On March 7, 2019, the U.S. Department of Labor (DOL) proposed a rule that would significantly change the pay standards for overtime exemptions under the Fair Labor Standards Act (FLSA). Since 2004, the minimum salary necessary to qualify for an administrative, executive, or professional exemption under the FLSA has been $455 per week ($23,660 per year). Under the proposed rule, this minimum would increase to $679 per week ($35,308 per year) ...
The much awaited revised new regulations governing who qualifies for the FLSA white collar exemption has finally been revealed by the Department of Labor. It did so on March 8 by publishing anNPRM(“Notice of Proposed Rule Making”). In December of 2016, a Texas federal court entered a nationwide injunction halting the implementation of new regulations which would have dramatically increased the salary threshold for exempting most white collar employees from overtime ...
Bank Indonesia (“BI”) recently issued Regulation No. 21/2/PBI/2019 on theReporting of Foreign Exchange Flow Activities (Kegiatan Lalu Lintas Devisa)(“Reg. 21/2”) on 7 January 2019, which came into effect on 1 March 2019. Reg. 21/2 partially revokes BI Regulation No ...
Issuers and borrowers who enter into continuing disclosure undertakings on or after February 27, 2019 in connection with the offering of municipal securities will be required to report two new material events. The Securities and Exchange Commission (SEC) is implementing the amendment to Rule 15c2-12 of the Securities Exchange Act of 1934 (Rule 15c2-12) by virtue of Release No ...
USCIS recently announced that beginning March 11, 2019 it will require use of a new version of Form I-539 Application to Extend/Change Nonimmigrant Status, a form commonly used to extend or change the status of H-4 and L-2 dependents. USCIS stated it will also require use of a new Form I-539A, Supplemental Information for Application to Extend/Change Nonimmigrant Status ...
One of the few things that is becoming clearer amidst the Brexit fog is that a ‘no-deal’ is no longer a fanciful possibility. The UK Government, in itsWhite Paper on Immigration Reformpublished at the end of last year, claimed the changes it proposed would lead to the most significant changes to immigration control in 45 years. However, that historic change, scheduled for December 2021, may come sooner than anticipated ...
Since the EU referendum, ourImmigration Team has been advisingEU nationals and their familiesimpacted by the UK’s decision to leave the EU. The result has thrown up a whole host of issues for EU nationals in the UK, not least how it affects their rights as a family unit. Our earlier post,British passports for EU children, looked at the position for EU children in the UK and how their parents can obtain a British passport on their behalf ...
On 10 January 2019, the Indonesian Government enacted GovernmentRegulation No. 1 of 2019 on Export Proceeds from the Exploitation,Management, and/or Processing of Natural Resources (“GR 1/2019”) ...
On 1 February 2019, the South African Minister of Finance published the Financial Matters Amendment Bill (the “Bill”) containing a long-awaited amendment to section 83 of the Insolvency Act, 1936. Wepreviously discussedthe purpose of the amendment to the Insolvency Act, as well as a number of issues associated with the first draft of the Bill (the “Draft Bill”), which was published on 24 August 2018 ...
An unfortunate by-product of strike action in South Africa is the common occurrence of unlawful and sometimes violent conduct on the part of certain members of the trade union embroiled in the strike. It then frequently becomes relevant whether individual employees should be held accountable for the “actions of the masses” on the basis of the doctrine of common purpose ...
It is becoming increasingly easy for employees in the workplace to record conversations, meetings and disciplinary enquiries without the consent of the employer to do so. The advancement of cell phone technology makes it easy for employees to do so without anyone knowing simply by placing their cell phone in their jacket or trouser pocket or on a table in a meeting ...
Employers in industries with fluctuating daily labor needs, such as retail services, often require employees to call in ahead of a scheduled shift to find out whether they are needed to work. According to a recently-published California Court of Appeal decision, employees who are required to use such a call-in procedure may be entitled to "reporting time pay" if they are told not to come to work that day—even if the employees do not physically report to work ...
When a scion of the investment banking world gets into crypto it is probably worth taking notice. JP Morgan Chase, America's largest bank, has just grabbed everyone's attention with the launch of its very own cryptocurrency, the JPM Coin. JP Morgan intends the internally developed crypto asset to be used in its wholesale payment system, which currently sees daily volumes in the region of $6 trillion ...
Justice Kavanaugh’s first authored opinion as a Supreme Court Justice inHenry Schein, Inc. v. Archer and White Sales, Inc., No. 17-1272, 586 U.S. ____ (2019) further cements the Supreme Court’s stance on arbitration. Over the years, the Supreme Court has consistently held in favor of arbitration and rejected attempts by parties and the lower courts to ignore binding arbitration clauses. For instance, inAT&T Mobility LLC v. Concepcion, 131 S. Ct ...
As the date draws closer for implementation of the Senior Manager and Certification Regime (SMCR) across asset management firms, HR’s attention is turning to the impact of the new regime on regulatory references ...
The Financial Conduct Authority (FCA) recently launched a consultation on its proposed guidance on cryptoassets (CP19/3) which can be read in fullhere. The move comes as part of the UK Cryptoasset Taskforce's wider look into the regulation of the cryptoasset market. The consultation follows a report published in October 2018 by the Taskforce, which consists of the Bank of England, HM Treasury and the FCA. Our discussion of that report can be readhere ...
One of the biggest challenges that micro, small and medium enterprises face when trying to settle in and achieve success as profitable businesses is to obtain capital and sources of financing ...
Digital economy is a system of economic relations new for the Russian markets. It has emerged due to the development of modern information tech-nologies, that increased the role of information as a market-development resource. Currently, all the regulators pay significant attention to digitalization and IT technologies that might influence the market environment in Russia ...
Israeli and international organizations seeking to employ foreign workers in Israel, who are not residents or citizens of the country, in management positions or in positions requiring special expertise or training, are required to apply for a work permit. The work permit will then be issued for a “foreign expert” (B/1 permit) from the Population and Immigration Authority in Israel ...
Whether you are a start-up looking to hire your first recruit or an established multi-national business, navigating the world of employment law can be tricky. WithBrexitstill firmly at the top of the bill, we take a look at some of the challenges ahead for employers large and small. As businesses struggle with significant skill shortages, expect difficulties around international recruitment and gender pay disparities to be key issues in the year ahead ...
Long before eMortgages, electronic signatures, and mobile apps hit the secured lending scene, Lord Nottingham proposed that the English Parliament pass An Act for Prevention of Frauds and Perjuries in 1677 to prevent nonexistent agreements from being “proved” through false testimony. That statute and its progeny remain an important resource in today’s financial services industry ...
On January 25, 2019, the National Labor Relations Board (Board) returned to the common-law agency test for determining whether workers qualified as independent contractors. SuperShuttle DFW, Inc., 367 NLRB No. 75 (2019) The decision expressly overrules the Board’s decision in FedEx Home Delivery, 361 NLRB 610 (2014), enf. denied 849 F.3d 1123 (D.C. Cir. 2017) ...
