As a matter of important update that may impact potential and scheduled transactions in Russia, please be advised that on 8th of September 2022 the President of the Russian Federation has signed Decree No. 618 “On Special Procedure for Consummation (Execution) of Certain Types of Transactions (Operations) between Certain Persons” (“Decree No. 618”). Decree No ...
On Thursday, September 7, the National Labor Relations Board (NLRB) published a notice of proposed rulemaking that, if enacted as anticipated, will significantly expand the number of businesses presumed to be “joint employers” for purposes of the National Labor Relations Act. Under the proposed rule, two or more employers would be considered joint employers if they “share or codetermine those matters governing employees' essential terms and conditions of employment ...
On September 6, 2022, the National Labor Relations Board (the “Board”) issued a notice of proposed rulemaking ("NPRM") regarding the standard for determining joint employer status under the National Labor Relations Act ("NLRA"). The rule as proposed would effectively overturn a rule on the same subject issued just over two years ago during the Trump administration ...
Most employers know their employee handbooks need to be living documents that are reviewed and updated when conditions change. If any employer doubted the need for doing this, the past two years should have convinced them otherwise – with the need to incorporate policies to address statutorily mandated COVID-19 sick leave and/or vaccinations. While many of the mandatory COVID-19 sick leave policies are sunsetting, the sun is just rising for remote work issues ...
In the last few months, the UAE authorities have introduced a number of measures intended to increase the number of UAE nationals who are employed in the private sector. The Emirati Cadres Competitiveness Council (Nafis) program, originally established in 2016 with the aim of attracting UAE nationals to the private sector, has been reinvigorated ...
September 6, 2022 By: Jeffrey Dennis and Li-An Leonard Last week, the California Legislature failed to reach agreement on an extension to the employee exemption which applies to the California Consumer Privacy Act (CCPA) which currently exempts employees and employee data from the CCPA requirements. As a result, this exemption will expire on December 31, 2022 – and will result in increasing burdens on California employers as it relates to employee privacy rights ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
In Butler-Sloss and Ors v Charity Commission for England and Wales and Anor,[1] the England and Wales High Court (the Court) blessed the charity trustees’ decision to adopt investment policies that restricted investments to those aligned with the charities’ purposes, thereby excluding many potential investments. In so doing, the Court provided clarification regarding Harries v Church Commissioners for England ...
What is the intention of the new regime? By replicating and improving upon successful asset holding structures adopted by fund managers in jurisdictions like Luxembourg, the QAHC regime is intended to bolster the UK funds industry by facilitating greater UK-based fund activities, amending certain aspects of the UK tax system which have hitherto made UK vehicles unattractive as asset holding companies ("AHCs") ...
Dear valued clients, colleagues and friends, On 23 August 2022, the Malaysia Competition Commission (“MyCC”) launched a public consultation on the proposed renewal of a Block Exemption Order (“BEO”) in respect of liner shipping services covered under a VSA. The renewal application was made pursuant to Section 8 of the Competition Act as the earlier BEO granted expired on 6 July 2022. The press release by MyCC (“Press Release”) is accessible here ...
The United Arab Emirates (UAE), a sought-after destination by foreign businesses for establishing their regional offices, consists of multiple jurisdictions for incorporation/establishment of entities. Each Emirate of the UAE has its own licensing authority and, additionally, there are more than 40 free zones in the UAE. Each Emirate and each free zone can be regarded as a separate jurisdiction for the incorporation and establishment of entities ...
It is well-known that happier employees are harder to poach and, as a result, it is crucial that employers create a culture that drives staff loyalty and retention so as to mitigate the impact of the ongoing war for talent. Our future of work series previously examined top tips for recruiting a diverse workforce. However, in order to successfully retain staff, organisations must go further and look beyond their initial recruitment processes to evaluate the overall culture of the business ...
Mamo TCV Advocates shall be organising a series of webinars spanning over one week to provide insights on sustainable finance and related regulatory compliance obligations. The scope of these webinars is to highlight how the sustainability-related requirements are impacting the financial services sector from a regulatory standpoint. During the week, Mamo TCV Advocates will also be discussing employment and corporate social responsibility matters ...
<p>Dear valued clients, colleagues and friends,</p><p>Our <a href="https://www.shearndelamore.com/practice-areas/employment-administrative-law/">Employment & Administrative Law</a> partners, <a href="https://www.shearndelamore.com/people/sivabalah-nadarajah/">Sivabalah Nadarajah</a> (General Editor), <a href="https://www.shearndelamore ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has kept its Tier 1 ranking in M&A and Restructuring and Insolvency in the latest rankings released by IFLR1000, the guide to the world’s leading financial and corporate law firms. Earlier this year, SyCipLaw also received Tier 1 rankings in Banking, Capital markets: Equity, Project development, and in Project finance ...
On the 12 August 2022, the MFSA has issued a Circular to inform the financial services industry of the launch of a new standardised template (“Annex AX26: Source of Wealth and Source of funds self-declaration form”) to be used with immediate effect when submitting a statement of source of wealth and source of funds ...
Platform work entails the use of an online platform, serving as an intermediary between the clients and the workers for the performance of particular services or to carry out particular jobs in return for payment. In this way, division of work into specific jobs is favoured over a long-standing employment relationship ...
All entities (free zone limited liability companies and branch offices) registered under the jurisdiction of Dubai Development Authority (DDA) are required to file their most recent audited financial statements along with a summary sheet (to be generated through their AXS portal account) on or before 31 October 2022. Entities are required to make these filings through their respective AXS portal accounts ...
All entities (free zone limited liability companies and branch offices) registered under the jurisdiction of Dubai Development Authority (DDA) are required to file their most recent audited financial statements along with a summary sheet (to be generated through their AXS portal account) on or before 31 October 2022. Entities are required to make these filings through their respective AXS portal accounts ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for August 2022. Financial Services Securities Commission Malaysia Issues Consultation Paper on Proposed Regulatory Framework for Technology Risk Management by Capital Market Entities Islamic Financial Services (Minimum Amount of Capital Funds or Surplus of Assets Over Liabilities) (Licensed Person) (Amendment) (No ...
