Foley - Corporate Social Responsibility
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Foley Hoag's unique Corporate Social Responsibility (CSR) practice was launched in 2000 and provides counsel to multinational companies, governments, and multilateral institutions regarding social, political, and environmental challenges.
Foley - Corporate Social Responsibility
1y ago
Nine months after the Uyghur Forced Labor Prevention Act (UFLPA) went into effect, the Biden Administration shows no signs of easing up on its tenacious enforcement of the Act’s import ban. At the same time, the Administration’s approach is still developing and it will take more data collection, multi-stakeholder information sharing, as well as insights from U.S. Customs and Border Protection’s (CBP) own shipment reviews before industry sees a more predictable and stable enforcement regime.
In effect since June 2022, the UFLPA amended Section 307 of the Tariff Act by providing CBP with p ..read more
Foley - Corporate Social Responsibility
1y ago
Key Takeaways:
Starting on June 21, 2022, all goods produced in whole or in part in the Xinjiang region or by entities on the UFLPA Entity List will be presumed to be made with forced labor and will be prohibited from entry into the U.S.
Importers must provide “clear and convincing” evidence to CBP to rebut the presumption of forced labor.
Guidance recently released by the Biden administration describes the documentation and supply chain due diligence required to release a detained shipment.
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On June 13, 2022, the U.S. Depa ..read more
Foley - Corporate Social Responsibility
1y ago
Key Takeaways:
U.S., UK, and EU impose additional sanctions in response to Russia’s continued escalation of conflict in Ukraine
U.S. imposes sanctions on human rights violators and senior Russian defense officials
UK sanctions over 370 Russian individuals, including 51 oligarchs and their family members
EU imposes investment and trade restrictions and sanctions Russian oligarchs, propagandists, state-owned entities, and defense sector entities
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On March 15, 2022, the U.S., UK, and EU announced new sanctions against various i ..read more
Foley - Corporate Social Responsibility
1y ago
Key Takeaways:
The Biden administration announces ban on import of Russian energy commodities and prohibition on new investment in the Russian energy sector
New General License provides wind-down period until April 22, 2022 for certain energy imports from Russia pursuant to agreements entered into before March 8, 2022
EU and UK expand their sanctions programs against Russia and Belarus, including additional sanctions on oligarchs
FinCEN issued an alert to all financial institutions to be vigilant against efforts to evade the expansive sanctions and other restrictions imposed in conn ..read more
Foley - Corporate Social Responsibility
1y ago
On February 3, Senators Josh Hawley (R-MO) and Kirsten Gillibrand (D-NY) introduced the Slave-Free Business Certification Act of 2022. The legislation aims to provide U.S. policymakers with greater assurances that companies are taking concrete steps to eradicate forced labor where their supply chains directly involve workers’ inputs, but would also significantly increase their due diligence burdens. Pursuant to the legislation, covered business enterprises would be required to conduct independent audits of their “direct” supply chains to determine if they involve forced labor.
The ..read more
Foley - Corporate Social Responsibility
1y ago
Key Takeaways:
U.S. imposes additional sanctions on Russian elites, along with their family members, companies, and personal vehicles
Actions targeting the defense sector and Russian government-affiliated media outlets signal the expansion of U.S. sanctions to new industries
SWIFT access to be denied to seven Russian banks on March 12, 2022
New export controls target Belarus and further restrict export of items that use encryption to Russia and Belarus
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I. Sanctions Target Russian Elites, Disinformation Outlets, and Defense ..read more
Foley - Corporate Social Responsibility
1y ago
Key Takeaways:
New Directive 4 prohibits transactions with Russian Central Bank, National Wealth Fund, and Ministry of Finance
Full blocking sanctions on Russian Direct Investment Fund and affiliates
Multi-lateral response to Russia’s invasion continues with unprecedented imposition of sanctions by Switzerland and Monaco
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On February 28, 2022, the U.S. government announced new sanctions on the Central Bank of Russia, National Wealth Fund, Ministry of Finance, and Russian Direct Investment Fund, dramatically increas ..read more
Foley - Corporate Social Responsibility
1y ago
Key Takeaways:
The U.S., EU, and UK are coordinating a significant sanctions and export controls package to be implemented if Russia takes further action in Ukraine.
Restrictions are likely to target key Russian industries including finance, energy, and defense and would be far more severe and far-reaching than past sanctions.
New export controls could include restrictions on foreign-produced items made using U.S.-origin technology or software, and a possible ban on a significant range of exports to Russia from the U.S. and its allies.
Individuals or companies with business interests or inves ..read more
Foley - Corporate Social Responsibility
1y ago
On January 7, New York State Senator Alessandra Biaggi (D) and Assemblywoman Anna R. Kelles (D) introduced the Fashion Sustainability Act into the New York State Legislature. If passed and signed into law, the Act would create significant reporting requirements related to environmental sustainability, social development (in particular worker rights), and ethical business (ESG) standards for retailers and manufacturers. In all, the legislation would include enforcement “teeth” in the form of monetary and reputational penalties for industry non-compliance.
The sponsors of the Fashion ..read more
Foley - Corporate Social Responsibility
2y ago
Key Takeaways:
Starting on June 21, 2022, all goods produced in whole or in part in the Xinjiang region or by entities on the UFLPA Entity List will be presumed to be made with forced labor and will be prohibited from entry into the U.S.
Importers must provide “clear and convincing” evidence to CBP to rebut the presumption of forced labor.
Guidance recently released by the Biden administration describes the documentation and supply chain due diligence required to release a detained shipment.
_____________________________________________________________________
On June 13, 2022, the U.S. Depa ..read more