On the 20th of December 2022, various amendments (and clarifications) to the Employment and Industrial Relations Act (Chapter 452) came into force, mainly relating to the probationary period applicable to fixed term contracts and the duration of fixed term contracts. By means of the amendments: In the case of a renewal of a fixed term contract for the same functions and tasks as the previous fixed term contract, there shall be no new probationary period ...
During 2022, the government has, among other things, made these legal amendments: Removal of the general right to employ someone temporarily up to one year Trade unions that have members in a company that use hired workers from a temp agency can start legal proceedings against the employer about the legality of hiring. Revised home office regulations You can read more about these changes here. The Supreme Court has also contributed to the further development of employment law ...
Earthrise Serves EPA with Notice of Intent to Sue, Challenging Washington’s Forest Practices Rules Nearly 20 years ago, the Washington Forest Practices Board adopted forest practices rules intended to address water quality impacts from nonpoint sources of pollution affecting Endangered Species Act (ESA)-listed species of salmon ...
On December 14, 2022, the National Labor Relations Board reinstated a previous test used to determine which employees must be included in an appropriate bargaining unit. In American Steel Construction, Inc., 372 NLRB No. 23 (2022), the Board overruled the test established in PCC Structurals, 365 NLRB No. 160 (2017), and The Boeing Co., 368 NLRB No. 67 (2019), opting to return to the test set forth in Specialty Healthcare & Rehabilitation Center of Mobile, 357 NLRB 934 (2011) ...
On 23 September the Government announced its ‘Growth Plan 2022’ (Growth Plan). It was intended, the Government said, to tackle rising energy costs, bring down inflation and help businesses and households alike. Instead, it caused a sudden and significant rise in interest rates which caused havoc for defined benefit (DB) pension schemes with liability driven investment (LDI) strategies ...
What are Digital Assets? The Official Bermuda Definition The definition of "digital asset" under Bermuda's Digital Asset Business Act 2018 ("DABA") is: "anything that exists in binary format and comes with the right to use it and includes a digital representation of value that – (a) is used as a medium of exchange, unit of account, or store of value and is not legal tender… &nbs
The SEC, in a unanimous vote, adopted final rules on December 14, 2022 amending Rule 10b5-1 under the Securities Exchange Act of 1934. Additionally, it includes related amendments concerning disclosures about insider trading policies, disclosures about equity awards made close in time to the disclosure of material nonpublic information and the reporting of gifts by insiders ...
Financial Services Principles-based sustainable and responsible investment (“SRI”) taxonomy for Malaysian capital market 9th Meeting of Joint Committee on Climate Change (“JC3”) Meeting Revision to Guidelines on the Registration of Venture Capital and Private Equity Corporations and Management Corporations Bank Negara Malaysia issues exposure draft on Capital Adequacy Framework (Basel III — Risk Weighted Assets) — Operationa
On December 19, 2022, the U.S. Small Business Administration (SBA) issued a proposed rule that, if enacted, will permit prime contractors to receive small-business subcontracting credit for subcontracts at any tier. The deadline for comments on this proposed rule is February 17, 2023. 13 Code of Federal Regulations (C.F.R.) § 125 ...
On October 15, 2020, the U.S. Small Business Administration (SBA) issued a final rule making changes to the SBA’s 8(a) program regulations “to more clearly articulate SBA’s intent with regard to certain aspects of the 8(a) program to eliminate confusion and decrease burdens on procuring activities and 8(a) participants ...
A picture is worth a thousand words, but what about a drone video? To construction firms and the lawyers who represent them, drones, also known as unmanned aerial vehicles (“UAVs”), enable firms to capture large amounts of high-quality information in a quick and efficient manner ...
On December 13, the National Labor Relations Board (NLRB) published a decision in the case of Thryv, Inc. and International Brotherhood of Electrical Workers, Local 1269 that promises to substantially expand the available financial penalties that the Board can require employers to pay if they are found to have infringed upon employees’ rights under the National Labor Relations Act ...
On October 15, 2020, the U.S. Small Business Administration (SBA) issued a final rule making changes to the SBA’s 8(a) program regulations “to more clearly articulate SBA’s intent with regard to certain aspects of the 8(a) program to eliminate confusion and decrease burdens on procuring activities and 8(a) participants ...
On 14 December 2022, the People's Bank of China ("PBOC") issued for public comments the Measures for Administration and Supervision of Financial Market Infrastructures (the "FMI Measures"). The public comment period is open until 14 January 2023 ...
The season of goodwill is upon us, with retailers and the press announcing Christmas charity partnerships to raise funds for good causes, but the cost-of-living crisis will still be with us in 2023. Charities are increasingly feeling a greater level of pressure to be the first line of defence as gaps in public services open up and they face a “triple threat” of increasing running costs (in particular, energy bills), rising service demand, and falling incomes ...
Maritime operators should diligently enact and follow policies and procedures on personal leave and drinking ashore. In a recent decision from the U.S. District Court for the Middle District of Louisiana, the court refused to dismiss claims against a tugboat operator by estates of two crewmembers killed while operating a skiff, In re Chester J. Marine, LLC, No. 20-214 (M.D. La. Nov. 10, 2022) ...
Financial Services Exposure draft on licensing framework for digital insurers and takaful operators Amendment to the Guidelines on Recognised Markets Guidelines on Islamic Capital Market Products and Services
Anyone familiar with the construction industry knows that retainage – or money held back from payment until a later time – is a tool that project owners and general contractors have long used to protect against contractor nonperformance or other project risks ...
Over the past few weeks, the European Union has issued somewhat of a landmark act which is aimed at addressing the topical issue surrounding the lack of women in top-level corporate positions ...
In this case the debtor argued the underlying debt was disputed. The Royal Court agreed with Carey Olsen that a claim is not disputed for the purposes of a creditors’ winding up application unless it is the subject of a “substantial dispute”. New regime On 1 March 2022 a new creditor instigated insolvent company winding-up regime came into force in Jersey. Carey Olsen discussed it in detail here ...
AML/ATF and Sanctions The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008 provide that the Bermuda regulated sectors and relevant persons must apply enhanced customer due diligence to customers in high-risk jurisdictions ...
