This week, Congress passed and President Trump is expected to sign a domestic spending package that includes significant changes affecting retirement plans in the SECURE (Setting Every Community Up for Retirement Enhancement) Act, and a permanent repeal of the “Cadillac tax” on high-cost employer-sponsored health coverage that was enacted with the Affordable Care Act (ACA). The SECURE Act is the most comprehensive set of changes to retirement plan rules in many years ...
The National Labor Relations Board (NLRB), in Valley Hospital Medical Center, 368 N.L.R.B. 139 (Dec. 16, 2019), ruled an employer’s obligation to check off union dues expires along with the underlying collective bargaining agreement. This overrules a 2015 board decision and reestablishes a longstanding rule first articulated in 1962. Reasoning Employers and unions must negotiate in good faith over workers’ terms and conditions of employment ...
On 27 November 2019 the Federal Council adopted a dispatch message to improve the legal framework governing distributed ledger technologies (DLT) in Switzerland. The Federal Council's objective is to increase legal certainty, remove obstacles to DLT-based applications and limit the risk of abuse. Parliament will examine the dispatch message in early 2020. The government's press release is available in English, German, French and Italian ...
Small Claims Appeal Application (District Court, Tel Aviv) 56432-07-17 Iberia Airlines v. Fleisher Peled et al. The District Court in Tel Aviv-Yafo with an expanded three judge panel, rejected Iberia Airlines' appeal in the matter 56432-07-17 Iberia Airlines v. Fleisher Peled et al ...
On Dec. 13, 2019, the National Labor Relations Board (NLRB) announced a Final Rule which modifies representation case procedures. The amendments modify the procedures to permit parties additional time to comply with various pre-election requirements instituted in 2015 ...
The Committee on Foreign Investment in the United States (“CFIUS”), the interagency panel at the Department of the Treasury that reviews transactions for potential national security risks, recently released the public version of its latest annual report to Congress ...
1. There is a high possibility that you will have to present your case to an expert: Although the appointment of experts is more likely in disputes involving technical issues (e.g. maritime disputes, construction disputes, etc.), it is increasingly common for the UAE courts to refer disputes which, on the face of it do not require expert assistance, to experts. The courts have the power to do so in terms of Article 69 of the Federal Evidence Law (No ...
On Dec. 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of Currency (OCC) in conjunction with the Conference of State Bank Supervisors (CSBS) issued a joint statement entitled “Providing Financial Services to Customers Engaged in Hemp-Related Businesses ...
The fintech boom is changing rapidly both the way we work and how we conduct business. From managing our budgets and payments, to investments, insurance and obtaining loans and finance, fintech is steadily influencing everyday life. In a sector estimated to have attracted in excess of £2 billion in UK investment last year alone, Scotland hosts a thriving fintech community ...
Will the release of its digital currency be China’s next salvo in its bid for world domination?One of the biggest developments in global finance has recently occurred, but not enough people are talking about it. It features technology, money and a battle between global superpowers ...
In United States v. United States ex rel. Thrower, No. 18-16408, on November 14, a panel of the Ninth Circuit gave a skeptical reception to the Department of Justice (DOJ) argument that the district court’s denial of the government’s motion to dismiss a False Claims Act (FCA) qui tam complaint against Academy Mortgage Corporation (Academy) invaded the government’s “prosecutorial discretion ...
On November 1, 2019, the Supreme Court granted certiorari in Liu v. Securities Exchange Commission, No. 18-1501. The Court will decide whether the Securities Exchange Commission (SEC) may seek and obtain disgorgement from a defendant as equitable relief for a securities law violation. The outcome will have widespread implications for corporate and securities lawyers ...
To improve the effectiveness of integrated licensing in the financial services sector, the Financial Services Authority (Otoritas Jasa Keuangan–“OJK”) introduced an electronic licensing system to integrate all licensing in the financial services sector. OJK Regulation No. 26 / POJK.01 /2019 on Electronic Licensing within the Financial Services Sector (“POJK No. 26/2019”) came into effect on 28 October 2019 ...
Any person injured in his or her business or property by a pattern of racketeering activity may have standing to seek relief pursuant to the Organized Crime Control Act of 1970 ...
Under a new proposed rule, certain required disclosures could be provided electronically to all retirement plan participants, including former employees and beneficiaries. On October 23, 2019, the U.S. Department of Labor issued a proposed rule intended to expand the use of internet technology to furnish ERISA-required disclosures to plan participants, and to reduce printing and mail expenses ...
Under a new proposed rule, certain required disclosures could be provided electronically to all retirement plan participants, including former employees and beneficiaries. On October 23, 2019, the U.S. Department of Labor issued a proposed rule intended to expand the use of internet technology to furnish ERISA-required disclosures to plan participants, and to reduce printing and mail expenses ...
phttps://www.huntonak.com/en/insights/looking-beyond-the-fines-accountability-in-light-of-ftc-consent-orders-iapp-perspectives ...
The dangers of workers developing silicosis amid the fabrication of engineered stone has become a topic heavily discussed in the news and elsewhere recently. Silicosis is a lung disease that develops from the exposure and inhalation of silica particles. On October 2, National Public Radio (“NPR”) aired a story entitled “Workers Are Falling Ill, Even Dying, After Making Kitchen Countertops ...
2019 was a banner year for Governor Gavin Newsom. The Governor signed numerous bills into law, most of which are not employer friendly. For an in-depth analysis of how each law might affect your organization, contact your Hanson Bridgett labor and employment lawyer and/or join us for our Annual Client Seminars on January 28, 2020 (Walnut Creek), January 29, 2020 (Sacramento), or January 30, 2020 (San Francisco). Unless otherwise indicated, each new law takes effect on January 1, 2020 ...
The era of cryptocurrencies has come: whilst they were initially used as a specific means of payment and as a source of investments other functions are now being explored, such as the possibility of cryptocurrencies being directly contributed to a company in the context of its incorporation ...
A few weeks ago, CalPERS issued a Circular Letter to provide guidance to contracting agencies about reporting the uniform allowance, a statutory form of special compensation that applies only to classic CalPERS members. The Circular Letter provides much needed guidance about the uniform allowance, specific examples of reportable and non-reportable items, and reporting standards ...
The U.S. Department of Homeland Security (DHS) published a final rule on January 11, 2019, introducing electronic registration requirement for employers seeking to file H-1B cap-subject petitions. The final rule went into effect on April 1, 2019, though the electronic registration requirement was suspended Fiscal Year 2020 (October 1, 2019 – September 30, 2020) to allow USCIS to complete user testing and ensure the system and process are fully functional ...
On November 6, 2019, the IRS announced in Notice 2019-59 cost of living adjustments to the qualified plan dollar limits for 2020. Below is a summary of the limits that are generally relevant for most retirement plans. Effective January 1, 2020: The elective deferral limit for 401(k), 403(b), and eligible 457(b) plans is increased from $19,000 to $19,500. The catch-up contribution limit for those age 50 or older is increased from $6,000 to $6,500 ...
The U.S. District Court in Portland, Oregon, issued a 28-day temporary restraining order (TRO) in an unusual weekend session just before the “Presidential Proclamation on Suspension of Entry of Immigrants Who Will Financially Burden the United States Healthcare System” was to go into effect on November 3, 2019. Judge Michael H. Simon agreed to “freeze things the way they are” so a determination can be made on the merits of the case ...
Our partner, Felipe Moro, and our associate, Diego Lasagna, authored this year’s Thomson Reuter’s Practical Law guide about Banking Regulation in Chile, which provides, “a high level overview of the governance and supervision of banks, including legislation, regulatory bodies and the role of international standards, licensing, the rules on liquidity, foreign investment requirements, liquidation regimes and recent trends in the regulation of banks ...
