Embezzlement and fraud within nonprofit organizations has reached epidemic proportions. According to the Association of Certified Fraud Examiner’s (2020) Global Study which contains an analysis of 2,504 cases of occupational fraud that were investigated between January 2018 and September 2019, 70 percent of frauds occurred in nonprofit organizations ...
Beginning January 1, 2024, companies created or registered in the United States will have to report information about their ownership to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, pursuant to The Corporate Transparency Act (“CTA” or the “Act”). For more information, see our prior alert on this topic here ...
By: Daniel Silva, Sanjay Bhandari, and Manisha Malhotra The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly drafted in response to the pandemic. These regulations and obligations evolved, subtly yet materially, from the first and second rounds of PPP “draws ...
On 17 December 2023, the State Council of the People's Republic of China (the "PRC")[1]promulgated the Regulations on the Supervision and Administration of Non-Bank Payment Institutions (the "Regulations") ...
Please note the following press release. This press release is available at our homepage. Hertha BSC restructuring with Heuking A challenging year for Hertha BSC is coming to an end. The Berlin-based team was forced to reorganize and restructure in particular due to business constraints and in view of its relegation to Bundesliga 2, Germany’s second division of professional soccer. Led by Dr ...
Employment Tribunals have a duty to make reasonable adjustments where a participant is disadvantaged, for example due to disability, to ensure fairness in proceedings. We share our recent experiences of how the Tribunals apply this duty in practice ...
In last year’s predictions, we surmised that the pensions industry at large had put “a busy and unpredictable 12 months” at the top of its wish list at the start of 2022. It seems like everyone enjoyed having that wish granted so much last year that they asked for more of the same in 2023 and well, we certainly got it! What started out as a steady year soon took a different turn ...
On December 13th, 2023, the Chilean Congress approved a bill that modifies the Labor Code regarding prevention, investigations and sanctioning of sexual harassment, workplace harassment and violence in the workplace (hereinafter, the “Law”). Companies subject to the new regulations The Law is applicable to all companies, regardless of their size. The Law also includes regulations applicable to the State Administration and its multiple agencies ...
On December 15, 2023, the Financial Market Commission (“CMF”) published for public consultation a regulatory proposal that will complement the proposed implementation regulation (the “Original Proposal”) of Law No. 21,521 (“Fintech Law”) ...
The Home Office have released a Statement of Changes which includes changes to be made to the rules for visitors coming to the UK, particularly in relation to their permitted activities. On 7 December 2023, the Home Office released Statement of Changes HC 246 with various changes to the Immigration Rules to be implemented prior to the end of January 2024 ...
In an increasingly unpredictable climate, adverse weather can prevent employees from attending the workplace on time, or at all. Here, we discuss what employers can do to mitigate the effect of adverse weather on their business ...
Article 319(1) of the UAE Civil Procedure Law authorises an execution judge to imprison a debtor who fails to satisfy a judgment debt, unless the debtor is able to prove that he is insolvent. Although the text of Article 319(1) places the burden of proving insolvency on the judgment debtor, this appears to have been reversed following a decision of the General Assembly of the Dubai Court of Cassation issued in October 2023 ...
A REVIEW OF THE EVIDENCE (AMENDMENT) ACT 2023 INTRODUCTION The Evidence Act (Amendment) Act 2023 (the Amended Act) was signed into Law by President Bola Ahmed Tinubu on the 12th day of June 2023. The Amended Act was aimed at amending the provisions of the Evidence Act 2011 (the Principal Act) to be in conformity with global technological advancements in evidence taking and its applicability covers all judicial proceedings before Courts in Nigeria ...
THE BENEFICIAL OWNERSHIP REGISTER: IMPLEMENTING THE FINANCIAL ACTION TASK FORCE’S RECOMMENDATIONS ON MONEY LAUNDERING AND TERRORISM FINANCING IN NIGERIA INTRODUCTION Section 119 of the Companies and Allied Matters Act (“CAMA”) 2020, in conjunction with the Persons with Significant Control Regulations (“PSC Regulations”) 2022, requires companies, Limited Liability Partnerships (“LLPs”), and by extension, foreign exempted companies under
Over the last three years, the U.S. Department of Justice has pursued its first-ever criminal antitrust cases targeting alleged deals between companies to avoid poaching each other's employees and to fix wages. In total, the DOJ has brought six cases. Four resulted in acquittals, while just one case yielded guilty pleas. Last month, the DOJ voluntarily dismissed its sixth and last case without explanation. A number of lessons can be drawn from this wave of labor-market prosecutions ...
The government has produced draft regulations which will make further changes to holiday laws in Great Britain. We look at what is planned and what it means for employers. The government has been reviewing which European Union laws to retain and has taken that opportunity to consult about changes to holiday pay, resulting in the publication of draft regulations. We look at what is planned and what it means for employers ...
It is highly documented that the transport sector is heavily male dominated. Indeed, reports suggest that while women account for 47% of the general UK workforce, within the transport sector women only account for 20% of the workforce and only 3% of HGV drivers in the UK. Many employers are aware of the work that needs to be done in this sector in terms of addressing and challenging behaviours, changing mindsets and creating inclusive cultures ...
The timing of challenges to an expert witness’s evidence has been considered in the Supreme Court case of Tui Ltd v Griffiths [2023] UKSC 48, with judgment handed down on 29 November 2023. Although the case emanated from a holiday claim in the County Court, this Supreme Court decision is of significance to all cases where parties seek to rely on evidence from experts or witnesses of fact ...
