Last week I attended a student expulsion hearing and it reminded me that now might be a good time to provide some tips to county boards of education on these hearings. As we all know,W. Va. Code 18A-5-1a andState Policy 4373 require that a student be afforded a hearing before the county board of education prior to being expelled. Specifically,W. Va ...
In 1527, two inhabitants of the Royal Burgh of Haddington lent 1800 merks to the Abbey of Melrose, to be repaid by the Abbey to their bankers, in what is understood to be the first recorded reference to bankers in Scotland. Fast-forward almost 500 years to the present day and modern banking would be unrecognisable to the burgesses of Haddington ...
Introduction I have been asked to speak on the Base Erosion Profit Sharing of the OECD, or better know as BEPS. This is a new acronym that, similar to CRS and the harmful tax initiative program, is geared at a multilateral approach to the application of uniform tax rules and standards. Unlike the CRS and the harmful tax practices initiatives of the past, BEPS has a focus not necessarily on the private client, but on the multinational commercial organization ...
The California Legislature is considering legislation that would, if enacted, prohibit public agencies that form a Joint Powers Authority (JPA) from contracting out of liability for the JPA's pension obligations. Backed by CalPERS, AB 1912 was introduced early this year partly in response to drastic CalPERS pension cuts for former employees of LA Works, a dissolved job-training JPA ...
The political dispute between Qatar and its neighbors escalated with the announcement by Qatar that it would impose a ban on goods from the four boycotting countries, the UAE, Saudi Arabia, Bahrain and Egypt. As we reported earlier, these four countries imposed a trade embargo on Qatar. The measures that were introduced prohibited the direct shipment of goods and the direct transport of passengers to or from Qatar and closed the land border between Qatar and Saudi Arabia ...
Recent changes to Rule G-34 (the Rule) of the Municipal Securities Rulemaking Board (MSRB) will include an exception to the CUSIP requirements for certain direct purchase transactions with a bank or related entity (Direct Purchase Exception) ...
With Administrator Scott Pruitt at its helm, cooperative federalism is the frequently recited principle underlying recent EPA enforcement efforts. As the Environmental Protection Agency’s regulatory oversight in areas like the Clean Water Act is delegated to the states, the agency is relying more upon state and local authorities to enforce the laws. There are shortcomings associated with this approach, which were raised in the recent U.S ...
A common question we receive from school systems relates to whether certain employees (both service personnel and professional personnel) recapture their seniority if there has been a break in their employment with the school system but they later return to employment. Often a break in employment is the result of a voluntary break or unfortunately a reduction in force ...
“We simply cannot go on with this utterly outmoded way of working…Endlessly re-keying in the same information; repeatedly printing and photocopying the same documents; moving files about, losing all or parts of them in the process… It is a heavy handed, duplicative, inefficient and costly way of doing our work and it is all about to go. Considerably past time, we will finally catch up with the world.” Sir Brian Leveson ...
Earlier this year, Prime Minister Theresa May said the government wanted to, “secure broad energy cooperation with the EU”, including by, “exploring options for the UK’s continued participation in the EU’s internal energy market” ...
On April 24, 2018, the Securities and Exchange Commission (“SEC” or the “Commission”) announced its first enforcement action against a public company for failing to disclose a data breach. In a settled cease-and-desist order, the SEC imposed a $35 million civil penalty against Altaba Inc., formerly known as Yahoo! Inc ...
On 20 April 2018, the amendments to the Law on Foreign Exchange (the “Law”) were adopted and will enter into force on 28 April 2018. Exceptionally, the application of certain provisions related to the assuming of competencies over foreign exchange control by the National Bank of Serbia is delayed until 1 January 2019 ...
The Eleventh Circuit’s recent decision in United States ex rel. Hunt v. Cochise Consultancy, Inc., has further complicated the answer to what should be a simple question: What is the statute of limitations in qui tam action when the government declines to intervene? There are currently three different answers to that seemingly simple question depending on the forum in which a case is filed ...
Last week, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert covering the most frequent advisory fee and expense compliance issues identified in over 1,500 deficiency letters sent to registered investment advisers during the past two years. The alert highlighted six categories of compliance risks frequently observed by the OCIE ...
An increased number of corporate transactions and mergers have been observed in the oil and gas sector on the Norwegian Continental Shelf (NCS) in recent years. Several oil majors and traditional utilities and downstream companies have reduced their presence and, to some extent, been replaced by smaller companies, including start-ups backed by private equity ...
“Belarus will become the first government in the world that opens wide opportunities for the use of blockchain technology”, said in a statement on the official website of the President of Belarus. Alexander Lukashenko, who signed the new law of the land, believes that his county “has every chance of becoming a regional center in this area.” The Presidential Decree of the Republic of Belarus No ...
Guatemalan respected Judge Erika Aifan issues a historical ruling in a criminal case brought against construction companies. A plea bargain was reached under an abreviated process allowed under Guatemala´s Criminal Law where senior executives for the companies accepted making facilitation payments to the ex-Minister of Construction in order to accelerate backed payments owed for previous construction deals ...
UAE Federal Law 20 of 2016 (Regarding the Pledge of Movables as Security for a Debt) (the Pledge Law) introduced a new regime for registering a pledge over moveable assets which are pledged as security for the repayment of a debt. We reported on this law in our inBrief of January 2017, New UAE Pledge Law Over Moveable Assets, and our Legal Alert of 19 February 2018, The New UAE Pledge Law – Security Registration ...
Increase in merger and acquisition deals notified in Ireland In recent months there has been 27 merger deals notified to Ireland's Competition and Consumer Protection Commission ("CCPC") which is up 42% from the 19 notifications as of the same date last year.This increase is following a pattern of sustained increases, for example, there had been 72 notifications across the whole of 2017 which was an increase on 2016's total of 67 ...
The Report of the Financial Services Ombudsman (FSO) was issued earlier this year. As always, it contains interesting insights on trends and outcomes in FSO complaints. Complaints Received The FSO received 4,538 eligible complaints in 2017, broadly similar to the number in 2016. The FSO closed 3867 complaints during 2017 compared to 4,323 in 2016 ...
BackgroundThe Bank of Uganda recently released the Financial Institutions (Islamic Banking) Regulations (the “Regulations”), which were gazetted on 2 February 2018. The Regulations seek to operationalise Islamic banking in the country, which was introduced by The Financial Institutions (Amendment) Act, 2016 as part of its wider efforts to boost financial inclusion ...
