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The Proposed Regulatory Framework for Digital Banks in Malaysia
Shearn Delamore & Co., January 2021

In this article, Goh Hui Wen examines the proposed regulatory framework for digital banks in Malaysia. INTRODUCTION The global financial services industry has seen a momentous evolution over the past decades driven by new technology innovations. As customers gravitate towards digital experiences and products, the transformation of the traditional banking system has become inevitable...

New Payroll Tax Credit Available in 2021 for Public Colleges, Universities and Governmental Healthcare Entities – Q&A
Hanson Bridgett LLP, January 2021

Key Points Effective January 1, 2021, public colleges, universities, and governmental entities whose primary purpose is providing medical or hospital care are eligible for the employee retention and rehiring tax credit. The amount of the credit is equal to 70 percent of up to $10,000 in eligible wages per employee per quarter for the first two quarters of 2021. The tax credit is claimed as an offset to employment taxes otherwise payable by the employer...

Enforcement of Section 17A of the MACC Act - How Does it Affect an Employer
Shearn Delamore & Co., January 2021

In this article, Benedict Ngoh Ti Yang looks at the new section 17A under the Malaysian Anti-Corruption Commission (“MACC”) (Amendment) Act 2018.   INTRODUCTION Pursuant to the recent Legal Notification PU(B) 247/2020, the Malaysian Anti-Corruption Commission (“MACC”) (Amendment) Act 20181 has come into force effective 1 June 2020. The principal effect of the MACC (Amendment) Act 2018 is the introduction of section 17A under the MACC Act...

New ALTA/NSPS Land Title Survey Standards to Take Effect in February 2021
Dykema, January 2021

Effective February 23, 2021, the 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys are being replaced with the new 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (“2021 Standards”). The 2021 Standards include a variety of changes which seek to further limit surveyor’s liability and provide better clarity...

Pre-Trial Injunction - Preservation of the Status Quo
Shearn Delamore & Co., January 2021

A case note by Elyse Diong Tze Mei. INTRODUCTION The recent case of Bellini Resources (M) Sdn Bhd v Mohamad Zaini bin Md Taha1 sets out the criteria for the preservation of the status quo pending trial where the ownership of a trade mark is in dispute...

New Michigan Amendments Allow Public Bodies to Continue Remote Meetings
Dykema, January 2021

With the ability of public bodies to meet remotely under “any circumstances” set to expire on December 31, 2020, the Michigan Legislature recently amended the Open Meetings Act to extend any reason remote meetings through March 31, 2021. These amendments also now mandate certain safety protocols for in-person meetings held before April 1, 2021...

Enhanced Rights Issue Framework: Temporary Relief Measures to Facilitate Fund Raising by Listed Issuers.
Shearn Delamore & Co., January 2021

In this article, Gan Shao Qi discusses some of the recent measures announced to facilitate fund raising by listed issuers through a rights issue in Malaysia to assist companies and businesses that require access to immediate funding due to Covid-19...

Pacific Northwest Labor & Employment Law Update: New Laws Effective in 2021
Buchalter, January 2021

Several new employment laws have taken effect as of January 1, 2021 in both Oregon and Washington.  Below is a brief overview of the new laws impacting employers in the Pacific Northwest. Washington Increased Minimum Salary Threshold for Exempt Employees As of January 1, 2021, the state salary threshold for many exempt employees in Washington is higher than the federal salary threshold...

2021 Predictions: Employment Law Changes on the Horizon
Shoosmiths LLP, January 2021

After what can only be described as a difficult year (an annus horribilis!) for employers and employees alike, we turn our attention to 2021 and look at some of the more significant legislative changes coming into force this year. Furlough continues The Coronavirus Job Retention Scheme has been extended until 30 April 2021...

Changes as of 1 January 2021: Increase of the Minimum Wage and Provision of Financial Assistance to Companies
Arendt & Medernach, January 2021

Minimum Wage Increase The Act of 15 December 2020 amending article L.222-9 of the Labor Code comes into force on 1 January 2021.The new legal provisions increase the minimum wage by 2.8%: raising unskilled employees' minimum monthly wages from EUR 2,141.99 gross to EUR 2,201.93 gross; and raising qualified employees' minimum monthly wages from EUR 2,570.39 gross to EUR 2,642.32 gross. The index applicable to employees' wages (834,76) remains however unchanged...

FCA Publishes 2020 Fines Data & Calls for More Resources
Shoosmiths LLP, January 2021

The FCA has published details of the financial penalties imposed during 2020 showing a significant fall on previous years in the number of penalties imposed and aggregate value. It also calls for greater resources to help tackle frauds and scams. In 2020 the FCA imposed 11 fines totalling £192,570,018. Despite the number of fines reducing significantly there was still a range in the issues which resulted in penalties being imposed...

OCIE Risk Alert - Observations from Examinations of Broker-Dealers and Investment Advisers: Large Trader Obligations
Dinsmore & Shohl LLP, January 2021

On Dec. 16, 2020, OCIE issued a new Risk Alert focused on the compliance efforts of investment advisers and broker-dealers regarding Rule 13h-1 (the Rule). The Rule was enacted in order to help the SEC identify market participants that conduct significant amounts of trading activity in national market system (NMS) securities. Generally, NMS securities are exchange-listed equity securities and standardized options...

Tricky Issues: When is Misconduct ‘Gross Misconduct’?
Shoosmiths LLP, January 2021

Kicking off our 2021 Tricky Issues Series, in this article we consider when misconduct is sufficiently serious to amount to gross misconduct. Misconduct v gross misconduct – why does it matter? Misconduct is one of the five potentially fair reasons an employer must have to dismiss an employee fairly. In this context, misconduct usually refers to two types of improper or unacceptable behaviour – ordinary misconduct and gross misconduct...

(WEBINAR) The Enforcement Challenge - Enforcing Arbitral Awards & Foreign Judgments in Indonesia, Malaysia & Singapore.
Shearn Delamore & Co., January 2021

Dear Clients and Friends  Drew Network Asia (comprising Drew & Napier LLC from Singapore, Makarim & Taira S. from Indonesia, and Shearn Delamore & Co. from Malaysia) is delighted to present a joint webinar with Omni Bridgeway, a leading global disputes finance company, on the enforcement of arbitral awards and foreign judgements in Singapore, Malaysia, and Indonesia. Details are set out below:   Date: Thursday, 14 January 2021 Time: 3.00 pm to 4.30 pm (SG/MY time) 2...

The BCA Suspects Caudalie of Imposing Minimum Resale Prices on its Distributors
ALTIUS/Tiberghien, January 2021

Over the last 4 years, the Belgian Competition Authority (“BCA”) has increasingly scrutinised anticompetitive restraints in vertical agreements and assessed these restraints under Article IV.1 of the Belgian Code of Economic Law and Article 101 TFEU...

International Sanctions: A Dedicated Regime for Financial Sanction in Luxembourg
Arendt & Medernach, January 2021

December 23, 2020 the Luxembourg legislator has published the law of 19 December 2020 implementing financial restrictive measures (“law of 19 December 2020”). This law has repealed the law of 27 October 2010 enhancing the anti-money laundering and counter terrorist financing legal framework...

Adrian Azer and Michael Scanlon in Claims Journal: ‘Another COVID-19 Worry: What is My Deadline to File Suit?’
Haynes and Boone, LLP, January 2021

When the scope of the COVID-19 pandemic became apparent in March 2020, an avalanche of articles appeared in which many insurers took the position that there was no coverage for losses associated with the SARS-CoV-2 virus due either to a lack of physical loss or damage to property necessary to trigger coverage under most commercial property policies, or to the effect of virus exclusions found in many such policies...

Rome was not Built in a Day – It’s Never Too Early to Review your Personal Data Protection Practice in China!
Deacons, January 2021

Did you know? The long-awaited draft of the Personal Data Protection Law (PDPL) was released for public consultation in October 2020. If enacted, it will be the first comprehensive law setting out the overall legal framework, as well as the obligations of different stakeholders throughout the entire lifecycle of personal data in China. Why does this matter to you? The data protection regime in China has developed rapidly in recent years and is stricter than one might think...

Benefits of the Employment Protection Law and the Law that makes the Requirements for Access to Unemployment Insurance more Flexible are Extended
Carey, January 2021

On December 4 th , 2020, Supreme Decree No. 2,097 of the Ministry of Finance (hereinafter, the “ Decree ”) was published in the Official Gazette, which extends the enforcement of the benefits established in titles I and II of law No.21,227 (“ Employment Protection Act ”) and in law No...

Special Arrangement for Visa Extension Application from Overseas
Deacons, January 2021

In general, individuals admitted into Hong Kong under various types of visa may apply for extension of stay within four weeks before the date of expiry, and they must be physically present in Hong Kong at the time of submitting the application and the collection of visa label upon approval. Due to the ongoing pandemic across the globe, this restriction has brought extra hurdles to a lot of applicants who are employees of companies and/or members of families...

Right to Assign or Transfer a Flight Ticket to another Passenger Civil Action - Summary Procedure - 24292-02-20 Lipschitz v. Sun d'Or International Airways
Fischer Behar Chen Well Orion & Co., January 2021

The Magistrates' Court in Bat Yam recently heard a claim brought against the company Sun d'Or which concerned the question of whether under Israeli law a person who purchased a flight ticket could transfer or assign their ticket to a different person...

COVID-19 Legislation: New Paycheck Protection Program Loan Rules Allow Second Round Funding and Deductibility of Expenses Paid with Forgivable Loan Proceeds
Hanson Bridgett LLP, January 2021

Key Points Past and future PPP loan recipients can deduct PPP loan-funded eligible expenses for federal tax purposes even if the loan is forgiven. Expanded eligibility for new loans to include new categories of employers; existing borrowers who have not yet received loan forgiveness may increase loan amount based on expanded allowable expenses...

COVID-19 Government Initiatives & Support in Asia – December 2020
DFDL, January 2021

As this challenging year draws to a close, the COVID-19 pandemic has wrought unprecedented disruption, economic uncertainty, and ushered in never-before seen travel restrictions throughout the world...

Whistle While You Work: Congress Strengthens Protections for Employees Reporting Antitrust Violations
Dykema, January 2021

The President recently signed into law the Criminal Antitrust Anti-Retaliation Act (S. 2258) (116th Cong. (2020)), which amends the Antitrust Criminal Penalty Enhancement and Reform Act of 2004. It grants stronger protections to employees who come forward with claims of antitrust violations. Specifically, the law prohibits employers from discharge, demotion, or suspension, as well as any discrimination against any employee who assists in a government antitrust investigation...

Cambodia: Deadline for 2021 Foreign Employee Quota Applications Now Extended to 31 January 2021
DFDL, January 2021

On 9 December 2020, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification 041/20 on Extending the Deadline for the 2021 Foreign Employee Quota Application (“Notification”). Through the Notification, the MLVT has delayed the submission deadline for 2021 foreign employee quota applications until 31 January 2021, being two months after the original deadline...

 

 

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