ALRUD has received information from various sources indicating that this increase is under consideration. Reports suggest that the exit tax could rise to as much as ****40% of the valuation**** of the relevant asset. Despite conflicting information circulating in public sources, our contacts within the authorities have stated that ****no official decisions have been made**** regarding this matter ...
HR teams have a lot on their plate, but a key priority for 2024 is undoubtedly protecting the employee brand proposition. Our 2024 online programme is focused on supporting HR teams to do just this, equipping them with the tools they need to protect the employee brand proposition of the organisations they work for. Our latest webinar focused on what organisations need to do to manage conflicting protected beliefs ...
On September 15, 2023, the DOLE issued Labor Advisory No. 20, Series of 2023, providing new guidelines on the implementation of a Cancer Control and Prevention Policy and Program in the Workplace. Under the Labor Advisory, employers and their employees are required to adopt such program, which shall include the following areas: 1. promotion of a safe and healthy lifestyle, including the mental and social well-being of employees; 2 ...
On 6 September 2024, the China Securities Regulatory Commission (CSRC) publicly released feedback regarding an application submitted by Mizuho Securities Co., Ltd. (Mizuho Group) for the establishment of Mizuho Securities (China) Co., Ltd. (“瑞穗证券（中国）有限公司”). If approved, Mizuho Group will become the fifth foreign financial group to establish a wholly foreign-owned (WFOE) securities company in China, joining the ranks of J.P ...
Quebec has set ambitious energy transition and industrial decarbonization targets. The shift to greener practices has to be taken in a context where our energy consumption could rapidly grow under the combined effect of a number of factors, such as the reindustrialization of our economy, population growth, transport electrification and the potential for artificial intelligence to consume vast amounts of energy ...
Carey Olsen advises Inflexion on closing of latest fund at £975 million The Fund was raised primarily through increased commitments from existing investors in less than five months, who on average doubled their investments from the previous fund, Enterprise Fund V. The Fund's investor base includes a diverse group of U.S. pension funds, insurance companies, and sovereign wealth funds ...
Modern data protection rules are being introduced to tax-efficient jurisdictions like Bermuda and the Cayman Islands. It's increasingly vital to understand how to handle data in some less familiar territories for data protection. Advisers are familiar with the data protection laws which apply in the jurisdictions where many commercial businesses operate like the UK Data Protection Act, the UK/EU GDPR and the California Privacy Protection Act ...
Whilst talk of Rail Refrom is excellent news for a Sector that has been crying out for it, how much will it really impact the supply chain and what processes and protections are already in place to help the flow of contractual payments? As the Passenger Railway Services (Public Ownership) Bill awaits its second reading in the House of Lords on 7th October it is clear that there is a real focus on Rail from the Government ...
Chambers and Partners recently published its Corporate Immigration Global Practice Guide 2024. SyCipLaw senior partner and Employment and Immigration department head Leslie C. Dy and partner Rodelle B. Bolante authored this year’s Philippine chapter ...
The UK Cabinet Office has just announced, in a brief statement that the date for the Procurement Act 2023 to enter into force has been postponed. At less than 2 months from the planned “go live” date which was slated for 28 October 2024, in a surprise announcement, the new Government has decided to push this back. The reasoning for the decision stems directly from the change in administration following this year’s General Election ...
Over the last year, we have monitored a lawsuit in Georgia that alleged a hedge fund (“Fearless Fund”) violated 42 U.S.C. § 1981—the federal prohibition on racial discrimination in contracting—by operating a grant contest that awarded $20,000 grants to select small business owners, all of whom, by the contest’s express rules, had to be Black women. That case, American Alliance for Equal Rights v. Fearless Fund Management, LLC, settled yesterday ...
On September 9, 2024, the SEC announced it had settled Administrative Proceedings with nine investment advisers for violating the Marketing Rule. The violations involved distributing advertisements that included untrue or unsubstantiated statements of material fact or testimonials, endorsements or third-party ratings that lacked required disclosures. The following is a summary of the settled Administrative Proceedings ...
September 11, 2024 By: Amber Healy, Craig Nickerson, and Spencer Adler On September 3rd, 2024, Los Angeles County’s Fair Chance Ordinance (“FCO”) went into effect, establishing new criminal background check requirements for employers in unincorporated areas of Los Angeles County. The FCO expands the limitations placed on employers by California’s Fair Chance Act (“FCA”) ...
Carey Olsen advises FitzWalter Capital on launch of ~US$1.4 billion fund The Carey Olsen corporate team advising on the Jersey aspects of the transaction comprised partner James Mulholland, counsel Thomas MacAdie and associate Charlie Hurst, working alongside onshore counsel Debevoise & Plimpton LLP and Jersey administrator J.P. Morgan ...
A federal court has issued a nationwide injunction blocking enforcement of the Federal Trade Commission’s (“FTC”) new rule that would ban nearly all non-competition (“non-compete”) deals. The rule, issued on April 23, 2024 (the “Non-Compete Rule”), would broadly ban employer/employee non-compete agreements nationwide and was set to go into effect on September 4, 2024 (“Effective Date”) ...
The trend for financial services businesses and others to procure services from FinTech providers – and for providers to offer their services direct to consumers – has increased over the last 15 years. In this article, we outline some of the key areas of law that relate to FinTech. Similar to technology law more broadly, FinTech law is very much a “discipline of disciplines” ...
SyCipLaw's Employment & Immigration Update (Volume XIX, Issue 1) features the latest issuances from the Department of Labor & Employment (DOLE), summaries of Supreme Court decisions, and labor and immigration updates. Please read the full bulletinhereor via thislink. Labor Advisories DOLE Labor Advisory No. 23-23: Guidelines on Minimum Public Health Standards in Workplaces Relative to the Lifting of the State of Public Health Emergency due to COVID-19 DOLE Labor Advisory No ...
On September 8, 2024, the Ministry of Commerce, together with the National Health Commission and the National Medical Products Administration (hereinafter referred to as the "Three Departments"), publicly issued theNotice on Carrying Out Pilot Programs to Expand Opening-Up in the Healthcare Sector(hereinafter referred to as the "Notice"), announcing that,effective immediately, foreign-invested enterprises are permitted to engage in the development and application of human stem cells, gene diagno
Carey Olsen advises Sarasin Bread Street on inaugural multi vintage private equity fund The fund comprised two separate closed-ended registered collective investment schemes, utilising a single-manager multi vintage investment strategy to acquire a diversified portfolio of private company investments managed by Carlyle Group across a range of years from 2014 to 2024 ...
Dr. Christine Calleja from Mamo TCV Advocates and Dr. Matthew Brincat from Ganado Advocates will be participating in an upcoming webinar organised by Novargo on the 12th of September. This webinar will focus on tackling key employment law issues encountered by HR professionals. Participants will have the chance to ask questions and gain invaluable insights on effectively navigating complex legal matters and workplace challenges ...
In recent years, the emphasis on sustainable and responsible investment has grown significantly. This shift is driven by increasing awareness of environmental, social, and governance (“ESG”) issues among investors, regulators, and the public ...
Recently, the United States Court of Appeals for the Fifth Circuit issued a decision on the Department of Labor's (DOL) rule concerning tipped employees. This final rule, introduced in 2021, addresses the amount of time a tipped employee can spend on "tip-producing work" versus "non-tip-producing work ...
In Harrington v. Purdue Pharma LP in June, the U.S. Supreme Court held that the U.S. Bankruptcy Code does not authorize nonconsensual releases of nondebtors as part of a Chapter 11 plan ...
On August 28, 2024, the National Medical Products Administration (NMPA) released the Medical Device Administration Law (Draft for Comment) (hereinafter referred to as the "Draft") for public comments ...
The National Interest Waiver (“NIW”) is a special provision within the EB-2 employment-based immigration category that allows individuals to bypass the usual labor certification process (“PERM”) required for most employment-based green cards. The NIW is granted to foreign nationals who can demonstrate that their work is in the national interest of the United States, making it a valuable option for highly skilled professionals ...
