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Changes to the Notifiable Events Regime
Shoosmiths LLP, September 2021

The government is consulting on much anticipated draft regulations fleshing out the details of the new notifiable event requirements introduced by the Pension Schemes Act 2021...

Teacher Fairly Dismissed for Safeguarding Concerns Despite Lack of Evidence
Shoosmiths LLP, September 2021

Employment cases involving teachers can involve particularly nuanced considerations for schools. It is not easy to balance safeguarding duties with employment law obligations. We look at a recent case which highlights this very issue. The welfare and safety of children is at the heart of every educational establishment’s ethos, but balancing safeguarding duties with the legal rights of teachers can present difficulties...

Pension Awareness Week 2021: Your Guide to Pensions on Divorce and Dissolution
Shoosmiths LLP, September 2021

Pensions form part of the assets that can be distributed between a couple on divorce/dissolution. This guide will provide you with an overview of what you need to know about pensions if you are separating or getting divorced. What pensions can be shared? Defined benefit/final salary schemes (for example public sector schemes) Defined contribution/money purchase schemes (for example personal pensions, SIPPS and some occupational schemes) Additional state pension...

Labour Litigation Guide
ALRUD Law Firm, September 2021

Below, you will find some practical solutions to prepare you for the labour litigation in Russia. The peculiarity of labour disputes in Russia is that they seldom start with great financial demands from employees. They are more about the status of the organisation, its reputation and similar issues. However, practice shows that given the length and formality of litigation, financial claims, originally insignificant, can turn into fairly large claims, over time...

Cambodia: Use of Khmer Language and Currency in Financials and Onsite Inspections
DFDL, September 2021

September 2021 has seen the issuance of Circular 009 on the Usage of Khmer Language and Currency in Accounting Records and Financial Statements (“Circular 009”) and Notification No. 355 on Inspection Visits and Implementation of Interim Fines for Violations of Law on Accounting and Audit (“Notification 355”). We set out the salient points in Circular 009 and Notification 355 below for your reference...

End of the Coronavirus Job Retention Scheme – Considerations for Employers
Shepherd and Wedderburn LLP, September 2021

Covering employee wages since 1 March 2020, the Coronavirus Job Retention Scheme ("furlough") is set to end on 30 September 2021, with a deadline for final claims to be made by 14 October 2021. Employers still using the scheme should be engaging with employees about its end, and may now need to make some tough decisions that have been postponed while furlough continued...

The Dramatic Increase in UK Megadeals
Shoosmiths LLP, September 2021

A new report by Shoosmiths, in partnership with Beauhurst, shows that the number of venture capital ‘megadeals’ in the UK has increased tenfold over the last decade. In 2011 a modest five ‘megadeals’ (where £50 million or more is invested into a company) occurred, compared with an astounding 51 megadeals in the first half of 2021...

Chilean Executive Presents “FinTech Law” Bill
Carey, September 2021

On September 3, the executive presented to Congress the anticipated draft of the "FinTech Law", the new regulation that proposes a legal framework applicable to FinTech companies in Chile (the "Bill"). Until now, FinTech companies in Chile have operated without their own or specially designed legal framework, which has generated a series of regulatory inconveniences that have impacted their business model and hindered the development of these technologies in Chile...

Cambodia: Placement of Devices to Measure Volumes of Beer and Non-Alcoholic Beverages to Comply with New GDT Instruction
DFDL, September 2021

On 8 September 2021, the General Department of Taxation (“GDT”) issued Instruction No. 15024 on the obligation to install devices to measure the volume of beer and/or non-alcoholic beverages on the sites of local beverage producing enterprises...

CCCFA Amendments Delayed
MinterEllisonRuddWatts, September 2021

On Thursday 9 September 2021, the Ministry of Business, Innovation and Employment (MBIE) announced a number of changes to legislation due to the shift in COVID-19 alert levels...

Administration Actions Regarding COVID-19 Protocols for Federal Contractors and Large Employers
Schwabe, Williamson & Wyatt, September 2021

Summary On September 9, 2021, President Biden issued orders that have the intent of requiring employers to mandate that their employees are vaccinated against COVID-19 or undergo regular testing and other restrictions...

Administration Actions Regarding COVID Protocols For Federal Contractors and Large Employers
Schwabe, Williamson & Wyatt, September 2021

Summary On September 9, 2021, President Biden issued orders that have the intent of requiring employers to mandate that their employees are vaccinated against COVID-19 or undergo regular testing and other restrictions...

What Employers Need To Know About Employee Retention Credits: Rules for the Second Half of 2021 and General Clarifications
Dykema, September 2021

Employee Retention Credits (“ERC” or “credits”) are available to eligible employers that paid qualified wages after March 12, 2020, and before January 1, 2022. Multiple pieces of legislation and Internal Revenue Service (“IRS”) guidance expanded and modified the ERC rules and determination of eligibility for ERC, and computation of the credits may vary based on each individual calendar quarter in 2020 and 2021...

Warning: Failure to Appoint Replacement Contracts Administrator Leaves Employer Picking up the Bill
Shepherd and Wedderburn LLP, September 2021

This article considers whether a notice is valid when served on a party who is specified in the Contract, but no longer holds office and lacks authority to act...

COVID-19: Payments on Account and Depreciations for a Longer Period than the Maximum Period Established for Tax Purposes
Garrigues, September 2021

In the context of the current COVID-19 pandemic, new measures were approved to enable companies to increase their cash flows. Payments on account (FY2021) Taxpayers who are cooperatives or have obtained in the 2020 fiscal period a turnover up to the maximum limit set for their classification as medium-sized enterprises (i.e...

Tech Disputes: Exclusions and Limitations of Liability
Shoosmiths LLP, September 2021

Exclusion and limitation clauses are central to any IT or technology contract. When a dispute arises exclusions and limitations of liability are invariably key to determining whether there is liability and the extent of it. When a dispute arises exclusions and limitations of liability are very often key to determining whether there is liability, and the extent of it...

Corporate Restructuring Strategies for the Post-Pandemic Recovery
Kudun and Partners, September 2021

Businesses in Thailand are facing a difficult road ahead. The latest wave of COVID-19 infections continues to hammer the economy, further delaying a recovery that many companies were counting on to relieve their financial woes. Those struggles have been considerable. According to the National Economic and Social Development Council (NESDC), Thailand’s gross domestic product shrank by 6.1% in 2020 – the steepest decline since the Tom Yum Kung financial crisis of 1997...

Shearn Delamore & Co. Legal Updates August 2021 (2)
Shearn Delamore & Co., September 2021

Corporate/M&A Amendments to the Main Market Listing Requirements following Enhanced IPO Framework On 11 August 2021, Bursa Malaysia Securities Berhad (“Bursa Securities”) reviewed the Main Market Listing Requirements (“MMLR”) to ensure parity of regulation with the Securities Commission Malaysia’s (“SC”) introduction of an enhanced initial public offering (“IPO”) framework which took effect on 1 January 2021...

Insolvency in Scotland: Back to Basics – Part 1, Winding Up
Shoosmiths LLP, September 2021

This is the first article in 'Back to Basics', a series of articles looking at insolvency processes in Scotland. In this article I examine the court process for winding up a company. A winding up petition is a form of legal action that can be used when a company is unable to pay its debts as they fall due. Sections 122 to 124 of the Insolvency Act 1986 (‘the Act’) deal with how to wind up a company in Scotland...

How COVID-19, Vaccines and the ADA Affect Employees' Remote-Work Requests
Dinsmore & Shohl LLP, September 2021

With COVID-19 vaccines fully available in the United States, employers are approaching work-from-home requests differently than they were a year ago. Dinsmore labor and employment attorneys Ashley Pack, Crystal Spivey Wildeman and Aly St. Pierre wrote about the topic in Best Lawyers: The Litigation Issue. An excerpt is below. Employers are facing legal uncertainty in the form of whether to accommodate continued remote-work requests...

Customer Vulnerability: Immediate Priorities of the FMA
MinterEllisonRuddWatts, September 2021

On 2 September 2021, the FMA published an updated information sheet on its expectations for providers of financial services in relation to customer vulnerability practices (Information Sheet). The FMA acknowledges there is no ‘one-size-fits-all’ approach to developing and embedding processes and practices related to customer vulnerability...

Explaining the Call for Global Tax Reform
ENSafrica, September 2021

Since the G7 meeting on 5 June when the G7 finance ministers announced a global corporation tax of at least 15%, there has been much written and spoken about the new proposed global minimum tax rate. Janet Yellen, the US Treasury Secretary, called the agreement a “historic day for economic diplomacy”...

Data Analytics Gives SEC Enforcement Edge On Earnings
Bradley Arant Boult Cummings LLP, September 2021

In a sign that the U.S. Securities and Exchange Commission continues to ramp up its enforcement efforts, the SEC last week in In re: Healthcare Services Group Inc. charged a health care services company and its chief financial officer and controller as part of the Division of Enforcement's Earnings Per Share, or EPS, Initiative. A Sept...

Prevent and Combat Money Laundering and Terrorist Financing in the Real Estate Sector
PLMJ, September 2021

Regulation 603/2021 was approved by the Governing Board of the Institute of Public Markets, Real Estate and Construction I.P. (“IMPIC”) and came into force on 5 July 2021. The aim of this regulation (“Regulation”) is to establish and regulate the procedures to be adopted in the fight against money laundering and terrorist financing in the real estate sector...

Banking Briefing: In Practice - Pension Schemes Act 2021 Implications for Lending Transactions
Shoosmiths LLP, September 2021

There are indirect, and potential direct, implications for lending transactions from the Pension Schemes Act 2021. Both lenders and borrowers, as well as pensions trustees, have an interest in knowing what's changed and how that might impact their deals. The Act received Royal Assent on 11 February 2021 and updates the Pensions Act 2004. It primarily relates to funding and security of Defined Benefit or ‘Final Salary’ Schemes (‘DB Schemes’)...

 

 

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