On Wednesday, October 3rd., it was published in the Official Gazette the provisional suspension issued by the Constitutional Court of Section 180, 4., of Decree 10-2012 which abrogated the withholding exemption contained in Section 12 of Decree 80-2000 ...
Last summer, North Carolina adopted into law "An Act to Require Counties, Cities and Employers to Use the Federal E-Verify Program to Verify the Work Authorization of Newly Hired Employees" (the "Act"). What this means to private employers is that depending on the size of your workforce, you may be required to use the E-Verify program for all hiring. Effective October 1, 2012, all North Carolina employers with more than 500 employees must use the E-Verify program ...
The Information Commissioner's Office (ICO) recently fined an organisation £250,000 fter its outsourcing vendor carelessly dumped confidential financial data in ublic recycling bins. This incident provides a stark reminder to organisationsthat they remain legally responsible for personal data, even where they utsource data processing activities to third parties ...
Temporary Suspension of the Definition of Pension Plans (employees' deductible expenses) as those approved by the “Corresponding Authority” Provisional Suspension of mandatory use of Banking System to evidence Payments and Disbursements of Expenses Higher than Q.30,000 ...
On October 17, 2012, there was published in the Federal Official Gazette an executive order issuing the Federal Act to Prevent and Identify Illegally-Funded Transactions. The purpose of the Act is to track and investigate activities and transactions involving resources illegally obtained ...
With election fever in full swing, you might expect governing to take a back seat to politics. However, on September 28, 2012, President Obama signed Senate Bill 3245 into law. Senate Bill 3245 renews four U.S. Department of Homeland Security-administered programs, including E-Verify and the EB-5 Regional Center program. As such, both programs have been extended by three years from their original termination dates of September 30, 2012 to September 30, 2015 ...
On August 30, 2011, Hart Stores Inc./Magasins Hart inc. ( hereinafter “Hart”), filed for protection under the Companies’ Creditors Arrangement Act (hereinafter the “CCAA”). As part of the restructuring, Hart closed down 32 out of 92 points of sale and laid off 640 out of 1,600 employees. Included in the lay off are five executives, who are the subject of this bulletin.The executives were all laid off by means of a simple notice of termination ...
On May 14, 2012, the Honourable Normand Gosselin, J.S.C., ruled on an amended motion seeking the sanction of a plan of arrangement concerning a debtor, Norgate Metal Inc. ("Norgate").1 The judgment is special in that Norgate asked the court to annul some of the votes that had been cast against the plan of arrangement. Norgate submitted that the only reason why the creditors who cast those votes had voted against the plan was that they wished to eliminate a competitor from their industry ...
In an article published in the 09 August 2012 issue of Law Technology News, lawyer and media consultant Robert J. Ambrogi of Massachusetts gave some tips to keep social networking in line with ethics. First, remember that the same rules apply. Blogs, social networks, Twitter, and the like remain relatively new forms of media, but the same old ethical rules apply. Second, do not betray client confidences ...
The constitutional right to privacy was discussed in the decision promulgated on 18 October 2011 by the Philippine Supreme Court (SC) in the case of Briccio “Ricky” A. Pollo v. Chairperson Karina Constantino-David, et al. (G.R. No ...
The use of social media is now a fact of life, but many employers are struggling to keep up with the consequences of rapid technological change.Technology develops fast: it is hard to believe that Twitter has only been with us since 2006. The law moves more slowly and regulating new employee behaviours within the existing legal framework can be a challenge ...
If you a trader, financial analyst or other financial technocrat and are thinking of setting up a fund, then the British Virgins Islands is probably your best bet. In today’s financial environment, investor capital for a start up fund can be hard to come by ...
On Monday October 29, 2012 the B.C. Property Assessment Appeal Board released an important decision reducing the assessed value for property tax of the upland land and improvements at the Horseshoe Bay Ferry Terminal to a nominal value ...
The Supreme Court of Canada decision in R v Cole, 2012 SCC 53 may have a significant impact on how employers manage the use of digital devices in the workplace. While a constitutional and criminal decision at its core, the case nevertheless recognizes the importance of employees’ reasonable expectation of privacy when using work computers and other digital devices. In Cole, the accused was a high school teacher who was issued a laptop computer by his employer ...
Article 63 of Government Regulation Number 74 of 2011 on The Procedures for Exercising Tax Rights and Fulfilling Tax Obligations (“Regulation 74/2011”) mandates the promulgation of a Minister of Finance (MOF) Regulation on the suspension of a tax crime investigation ...
On Wednesday, October 3rd., it was published in the Official Gazette the provisional suspension issued by the Constitutional Court of Section 180, 4., of Decree 10-2012 which abrogated the withholding exemption contained in Section 12 of Decree 80-2000 ...
Temporary Suspension of the Definition of Pension Plans (employees' deductible expenses) as those approved by the “Corresponding Authority” Provisional Suspension of mandatory use of Banking System to evidence Payments and Disbursements of Expenses Higher than Q.30,000.00 In the past, the Tax Administration questioned on a case by case basis Pension Plans administered by private Banks, as employees´ deductible expense ...
According to the provisions of Law 18,131, as of December 31 of each year, all taxpayers should compare the contributions actually made to the National Health Fund ( hereinafter "FONASA" ) with the annual cap filler ( hereinafter "STOP ANNUAL " ) ...
A federal court recently held that two investment funds are not jointly and severally liable for a bankrupt portfolio company’s withdrawal liability to a multiemployer pension plan disagreeing with a 2007 opinion by the Appeals Board of the Pension Benefit Guaranty Corporation (the “PBGC”). The Massachusetts U.S. District Court ruled there was no liability because the investment funds are not “trades or businesses” for purposes of ERISA’s joint and several liability rules ...
North Carolina’s banking laws have been comprehensively updated for the first time in 80 years and provide the state with one of one of the most modern banking systems in the country. Effective October 1, 2012, the bipartisan legislation is a product of compromise and joint effort on the part of legislators, banks and consumer advocates ...
In a time when foreclosures are all too common, many secured lenders end up taking title to the real properties securing their loans. One of the questions, then, is should a lender obtain an owner’s title insurance policy or is the loan title insurance policy sufficient?As we all know, title insurance reduces the risk of the insured owner or lender by insuring one or both against loss or damage arising out of defects to or liens on title ...
Is your community bank or holding company still a public company? Are you making periodic filings — 10-K's, 10-Q's, 8-K's, Proxy Statements — to the SEC or your primary federal bank regulator? Are you still subject to Sarbannes-Oxley (SOX)? Why? A large number of community bank holding companies have filed to deregister from reporting to the Securities and Exchange Commission (SEC) ...
On October 24, 2012, the Harper government announced its intentions to enact new regulations to protect consumers who use prepaid credit cards in order to broaden their options regarding the forms of payment that best suit their needs. Such prepaid payment products allow consumers to make purchases or cash withdrawals through a payment network like American Express, MasterCard or Visa, with funds that have been paid in advance to a financial institution ...
Two recent decisions of the Court of Appeal Remind us of the duty on Investment Advisors and Financial Securities Advisors to know their client and the correlative duty of the information. In both cases, the Court of Appeal held that the Advisor has breached his duty to know his client, assess the Client's needs, and inform and advise the Client. Both cases also dealt with the Client's possible contributory negligence ...
The IRS plans to begin recurring market segment examination of tax-exempt bonds, including the hospital market, according to statements made by Bob Griffo, Supervisory Tax Law Specialist with the Internal Revenue Service (IRS), at a recent National Association of Bond Lawyers conference. For the first year of the program, the IRS plans to examine between 20 to 40 tax-exempt hospitals ...
