On June 27, 2024, Canada announced the addition of seven individuals and five entities to the Special Economic Measures (Extremist Settler Violence) Regulations (the “Regulations”). The amended Regulations entered into force on June 24, 2024. The amended Regulations impose a dealings prohibition against the individuals and entities listed, effectively freezing any assets they hold in Canada. Specifically, the Regulations prohibit any person in Canada and any Canadian outside Canada from: Individuals listed are also rendered…
On June 19, 2024, Global Affairs Canada issued a Notice to Exporters regarding regulatory amendments to the Export Control List (ECL) that were previously approved by an order-in-council (Order) on May 31, 2024 (Amendments). The Amendments target goods and technology in relation to quantum computing and advanced semiconductors, following similar unilateral amendments (or proposed amendments) to export controls implemented in the UK, France, Spain and Finland. Exports from Canada of the goods/technology subject to the…
On June 24, 2024, Canada announced that nine individuals and two entities were added to the Special Economic Measures (Hamas Terrorist Attacks) Regulations (the “Regulations”), created in response to the attacks by Hamas in Israel beginning on October 7, 2023. The amended Regulations entered into force on June 24, 2024. The sanctions target individuals and entities with roles in Hamas’ financial network. Each named party has participated directly or indirectly in facilitating, supporting, and providing…
On June 18, 2024, Baker McKenzie, in partnership with the International Compliance Professionals Association, hosted a virtual fireside chat with Lawrence Scheinert, the Associate Director for Compliance and Enforcement at the Office of Foreign Assets Control (“OFAC”) in the US Treasury Department. The webinar attracted 1640 registrations from across industry, with participants raising a wide variety of questions. In the discussion with Baker McKenzie partners, led by Julia Webster (Toronto) with questions from Janet Kim…