Employers must act by the end of 2009 if they want to take advantage of transition relief provided by Notice 2008-113 (the Notice) for certain types of operational violations of the rules under Internal Revenue Code Section 409A that occurred prior to 2008.
Section 409A. As discussed in many of our prior client alerts, Section 409A imposes adverse tax consequences on participants in nonqualified deferred compensation arrangements that fail in form or in operation to meet the requirements of Section 409A at any time during a taxable year.
Rule 14a-8(i) of the Securities Exchange Act of 1934 provides a list of the permitted, non-procedural reasons for an issuer to exclude a shareholder proposal from its proxy statement. Rule 14a-8(i)(7) allows an issuer to exclude a proposal that “deals with a matter relating to the company’s ordinary business operations.”
Scenario:A large company is defending itself in a breach of contract lawsuit. In order to prepare its defense, the company requests documents from the plaintiff that include electronically stored information (ESI). The company believes that plaintiff possesses certain emails and drafts of the contract that may refute plaintiff’s interpretation of the contract.
EU Competition; Phase I merger notifications published in the Official Journal; Merger Clearances; Articles 81 and 82C; State Aid; UK Competition; Competition - EU Member States; Non-EU Competition
On 28 July 2009, the Thai Cabinet resolved that any contract entered into between the government and a private Thai or foreign entity should not include an arbitration clause.
You are entitled to terminate your employee if, during the probationary period, the employee fails to meet the standards required for the particular role for which the employee is recruited. In the mainland PRC, it is difficult to bring the employment relationship to an end and therefore, this approach is often used by employers.
On 23 October 2009 the Beijing Dongcheng District People's Court announced the settlement of an Anti-Monopoly Law (AML) case brought by an activist lawyer in Beijing against China's largest mobile network operator, China Mobile.
EU Competition; Phase I merger notifications published in the Official Journal; Merger Clearances; Articles 81 and 82 EC; State Aid; UK Competition; Competition - EU Member States; Non-EU Competition
Legislation came into force in the UK on 21 October 2009 which will have the effect of largely prohibiting for the time being the transfer of audit working papers to the audit regulators of countries outside of the European Economic Area (EEA), including the PCAOB in the US.
The joint administrators of Lehman Brothers International (Europe) (“LBIE”) have released their second statutory six month progress report for the period 15 March 2008 to 14 September 2009 (the “Report”).
While Congress continues to work on new US climate change legislation, the US Environmental Protection Agency (EPA or Agency) is rapidly cranking out greenhouse gas (GHG) regulations under the existing Clean Air Act (CAA). Two of the Agency’s recent initiatives — a final rule requiring annual reporting of GHG emissions and proposed thresholds for GHG emissions under the CAA’s Prevention of Significant Deterioration (PSD) and Title V permitting programs —
are addressed below.
The Financial Services Authority (the “FSA”) yesterday published the “Turner Review Conference Discussion Paper – A regulatory response to the global banking crisis: systemically important banks and assessing the cumulative impact” (the “Discussion Paper”).
The State Administration of Foreign Exchange ("SAFE") recently released new regulations with respect to the qualified foreign institutional investor ("QFII") scheme. The amendments relate to the amount of investment quota allowed, the duration of the lock-up period, the opening of accounts, application procedures, and some other aspects. These measures signal the PRC government's intention to attract more foreign investment into mainland China's securities markets.
In DTD Enterprises Inc. v. Wells, No. 08-1407, the US Supreme Court recently declined to review a New Jersey trial court’s order that, without considering the merits of the underlying claims, directed a class-action defendant to pay the entire cost of notice to a class simply because the defendant could afford to pay while the plaintiff could not. In seeking certiorari, the defendant argued that imposing such costs on it violated the Constitution’s Due Process Clause.
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