On November 24, 2015, the Québec Court of Appeal rendered a much anticipated judgment in the case of Université McGill v. McGill University Non Academic Certified Association (MUNACA)1 (“McGill”) ...
With the use of zero-hours contracts 'ZHCs' increasing and new regulations in this area coming into effect, employers should ensure compliance with the new rules. Background Since our previous article, the Exclusivity Terms in Zero Hours Contracts (Redress) Regulations 2015 (the 'Regulations') came into force on 11 January 2016 ...
Employment law expert, Mirko Kovač, attended a Roundtable discussion on the new Law on Conditions for Secondment of Employees Abroad and their Protection organised by the Ministry of Labour on 13 January 2016. Our office previously analysed this law in more detail and additional information on the novelties it introduces may be found on our website (http://www.karanovic-nikolic.com/2015/11/16/serbia-adopts-law-on-conditions-for-secondment-of-employees-abroad-and-their-protection/ ) ...
Introduction In 2015 the Belgian banking and finance law landscape underwent certain changesand numerous modifications continue to be expected in 2016. This newsletter highlightscertain changes in EU and Belgian law in the following practice areas: financetransactions; investment funds (undertakings for collective investment); andfinancial institutions. 1 ...
2015 was an eventful year for government contractors as the Office of Federal Contract Compliance Programs (“OFCCP”) finalized several key rules related to contractors’ relationships with employees and job applicants. With more rules expected to be finalized in 2016, the OFCCP will exercise increasing oversight over contractors’ activities ...
The purpose of this newsletter is to raise the awareness of employers regarding the problems related to making knowledge of English a requirement for employment ...
A new bill on restrictive employment covenants has been adopted. Restrictive covenants concluded after 1 January 2016 will be subject to the new rules. We have listed some of the key changes below. Non-competition clauses can now only be entered into with employees who hold a very special position of trust. Previously, it was only a requirement that the employee held a special position of trust ...
On January 11, 2016, Vadim Kazenelson, a project manager for Metron Construction Corporation (“Metron”), was sentenced to three and a half years in prison.1 This sentence follows the decision rendered on June 26, 2015 in which the Superior Court of Ontario found Mr. Kazenelson guilty of the five charges against him, including four counts of criminal negligence causing death and one count of criminal negligence causing bodily harm ...
The filing window for Fiscal Year 2017 for Cap-Subject H-1B petitions – those subject to the annual numerical limit (the “Cap”) – will open on April 1, 2016. Given recent trends, the number of filed petitions is expected to again exceed the Cap. Over the last three years, the Cap has been reached within the first week of the April filing period ...
The recent Memorandum of Understanding (the “MOU”) between the U.S. Department of Justice (“DOJ”) and Department of Labor (“DOL”) reinvigorated the Worker Endangerment Initiative by “redoubling” the agencies’ cooperative “efforts to hold accountable those who unlawfully jeopardize workers’ health and safety,” Deputy Attorney General Sally Quillian Yates announced on December 17, 2015. An accompanying memorandum sent to all 93 U.S ...
As part of its effort to eliminate the risk of taxpayer-funded bail-outs of European banks, the European Union undertook a new “bail-in” regime beginning on January 1, 2016, implementing rules which require banks and some other market participants in EU member states to write-down, cancel, convert into equity or otherwise modify certain unsecured liabilities if such steps are required to recapitalize the institution.To red the full alert, click here ...
This past year has seen many changes in the community banking industry. Some of these issues we expected and some had more of an impact than maybe we would have thought. As we reflect and look forward to 2016, we asked several of our colleagues to weigh in regarding what we saw, what we expect and how to best prepare for the coming new year. Timothy R ...
For better or worse, lenders have become increasingly familiar with the strange dynamic that is the post-bankruptcy minefield created by their borrowers filing a bankruptcy petition. Immediately, lenders begin thinking about how they can minimize the write-off, how they can reduce exposure, how they can avoid violations of the automatic stay, whether they can convince a borrower to reaffirm debt, and many other questions that often must be analyzed situationally ...
Virtual currencies are once again at the forefront of discussion about top issues facing community banks and the financial industry as a whole. The Independent Community Bankers of America (“ICBA”), a trade association representing more than 6,500 community banks, recently published its list of top issues for the fourth quarter of 2015. Among them were the risks associated with virtual currencies ...
On December 18, Congress voted to reauthorize the Immigrant Investor (EB-5) Pilot Program without change through September 30, 2016. The EB-5 program was scheduled to sunset on September 30, 2015 but was granted two short-term reprieves while lawmakers debated several changes which would have made investing in the program more difficult, including increases to the minimum investment amount and restrictions on the calculation of indirect job creation ...
Two recent Labour Court decisions have highlighted the duty of trade unions and their officials to act to prevent unprotected strikes and unlawful actions during the course of a strike. These add to the growing list of decisions in which the court has indicated that it will hold unions accountable for unlawful acts by their members ...
LCS has provided a 2015 Taiwan Employment Law Update. 1. Five-Day Workweek to Kick Off Next Year An amendment to the Labor Standards Act (the "LSA") will take effect on January 1, 2016, paving the way for a five-day workweek and for working hours per week to be reduced to 40 hours. The LSA currently sets a ceiling of regular working hours of 84 hours fortnightly. 2 ...
A number of recently announced initiatives could introduce potentially significant changes to the rules governing the workforce in the UAE. Earlier this year, the Ministry of Labour promulgated Ministerial Resolutions Nos. 764, 765 and 766 of 2015. According to the reports of Ministry of Labour spokesmen that appeared in the local press, the new resolutions were designed to deter a number of undesirable practices ...
The Delaware Division of Corporations (the “Division”) recently announced that effective December 1, 2015, its Uniform Commercial Code (“UCC”) filing office will no longer accept paper UCC filings submitted directly to the State of Delaware via regular mail, courier or fax. The Division will instead require that all UCC filings be submitted to the Division electronically.To read the full alert, click here ...
The September 2015 issue of the International Financial Law Review (IFLR) included an international briefing article by SyCipLaw partner Arlene M. Maneja entitled “Competition law enacted.”Download a PDF copy of the article or read the article online at the IFLR website ...
The Philippine chapter of Getting the Deal Through: Islamic Finance & Markets 2016 was contributed by SyCipLaw Managing Partner Rafael A. Morales with Amer Hussein N. Mambuay. The chapter includes information on policies, legislation and supervision covering Islamic finance in the Philippines, contracting concepts, products, and updates and trends ...
The Parliament of the Republic of Serbia adopted the Law on Conditions for Secondment of Employees Abroad and their Protection (the “Law”). The Law will be applicable two months following its coming into force, i.e. 13 January 2016. The Law regulates the secondment of employees abroad in a more modern manner compared to the currently applicable Law on Protection of Citizens of FR of Yugoslavia working abroad ...
As of 3 February 2016, the new Law on Consensual Financial Restructuring (“Law”) will introduce an improved framework for voluntary debt restructuring in Serbia (“Restructuring”). The Law was adopted as a part of a national strategy to address the increasing number of non-performing loans in the country, which was adopted in August 2015 (“Strategy”).[1] The Law will replace the existing Law on Consensual Financial Restructuring of 2011, which produced modest results in practice ...
To incubate is to keep something in a suitable environment for a term where it can develop to its full potential. Increasingly, the concept is being applied to hedge funds, where “to incubate” implies structured conditions for the development and verification of investment strategies over time. As such, an incubator fund is ideal for start-up and emerging managers who do not have much capital but aim to attract greater sums of capital in the near future ...
