NEW REQUIREMENTS FOR PRIVATE PLACEMENTS(“Regulation 45-106”) OBLIGATION TO KNOW YOUR INVESTOR WELL Issuer’s obligations: Ask questions Verify the investor’s declared income and assets Confirm the relationship between the investor and the issuer Obtain proof of the investor’s status Keep the documents on file Last May, the Canadian Securities Administrators amended Regulation 45-106 respecting Prospectus Exemptions(“Regulation 45-106”)as we
On September 30, the U.S. House of Representatives passed a Continuing Resolution that will fund the government and extend the Immigrant Investor (EB-5) Pilot Program through December 11, 2015. The short-term extension will allow lawmakers seeking to reform the EB-5 program additional time to refine and advance legislation that would make investing in the program more difficult. To read the full alert, click here ...
What has happened?On 16 September 2015, the Federal Government introduced the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015. The Bill contains two significant proposals, both of which were signalled in the 2015-16 Federal Budget in May 2015 (see 2015-16 Federal Budget - key tax announcements for business) ...
With effect from 1 April 2015, the business of a hedge fund has been declared to be a collective investment scheme (“CIS”) in terms of section 63 of the Collective Investment Schemes Control Act 45 of 2000 (“CISCA”). Accordingly, hedge funds are now subject to and regulated by certain prescribed provisions of CISCA ...
In Esso Australia Pty Ltd v The Australian Workers' Union [2015] FCA 758, the Federal Court upheld the validity of some, but not all, orders made by the Fair Work Commission (FWC) against industrial action at Esso's Longford Plant in Victoria ...
Amendments to the Labour Relations Act, 66 of 1995 (“LRA”), which came into force in January of this year, introduced important and controversial provisions dealing with temporary employment services (“TES”), commonly known as labour brokers. The most important of these provisions is found in the newly-enacted section 198A. It makes a distinction between what can be regarded as the “acceptable” use of a TES services and the “unacceptable” use of its services ...
On September 9, 2015, the Department of State and U.S. Citizenship and Immigration Services (“USCIS”) announced a transformation of the way the Department of State’s visa bulletin functions. This change will allow many individuals who have been waiting in visa backlogs to file green card applications before an actual green card is available ...
Global mobility is on the rise and many of the employees all over the world especially the young university graduates are keen to working overseas than ever before to strengthen personal growth and career development.The third edition of Global Mobility – An Overview of Human Resource Professionals aims to provide initial guidance to Human Resource professionals and be a ready tool to help them meet the work deliverables of this function which is vital to the organizational success ...
Vol. XIII, Issues 2 & 3 of the Employment & Immigration Update includes the following articles:Ease of Doing BusinessOutplacementTwo-Tiered Wage SystemHighly engaged employeesSocial Safety NetsMore UK firms eye investments in PHThe issue also contains information on recent Supreme Court decisions, labor and employment news, immigration news, additional legal resources, and SyCipLaw updates.Download the Employment & Immigration Update 2015 2-3Q ...
On August 27, 2015, the National Labor Relations Board (“NLRB” or the “Board”) issued its decision in Browning-Ferris Industries of California, Inc., upending decades of well-settled precedent to establish a new, broad standard for determining when two entities are “joint employers” under the National Labor Relations Act. 362 NLRB 186 (2015) ...
On July 6, 2015, in response to an executive order signed by President Obama, the U.S. Department of Labor (DOL) published a proposed rule that could significantly impact overtime regulations under the Fair Labor Standards Act (FLSA). Among other changes, the proposed rule will increase the minimum salary threshold to qualify for the “white collar” exemptions to $50,440 per year, which could affect an estimated 4.6 million workers ...
On July 22, 2015, the Treasury Department and the Internal Revenue Service (“IRS”) released proposed regulations (the “Proposed Regulations”) providing that in certain circumstances a service provider’s allocations of a partnership’s income may be treated as compensatory payments for services under the Internal Revenue Code of 1986, as amended (the “Code”) ...
The U.S. Department of Labor (“DOL”) has proposed significant changes to the overtime pay regulations of the Fair Labor Standards Act (“FLSA”) ...
Last year California passed the Healthy Workplaces, Healthy Families Act of 2014 (the “Act”), which requires employers to provide paid sick leave at a rate of one hour for every 30 hours worked starting on July 1, 2015. Recognizing some of the ambiguities of the Act, this month California passed Assembly Bill No. 304, which clarifies and amends certain aspects of the Act. The amendments of AB 304 took effect on July 13, 2015 ...
Continuing a trend of increased scrutiny of independent contractor relationships, the U.S. Department of Labor (“DOL”) has issued new guidance to employers warning that "most workers" should be classified as employees and not independent contractors ...
Continuing a trend of increased scrutiny of independent contractor relationships, the U.S. Department of Labor (“DOL”) has issued new guidance to employers warning that "most workers" should be classified as employees and not independent contractors ...
On 29 June 2015, a new regulation on the procedure for employing foreign manpower (ie Minister of Manpower Regulation No. 16 of 2015) entered into force, revoking the previous regulation, Minister of Manpower Regulation No. 12 of 2013. Some important provisions in the new regulation include the following: • In general, an employer of foreign manpower must employ at least ten Indonesian workers for every one foreign worker ...
Last June 12, Bill 42, entitled «An Act to group the Commission de l’équité salariale, the Commission des normes du travail and the Commission de la santé et de la sécurité du travail and to establish the Administrative Labour Tribunal1» (the «Loi Act to group the CÉS, the CNT and the CSST and to establish the ALT” or the “Act”), received Royal Assent ...
Last week, the Second Circuit delivered a highly anticipated ruling on whether companies may continue to use unpaid interns. In what represents a clear victory for companies, the Court adopted a flexible “primary beneficiary” test to determine whether workers should be properly classified as interns or employees ...
On Tuesday, the U.S. Department of Labor (“DOL”) unveiled its highly anticipated proposed changes to the overtime pay regulations of the Fair Labor Standards Act (“FLSA”). These proposed changes are predicted to broaden coverage to nearly fivemillion additional workers ...
On June 15th, the Court of Appeal of Quebec, inCommission de la santé et de la sécurité du travailv.Caron,1issued an important judgment that changes the law governing an employers’ duty to accommodate employment injuries ...
Multilaw’s Labour & Employment practice group has released the 2015 edition of How to Hire and Fire: A Global Guide. The collaborative electronic guide serves as a quick but practical guide for everyday labor and employment concerns by providing a summary of key employment law principles across 105 jurisdictions. The guide reflects the law in each jurisdiction as of January 1, 2015 ...
A recent Fifth Circuit Court of Appeals decision reinforces the Fifth Circuit’s willingness to enforce private settlements of Fair Labor Standards Act (“FLSA”) claims while simultaneously making clear that there are limits to such enforcement ...
On April 29, 2013, the Occupational Safety and Health Administration (“OSHA”) launched the Temporary Worker Initiative (“TWI”) with the purpose of increasing its focus on temporary workers in order to highlight employers’ responsibilities to ensure these workers are protected from workplace hazards. A temporary worker is defined by OSHA as one hired and paid by a staffing agency and supplied to a host employer to perform work on a temporary basis ...
On June 1, the United States Supreme Court reversed and remanded Equal Employment Opportunity Commission v. Abercrombie & Fitch Stores, Inc.1 to the Tenth Circuit Court of Appeals and held that in order to prove a disparate-treatment (or “intentional discrimination”) claim, an applicant need only show that his need for a religious accommodation was a motivating factor in an employer’s decision not to hire him ...
