On June 25, 2020, the U.S. Center for Disease Control and Prevention (CDC) broadened its guidance on who’s at risk of severe illness from COVID-19 due to underlying medical conditions and age. Under the new guidance, the CDC departs from previous guidance stating that only individuals over 65 years of age were at increased risk of COVID-19 due to age, and now states that risk from severe illness from COVID-19 increases with age ...
Pursuant to the verbal announcement made by our Senior Minister, Datuk Seri Ismail Sabri Yaakob last week, the Government has further released written guidelines on the categories of expatriates who are permitted to return to Malaysia and the measures to be undertaken prior to and after entering Malaysia ...
The Commission for the Financial Market (“CMF”), issued the General Rule No. 443, dated June 15, 2020 (the “NCG 443”), in order to establish the requirements to temporarily exempt from the presentation of certain documentation in the applications for registration of public offers of securities, and to permanently amend the General Rule No ...
Until June 30th, 2020, inclusive, companies shall notify employees in written form: on changes connected with setting out a digital register of employees’ work experience; on employees’ right to choose whether to continue keeping a labour book, in hard copy, until December 31st, 2020 ...
In a significant move for mortgage servicers and mortgage loan borrowers impacted by the COVID-19 pandemic, the CFPB issued an interim final rule this week that will, among other things, enable servicers to offer a payment deferral option ...
Effective June 24, 2020, a new executive order from President Donald Trump will go into effect, limiting the entry of certain categories of foreign nationals to the U.S. through December 31, 2020 ostensibly to protect the U.S. labor market as it recovers from COVID-19. The order focuses on suspending and limiting entry of foreign nationals who are currently outside of the U.S ...
With the exit from the lockdown now in full force, more companies are bringing their staff back to their work premises. We have listed 10 quick-but-key questions that every business manager or HR specialist must deal with during this restart. To read the full Q&A, CLICK HERE ...
Report of the Department of Banks and Financial Institutions Health Emergency - BCRA Communication “A” 7048: adjustments to the national payment system. Yesterday, the Central Bank of the Argentine Republic (BCRA) issued Communication "A" 7048 (the " Communication "), through which certain adjustments were established on the national payment system. The Communication was issued in accordance with the provisions of Decree No ...
We understand how family and personal circumstances underpin everything else, and so this webinar discussed issues to do with health, money and moving home. The takeaway points from the webinar are set out below. Documents to have in place Increase in people putting Wills in place since the pandemic and we anticipate this continuing with a potential second spike on the horizon. Your Will is a key document to make sure that your wishes are followed on death ...
In the recent decision of Abdul Malek Bin Mohamed v MISC Bhd dated 17 June 2020 [Award 840 of 2020], the Industrial Court recognised that the tenure of service of an employee in an organisation does not shield the employee from having to render satisfactory performance at the level required by the Company. The Industrial Court upheld the dismissal of an employee for poor performance after 32 years of service ...
We analyze, from all areas of business law, the main digital and technological challenges that will face companies after the pandemic, and offer possible answers and legal solutions ...
Key Points IRS guidance expands the definition of “qualified individual” for receiving a tax-favored coronavirus-related distribution (“CRD”) from a retirement plan and other plan changes under the CARES Act. The guidance confirms that plan changes under the CARES Act are optional, including the loan repayment delay, and provides a safe harbor method for implementing the loan repayment delay ...
In response to the financial impact of COVID-19 on local governments within the State of Ohio (State), the Ohio Office of the Treasurer has introduced the COVID-19 Response Initiative (Initiative). The purpose of the Initiative is to provide liquidity to local governments by accelerating fiscal year cash flows and easing revenue shortfalls as a result of COVID-19 ...
On June 16, 2020, the Securities and Exchange Commission announced a Temporary Conditional Exemption for municipal advisors (MAs), which provides an exemption from certain broker registration requirements under Section 15 of the Securities Exchange Act of 1934. This order is in response to the disruption in the municipal securities markets resulting from the COVID-19 pandemic ...
Airport sponsors and their legal counsel have been forced by the COVID-19 pandemic to exercise judgment and make tough decisions regarding the financial accommodations they will offer their commercial aeronautical tenants to help them weather the current storm ...
Key Points Title VII prohibits discrimination based on sexual orientation and gender identity. The holding does not change currently-existing legal obligations for California employers as discrimination based on sexual orientation and gender identity is prohibited under the FEHA. California employers should ensure they are complying with FEHA’s posting and training requirements. On Monday, June 15, 2020, the U.S. Supreme Court published a long-awaited opinion, Bostock v ...
Key Points Before undertaking a stock option repricing program, consider the tax impact on employees holding incentive stock options (ISOs) Additionally, consider the corporate and securities laws that govern repricing programs Introduction Stock options are a vital form of compensation at a wide range of privately-held companies.1 Stock options are intended to motivate employees to drive stockholder value and are used as an employee retention tool ...
Vietnam, a country of 97 million people, has been widely recognized for its successful handling of the novel coronavirus outbreak. On January 27, as the country celebrated the Lunar New Year holiday, Prime Minister Nguyen Xuan Phuc declared war on the coronavirus, having said "fighting this epidemic is like fighting the enemy". The Prime Minister and his cabinet acted expediently in controlling the spread of the virus ...
In a recent decision of the Industrial Court in Dewalaxhmana a/l A S Param v Weststar Aviation Services Sdn Bhd (Award No. 692 of 2020), we successfully defended the Company in a claim of unfair dismissal brought by a former employee. It is worth noting that in this case, even though the Industrial Court found that the Company had only proved four out of the seven charges against the former employee (the Claimant), the dismissal was still held to be fair ...
A case of forced resignation does not automatically amount to an unfair dismissal. In the recent decision of Mohd Rizam bin Ibrahim v Prince Court Medical Centre Sdn Bhd dated 5 June 2020 [Award 716 of 2020], the Industrial Court ruled that although the employee was forced to resign, the same was with just cause and excuse ...
The Fintech LandscapeDevelopments in 2019 in terms of sectors were:Payments: Remittance was an area of significant growth in 2019, with a number of notable non-bank payments service providers receiving Remittance (Class B) Licences from Bank Negara Malaysia (BNM). MoneyMatch, the first graduate from BNM’s Regulatory Sandbox programme for incubating and ensuring the sustainability and regulatory compliance of fintech start-ups, was the first to receive a licence at the start of the year ...
Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined an intermediary $6.4 million for control failures over a two year period in solicitation and recommendation of bonds to clients for execution on a third party platform ...
On 14 May 2020, the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange (SAFE) unveiled the Opinions on Providing Financial Support for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area (together the Opinions, available here in Chinese). The Opinions propose 26 measures to implement the following policy goals: 1 ...
On 22 May 2020, the Securities and Futures Commission (SFC) issued a supplemental circular introducing changes to the scope of leveraged and inverse products (L&I Products) which the SFC would accept for authorization for public offering in Hong Kong ...
