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| 12 November 2009 |  | Procurement Law - Rejection of late or incomplete tender submissions not disproportionate, even if IT problems are the cause
Client Alert - Construction & Engineering, Hong Kong
The recent decision of the English High Court in JB Leadbitter & Co Ltd v Devon County Council confirms that it is only in exceptional circumstances that proportionality will require a public body to accept a late or incomplete tender submission even where IT difficulties are responsible for causing non compliance with tender conditions. |
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| 12 November 2009 | | PRC Labour Law in a Nutshell: What types of PRC individuals can be employed in the PRC?
Client Alert - Employee Benefits, Employment, Employment & Benefits, China
What types of PRC individuals can be employed in the PRC? Basically any PRC individual can be employed in China except for any person under the age of 16. |
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| 12 November 2009 | | No jurisdiction for Lehman scheme dealing with client assets
Client Alert - Global Financial Markets Initiative, Restructuring, Bankruptcy & Insolvency, United Kingdom / England & Wales
The Court of Appeal has unanimously upheld the decision of Mr Justice Blackburne dated 21 August 2009, holding that the Court did not have jurisdiction to sanction a scheme of arrangement ("Scheme") proposed by the administrators of Lehman Brothers International (Europe) ("LBIE") with respect to client (trust) assets held by LBIE. |
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| 11 November 2009 |  | Reform of electronic communications in the EU – one step closer
Client Alert - Antitrust & Competition, United Kingdom / England & Wales
On 5 November, the European Commission (“Commission”) announced that a committee of representatives from the European Parliament and the Council of Ministers had reached agreement on the reform of the existing EU regulatory framework for electronic communications. |
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| 10 November 2009 | | Vietnam Issues Preliminary Report in Country’s First Trade Remedy Case
Client Alert - Global Trade, Government Relations, Vietnam
The Vietnam Competition Authority (VCAD) of the Ministry of Industry and Trade (MOIT) of the Socialist Republic of Vietnam has issued a preliminary report (in Vietnamese only) dated October 30, 2009, in its safeguard investigation of imported float glass products. Although the Ordinance permitting safeguard measures was enacted in 2002, and those for anti-dumping and countervailing duty measures followed in 2004, Vietnam, which became a member of the World Trade Organization on January 11, 2007, has not previously conducted a trade remedy case. |
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| 10 November 2009 | | US Securities and Exchange Commission Proposes Mandatory Credit Ratings Disclosure and Other Actions Relating to Rating Agencies
Client Update - Corporate & Securities, Securities, United States
In October 2009, the Securities and Exchange Commission proposed rules requiring disclosure of credit ratings used by registrants in connection with registered offerings of securities. See Release Nos. 33-9070; 34-60797; IC-28942, available at http://www.sec.gov/rules/proposed/2009/33-9070.pdf. |
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| 10 November 2009 | | Recent Developments in the Regulation of RMB Funds
Client Update - Financial Services Regulatory & Enforcement, China
RMB Funds, investment funds whose capital commitments and contributions are denominated in renminbi, the currency of the People’s Republic of China, have been the subject of considerable discussion in recent months. |
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| 9 November 2009 | | BB-Forum: Wie sieht das nächste Bundesdatenschutzgesetz aus?
Article - White Collar Defense & Compliance, Germany
Am 26.10.2009 wurde der Koalitionsvertrag für die 17. Legislaturperiode des deutschen Bundestages unterzeichnet. Er enthält Eckdaten für ein neues Bundesdatenschutzgesetz. |
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| 9 November 2009 | | Pensions Legal Update - September 2009
Client Update - Pensions, Europe
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| 9 November 2009 | | Pensions Legal Update - July 2009
Client Update - Pensions, Europe
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| 9 November 2009 | | Pensions Legal Update - May 2009
Client Update - Pensions, Europe
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| 9 November 2009 | | Pensions Legal Update - August 2009
Client Update - Pensions, Europe
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| 9 November 2009 | | Pensions Legal Update - June 2009
Client Update - Pensions, Europe
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| 9 November 2009 | | Employment Legal Update
Client Update - Employment, United Kingdom / England & Wales
Please click on the following links to read our Autumn 2009 Employment Legal Update and Legislation timetable. The Update provides commercial and practical advice on employment law developments. |
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| 6 November 2009 | | US Bankruptcy Court Orders Discovery in France Despite Potential Conflict with French Blocking Statute
Client Alert - Electronic Discovery & Records Management, United States
In a decision that highlights the uncertain terrain faced by US litigants involved in overseas discovery, the United States Bankruptcy Court for the District of Delaware held on October 28 that the Federal Rules of Civil Procedure trump a French “Blocking Statute” that restricts discovery. The Blocking Statute, French Penal Code Law No. 80-538, imposes criminal penalties on any French national or corporation that engages in discovery under a foreign judicial system without using the procedures of the Hague Evidence Convention—letters rogatory or letters of commission. |
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| July - August 2009 | | Regulatory Issues for Financial Services Firms in a Time of Crisis
Article - Worldwide
The credit crisis currently impacting the global economy has caused signifi cant regulatory and compliance concerns to surface in the financial services industry. |
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| July - August 2009 | | Recent ERISA Litigation Involving Financial Institutions – Risks Uncovered and Lessons Learned
Article - Worldwide
Whenever significant losses are suff ered by funds or accounts managed on behalf of ERISA plans, whether as a result of events adversely aff ecting specific securities or assets, or as a result of a general market decline, there often is a rise in ERISA fiduciary litigation against investment service providers to ERISA plans. |
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| 5 November 2009 | | Effect of Severance Arrangements on the Performance-Based Compensation Exception to the $1 Million Deduction Limit
Client Update - Employee Benefits, Executive Compensation, United States
US Internal Revenue Service (IRS) Revenue Ruling 2008-13 (the “Ruling”), available at http://www.irs.gov/pub/irs-drop/rr-08-13.pdf, describes an incentive compensation arrangement that was generally intended to provide payment only if certain performance goals were attained, but also provided for payment by reason of an executive’s involuntary termination of employment (which included termination by the company without cause and termination by the executive for good reason) or by reason of retirement, in each case without regard to satisfaction of the performance goals.
The Ruling held that the incentive compensation would not satisfy the “performance-based compensation” exemption from the $1 million limit on deductible compensation imposed by Internal Revenue Code section 162(m), even if the compensation was actually paid upon the attainment of the applicable performance goals. The holding reversed the holdings of earlier IRS private letter rulings. |
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| 5 November 2009 | | The European Commission consults on draft guidance for the antitrust assessment of multilateral interbank fees (“MIF”) within the Single Euro Payments Area (SEPA)
Client Alert - Antitrust & Competition, Corporate & Securities, Litigation & Dispute Resolution, United Kingdom / England & Wales
On 3 November 2009, the European Commission (“Commission”) invited comments on a draft guidance to participants in the SEPA Direct Debit (“SDD”) scheme for the assessment of MIFs under EC competition rules on anti-competitive agreements. |
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| 5 November 2009 | | Foreign Account Tax Compliance Act of 2009: Information Reporting for US Client Accounts at Non-US Financial Institutions
Client Update - Financial Services Regulatory & Enforcement, Tax Transactions & Consulting, United States
On October 27, 2009, Senators Baucus and Kerry, together with Representatives Rangel and Neal, introduced the Foreign Account Tax Compliance Act of
2009 (the “Act”). The bill is the product of consultation
between Congress and the US Treasury Department (Treasury) and is intended to curb the abuse of offshore
bank and investment accounts by US taxpayers. |
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