The enactment of Law No. 4 of 2023 on the Development and Reinforcement of the Financial Sector (“the P2SK Law”) has provided fresh air for technological innovation in financial services. At the same time, the P2SK Law also protects consumers and strengthens the financial sector amid rapid digital development ...
Employees terminated in the frame of a collective lay-off may participate in a redeployment cell, which helps them to find new employment. Any participating employee is entitled to a monthly reorientation indemnity equal to his/her salary inclusive benefits during a period of 3 or 6 months. The employer pays the reorientation indemnity ...
Dear Colleagues, Due to changes to the migration law that took effect on 29 December 2021 and have been modified several times since then, ALRUD has updated the checklist below. This checklist will be useful for foreign nationals, company managers, HR directors, compliance officers, as well as heads of legal departments and other persons interested in or responsible for hiring foreign workers in Russia ...
[[{"type":"media","view_mode":"media_large","fid":"13510","attributes":{"alt":"","class":"media-image","height":"411","typeof":"foaf:Image","width":"480"}}]] Definitions: "LCF Law" means The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022. "Notice" means the Guernsey Financial Services Commission's Notice with respect to the disapplication of the requirement to hold a licence under section 40 of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 ...
On Tuesday 7 February 2023, the Transport Secretary, Rt Hon Mark Harper, laid out his commitment to the rail industry for the first time during the George Bradshaw address. As it stands it was a huge night for rail, with the sector desperate for some clarity over what the next steps are in relation to a number of things ranging from the establishment of Great British Railways (GBR) through to where it will be based and visibility of work pipelines ...
When one instructs a painter to draw a portrait (no matter how detailed the instructions may be) the painter will always have discretion in executing the final product. Likewise, in investment funds, the investment manager is instructed to invest according to various rules and timeframes which are detailed in the investment strategy as approved by the competent financial regulator, but there will still remain investment discretion on how the investment strategy is executed ...
However, Fintech is actually just a new term for an old concept that dates back to ancient times. A case in point is the invention of paper in China in the 7th century, a major technological development that paved the way for paper currency, and eventually fiat currency. The development of the payment card systems in the 1950s (e.g ...
The Ministry of Immigration and Population of the Republic of the Union of Myanmar has issued a notice that updates the application process to extend eBusiness Visas for foreigners working for companies or engaging in business in Myanmar. All such applications must be submitted in the name of a company that is duly incorporated and registered at the Directorate of Investment and Company Administration (“DICA”) and must have the signature of the director of the registered company ...
As an employer, how do you support your employees who are going through a divorce or separation? Lots of employers (including household names such as Asda, Tesco and Unilever) are working with Positive Parenting Alliance (PPA) to ensure that they have more family-friendly employee policies in place for employees going through divorce or separation ...
SEC Commissioner Hester Peirce (“Peirce”) recently delivered an address on digital assets regulation at the Digital Assets at Duke Conference. The two-day meeting brought together regulators, academics, experts, policymakers, and other key stakeholders in the industry to discuss and debate the future of digital assets and distributed ledger technology (“DLT”) ...
The impact that Artificial Intelligence (“AI”) is making on investment services has been the subject of a recent publication, dated 1st February 2023, which was issued by the European Securities and Markets Authority (“ESMA”) ...
The opportunity to hire temporary personnel to the same extent as temporary employment in order to cover a temporary need has been repealed. This means that there will no longer be access to hire employees from staffing companies on the grounds that the work is of a temporary nature ...
On 24 January 2023 the government launched a consultation seeking feedback on its draft statutory Code of Practice on Dismissal and Re-engagement (sometimes known as “fire and rehire”). The consultation remains open until 18 April 2023. The draft code does not apply to redundancy situations ...
Back in July 2021, the Women and Equalities Committee produced a report on menopause in the workplace. The report recommended that the Government amend the Equality Act 2010 to include menopause as a protected characteristic and make it an obligation for employers to provide reasonable adjustments for staff going through the menopause. The report also put forward a proposal for dual discrimination claims to be allowed at employment tribunals ...
With effect from 1 February 2023, the index applicable to employee wages increases from 877.01 to 898.93, resulting in a 2.5% increase in gross salary paid to individuals with employment contracts subject to Luxembourg law. Wage indexation is an automatic mechanism to adjust salaries in line with evolving living costs, as determined by STATEC[1]. Salaries are automatically raised when the cost of living increases by at least 2.5% ...
Pursuant to Department of Labor and Employment (“DOLE”) Labor Advisory No. 18, series of 2020, employers, including contractors or subcontractors in the private sector, shall shoulder the cost of COVID-19 prevention and control measures, such as, but not limited to, testing, disinfection facilities, hand sanitizers, personal protective equipment (i.e.,face masks), signages, and proper orientation and training of workers on COVID-19 prevention and control ...
On April 27, 2022,Republic Act No. 11712, or thePublic Health Emergency Benefits and Allowances for Health Care Workers Act(“RA 11712”), was signed into law in recognition of the critical role of health care workers in providing quality health care and ensuring disease prevention in the general population, especially during the pandemic. It seeks to promote the welfare of health care workers through the grant of mandatory benefits and allowances with utmost efficiency ...
1. Background and Rationale The Thai financial market has been revolutionized by rapid changes in technology, particularly, with the advent of distributed ledger technology (“DLT”) and digital assets in recent years. This has led to a surge of interest from traditional investors and corporate entities, both small and large, eager to participate in this dynamic market. These technologies have been driving financial innovation and progress ...
Your biometric data tells the tale of who you are in intricate detail. Often, your biometric data is used to verify your identity at work or school. Currently, Illinois has the most comprehensive biometric privacy law in the country with the Illinois Biometric Information Privacy Act. Maryland and Mississippi look to join Illinois in protecting their citizens’ biometric data ...
With cybersecurity risks increasing and evolving moving into 2023, the federal government is taking steps to help secure our cyber infrastructure. The recent passing of the 2023 omnibus spending agreement included additional funds for a variety of federal agencies in order to strengthen our cybersecurity apparatus. The Cybersecurity and Infrastructure Agency (“CISA”) received $1.3 billion for its cybersecurity programs. This is a $230 million increase over last year ...
The U.S. does not have a federal data privacy law. In the absence of an all-encompassing data privacy law, the U.S. has a myriad of individual state privacy laws. The significant state data privacy laws that are often used as models are the California Privacy Rights Act (which amends that California Consumer Privacy Act), the Virginia Consumer Data Privacy Act, the Colorado Privacy Act, and the Illinois Biometric Information Privacy Act ...
On January 20, 2023, Governor Glenn Youngkin announced that Amazon Web Services (“AWS”) plans to invest $35 billion by 2040 to establish multiple data center campuses across Virginia, pending legislative approval. Numerous localities in the Commonwealth are under consideration, and although none have been selected, residents in Northern Virginia have voiced concerns ...
