Legal Updates

SEC PERMITS CERTAIN USES OF SOCIAL MEDIA BY INVESTMENT ADVISERS AND REPRESENTATIVES

The Division of Investment Management of the Securities and Exchange Commission (SEC) has issued guidance for registered investment advisers and their representatives on using testimonials from independent third-party social media sites. The limited amount of social media guidance for “regulated” industries from their various regulators has made the broad use of social media challenging. More…

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REGULATORS FOCUSING ON CREDIT REPORT DISPUTE PROCEDURES

A recent Consumer Financial Protection Bureau (CFPB)report indicated that credit reporting errors are a leading consumer complaint. Not surprisingly, these complaints have lead to an increased focus from the regulators – especially related to the obligation of furnishers to properly investigate disputed information in consumer reports. This increased focus should prompt all furnishers of credit report information, including credit unions, to review and revise their dispute procedures. More…

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Playing with Employees’ Hours Could Get You in Hot Water under the ACA and FLSA

By:  Kara Maciel, Adam Solander and Lindsay Smith

As the Employer Mandate compliance deadline looms for employers under the Affordable Care Act (“ACA”) and employers are closely monitoring employee hours, it is critical that employers take appropriate and lawful steps to record all hours worked by an employee.  If employers try to play games and manipulate how time records are maintained, they could find themselves in hot water under both the ACA and the Fair Labor Standards Act (“FLSA”). 

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Time running out to object to new land valuations

Time is running out for landowners to review their new land valuations, with less than a month before the end of the objection period on 12 May 2014.

New land valuations

Approximately one million new valuations have been issued to landowners in 41 local governments across Queensland. More…

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No free lunch for inbound property investors

The Full Federal Court has, this month, invalidated one of the most intriguing inbound tax structures which seemingly offered the “holy grail” of tax free profits to foreign investors in Australian property.

The Court in Commissioner of Taxation v Resource Capital Fund 3LP (2014) FCAFC 37 has delivered a unanimous judgment which is relevant to foreign investment in the Australian property, natural  resource and infrastructure sectors.  The dispute initially burst into public prominence when the Australian Taxation Office obtained urgent freezing orders against RCF, a private equity fund, in 2010. More…

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Dette må du vite hvis du blir utsatt for ykesskade

Dersom du rammes av yrkesskade som fører til medisinsk invaliditet utover 15 % og som reduserer arbeidsevnen og mulighetene, har du krav på en rekke rettigheter både fra forsikringsselskap og fra NAV.

En av disse rettighetene er ménerstatning etter folketrygdloven.  Her har loven lagt opp til to ulike beregningsmåter som den yrkesskadete selv kan velge mellom:  More…

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Liberalization of Electricity Market in Ukraine: Top 10 Things to Remember

An article by Tetyana Kistynyuk summarising ten important issues regarding the energy market in Ukraine in the forthcoming years (there will be a shift from a centralized electricity trading module to a more competitive electricity trading regime). These issues will affect each and every business in Ukraine, especially power generating companies, electricity suppliers (including importers and exporters) and electricity consumers. More…

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Changed gender reporting obligations

A recent move by the Federal Government has seen changes to reporting obligations arising under the Workplace Gender Equality Act 2012 (Cth) (Act), including the delay of new reporting obligations that were scheduled to start on 1 April 2014.  The Government has also introduced the first minimum standard under the Act, with which reporting organisations will need to comply.  More…

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Online Retailing – Who owns what when the music stop

Unlike traditional retailing, online retailers may warehouse a significant amount of stock that has been paid for though not shipped.  This is particularly the case when the customer purchases a range of products meaning that the order cannot be promptly shipped, for instance because the retailer does not have in stock all of the products.  Delivery can be delayed for a number of days if not weeks whilst the entire order is filled.

This creates the following difficulties for administrators appointed to online retailers.  These difficulties were last month addressed by Justice Black of the NSW Supreme Court[1], following an application by the administrators for judicial directions.  More…

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New Hungarian Civil Code – Top Ten Survival Tips

An Article by Ádám Illés seeks to summarize the ten most important matters that have the largest influence on businesses.
1. Compliance of statutes and by-laws of companies with the new law; higher minimum equity capital for limited liability companies
2. Liability of executive officers for damages caused to third persons
3. Less mandatory approach, more latitude in company law
4. Offer of Contract
5. Conflict of general terms and conditions
6. Extended warranty rights for customers
7. Damages may not be claimed on grounds of failing to conclude a contract
8. Premature delivery must be accepted
9. New concept in contractual liability
10. New contract types

More…

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