On 11 March 2019, the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued a joint press release announcing the enactment of legislation enabling the implementation of a “passporting” scheme to facilitate UAE-wide promotion of domestic funds ...
The Brexit referendum vote and its potential impact on free movement has already resulted in many businesses struggling to meet their labour needs; the number of EU migrants has declined markedly at a time when Scotland and the UK is enjoying record levels of employment. As a consequence, immigration has risen to the top of many organisations’ agendas to ensure they can recruit and retain the talent they need to grow their businesses and remain competitive ...
The incorporation of the Law on Security Interests in El Salvador has the objective to create a registry for security interests, that is to say, the inscription of the security interests’ creation, modification, extension, termination and execution, as well as the publicity of these instruments. The Commercial Value that some brands have, plays a very important role and represents, for some entrepreneurs, a mechanism which enables them to access credits ...
(Article is a transcription of a presentation given by L. Ryan Pinder, Parnter, Graham Thompson Attorneys)IntroductionGood morning and welcome to The Bahamas. I trust you will enjoy your stay in our beautiful country. Today I have been asked to speak on the resilience of Caribbean IFC’s, their ability to adapt and survive amidst the many global initiatives over the past two decades and to explore the multitude of ways in which Caribbean IFCs remain relevant and competitive in this era ...
Background Companies licensed to conduct engineering or contracting activities in Abu Dhabi must be classified by the Contractors and Consultants Classification and Engineers Registration Office at the Abu Dhabi Department of Town Planning and Municipalities. The applicable regulations setting out the classification requirements are not new and date back to 2009, although implementation was delayed until 2014. Subsequent to the 2009 regulations, new regulations were introduced in 2018 ...
The IRS recently issued a new version of its Employee Plans Compliance Resolution System ("EPCRS") that gives sponsors of tax-qualified retirement plans additional options for self-correcting plan failures. The new EPCRS allows plan sponsors to use the Self-Correction Program ("SCP") in several circumstances, rather than requiring a Voluntary Compliance Program (VCP) filing with the IRS and payment of the applicable user fee ...
On April 16, 2019, the San Francisco Board of Supervisors unanimously approved the Community Opportunity to Purchase Act (COPA). The Mayor signed the legislation on May 3, 2019. COPA grants certain qualified nonprofit organizations the right of first offer and right of first refusal on sales of privately-owned buildings with three or more residential units and privately-owned property on which three or more residential units could be built ...
Effective April 22, 2019, new legislation expands the obligation of property owners to register vacant commercial storefront spaces with the City. The Board of Supervisors may also place a "vacancy tax" on November's ballot, which would tax owners for vacant storefronts after six months of vacancy. The newly effective measure amounts to an update of a previous ordinance that was passed in 2014. Both were introduced by District 1 Supervisor Sandra Lee Fewer ...
It was the age of wisdom, it was the age of incredulity. Blazing yellow sun. Lapping blue waves. Tanned beach bods and a palm tree’s silhouette swaying against an orange sky. Once ubiquitous, the California Fitness logo that hints at its fabulous lifestyle offering has vanished from Singapore. In its heyday “Cali”, as its legions of fans called it, was not merely a gym, it was a status symbol ...
Scotland’s countryside offers a vast range of property investment options, from houses and cottages to farms and country estates. However, when buying a rural property it is important to consider various issues that may be taken for granted in the purchase of a property in an urban area. 1 ...
The Abu Dhabi Global Market (ADGM), the financial free zone which began operations in 2015, has now come of age. On 14 April 2019 Mr Alexander Guy, Senior Executive Officer and Director at Eshara Capital Limited, had the uncommon honour of becoming the first named person to be fined by ADGM’s Financial Services Regulatory Authority. Eshara Capital, in its corporate capacity, was also fined in connection with the same contraventions ...
Pursuant to Title VII and 42 U.S.C. Chapter 60, a company must annually file an EEO-1 Report with the Equal Employment Opportunity Commission Joint Reporting Committee (JRC) if it answers “yes” to any of the three jurisdictional questions: 1. A company that has 100 or more employees; 2 ...
Many employers currently have employees on staff on temporary work visas, and employers likely know that in order to continue to employ employees not born in the U.S., the employer must sponsor the employee for permanent residency in the U.S. (i.e,. a green card). The green card process has multiple steps, which, depending on a variety of factors, may take several years to complete ...
In an opinion released April 26 and designated for publication, the Kentucky Court of Appeals held the longstanding Kentucky law allowing a non-lawyer to represent a business entity at an administrative unemployment hearing is unconstitutional.[1] If upheld, this decision will have broad, statewide impact on how unemployment claims are handled in Kentucky ...
The Supreme Court of the United States announced three cases will be argued next term that could determine whether Title VII protects LGBT employees from workplace discrimination. Title VII prohibits discrimination because of “race, color, religion, sex, or national origin,” but it does not explicitly mention sexual orientation or gender identity ...
The Social Security Administration (SSA) confirmed it resumed issuing “No-Match Letters” in March 2019. Officially called Employer Correction Requests, No-Match Letters inform an employer that the information reported on an individual employer’s W-2 form (or an employer’s quarterly tax filing) does not match the SSA’s records ...
The Bahamas has passed legislation requiring that certain legal entities carrying on relevant activities have to demonstrate adequate economic substance in said jurisdiction. The beneficial owners of any company or limited partnership incorporated, registered or continued in The Bahamas should be aware of this legislation and consider how they may be affected. The Commercial Entities (Substance Requirements) Act, 2018 (“CESRA”) came into force on December 31st, 2018 ...
The European Union continues to push out new rules aimed at offshore financial centers. Specifically, the Code of Conduct Group (CCG) within the EU’s Economic and Financial Affairs (ECOFIN) Council has determined that jurisdictions that fail to satisfy the CCG’s requirement to end “preferential treatment” for non-resident companies are to be deemed ‘non-cooperative’ and effectively blacklisted ...
Due to the GDPR, the Hungarian Parliament passed a law on 1 April concerning changes to a number of acts containing data protection provisions. The Hungarian Labour Code is one of the laws that has been changed. The new law is expected to be published soon and its rules, which affect quite a number of data controllers, will become applicable on the 15th day following their publication. It can be expected that the new rules will become effective around 1 May ...
On April 9, 2019, Gov. Matt Bevin signed into law the Kentucky Pregnant Workers Act (KYPWA), which expands protections for pregnant employees under the Kentucky Civil Rights Act, KRS 344.010, et seq. Reasonable Accommodations for Pregnancy Effective June 27, 2019, employers with 15 or more employees in Kentucky in at least 20 calendar weeks in the current or preceding year will be required to provide reasonable accommodations for pregnancy, childbirth, and related medical conditions ...
A recent decision by the National Labor Relations Board (NLRB), Ridgewood Health Care Center, Inc. (Ridgewood), has changed how the Board will define a “perfectly clear successor” when evaluating whether an employer is bound by an existing collective bargaining agreement (CBA) after acquiring another business ...
In a recent case involving a health care facility, the NLRB issued a 3-1 decision that significantly changed a successor employer's bargaining obligations before imposing the initial terms and conditions of employment on a unionized workforce. While seemingly favorable to employers, the decision also serves as a reminder to companies that they should act cautiously and consult with counsel before they take over a business with a unionized workforce ...
The recent decision of the FOPH (FOPH, decision of 11.12.2018 - 1 ABR 13/17) gives additional grounds for further clarifying the practical question of to what extent the conduct of an employee survey is subject to worker participation by the works council. The Respondent - a parent company of a postal and logistics company - has been carrying out an annual Group-wide employee survey since 2007 using a standardized electronic questionnaire ...
Federal Labor Court, ruling of 19 December 2018 - 7 AZR 70/17 The provision of Sec. 41 p. 3 Social Code (SGB) VI allows employers and employees to postpone the termination of the employment relationship upon reaching the regular retirement age of the employee. According to a ruling of the German Federal Labor Court (BAG) of 19 December 2018 (Ref. 7 AZR 70/17), this regulation is compatible with higher-ranking law ...
FOPH of March 19, 2019 - 9 AZR 362/18 The statutory leave entitlement according to Sec. 1, 3 Federal Leave Act (BUrlG) also exists for the period of parental leave, but may be reduced by the employer pursuant to Sec. 17 (1) (1) Federal Parental Allowance and Parental Leave Act (BEEG). This requires a legal declaration completed upon receipt aimed at reduction. Sec. 17 (1) BEEG is in line with EU law ...
