
On 5 May 2020, the EU & Competition team of the Stockholm office sent out a newsletter regarding some of the most important Swedish changes and initiatives taken within the areas of competition law, public procurement and state aid in the wake of Covid-19.
As part of its “war on pollution”, China recently issued its first law addressing soil pollution, the Law on the Prevention and Control of Soil Pollution, which will take effect on 1 January 2019.
