International Regulatory Enforcement

2021 will be the year of a new enforcement framework for the protection of the EU financial interests
With the formal entry into force of the new European Public Prosecutor’s Office (EPPO) on January 1, 2021, the EU—as well as countries having joined EPPO[1]—are adjusting to the new reality.
French and Dutch Financial Market Authorities Call for Europe-wide Regulation of ESG Data
On December 15, 2020, the French and Dutch financial market authorities released a joint position paper that calls for European regulation pertaining to the provision of environmental, social and governance ("ESG") data, ratings, and related services.
Sustainability: Businesses Interests Must Align with Society Interests Says the European Parliament
On 17 December 2020, the European Parliament adopted a Resolution on sustainable corporate governance. While not legally binding, the Resolution (and its related report) highlights the strong expectation that upcoming corporate governance proposals from the European Commission will include a series of additional mandatory sustainability-related obligations and incentives for companies.
Top 10 Predicted Business and Human Rights Issues for 2021
As 2020 edges toward a close, we can look forward to a 2021 defined by three Rs - recovery, rebuilding, and restoring. With that in mind, selecting just 10 business and human rights issues we predict will be salient through 2021, given the unpredictability of this past year and the number of issues we will confront next year, is a risky proposition. But in honor of Human Rights Day last week, below are 10 business and human rights issues we believe will receive particular attention between January 1 and December 31, 2021.
The Trump Administration Adds 77 Companies to the Entity List
On December 18, 2020, the U.S. Commerce Department’s Bureau of Industry and Security (“BIS”) placed 77 companies and individuals, most of which are China-based, on BIS’s Entity List, an action that marks a significant escalation of U.S.-China tensions before the new U.S. administration takes office on January 20, 2021.
European Council Takes Significant Actions on Global Human Rights
On December 7, 2020, the European Council, the EU’s highest body, adopted a decision and regulation establishing the first EU global human rights sanctions regime. The framework, which is similar to the U.S. Global Magnitsky Act, will allow the EU to target individuals and entities associated with serious human rights violations and abuses with sanctions, including a ban on travel and freezing of funds.
Recent Trends and Challenges on Anti-Corruption Compliance and Responsible Business Conduct in Southeast Asia
n November 13, the OECD, in partnership with the United Nations Development Program (UNDP), released a new report entitled “Responsible Business Conduct and Anti-Corruption Compliance in Southeast Asia” (the “Report”).[1] Based on responses from 229 company representatives across 10 ASEAN countries, the Report discusses the business risks companies face and the way they manage their responsible business conduct (“RBC”) and anti-corruption compliance. The survey targeted firms of varying sizes, ownership structures, industry sectors and
The Integration of Business and Human Rights into International Regulatory Compliance
Over the past several years, companies have been dramatically increasing their focus on risks associated with environmental, social and governance issues, and human rights in particular (ESG/HR).  These have led a growing number of companies to create dedicated ESG/HR compliance programs or management systems.  While managing these issues and impacts is increasingly critical, given the interconnectedness of virtually all international regulatory compliance-related risks – including anti-corruption, sanctions and trade controls, and money laundering, to name a few – it is important also to consider how ESG/HR risks can be integrated into broader, more comprehensive compliance programs.  This post, the first in a series, outlines the approaches that businesses are starting to take.
EU Announces New Rules on Trade of Dual-Use Items
On November 9, 2020 the EU announced a provisional agreement reached between the German Presidency and members of the European Parliament on a revised regulation setting out a new regime for the control of “dual-use” goods – e.g., items normally used for civilian purposes but which may have military and other applications, including exports, brokering, technical assistance, transit and transfer of dual-use items.
OECD’s Working Group on Bribery Applauds United States for Continued Enforcement of FCPA and Recommends Additional Steps to Increase Guidance
On November 17, the OECD Working Group on Bribery (“Working Group”) issued its long-awaited Phase 4 Review monitoring the United States’ adherence to the OECD Treaty regarding transnational corruption, which under U.S. law is implemented by the Foreign Corrupt Practices Act (“FCPA”). The 180-page report, adopted at the October meeting of the Working Group, noted how the United States has made important strides on effective detection of corruption and enforcement of the FCPA, as well as on legal developments on key issues such as corporate liability. The last full evaluation by the OECD Working Group on Bribery of the United States was in 2010.
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