Employer Checking Service (ECS) checks are a vital step in the right to work check process. Positive Verification Notice (PVN) from the ECS can ensure that an employer maintains a statutory excuse against liability for a civil penalty for illegal working in situations where an employee’s visa expires during the course of their employment. ECS checks are required in situations where an employee is on a time limited visa that expires during employment ...
In recent years, there has been a surge in new union organizing efforts and tactics to unionize and organize employers around the country. From Amazon workers in Jacksonville to Starbucks employees in 280 stores and counting, unions are imploring workers to turn to unions to help address issues like low wages, lack of benefits, and poor working conditions. Unionizing has become more heavily publicized, even romanticized, in the media and many employees have bought in to the movement ...
The direct overseas offering and listing by domestic entities refers to the overseas offering and listing by joint-stock companies registered and incorporated domestically in China (the "Direct Overseas Listings"), which is currently one of the main ways for domestic entities to be listed overseas. Prior to the implementation of the New Filing Rules, the Direct Overseas Listings are subject to the examination and approval by both the CSRC and the overseas securities regulatory authorities ...
On February 17, 2023, the New Filing Rules was released by the China Securities Regulatory Commission ("CSRC"), which will come into force on March 31, 2023. In the meantime, the Notice of the State Council on Further Strengthening the Administration of Overseas Stock Issuance and Listing (State Council Announcement [1997] No. 21) (the "97 Red Chip Guidelines") will be repealed on the effective date of the New Filing Rules ...
On 17 February 2023, the People's Bank of China (PBoC) issued for public comments the Interim Measures for the Administration of Interconnection and Cooperation between the Interest Rate Swap Markets of the Mainland and Hong Kong (Draft for Comments)(the "Draft Swap Connect Measures"). The public comment period is open until 4 March 2023 ...
In recent years, there has been a surge in new union organizing efforts and tactics to unionize and organize employers in the state of Florida. From Amazon workers in Jacksonville to farmworkers in Immokalee, unions are imploring Floridian workers to turn to unions to help address issues like low wages, lack of benefits, and poor working conditions. Unionizing has become more heavily publicized, even romanticized, in the media and many employees have bought in to the movement ...
This has been driven by a rise in flexible working arrangements and the so-called 'gig economy' as well as by employers seeking creative ways to reduce costs in a restrained economic environment. With this in mind, the Employment Act 2000 was amended in 2021 to allow the Ministry of Economy and Labour to publish guidance to assist in determining whether a person is an employee or an independent contractor ...
On February 17, 2023, China Securities Regulatory Commission ("CSRC"), as approved by the State Council, released new rules for the filing-based administration of overseas securities offerings and listings by Chinese domestic companies ("New Filing Rules"). The New Filing Rules signal a new era of unified filing system for overseas offerings and listings by Chinese companies. We have summarized below five key points of the New Filing Rules for your quick reference ...
On the 14th of February 2023, the General Department of Taxation (“GDT”) issued Notification 5367 (“Notification 5367”), which provides the 2022 market interest rates for Employee Loans in accordance with Article 15 of Prakas 543 on Tax on Salary and Instruction No. 7015 GDT dated 13 March 2020. The market interest rates for 2022, based on the average of eleven (11) commercial Cambodian banks, are as follows: USD – 8.35% per annum Khmer Riel – 8 ...
On February 7, 2023, the Division of Examinations of the United States Securities & Exchange Commission (“EXAMS”) published the 2023 Examination Priorities. Like previous years, the 2023 Examination Priorities provides certain data regarding the scope of the examination program and the growth of the investment adviser community ...
The refinancing policies for listed companies on the Shanghai and Shenzhen Stock Exchanges will be revised as a part of the full implementation of the registration-based stock issuance system reform, in addition to the reform of the IPO-related rules ...
When terminating employees and senior executives, including in case of a conflict, the main focus should be on negotiating separation terms and concluding a mutual termination agreement (“MTA”). However, protecting the company’s interests and ensuring that any related processes are legally compliant and unhindered, entails a much wider range of issues and actions that need to be considered prior to and once the agreement with an employee has been reached ...
The National Pension Commission (PENCOM) recently introduced a new category of fund which complies with sharia principles of investment. The Non-Interest Fund (Fund VI) permits pension contributors and retirees to choose the preferred investment portfolio they would want their pension contributions remitted to ...
On December 8, 2022, the Thailand Board of Investment (the “BOI”) issued 17 announcements (Announcement No. 8/2565 to No. 24/2565) aimed at developing a new economic model as part of its investment promotion strategy for the next five years (2023 – 2027) in accordance with the National Economic and Social Development Plan (Thailand 4.0). All announcements went into effect at the beginning of January 3, 2023 ...
February 13, 2023 By: Thomas M. O’Connell, Jennifer M. Misetich, and Kathryn B. Fox Each New Year in California comes with several new laws that impact the workplace, including those in the franchising industry. With each year that passes, the California Legislature reminds us that their intent is to provide employees across our state with vast worker protections and rights, placing a greater burden on employers to maintain legal compliance. This year is no different ...
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 ...
Introduction Mdeon, the legally recognised Belgian ethical platform for healthcare professionals and the pharmaceutical industry, announced several new ethics rules applying from 1 January 2023. The present blog post discusses their practical importance for the broader healthcare community, and particularly (i) several new ethic rules in light of the ascendant trend of virtual and hybrid scientific events, and (ii) new maximum hospitality amounts that can be offered to healthcare professionals ...
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 ...
On February 1, 2023, the China Securities Regulatory Commission ("CSRC"), the Shanghai Stock Exchange ("SSE"), the Shenzhen Stock Exchange ("SZSE"), and the Beijing Stock Exchange ("BSE") issued for public comments draft rules and regulations (the "Draft Rules") related to the registration-based stock issuance system. The Draft Rules mark the official launch of the full implementation of stock issuance reforms in China ...
[[{"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 ...
Overview A VASP will need: a licence (a "Part III VASP Licence"); and to be regulated by the Guernsey Financial Services Commission (the "Commission"). A Part III VASP Licence is required unless an exemption is available under the LCF Law or the "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" (the "LCF Notice") ...
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 ...
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 ...
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 ...
