On Nov. 4, 2021, the IRS announced in Notice 2021-61 cost-of-living adjustments ("COLAS") to the tax-qualified retirement plan dollar limits for 2022. Most of the applicable dollar limits currently effective for 2021 will increase significantly compared with prior years. Below is a summary of the limits that are generally relevant for most retirement plans. Effective Jan ...
We are seeing renewed interest in these types of structures – particularly from fund managers who have not previously targeted Shariah investors - as (i) sovereign wealth funds, pension funds and HNW individuals from the Middle East and South East Asia diversify into alternative assets like private equity (PE), and (ii) traditional or "western" managers look to expand into the Shariah market by establishing bespoke feeder or parallel funds in Guernsey which offer a Shariah complian
The HSE has prosecuted a contractor after it identified multiple health and safety issues during a COVID-19 ‘spot check’ at a site in Manchester. This is the first prosecution to arise from the HSE’s Spot Check programme. Background Throughout the pandemic, HSE inspectors performed a number of proactive COVID-19 spot checks (reportedly over 316,000) at construction sites across the UK ...
(Update following the Scottish Government announcement on 8 October 2021) As discussed in our previous article, the Scottish Government is to provide powers for local authorities to address concerns surrounding the unregulated short-term let market. The Scottish Government proposes to do so by way of the Civic Government (Scotland) Act 1982 (Licensing of Short-term Lets) Order 2021 ...
Facts This month, the Inner House (Scottish appeal court) handed down judgment in Van Oord UK Ltd v Dragados UK Ltd, an appeal from the commercial court concerning the interpretation of an NEC3 contract for the dredging of Nigg Bay, part of the Aberdeen Harbour Expansion Project. Dragados Ltd, the main contractor (and Defender and Respondent) was employed by Aberdeen Harbour Board and subcontracted all dredging works to Van Oord Ltd, the Pursuer/Reclaimer ...
The financial sector has seen its fair share of discrimination cases and the trend continues. In Lacatus v Barclays Executive Services Limited the Employment Tribunal turned its mind to sexism. A female Analyst in the Rates Options Structured Trading Middle Office department brought a number of claims against the bank, including a sex discrimination and harassment claim centred around her line manager’s repeated use of the word “bird” to describe a woman ...
In this update, we’re looking at the hot topic of returning to the office post-pandemic. Q: What’s the direction of travel on working from home in financial services? While many industries have embraced hybrid working, financial services has generally been less enthusiastic about the idea of staff continuing to spend a significant proportion of their working time at home ...
Hot off the press, the Department for Business, Energy & Industrial Strategy are today introducing a new Code of Practice, and a draft Commercial Rent (Coronavirus) Bill ...
In a long-awaited policy announced in an October 28, 2021, speech at the ABA Institute on White Collar Crime, the Department of Justice has embarked on more aggressive enforcement of white collar and corporate prosecution. During the Trump Administration, such prosecutions reached historic lows, but that is about to change. Deputy Attorney General Lisa Monaco announced significant changes to DOJ policies on corporate enforcement ...
The Federal Trade Commission (FTC) has made several recent announcements signaling its intention to increase antitrust merger enforcement under the leadership of Chairperson Lina Kahn, appointed by President Biden. Some relate to the Hart-Scott-Rodino (HSR) pre-merger notification requirements, which apply regardless of whether a transaction is substantively reviewed by the FTC or the Department of Justice (DOJ) ...
University of Strathclyde v. Clear-Vu Lighting LLC, Appeal No. 2021-2243 (Fed. Cir. Nov. 4, 2021) In this week’s Case of the Week, the Federal Circuit reversed an inter partes review decision finding claims directed to light-based disinfecting methods to be obvious over the prior art. This case provides a helpful example of how negative claim limitations can affect an obviousness determination ...
OSHA has released its long-awaited emergency rule requiring the COVID-19 vaccine or weekly testing for many employers. With compliance deadlines coming up, Bradley is here to help employers navigate this new rule to stay in compliance. While we monitor the outcome of judicial review of OSHA’s ETS, we suggest taking the following steps to prepare your workplace for compliance with the new vaccine or test mandate: Develop a policy. Educate employees ...
November 5, 2021 By: John Epperson The U.S. Occupational Safety and Health Administration (OSHA) published its much-anticipated Emergency Temporary Standard (ETS) regarding COVID-19 vaccination and testing on November 5, 2021. The ETS went into effect immediately upon publication in the Federal Register with requirements phased in over 30 to 60 days ...
On Nov. 4, 2021, the Centers for Medicare and Medicaid (CMS) released a new Interim Final Rule (IFR) regarding staff vaccination at facilities that participate in the Medicare and Medicaid programs. The IFR requires covered employers to ensure that staff receive their first dose no later than Dec. 5, 2021 and achieve full vaccination no later than Jan. 4, 2022. The vaccine rule that was also released on Nov ...
The States of Guernsey has voted on what types of individual beliefs may benefit from legal protection from discrimination. The vote (by a majority of 20 to 16) concluded that the incoming anti-discrimination ordinance (the Ordinance) will provide protection from discrimination on the grounds of religious belief only. States' members rejected the proposition that the Ordinance should offer protection from discrimination on the grounds of non-religious philosophical beliefs ...
In association with Macmillan Davies and led by Employment Partner, Emma Morgan and Associate, Lauren Bholé, this webinar focused on the menopause in the workplace. With World Menopause Day having just passed (18 October 2021) and a parliamentary debate on the menopause having entered the House of Commons in September 2021, the menopause has been a focal point for media coverage ...
Technological advancements coupled with a desire to reduce inefficiencies in the workplace, has led to an increase in the use of artificial intelligence (AI) by employers, typically in recruitment and performance management. Data protection considerations However, employers need to be aware of their data protection obligations and great care is needed when contemplating the use of AI processes to make decisions without human involvement ...
In February 2012, the FATF published the revised FATF Recommendations (also known as the Standards). The Standards continue to develop to detect and prevent new money laundering and terrorist-financing techniques impacting the international financial system, such as misuse of virtual assets and COVID-19 related threats ...
On Nov. 4, 2021, the Occupational Safety and Health Administration (OSHA) issued its highly anticipated emergency temporary standard (ETS) mandating employers of 100 or more employees to implement a COVID-19 vaccination or testing requirement. This standard implements the policy goals announced by the Biden administration in September ...
A recent Fifth Circuit ruling suggests a softening of the SEC’s obligation to return disgorgement awards directly to victims, says Elisha Kobre, a partner at Bradley Arant Boult Cummings LLP. The issue is relevant because the Dodd-Frank Act created a specific fund to hold monetary sanctions collected by the SEC, including disgorgement amounts not directly distributed to victims or used in other specified ways, he explains. The U.S ...
On November 4, 2021, the Occupational Safety and Health Authority (“OSHA”) issued the 490-page Emergency Temporary Standard for COVID-19 Vaccinations and Testing (“ETS”), which is to be effective as of November 5, 2021. The ETS will remain in effect for six months, when it is expected to become a permanent rule. The ETS itself is available here ...
Historically, businesses involved in the U.S. defense industrial base have been protected from foreign direct investment by the Committee on Foreign Investment in the U.S. (CFIUS) — but changes to U.S. laws and regulations on foreign direct investment have expanded the types of businesses that are now protected ...
Do you have a unionised workforce? If so, the Kostal (Kostal UK Ltd v Dunkley and others [2021] UKSC 47 (27 October 2021)) decision is a must read. If you are an employer which recognises a union - or unions - then the Kostal decision is unlikely to have escaped your notice. The case was brought because an employer ‘went around’ the recognised union and made a pay offer direct to employees despite there being an agreement with the union in place ...
