If approved by the SEC, the Nasdaq proposal will become a new Nasdaq listing Rule 5608 and the NYSE proposal will become new Section 303A.14 in the NYSE Listed Company Manual. Both proposals conform closely to the language in Rule 10D-1 with some enhancements. This Client Alert provided by Latham & Watkins summarizes the nuances in the stock exchange proposals that will apply to companies listed on each exchange.
Usually, the biggest obstacle in enforcing the right to equal pay is that the employee does not know whether colleagues of the other sex – the Transparency Act focuses on sex, not gender – receive more pay.
This guide provided by Foley & Lardner summarizes the key elements and requirements contained in the proposed rule. In addition it explains how it differs from the special telemedicine registration rule. Finally, it describes what stakeholders can do to make their voice heard, including by submitting comments to the proposed rule, during these next 30 days.
In recent years, companies specializing in artificial intelligence (AI) technologies have been increasingly coveted acquisition targets. Foley & Lardner have provided insight into the AI field transforming our approaches to key issues. Accordingly, it is no surprise that AI has emerged as a prime sector for M&A activity. This guide helps breakdown how to approach risks and rewards in dealing with the rising importance of Artificial Intelligence.
A report reviewing significant wage and hour developments at both the federal and state level.
A report on employment and labor law trends and tactics to consider in 2023.
As of 1 November 2022 trusts and funds for joint account (fondsen voor gemene rekening) will be required to register an Ultimate Beneficial Owner (uiteindelijke belanghebbende) (UBO) with the Dutch UBO Register as managed by the Dutch Chamber of Commerce. The initial registration for existing trusts and funds for joint accounts with the UBO Register will need to be completed before 1 April 2023. A trust with a trustee located in the Netherlands must register its UBO. The same applies, for example, in case a fund for joint account is created under Dutch law. Note that the criteria that apply to determine whether a UBO of a trust or fund for joint account qualifies for registration are different from (and wide in scope) those applied to Dutch legal entities.
The assignment of arbitral claims and arbitral awards is a fast-growing market practice. When entering into agreements for such assignments, it is crucial to ensure that they comply with all the applicable legal requirements. In this context, the assignee should carefully assess the risks that may arise out of the award debtor's rights pursuant to the provisions of the law applicable at the seat of arbitration and/or at the place(s) of enforcement of the award. Under French law there is a specific mechanism called the right of "retrait litigieux" ("disputed withdrawal"). In accordance with this singular legal mechanism, which is designed as a tool to fight against speculation, when a disputed claim is assigned to a third party in the course of any judicial or arbitral proceedings, the debtor is entitled to discharge its debt by paying the assignee the actual price of the assignment, plus interest and costs, instead of the full amount of the original debt (article 1699 of the French Civil Code ). As has been seen in the FG Hemisphere v Democratic Republic of the Congo saga, the conditions and requirements for exercising the right of retrait litigieux in the context of assignment of arbitral claims or arbitral awards are uncertain under French law.
The New Labour Law (33/2021) and its implementing Regulations (together the “New Laws”) were introduced in February 2022. They apply to all private sector employers in the United Arab Emirates (“UAE”) with the exception of employers within the Dubai International Financial Centre (“DIFC”) and Abu Dhabi Global Market (“ADGM”) financial centre free zones. The New Laws represent the biggest change in the employment law landscape in the UAE for 40 years and while there will be continue to be a period of time over which the Courts will test and probe the New Laws, HR practitioners, business owners and legal counsel with responsibility for people related matters in the UAE need to be familiar with the changes and, critically, ensure compliance.
The Abu Dhabi Global Market (“ADGM”) published its Guiding Principles on Whistleblowing on 6 December 2022 (“Guiding Principles”). The Guiding Principles are intended to provide a benchmark or framework for all ADGM entities to work within, and all such entities are encouraged to review and align their own whistleblowing procedures with the Guiding Principles.