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The European Commission published a White Paper proposing to create three new review mechanisms aimed at addressing the potential distortive effects caused by foreign subsidies in the Single market generally; in acquisitions of EU companies; and during EU public procurement procedures. A public consultation is now open until 23 September 2020 during which stakeholders can provide their views on the options set out in the White Paper.
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.
Our Global PIPE Guide sets out a comparison of the key features and requirements applicable to PIPE deals in a number of jurisdictions around the globe.
From 12 July 2020 the Regulation (EU) 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting fairness and transparency for business users of online intermediation services (P2B Regulation) will apply. It will have direct effect in EU member states. Providers of online intermediate services and providers of online search engines that provide their services to businesses in the EU with activities vis-à-vis consumers in the EU should determine whether they are subject to the P2B Regulation and if so, prepare for the new rules of the P2B Regulation.
The Idaho Supreme Court affirmed a District Court’s judgment that the gain from the sale of a 78.54% membership interest in a limited liability company did not constitute ‘business income’ under Idaho Code section 63-3027.
The Autonomous Service of Registries and Notaries published on June 14, 2020 in its website’s news section and in its social media1 an announcement about the incorporation of Commercial Registries, Public Registries, Public Notaries and Principal Registries to the 7+7 easing timetable established by the National Executive. The 7+7 easing timetable consists of seven quarantine days per seven easing days, until there is a vaccine for COVID-19. Registries and Notaries will only open in specific work hours within the seven days of the easing period.
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.
