Mondaq Business Briefing back issues from January 2008:
Bill Facilities Now Regulated By The UCCC.(Uniform Consumer Credit Code )
Jan 01, 2008 ... New Regulations have been passed bringing the use of bill facilities, such as bills of exchange or promissory notes, within the Uniform Consumer Credit Code (UCCC) where the credit is provided wholly or predominantly for "personal, domestic or household purposes". Until now, ...
The Refinancing Disclosure Trap... And How To Avoid It.(Australian Securities Exchange rule)(Corporations Act)
Jan 02, 2008 ... Key Point Directors of a listed entity need to ensure that, when faced with a spectrum of challenging issues, including the actual solvency and financial viability of an organisation, disclosure obligations are not overlooked. Market disclosure of debt positions is ...
What Is GRC?(governance, risk and compliance)
Jan 03, 2008; ... Key Point A GRC framework does not simply centralise the governance, risk and compliance functions but seeks to integrate all relevant policies, processes, procedures and controls. Well-established governance, risk and compliance functions have for many years formed ...
Perspective: Can Social Networking Co-Exist With The Workplace?(Reprint)
Jan 03, 2008; ... Reprinted with permission from CNet.com. With Facebook and MySpace.com participation growing by leaps and bounds, social-networking sites are making their way into the workplace too. Is that a good thing? Not necessarily if you ask the employers who regularly block ...
Hark...2007 Energy Legislation Signed Into Law! But Who Got The Good Toys?
Jan 03, 2008; ... Originally published December 21, 2007 Ah, the holiday season in Washington, D.C.-concerts, brightly lit trees and candles, snowflakes and fancy parties, not to mention frenzied activities in the House and Senate on critical bills, complete with veto threats, filibusters, ...
AML Update: Managed Investment Schemes.(law for management of investments)
Jan 03, 2008; ... P>AUSTRAC has updated its statement on the unintended exemption of managed investment schemes from the operation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The revised statement is dated 21 December 2007 (the previous statement dated 11 December ...
New Legislation Would Reform The Freedom Of Information Act.
Jan 03, 2008; ... On December 18, 2007, Congress approved a bill that would make the Freedom of Information Act ("FOIA") more formidable by increasing pressure on federal agencies to comply with meaningful deadlines for responses to FOIA requests and imposing consequences for late responses. The bill, known ...
Rise Of The Cyber-Slackers: How Web 2.0 And Generation "C" Could Transform The Workplace.
Jan 03, 2008; ... It will not be news to employers that over the past few years online technology and culture have evolved in remarkable and, perhaps, unexpected ways. Nor will it be news that these advances have brought with them new questions and concerns regarding the role of the Web in employment ...
Harcourt V FEF Griffin [2007] EWHC 1500 (QB). Deep Pockets Revealed: A Defendant's Obligation To Disclose The Full Extent Of His Insurance Cover.(Case overview)
Jan 03, 2008; ... Traditionally Defendants are under no obligation to disclose the extent of their insurance cover to a Claimant, it not being 'relevant' to the issues in dispute between the parties for the purposes of their disclosure obligations under Civil Procedure Rule 31. Likewise, Defendant ...
The Rise Of ERISA Litigation And Its Impact On Collective Trusts - Goodwin Procter To Hold A Webinar On Recent Trends, February 7, 2008.
Jan 03, 2008 ... Originally published December 25, 2007 The past year has seen a dramatic rise in litigation under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). As more of the nation's wealth has moved into retirement savings vehicles - in 2007, over $17 trillion are ...
Courts Address Contract Implications Of Utilizing Subcontractor Bids.(Case overview)
Jan 03, 2008; ... O'Shea v. New Jersey Schools Construction Corporation (New Jersey Appellate Division: 2006) Fletcher-Harlee Corp. v. Pote Concrete Contractors, Inc. (Third Circuit Court of Appeals: 2007) Two recent cases dealing with New Jersey law examine from different points of ...
New York State Follows Lead of New York City In Addressing False Claims.
Jan 03, 2008; ... In 2005, New York City enacted false claims legislation as part of the city's administrative code. The NYC law, modeled loosely after the Federal False Claims Act, was passed to protect New York City from "false or fraudulent claims." In addition, the law was intended to encourage ...
Foreign Trademarks Are Capable Of Protection Under New York Law Unfair Competition Under Theory Of Misappropriation.
Jan 03, 2008 ... The interesting question of whether a trademark used only abroad can be the basis of an unfair competition claim under New York law was decided on December 13, 2007, by New York's highest court, the New York Court of Appeals. ITC Limited v. Punchgini, et al., USCOA 2 No. 165 (N.Y. December ...
SEC Adopts Revisions To Rules 144 And 145.(Securities and Exchange Commission)
Jan 03, 2008; ... On December 6, 2007, the Securities and Exchange Commission ("SEC") issued its final rules ("New Rules") that reduce restrictions on unregistered resales of securities into the public markets. The New Rules amend Rule 144 to relax a number of impediments to reselling both restricted and ...
Reminder-New Chinese Labor Contract Law.(interpretation of new chinese labor laws)
Jan 03, 2008; ... As we reported earlier this year, the PRC enacted sweeping new laws governing employment contracts. Those laws will become effective very soon. If you have operations and employees in China, you need to comply with the New Labor Contract Law effective January 1, 2008. You should be ...
U.S. Companies With Operations In Europe Must Comply With Data Protection Laws.
Jan 03, 2008 ... The European Union's approach to data privacy is completely alien to American companies. But, as a recent decision from the French data protection agency makes clear, an American company with operations in Europe that does not learn how to play by European rules runs a serious risk of ...
New State Legislation Affecting California Employers In 2008.
Jan 03, 2008; ... The 2007 session of the California Legislature produced a number of new laws which will impact the state's private sector employers in the coming year. Below is an overview of those laws we view as most significant. The laws will become effective January 1, 2008, unless noted otherwise ....
Ninth Circuit Panel Modifies Its Opinion In The Wal-Mart Gender Discrimination Class Action.(Case overview)
Jan 03, 2008 ... On December 11, 2007, the U.S. Court of Appeals for the Ninth Circuit issued a modified opinion in the largest sex discrimination class action in United States history, Dukes v. Wal-Mart Inc., Case No. 04-16688. In Dukes, a split three-judge panel of the Ninth Circuit reaffirmed the ...
Washington Supreme Court Applies Gender Discrimination Analysis In Pregnancy Suit.(Case overview)
Jan 03, 2008; ... In its November 29, 2007 decision, the Washington Supreme Court ruled that an employer who refuses to hire a job applicant because of her pregnancy is liable for sex discrimination under the Washington Law Against Discrimination (WLAD), absent a business necessity or a bona fide ...
Fixed Income Investors Promote Enhanced Covenants for Investment Grade Bonds.
Jan 03, 2008; ... A group of more than 50 fixed income investment managers, The Credit Roundtable, has just proposed a set of model covenants for investment grade bonds. The proposed model covenants are contained in a "White Paper" (available at www.creditroundtable.org), that addresses perceived ...
2008 California Legislative Updates For Employers.
Jan 03, 2008; ... With the New Year, new legislative updates go into effect in California. Below is a summary of some of the newly enacted legislative updates for California employers in 2008. New Legislative Updates Computer Professional Exemption (SB 929) Effective ...
NLRB Rules That Employers May Prohibit Employee Use Of Company E-mail Systems For Union Organizing.(National Labor Relations Board)
Jan 03, 2008 ... During the final days of 2007, the National Labor Relations Board added yet another significant ruling to a growing list of decisions that already had organized labor crying foul. In its long awaited decision in The Guard Publishing Company d/b/a The Register-Guard, 351 NLRB No ....
On the Road To New Fuel Efficiency Standards.(Environmental Protection Agency)
Jan 03, 2008; ... On December 19, 2007, the traffic on the regulatory highway of greenhouse gas emissions for new vehicles was congested on the state, federal, and international level. Stephen Johnson, the U.S. EPA Administrator, announced his agency would not grant a waiver to California's regulation to ...
Proposal Would Make Business Ethics Rules Mandatory For Companies.
Jan 03, 2008; ... The federal government has recently proposed a rule that, if it becomes final, will impose additional compliance obligations on most companies doing business with the federal government. On November 14, 2007, the Civilian Agency Acquisition and Defense Acquisition Regulation ...
Alberta Securities Commission Declines To Cease-Trade Poison Pill Following Timely Shareholders Approval.
Jan 03, 2008 ... Article by Mark Adkins [c] 2007, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on Mergers & Acquisitions, December 2007 Highlights: Rights plan upheld in absence of potential competing offers Key factor was fully-informed ...
Technical Amendments To SIFT Rules.(Scale-invariant feature transform )
Jan 03, 2008 ... Article by Paul Tamaki and Jeffrey Trossman [c] 2008, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on Tax, January 2008 On December 20, 2007, the Canadian Government released legislative proposals to correct some (though not all) of the ...
What Is Your Potential Liability For Costs If You Admit A Claim Before Or On Filing An Acknowledgment Of Service?(Case overview)
Jan 04, 2008; ... The issue before Mr Justice Akenhead in the case of Amber Construction Services Limited v London Interspace HG Limited [2007] EWHC 3042 (TCC) related to whether only fixed costs should be payable if a defendant admitted or paid the sum claimed within a few days of the issue of a claim or ...
Recent DOL Actions Increase Obligations of Service Providers.
Jan 04, 2008 ... Contents: Developments of Note Recent DOL Actions Increase Obligations of Service Providers FINRA Issues Final Guidance Regarding the Review and Supervision of Electronic Communications Developments of Note Recent DOL Actions ...
District Court Dismisses Antitrust Class Action Alleging That Broker/Dealers Charged Inflated Fees In Connection With Short Sale Transactions.(Case overview)
Jan 04, 2008 ... On December 20, 2007, the United States District Court for the Southern District of New York dismissed federal antitrust claims asserted against 13 institutional broker/dealers, alleging that the financial institutions had acted in concert to inflate the fees charged to customers who ...
Strike Out: Abuse Of Process.(interpretation of law on litigations)
Jan 04, 2008; ... Article by Peter Mansfield and Giles Tagg The Court of Appeal has recently considered the issue of strike out for abuse of process. At first instance WSP and Aspinwall succeeded in striking out a claim by Aldi on the grounds that the claim should have been brought in previous ...
OFT Brings First Criminal Cartel Charges Against Individuals.(Office of Fair Trading)
Jan 04, 2008; ... On 19 December 2007 the Office of Fair Trading (OFT) announced that three UK businessmen have been charged with criminal cartel offences under the Enterprise Act 2002. This is the first time that such charges have been brought since the introduction of the criminal cartel offence in 2003 ....
Competition Commission Lifts SME Bank Price Controls.
Jan 04, 2008; ... On 21 December 2007 the Competition Commission confirmed its decision to lift temporary price controls imposed in 2003 on the UK's four largest banks that serve small and medium sized enterprises (Barclays, HSBC, Lloyds TSB and RBS). Behavioural undertakings imposed on those four and on ...
Professional Practices Survey 2007 - An Appetite For Capital.(Report)
Jan 04, 2008 ... Originally published in Professional Practices News, December 2007 Following the changes introduced in the Legal Services Act, Giles Murphy looks at what Smith & Williamson's most recent survey tells us about law firms' attitude towards external capital. The ...
GST Alert (Commercial Real Estate Alert).(goods and services tax)
Jan 04, 2008 ... INTRODUCTION On January 1, 2008, the federal goods and services tax (GST) rate will drop from 6% to 5%. As the deadline approaches for yet another 1% GST rate reduction, many buyers, sellers and lessors of property have questions about the timing and application of the new 5% ...
New Guidance On San Francisco Health Care Ordinance.
Jan 04, 2008; ... In 2006, San Francisco passed the Health Care Security Ordinance, which requires employers to provide health care coverage for employees working in San Francisco, or else pay a fee to the city. The Ordinance is scheduled to take effect on January 1, 2008 for most employers, but it may be ...
Recent FCC Actions Affecting Cable Television Systems, Programmers, And Broadcast Stations.
Jan 04, 2008 ... In this client advisory, Thelen reviews several recent FCC actions affecting cable television systems, cable programmers, and broadcast stations: Cable systems are required to provide subscribership information under the 70/70 rule to determine whether the FCC has authority to ...
Remediation And Relaunch: Putting An Outsourcing Deal Back On Track.(management of outsourcing contracts)
Jan 04, 2008; ... Article by Kenneth Adler and Danny Ertel In this whitepaper, Kenneth Adler, a partner at Thelen Reid Brown Raysman & Steiner and Chair of the Outsourcing group, along with Danny Ertel, a founding partner of Vantage Partners and the head of its Outsourcing practice, examine the ...
Lieberman-Warner Climate Security Act Clears Senate Committee Markup: Future Prospects Uncertain.
Jan 04, 2008 ... On December 5, the Senate Committee on Environment and Public Works (EPW) favorably reported the S.2191, The Lieberman-Warner Climate Security Act, by an 11-8 vote. Committee Chair, Barbara Boxer (D-CA), was joined by all of the other Democratic Members of the Committee - Senators Baucus ...
AML - A Compliance Update.(Anti-Money Laundering and Counter-Terrorism Financing Act 2006)(Law overview)
Jan 04, 2008; ... Key Point Now that the final parts of the AML Act are in operation, businesses must be sure they comply. The implementation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML Act), which applies to financial services, gambling services and ...
California Registry Announces New Emissions Trading Platform.
Jan 04, 2008 ... Offset trading platform will be built around strict baseline and certification requirements, in an effort to bring greater integrity to the emerging emissions markets. California is making significant progress in solidifying the emerging market for certified emissions offsets ....
Professional Practices Survey - Changing Times.
Jan 04, 2008 ... Originally published in Professional Practices News, December 2007 Tracing the trends and attitudes within the legal and property sectors, Simon Mabey analyses the results of our 13th annual survey of professional practices. This year, our survey explored changing ...
Tackling Unsolicited Electronic Messages In Hong Kong.
Jan 04, 2008 ... Introduction Hong Kong like many other open economies is vulnerable to the problems caused by unsolicited electronic messages ("UEMs"). It is estimated that over 60% of all emails received in Hong Kong are UEMs and over 99% of the UEMs come from outside Hong Kong. Recipients of ...
The First Shall Be Last: US Customs Proposal Would Broadly Increase Tariffs On US Imports.
Jan 04, 2008 ... Keywords: US Bureau of Customs, transaction value, series sale, first sale, last sale, tariffs, US tariff law, imports, US Imports, imported goods Originally published January 30, 2008 Article by Simeon Kriesberg , Sydney H. Mintzer and <a class="buttonbar" ...
Guernsey - Staying Ahead Of The Game.(finance companies)
Jan 07, 2008; ... Originally published on www.EUBankers.net, December 2007 This time last year I was looking back over the tremendous achievements of the Island's finance industry in 2006. Given those successes and the positive start to this year, it appeared that such growth might not be ...
Elimination Of Withholding Tax On Conventional Interest Payments To Arm's Length Non-Residents.(amendments to the Income Tax Act)
Jan 07, 2008; ... On December 14, 2007, amendments to the Income Tax Act (Canada) were enacted into law that will eliminate Canadian withholding tax on conventional interest payments made to arm's length non-residents of Canada beginning in the new year. In the March 2007 federal budget, the government ...
Could Your Electronic Records End Up Sinking Your Business?
Jan 07, 2008 ... Originally published December 27, 2007 Does your business have an official policy for the retention and destruction of your electronic information? If not, it should. No business wants to be involved in a lawsuit under most normal circumstances. However, the reality is that ...
The IP Year 2007 In Review: Focus On The UK.(Intellectual property)
Jan 07, 2008 ... Following our very successful The IP Year 2006 In Review,1 rated most popular Canadian article on the MONDAQ[R] website (www.mondaq.com) in February 2007, Fasken Martineau's Intellectual Property ("IP") Group is pleased to present The IP Year 2007 in Review focusing on IP developments in ...
District Courts Continue To Enforce Draconian Interpretation Of California's Paycheck Law.
Jan 07, 2008; ... s. 212-enacted in 1910 to curb the abuses of the 'company town'-forbids California employers from paying wages by "check . . . unless it is negotiable and payable in cash, on demand, without discount, at some established place of business in the state, the name and address of which must ...
Court Case Confirms 'Double Jeopardy' Rule Applies To Damages Payments.(Case overview)
Jan 07, 2008 ... A recent court case concerning a Midlands care worker and her employer, Wolverhampton City Council, has clarified a complex area of law regarding the payment of contractual benefits, such as sick pay, in cases of multiple claims. The ruling from the Court of Appeal is good news ...
Guernsey - A Private Equity Success Story.
Jan 07, 2008; ... Originally published in Investor Services Journal, December 2007. Since 2000 Guernsey has been growing its reputation as a leading private equity domicile. However, events of the past few weeks and months have really crystallised the fact that the Island is now the jurisdiction ...
Expert Witness 'Drought' To Hit Lenders In 2008.
Jan 07, 2008; ... Professional liability specialists at law firm Browne Jacobson are predicting a shortage of credible expert witnesses to defend against the raft of claims expected next year as the credit squeeze continues to affect financial and property markets in the UK. Nik Carle, partner at ...
U.S. Customs And Border Protection Issues Notice Of Proposed Rulemaking On 10+2 Importer Security Filing And Additional Carrier Requirements.
Jan 07, 2008; ... Article by Peter J. Battaglioli, David M. Dunbar, Eric R. Rock, David P. Sanders, Benjamin H. Shanbaum and Mark S. Zolno On January 2, 2008, U.S. Customs and Border Protection (CBP) issued a Notice of Proposed Rulemaking entitled "Importer Security Filing and Additional Carrier ...
New Rules Permit 2% Shareholder-Employee To Deduct Employer-Paid Accident And Health Premiums And Reimbursements.
Jan 07, 2008; ... While many employees are eligible to exclude contributions made by an employer for accident and health insurance premium payments or reimbursements from gross income, 2% percent shareholder-employees of S corporations are not considered employees for this purpose. Because of this ...
NLRB Rules That Employers May Implement A Corporate E-Mail Policy That Has The Effect Of Barring Union-Related Communications.(National Labor Relations Board)
Jan 07, 2008 ... In a highly anticipated decision, a sharply divided National Labor Relations Board ruled by a vote of 3-2 that employers may prohibit employee use of a company's e-mail system for nonwork solicitations, including union-related solicitations. At a time when the labor movement is ...
Employers Must Use Newly Amended I-9 Form To Verify Employment Eligibility.
Jan 07, 2008; ... A revised Employment Eligibility Verification Form (I-9) is now available for use by employers. The revised form contains an updated list of acceptable identity and employment authorization documents. Employers must use the revised version of Form I-9 for all new employees and for existing ...
Whither Foreign Investment in Canada? - The First Shoe Drops.
Jan 07, 2008; ... In our October 2007 Bulletin, we reported that the Honourable Jim Prentice, Minister of Industry, had announced in a speech to the Vancouver Board of Trade that he intended to deal with the issue of national security in the context of foreign investment in Canada and that he would also be ...
One To Watch: MacKinnon v. Ontario Municipal Employees Retirement Board.(Case overview)
Jan 07, 2008 ... The Ontario Court of Appeal has released its decision in MacKinnon v. Ontario Municipal Employees Retirement Board. While ultimately the decision means only that the issues are headed to trial, the Court of Appeal made some comments regarding the scope of duties of service providers to a ...
Climate Change Regulation Creeps Into Omnibus Spending Bill.(Environmental Protection Agency)
Jan 07, 2008; ... Originally published December 21, 2007 In an unexpected development, the U.S. Senate recently passed legislation with a requirement for the U.S. Environmental Protection Agency ("EPA") to create a greenhouse gas emissions registry for industries. This requirement was included in ...
DOL Proposes New ERISA Disclosure Requirements For Plan Service Providers.(Department of Labor)
Jan 07, 2008; ... Originally published December 13, 2007 On December 13, 2007, the Department of Labor proposed new disclosure and related requirements under ERISA for certain service providers to employee benefit plans. This is the second of three regulatory projects DOL has announced to deal ...
OTS Authorizes Federal Savings Bank To Establish A Subsidiary Bank In China January 2008.(Office of Thrift Supervision)(GE Money Bank)
Jan 07, 2008; ... On December 6, 2007, the Office of Thrift Supervision (OTS) approved the application of GE Money Bank, a federal savings bank headquartered in Salt Lake City, Utah, to establish an operating subsidiary in the People's Republic of China that will initially engage in corporate lending, small ...
Finland Cleared Of State Aid Investigation Regarding The Liberalisation Of Road Construction Market.(Borenius & Kemppinen)
Jan 07, 2008; ... Borenius & Kemppinen successfully represented the Finnish Ministry of Transport and Communications in the European Commission's formal state aid investigation regarding the liberalisation of the Finnish road construction market. The Commission gave its decision on 11 December ...
Cost-Effective Patent Actions.
Jan 07, 2008; ... Patent litigation has long had a reputation for being expensive. As Lord Esher said in Ungar v Sugg in 1892: "A man had better have his patent infringed, or have anything happen to him in this world, short of losing all his family, than have a dispute about a patent. His patent ...
"Opt-In" Or Lose Out!(Intellectual Property Office )
Jan 07, 2008; ... From 1 October 2007 the UK Intellectual Property Office (UKIPO)1 will no longer automatically refuse to register a new mark where it conflicts with an earlier mark already on the Trade Marks Register. Instead it will notify both the applicant so that they can decide whether to proceed and ...
Doing Business In Canada.
Jan 07, 2008 ... No decision to establish or invest in a business abroad should be made without a basic understanding of the legal framework in which the business will operate. The following broad overview of the Canadian legal environment will help the potential US investor become familiar with ...
Governor Schwarzenegger Takes The EPA To Court.
Jan 08, 2008 ... Governor Schwarzenegger has found a new predator invading his turf, and he has taken to the courts to defeat it. California, along with 15 other states and five environmental groups, recently petitioned the Ninth Circuit for review of the Environmental Protection Agency's ("EPA") denial of ...