by Juan Manuel González | Apr 3, 2023 | Noticias-en
The Office of the U.S. Trade Representative (USTR) is seeking public comment on whether to continue, cancel, or expand the tariffs on goods of Chinese origin imposed pursuant to Section 301 of the Trade Act. of 1974. To that end, USTR published a list of questions intended to guide interested parties as to the type of information they are seeking. Businesses affected by Section 301 fees should consider answering these questions because it may be the only opportunity they have left to provide formal feedback to the USTR on the fees .
The questions are divided into three sections. Interested parties may choose to answer the questions in one, two, or all three sections.
- Section A: Impact on the US Economy Section A invites comment on the impact the tariffs have had on the US economy and asks whether the tariffs have been effective in reducing or eliminating acts, policies and practices of China related to technology transfer, intellectual property and innovation. It is also looking for feedback on the effects of fees in terms of:
- Capital investment, national capacity and production levels, industry concentration and profits
- US Technology Development and Leadership
- US workers in terms of employment and wages
- Small companies
- Supply Chain Resiliency
- US consumers
- Sections B and C: Sector and Industry Outlook . The remaining sections ask essentially the same questions, but from a sector/industry perspective (Section B) and in relation to specific tariff classification subheadings (Section C).
The USTR comment file was opened on November 15, 2022 and will close on January 17, 2023 . The dossier will allow respondents to designate portions of their comments as Business Confidential, provided they certify that disclosure of the information would jeopardize trade secrets or profitability and that such information is not generally available. Non-confidential versions of the same responses must also be provided. Respondents can attach additional documents that complement the answers.
As those affected by the fees know, nearly all of the Section 301 exclusions have expired and more are scheduled to expire on December 31. There has been no indication that the fee exclusion process will be reopened. As such, this comment period may be the only process available for companies to advocate for the removal of the fees.
For more information contact:
Jeffrey Lehtman | Partner Miller & Chevalier | jlehtman@milchev.com
by Juan Manuel González | Apr 3, 2023 | Noticias-en
Beccar Varela presents his latest sustainability report, “Trajectory and innovation for a sustainable future” , which reports the work carried out by the firm on the matter throughout the 2020-21 period. Several teams participated in the preparation of the report under the Global Reporting Initiative (GRI) standards.
Beccar Varela’s sustainability strategy is made up of three central dimensions: legal advice with ESG criteria , which aims to provide legal solutions that integrate environmental, social and governance aspects; responsible business management , focused on the firm’s collaborators, following good corporate governance practices and caring for the environment; and relations with the community , through pro bono advice of excellence and support for education aimed at those who need it most from the Dar Project. Throughout the period considered, the firm successfully achieved objectives in the three dimensions of its strategy, particularly in the care and well-being of its members, as well as in the work to support the vulnerable communities that suffered the most from the impact of the pandemic and its consequences.
In order to prioritize the care and safety of the members of the study, Horacio Beccar Varela, managing partner, mentions that they implemented “a safe work protocol with a gender perspective and we formed an interdisciplinary teleworking team to reconcile daily work activities and its new modality. Partner Fernanda Mierez emphasizes that “the challenges of this context revealed the relevance that ESG aspects acquire in legal advice.” The firm participated in sustainable finance projects in which it accompanied companies, non-profit organizations and governments in the search for alternatives for financing oriented towards positive social and environmental results, as in the case of the first issuance of social bonds, green and sustainable carried out by a civil association and articulated together with the National Securities Commission to facilitate the access of foundations and associations to the capital market. In line with the community relations programs, the firm reinforced its commitment to the organizations with which it usually collaborates. During this period, the Beccar Varela Pro Bono Program celebrated its 20th anniversary, managing to double the number of annual hours dedicated to causes of public good. This space continues to grow with the incorporation of new partners and lawyers who dedicate their time and knowledge to legal advice and access to justice in favor of vulnerable groups and communities. An example of this evolution of the project is the recent adhesion of the environmental law and climate change team.
Beccar Varela is a leading law firm in Argentina. He advises national and international companies from various industries in all areas of corporate law. It is the first comprehensive legal advisory firm in the country to join the United Nations Global Compact, as well as submit a sustainability report. In 2022 it celebrated 125 years of experience.
Click here to read the 2020-2021 Sustainability Report.
For more information contact:
Gustavo Papeschi | Partner of Beccar Varela | gpapeschi@beccarvarela.com
by Juan Manuel González | Apr 3, 2023 | Noticias-en
We are attending one of the most anticipated sporting events, at least in our country, which is the World Cup, which as we all know will take place in Qatar and has created a lot of expectations.
Given this panorama and from the perspective of the employment relationship, it is important to take into account that there are aspects that must be considered by both the workers and the employers, so that the parties are clear about the rules of the game and thus avoiding getting yellow or red cards (understood in the workplace as warnings or dismissals).
First of all, workers must not forget that, during the hours of the meetings, if they coincide with the working day, they must continue to comply with all their obligations and the internal guidelines of the organization, this in accordance with article 71 subparagraphs a) and b) of the Labor Code and with the employment contract, that is, there is no implicit permission to watch or listen to the games during the working day (including those of the National Team), and any breach in this regard could result in disciplinary sanctions.
Along these same lines, we can also find cases regarding matches that take place before or after the working day, since there are no implicit permits to either arrive late at the workplace, connect at the wrong time to the tasks carried out remotely or to leave the same time before the departure time.
Also, given the World Cup fever, on many occasions workers want to wear the jerseys of the national teams during the working day and attend the offices with them or connect to video calls with them, however, if the company has clothing guidelines, these must be be respected.
On the other hand, in the cases of workers who work remotely, they should be reminded that even when they are not in the workplace, they are expected to carry out their work with the same attention and quality as always, especially during this global era.
Another common case also in World Cup times is that employees get distracted, either by talking about the matches or exchanging postcards from the albums, while likewise, this type of act is not allowed during the working day.
Now, now that we know the rules to avoid yellow or red cards, it is prudent to mention that employers, as well as referees, could use an organizational “VAR” and thus review their guidelines internally, to determine possible different decisions. and allow permits to view the matches or generate internal activities related to the World Cup, in order to encourage working people with this type of business decisions, just as the ticos and ticos were encouraged when the referee used that tool that He disallowed New Zealand’s goal and gave us the chance to attend the World Cup.
Thus, do not allow them to take yellow or red cards and it is worth considering the organizational “VAR” when necessary from a work perspective.
For more information contact:
Alexandra Aguilar | Director | alaguilar@blplegal.com
Uri Weinstock | BLP Partner | uweinstok@blplegal.com
by Juan Manuel González | Apr 3, 2023 | Noticias-en
I. Background.-
Through the session of October 30, 2022, the Plenary of the National Assembly approved the Organic Law Project for the Development, Regulation and Control of Technological Financial Services (hereinafter “ Fintech Law “).
Fintech Law reforms the Organic Monetary and Financial Code, the Organic Law of Entrepreneurship and Innovation and the Organic Code of the Social Knowledge Economy.
II. Fintech Law.-
Object and purpose of the Fintech Law: regulate Fintech activities carried out based on technology related to the financial, securities and insurance markets, with the aim of promoting innovation and the development of new technologies to improve financial inclusion.
Fintech Activities: the law will apply to the development, provision, use and offer of Fintech activities, understood as: (i) means of payment focused on technology; (ii) technological financial services; (iii) specialized electronic deposit and payment companies; (iv) technology services for the stock market; and, (v) technological insurance services.
Requirements to carry out Fintech activities: (i) be constituted as public limited companies and be authorized by the corresponding control bodies; and, (ii) count as a specific and exclusive corporate purpose the performance of Fintech activities.
Means of payment : the Fintech Law adds among the means of payment to electronic wallets with the category of fully digital banking and other means of payment focused on technology; and, provides that the electronic means of payment will be operated by the entities of the national financial system and the qualified agents of the auxiliary payment system.
Financial System: Two categories are added to the entities of the private financial system: (a) technological financial services, which are entities that can carry out financial activities focused on technology such as: (i) digital credit granting, (ii) neobanks, ( iii) personal finance and financial advice; and, (b) specialized electronic deposit and payment companies.
Stock Market: Added to the technological services entities for the stock market, which are those that develop activities focused on technology such as: (i ) Auxiliary transaction systems; (ii) Infrastructure for the stock market; (iii) collective financing or digital crowdfunding; (iv) blockchain; and, (v) others determined by the Monetary and Financial Policy Board.
Insurance System: Insurance technology service entities are added as a member of the private insurance system, whose activities may be: (i) alternative transaction systems; (ii) infrastructure for the insurance system; (iii) blockchain; and, (iv) others determined by the Monetary and Financial Policy Board.
The Fintech Law prohibits private financial entities from participating in the capital of Fintech companies.
Regulatory test environment ( Sandbox ): a regulatory test environment is implemented (Sandbox) is implemented for new business models related to technological services for the financial system, the stock market, and the insurance system that are not yet regulated.
The Superintendency of Banks and the Superintendency of Companies, Securities and Insurance will be empowered to create regulatory test environments.
III. Other relevant provisions.-
The validity of all credit titles issued with electronic support is recognized as long as they comply with the provisions of the Commercial Code and the Electronic Commerce Law, Signatures and Data Messages.
Finally, the Fintech Law establishes that reserved and confidential data classified in this way for security reasons must be hosted in Ecuadorian territory.
Daniel Castelo | Senior Associate Bustamante Fabara | dcastelo@bustamantefabara.com
by Juan Manuel González | Apr 3, 2023 | Noticias-en
The Federal Economic Competition Commission (“COFECE”), published on November 23, 2022, the initiation of the investigation with file number IEBC-004-2022, for possible barriers to competition and essential inputs in the distribution and commercialization of corn, as well as the production, distribution and commercialization of corn flour and related services in the national territory.
Regarding this investigation, COFECE explained that this market is particularly important because corn and corn flour are necessary inputs for the production of tortillas, which form an essential part of the daily diet of Mexicans, since around 98.6% of the population consumes it and it is included in the basic basket.
In accordance with the Federal Economic Competition Law, once the investigation is concluded and sufficient elements are found to determine the existence of barriers to competition and free competition, COFECE may: (i) order the removal of barriers that unduly affect the process of competition and in case of non-compliance, impose a sanction of up to 10% of the income of the economic agent, (ii) issue recommendations to public authorities, (iii) determine the existence of essential inputs and, where appropriate, issue guidelines for its regulation, and (iv) order the disincorporation of assets, rights, social interests or shares.
In this investigation, COFECE may request information in writing, carry out verification visits, as well as summon economic agents that participate in or are related to said market to testify.
For more information contact:
Juan José López de Silanes | Partner Basham, Ringe and Correa | lopez_de_silanes@basham.com.mx
by Juan Manuel González | Apr 3, 2023 | Noticias-en
In 2019, the Ministry of Environment and Natural Resources decreed a 3-year extension to the period for regularization of environmental instruments in Guatemala contained in Government Agreement 237-2016. Thus, existing projects have until December 16, 2022 to request their respective environmental license, under penalty of a fine ranging from Q5,000 to Q100,000.
The environmental instrument is a technical document that establishes the environmental impacts or risks and the actions that will be carried out to mitigate those damages; Said instrument is approved through an environmental license. The obligation to have an environmental instrument exists since 1986 according to article 8 of the Law for the Protection and Improvement of the Environment (Decree 68-86).
In 2016, the Environmental Control and Monitoring Regulation -RECSA-, Government Agreement 137-2016, was issued, setting a two-year term for companies to regularize by presenting their environmental instrument.
Due to the large number of interested parties who decided to regularize their situation, on December 24, 2019, the reform to RECSA was published in the Diario de Centroamérica and established two important modifications:
- A term of 3 more years (expiring on December 16, 2022) was set for the process of regularization of environmental instruments, with the imposition of a fine of Q. 5,000.00 regardless of the category of the project.
- The obligation to present a bond or better known as surety insurance, which was a requirement to obtain an environmental license, was eliminated.
Let us remember that the purpose of all of the above implies being in compliance with local legislation, guaranteeing the protection of our environment and seeking to mitigate the damage that we produce.
