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OFAC Venezuela-Related General License 51

The Office of Foreign Assets Control (OFAC) has issued Venezuela-related General License 51, authorizing certain activities involving Venezuelan-origin gold. This license provides specific exemptions to sanctions regulations for authorized transactions.

Palladium CVD Investigation: Preliminary Affirmative Determination

The U.S. Department of Commerce announced a preliminary affirmative determination in the countervailing duty investigation of unwrought palladium from the Russian Federation. Preliminary subsidy rates for Russian exporters were determined to be 109.10%. The final determination is scheduled for May 20, 2026.

SEC Exempts Foreign Companies' D&Os from Insider Reporting

The SEC has issued an order exempting directors and officers (D&Os) of certain foreign private issuers (FPIs) from Section 16(a) insider reporting requirements. This exemption, effective March 18, 2026, applies to D&Os in qualifying jurisdictions like Canada, the EU, and the UK, relieving them of the obligation to report initial ownership and subsequent transactions within two business days.

Regulation of AI in Drug Development: US, EU, and UK Approaches

Regulators in the US, EU, and UK are developing approaches to govern the use of AI in drug development, focusing on patient safety and research integrity. Key initiatives include common principles agreed upon by the EMA and FDA, and international harmonization efforts for AI/ML-enabled medical devices.

UK PSR Seeks Merchant Survey Views on Interchange Fees

The UK Payment Systems Regulator (PSR) is seeking comments on a draft merchant survey questionnaire as part of its review of cross-border interchange fees. The survey aims to gather data on merchants' processing costs for online payments from the EEA to inform fee levels. The deadline for comments is March 5, 2026.

US and Hong Kong Stablecoin and Crypto-Asset Regulation Analysis

This analysis compares the regulatory approaches to stablecoins and crypto-assets in the US and Hong Kong as of March 2026. It highlights the US's evolving fragmented approach, including the GENIUS Act, and Hong Kong's unified, purpose-built licensing framework. The document aims to guide market participants through these distinct regulatory landscapes.

Court Orders Refund of Invalid Tariffs on IEEPA Goods

The U.S. Court of International Trade ordered U.S. Customs and Border Protection to refund invalid tariffs charged under the International Emergency Economic Powers Act (IEEPA). This ruling provides nationwide relief for importers, though an appeal is expected.

Net-Zero GHG Emissions News and Views

Baker Botts L.L.P. has published Edition 42 of their 'P2N0 - News and Views on the Drive Towards Net-Zero GHG Emissions' newsletter. This edition, dated March 6, 2026, provides updates and insights on the global efforts to achieve net-zero greenhouse gas emissions.

SEC Exempts Foreign Private Issuer Directors/Officers from Section 16(a) Filings

The SEC has issued an order granting an exemption from Section 16(a) beneficial ownership reporting requirements for officers and directors of certain foreign private issuers (FPIs). This exemption applies to FPIs incorporated in qualifying jurisdictions with substantially similar disclosure regulations, such as Canada, the EEA, the UK, and others. The order aims to align with the Holding Foreign Insiders Accountable Act.

Supreme Court Strikes Down IEEPA Tariffs; Trade Court Orders Refund Path

The U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) by the Trump administration were unlawful. Following this decision, the Court of International Trade has ordered a process for importers to seek refunds of these invalidated tariffs.

UK Cryptoasset Prudential Regime Proposals

The UK FCA has proposed a new prudential regime for cryptoasset firms, introducing capital, liquidity, risk management, and governance requirements. This consultation aims to ensure firms have sufficient financial resources and operational continuity. The regime is expected to come into force in October 2027.

Basel Committee Report on Synthetic Risk Transfer Markets

The Basel Committee on Banking Supervision has published a report analyzing the growth of synthetic risk transfer (SRT) markets, which provide capital relief for banks managing corporate credit risk. The report identifies trends and supervisory concerns, estimating protected assets at approximately EUR 750 billion.

Court Orders Tariff Refunds for Importers

The U.S. Court of International Trade has ordered U.S. Customs and Border Protection to refund duties collected under the now-unlawful IEEPA tariffs. This decision follows a Supreme Court ruling and impacts importers nationwide, with specific actions required for refund eligibility.

EU Industrial Accelerator Act: Focus on Green and Procurement

The EU has published a proposal for its Industrial Accelerator Act, shifting focus from high-tech sectors to decarbonizing heavy industry and introducing 'Buy European' rules for public procurement. The Act aims to bolster EU industrial capacity and competitiveness, with significant implications for supply chains and international trade relations.

UK Employment Rights Act 2025 Reforms

The UK's Employment Rights Act 2025, passed on December 18, 2025, introduces significant reforms to employment law. These changes, phased in from 2026 to 2027, affect industrial action, family leave, statutory sick pay, and dismissal rights, with the establishment of a new Fair Work Agency.

SEC Grants Conditional Reporting Relief for Foreign Private Issuers

The SEC has issued an exemptive order providing conditional relief from Section 16(a) insider reporting requirements for certain foreign private issuers. This relief applies when insiders are subject to substantially similar reporting obligations in their home jurisdiction, aiming to avoid duplicative filings.

Court of International Trade Orders Refunds for IEEPA Tariffs

The Court of International Trade (CIT) has ordered U.S. Customs and Border Protection (CBP) to issue refunds for tariffs collected under the International Emergency Economic Powers Act (IEEPA). This decision follows a Supreme Court ruling invalidating these tariffs and applies to importers whose liquidations are not final.

Latin America Crime Risk Trends 2025-2026

This notice analyzes political, economic, and financial crime risk trends in Latin America for 2025-2026. It highlights the impact of electoral cycles, US national security policies, and organized crime on financial institutions and corporate governance across the region.

High Court Re-Affirms 'One-Stop' Dispute Resolution in Arbitration Award Challenges

The English High Court has dismissed a challenge to an arbitral award, confirming an arbitrator's jurisdiction in a Section 67 challenge. The ruling reinforces the principle of 'one-stop' dispute resolution, particularly in settlement agreements, and clarifies the scope of an arbitrator's authority.

Importers' Path to Recover IEEPA Tariffs After Supreme Court Ruling

A recent article discusses the implications of a Supreme Court ruling invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Importers must take affirmative legal action, such as filing suit in the U.S. Court of International Trade, to recover paid tariffs, as refunds are not automatic.

EU and Canada Launch Digital Trade Agreement Negotiations

The EU and Canada have launched negotiations for a Digital Trade Agreement (DTA) to facilitate digital trade and enhance consumer protection. This agreement aims to establish clear rules for digital transactions, building on the existing CETA framework and complementing the non-binding Digital Partnership.

EU-Canada CETA Trade Agreement Updates and Digital Trade Negotiations Launched

The EU and Canada have advanced their trade relationship under the CETA agreement by adopting an interpretation on investment provisions and expediting dispute resolution for SMEs. They also agreed to amend the GMP Protocol to include active pharmaceutical ingredients and launched negotiations for a Digital Trade Agreement.

Social Policy Council Meeting Advisory

The Council of the EU has issued a media advisory for the upcoming Social Policy Council meeting on March 9, 2026. The advisory outlines the indicative programme, including discussions on gender equality, anti-racism strategies, child well-being, and the European Semester.

Media Advisory: Eurogroup and Econ/Fin Council Meetings March 2026

The Council of the EU has issued a media advisory for upcoming Eurogroup and Economic and Financial Affairs (Ecofin) Council meetings scheduled for March 9-10, 2026. The advisory outlines the indicative programmes for these meetings, which will cover macroeconomic developments, fiscal plans, digital finance, and the economic impact of geopolitical events.

European Council President Costa to Visit Baku

The European Council announced that President Costa will visit Baku on March 11 for high-level meetings with Azerbaijani officials. Discussions will focus on energy cooperation and the geopolitical situation in the Middle East, highlighting Azerbaijan's strategic importance to the EU.

President's Weekly Schedule

The European Council has published the weekly schedule for President António Costa for March 9-11, 2026. The schedule includes a video conference with Middle East leaders, a speech at the Annual Ambassadors Conference, and an official visit to Baku, Azerbaijan.

EU Council Meetings: AI, Poverty, Human Capital, and Geopolitics

The EU Council has released a forward look detailing key topics for meetings between March 9-22, 2026. Discussions will cover AI's impact on jobs, poverty reduction, economic and financial affairs, foreign policy including Ukraine and the Middle East, energy, environmental standards, and the next Multiannual Financial Framework.

António Costa Keynote Speech at Hamburg Matthiae Mahl Event

European Council President António Costa delivered a keynote speech at the Matthiae Mahl event in Hamburg on March 6, 2026. The speech touched upon European history, the role of cities, the EU's commitment to democracy and the rule of law, and the current geopolitical situation, including the conflict in the Middle East.

OFAC Removes Russia-Related Entity from SDN List

The US Treasury Department's Office of Foreign Assets Control (OFAC) has removed GLOBE TREKKERS LLC from the Specially Designated Nationals (SDN) List. This action is a designation removal under Executive Order 14024, with a related license issued for the United Arab Emirates.

USITC Continues Investigations on Citric Acid from Canada and India

The U.S. International Trade Commission (USITC) has voted to continue investigations into citric acid and certain citrate salts imported from Canada and India. The USITC found a reasonable indication that U.S. industries are materially injured by these imports, which are allegedly sold below fair value and subsidized by their governments.

US and Mexico Launch USMCA Joint Review Discussions

The United States and Mexico have initiated the joint review process for the USMCA. Discussions will focus on reducing regional dependence, strengthening rules of origin, and enhancing supply chain security. Negotiators are scheduled to hold their first meeting the week of March 16, 2026.

CBAM Certificate Price Publication Schedule and Tender Deadline

The European Commission has announced the publication schedule for the first Carbon Border Adjustment Mechanism (CBAM) certificate prices, which will be based on EU ETS auction clearing prices for 2026. Importers will need to purchase these certificates starting February 2027. A call for tenders for the Common Central Platform has also been issued, with offers due by March 20, 2026.

OFAC Venezuela Removals and Russia General License Update

The Office of Foreign Assets Control (OFAC) has removed certain entities and vessels from the Specially Designated Nationals (SDN) List related to Venezuela. Additionally, OFAC issued an amended Russia-related General License 129A, authorizing certain transactions involving Rosneft Deutschland GmbH and RN Refining & Marketing GmbH.

OFAC Issues Russia Oil License and Amends Venezuela Oil FAQ

The US Department of the Treasury's OFAC has issued Russia-related General License 133, authorizing the delivery and sale of Russian crude oil loaded on vessels as of March 5, 2026, to India. OFAC also amended a Venezuela-related FAQ concerning the resale of Venezuelan oil to Cuba.

EU Taxation: Call for Evidence on Simplifying Direct Taxation Rules

The European Commission has launched a call for evidence to gather feedback on simplifying EU direct taxation rules. The initiative aims to streamline corporate tax directives and reduce administrative burdens for businesses, with feedback requested until March 16, 2026.

CBAM Common Central Platform Services Call for Tender

The European Commission has published a call for tender for services related to the Carbon Border Adjustment Mechanism (CBAM) Common Central Platform (CCP). Interested economic operators must submit their offers by 20 March 2026. The CCP will be operational from 1 February 2027.

EU Commission Updates Training for Customs and Tax Professionals

The European Commission has introduced a new training course for SMEs and tax officials on the Special Scheme for Small Enterprises, effective January 1, 2025. Additionally, the SAMANCTA training program for customs professionals has been updated. Both resources are available on the EU Learning Portal.

EU Customs Operation Finds Non-Compliance in Online Purchases

An EU-wide customs operation found that a significant majority of cosmetic products, personal protective equipment, and food supplements purchased online from third countries do not comply with EU product standards. The operation checked over 11,000 items between October and December 2025, with non-compliance rates ranging from 60% to 65%.

EU Customs Recognition Cycle 2026: Next Steps and Timelines

The European Commission has published the timelines and next steps for the 2026 EU Customs Recognition Cycle. Applicants, including educational institutions and importers/exporters, can expect eligibility checks, assessments, and final decisions by September 30, 2026.

EU Oil Price Cap FAQs on Russia/Belarus Sanctions

The European Commission has published Frequently Asked Questions (FAQs) regarding the oil price cap on Russian and Belarusian crude oil and petroleum products. These FAQs aim to clarify compliance requirements and address potential circumvention risks associated with the sanctions regime.

EU Statement on Third Countries Aligning with Russia Sanctions

The EU has announced that eight third countries (Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Moldova, Montenegro, North Macedonia, Norway, and Ukraine) have aligned with the EU's restrictive measures concerning Russia. This alignment ensures their national policies conform to the EU's Council Decision (CFSP) 2026/432, which added eight natural persons to the sanctions list.

Press Briefing for Economic and Financial Affairs Council

The Council of the EU has issued a media advisory for a press briefing preceding the Economic and Financial Affairs Council meeting on March 10, 2026. The briefing will be held on March 9, 2026, and is open to EU accredited journalists.

EU-GCC Joint Statement on Iran's Attacks Against GCC States

The EU and GCC foreign ministers issued a joint statement condemning Iran's attacks against GCC states and reaffirming their strategic partnership. The statement calls for Iran to cease attacks, reiterates commitments to regional stability, and affirms the GCC's right to self-defense.

EU Farmers' Negotiating Position in Food Supply Chain Strengthened

The EU Council and Parliament have reached a provisional agreement to amend regulations governing agricultural products and the common agricultural policy. This aims to strengthen farmers' negotiating position in the food supply chain through measures like mandatory written contracts and enhanced producer organizations.

EU Law to Protect Vulnerable Adults in Cross-Border Situations

The Council of the EU has agreed on a new law to protect the rights of vulnerable adults in cross-border situations within the EU. This regulation aims to ensure that adults who require support due to conditions like Alzheimer's have their autonomy and choices respected when moving between member states.

Notice to Exporters: Customs Licence Transmission Issues

HM Revenue & Customs and the Department for Business and Trade have issued a notice regarding issues with licence transmissions from LITE/SPIRE to the Customs Declaration Service (CDS). This is causing customs clearance delays, and affected parties are advised to report declaration problems to CDS.

Updated Guidance on Open Licence Returns and Exporter Obligations

The UK Export Control Joint Unit and Department for Business and Trade have updated guidance on open licence returns. This update clarifies exporter obligations, return submission requirements, and the process for accurate and timely reporting under revised compliance expectations.

Russia Sanctions Update: General Trade Licence for Fertilisers

The UK's Export Control Joint Unit has updated the general trade licence concerning Russia sanctions, specifically financial services and funds related to fertilisers. This notice provides details on the amendments to the existing licence.

Export Control Joint Unit: Exporter Notices and E-Alert Sign-up

The UK's Export Control Joint Unit (ECJU) has issued a notice reminding exporters to sign up for e-alerts. This service provides important updates on training and changes to the UK's strategic export licensing regime.

EU Imposes Anti-Dumping Duties on Sweetcorn from China

The European Commission has imposed definitive anti-dumping duties ranging from 31% to 54.3% on sweetcorn imports from China. This action follows a 14-month investigation that found dumped prices were causing injury to the EU's sweetcorn industry, valued at €642 million.