Hong Kong: Proposed re-domiciliation regime
Baker McKenzie
by Grace Tso, Martin C.W. Tam, Carrie Lui, Frank Meier and Bryan Wan
2d ago
On 20 December 2024, the Hong Kong government gazetted the Companies (Amendment) (No.2) Bill 2024 ("Bill") which introduces Hong Kong's long awaited inward re-domiciliation regime. The Bill was introduced to the Legislative Council on 8 January 2025 and once enacted, will enable non-Hong Kong incorporated companies to relocate their domicile to Hong Kong, while maintaining their legal identity and business continuity. The post Hong Kong: Proposed re-domiciliation regime appeared first on Global Compliance News ..read more
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US Supreme Court lifts injunction on Corporate Transparency Act, reporting requirements still on hold
Baker McKenzie
by Glenn Fox, Terence Gilroy and Justin M. Whittenburg
2d ago
On 23 January 2025, the US Supreme Court granted the US government’s application to end the nationwide preliminary injunction against enforcement of the Corporate Transparency Act (CTA) issued by the District Court in Top Cop Shop on 3 December 2024. This injunction is currently on appeal with the Fifth Circuit. However, a separate nationwide order that also stayed the CTA beneficial owner reporting deadline remains in place. This order was issued by a different federal judge in Smith v. US on 7 January 2025. The post US Supreme Court lifts injunction on Corporate Transparency Act, reporting r ..read more
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Philippines: DOLE issues new rules and regulations on the employment of foreign nationals in the Philippines
Baker McKenzie
by Miguel Antonio H. Galvez and Renson Louise C. Yu
2d ago
On 21 January 2025, the Department of Labor and Employment issued Department Order No. 248, series of 2025 or the "New Rules and Regulations on the Employment of Foreign Nationals in the Philippines" ("New Rules"), which provides for the rules regulating the employment of foreign nationals in the Philippines. The New Rules shall take effect fifteen (15) days after its publication in the Official Gazette or newspaper of general circulation. As of the date of this writing, the New Rules has not been published in the Official Gazette or any newspaper of general circulation. The post Philippines ..read more
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United States: DOJ & FTC – New Antitrust Guidelines for Labor Issued as Biden-Harris Administration Clocks Out
Baker McKenzie
by Jeffrey (Jeff) D. Martino, Ashley Eickhof, Darley Maw and Stephen Loertscher
2d ago
On January 16, 2025, the Department of Justice and the Federal Trade Commission replaced the 2016 Antitrust Guidance for Human Resource Professionals. The new guidelines now titled, Antitrust Guidelines for Business Activities Affecting Workers, reaffirm the major points of the 2016 guidelines. Wage-fixing and no poach agreements remain illegal and sharing wage information may violate the antitrust laws. However, the new guidelines identify a slew of other agreements and practices that can violate antitrust laws, including franchisee agreements with employment restraints, non-compete clauses ..read more
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Indonesia: The future of financial conglomeration — Understanding the latest regulatory changes
Baker McKenzie
by Erwandi Hendarta, Mahardikha K. Sardjana, Eddie Prabowo Dewanda, Amanda Besar and Theresia Fransmanto
2d ago
The Financial Services Authority (Otoritas Jasa Keuangan or OJK) has finally unveiled the much-anticipated implementing regulation for the new chapter of financial conglomeration. OJK Regulation No. 30 of 2024 on Financial Conglomeration and Financial Holding Company governs the establishment or appointment of a financial holding company (perusahaan induk konglomerasi keuangan or PIKK) - a legal entity tasked with controlling, consolidating and overseeing all of the financial conglomerate's activities. This regulation was promulgated and became effective on 23 December 2024. The post Indonesia ..read more
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Germany: Circularity Made in Germany – The national circular economy strategy has been adopted
Baker McKenzie
by Dr. Katharina Weiner, Dr. Janet Kerstin Butler and Dr. Andreas Neumann LL.M.
2w ago
On 4 December 2024, the Federal Cabinet adopted the comprehensive German National Circular Economy Strategy (NCES). The NCES bundles all of Germany's goals and measures on the path to a holistic circular economy with the "Circularity Made in Germany" seal. The implementation of the NCES includes the following: The establishment of a circular economy platform involving all stakeholders; the development of a Roadmap 2030 to concretize the goals and measures formulated in the NCES; the establishment of a monitoring and evaluation system as well as resolutions on financing. The initiative offers n ..read more
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Belgium: Private Investigation Act — How it impacts your internal investigations
Baker McKenzie
by Elisabeth Dehareng and Caroline Serbanescu
2w ago
Belgium's new Private Investigation Act (PIA) was published in the Official Gazette on 6 December 2024, with most of its provisions having entered into force on 16 December 2024. The PIA replaces the 1991 Belgian Act on Private Detectives with the aim of modernizing the applicable legal framework in light of new investigation methods and the application of the General Data Protection Regulation. With its broader scope of application – this legislation is now also applicable to internal investigations – and the significant additional requirements it imposes, the PIA will undoubtedly impact many ..read more
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United States: DOJ & OSHA – NDAs Can’t Silence Whistleblowers
Baker McKenzie
by Ashley Eickhof, Jeffrey (Jeff) D. Martino, Stephen Loertscher, Darley Maw and Natalie Flores
2w ago
On January 14, 2025, the Department of Justice, Antitrust Division and Department of Labor, Occupational Safety and Health Administration issued a Joint Statement, asserting that non-disclosure agreements (NDAs) undermine whistleblower protection laws, including the Criminal Antitrust Anti-Retaliation Act (CAARA), when they deter or prevent an employee from coming forward. The Antitrust Division noted they are focused on allowing individuals to report antitrust violations without the fear of retaliation. The Joint Statement also warns against using NDAs as an improper shield to obstruct an inv ..read more
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United States: Bipartisan House Task Force on AI releases report with AI innovation principles and recommendations
Baker McKenzie
by Cynthia Cole, Rachel Ehlers and Arlette Kagaba
2w ago
On 17 December 2024, the Bipartisan House Task Force on Artificial Intelligence released a report on "guiding principles, forward-looking recommendations, and policy proposals to ensure America continues to lead the world in responsible AI innovation." The report focuses on 15 key areas, including intellectual property, data privacy, healthcare and federal preemption of state law. These principles, recommendations and policy proposals are meant to be a tool rather than the final word on AI. As such, it is anticipated that future AI legislators will use the report to craft AI policy. The post U ..read more
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United Arab Emirates: Enacts new pharma law to boost pharmaceutical innovation
Baker McKenzie
by Hani Naja, Laya Aoun-Hani, Els Janssens and Rony Eid
2w ago
On 1 October 2024, the UAE Government has issued a new Federal Decree-Law No. 38 of 2024 to regulate medical products, the pharmacy profession and pharmaceutical establishments (the "Law"). The Law replaces Federal Law No. (8) of 2019 on Medical Products, Pharmacy Profession and Pharmaceutical Establishments including its later amendments. However, its implementing regulations remain in effect to the extent they do not contradict with the Law. The post United Arab Emirates: Enacts new pharma law to boost pharmaceutical innovation appeared first on Global Compliance News ..read more
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