Monthly Archives: July 2011

Department of Labor’s EBSA Provides Extension to Applicability Dates for Retirement Plan Fee Disclosures

On July 13, 2011, the U.S. Department of Labor’s Employee Benefits Security Administration issued a final regulation under ERISA to extend and align the applicability dates for retirement plan fee disclosure rules (i.e., the service provider fee and conflicts of interest disclosures to plan fiduciaries as well as the participant-level fee disclosures).  The service provider disclosures may now be provided no later than April 1, 2012 (an extension from January 1, 2012 as indicated in prior guidance).  There may also be additional guidance before the end of this year as to what those disclosures must include but the Department of Labor has indicated that any changes to last year’s interim final regulations pertaining to these disclosures should not require additional compliance time or another extension.  In addition, the new guidance provides that the initial participant-level fee disclosures can be provided after the effective date of the service provider disclosures (no later than May 31, 2012 for a calendar year plan).  This provides an extra month to comply with these rules.  Further, the initial quarterly statements can now be provided by August 14, 2012 (an extension of three months from the last issued guidance).  These extensions will hopefully afford plan sponsors and administrators the requisite additional time for compliance with and coordination of responsibilities with respect to these two requirements. 

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Employers in California Can Tone Down Their Celebrations about the U.S. Supreme Court Decisions In Wal-Mart and Concepcion

By Michael Kun

Understandably, employers have celebrated the U.S. Supreme Court decisions in Wal-Mart Stores, Inc. v. Dukes and AT&T Mobility v. Concepcion.  At the very least, those cases would seem to suggest that the wage-hour class actions and collective actions that have besieged employers might be curtailed significantly, along with the costly settlements triggered by the in terrorem effect of such lawsuits.

California employers can stop celebrating, or at least tone down those celebrations.

Unlike other states, California law provides for a mechanism by which employees can file suit on behalf of other employees without bringing such claims as class actions – the Private Attorneys General Act (“PAGA”).  PAGA, often referred to as “The Bounty Hunter Law,” generally allows an employee to file suit against an employer on behalf of all “aggrieved employees” for alleged violations of the California Labor Code.  The potential recovery in a PAGA claim can be staggering – while the limitations period is only one year, each “aggrieved employee” can recover up to $100 for the first pay period in which a violation occurs, and up to $200 for each subsequent pay period in which a violation occurs.  PAGA also provides for the recovery of costs and attorney’s fees.

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Employers in California Can Tone Down Their Celebrations about the U.S. Supreme Court Decisions In Wal-Mart and Concepcion

By Michael Kun

Understandably, employers have celebrated the U.S. Supreme Court decisions in Wal-Mart Stores, Inc. v. Dukes, 564 U.S. —,  — S.Ct. —, 180 L. Ed. 2d 374 (2011) and AT&T Mobility v. Concepcion, 563 U.S. —, 131 S.Ct. 1740, 179 L.Ed.2d 742 (2011).  At the very least, those cases would seem to suggest that the wage-hour class actions and collective actions that have besieged employers might be curtailed significantly, along with the costly settlements triggered by the in terrorem effect of such lawsuits.

California employers can stop celebrating, or at least tone down those celebrations.

Unlike other states, California law provides for a mechanism by which employees can file suit on behalf of other employees without bringing such claims as class actions – the Private Attorneys General Act (“PAGA”).  PAGA, often referred to as “The Bounty Hunter Law,” generally allows an employee to file suit against an employer on behalf of all “aggrieved employees” for alleged violations of the California Labor Code.  The potential recovery in a PAGA claim can be staggering – while the limitations period is only one year, each “aggrieved employee” can recover up to $100 for the first pay period in which a violation occurs, and up to $200 for each subsequent pay period in which a violation occurs.  PAGA also provides for the recovery of costs and attorney’s fees.

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ILN Today Post

Singhania & Co. Monthly Newsletter

In this issue we have highlighted the recent regulatory developments and exemptions. Most of these developments had been long-term demands of the Indian Corporate sector. A steady string of notifications and circulars under Companies Act, 1956 has considerably eased procedural issues.


Monthly News Letter – Latest legal Updates  July 2011

Indian Corporate Sector gets a much-needed Makeover

·         Exemption from managerial remuneration approval for unlisted companies

·         Exemption from submission of separate balance sheets for all subsidiaries

·         Registration of company in 24 hours

·         M&A regulations under the Competition Act notified

For the full newsletter, click here.

 

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ILN Today Post

Not for Profits Update – Gadens Lawyers

Charities and missions pursuing objectives overseas: at risk of losing your tax exemptions?

By Jon Cheung and Kimberley Vancuylenberg of Gadens Lawyers, Sydney

The Government has released draft legislation that will change the requirements for international charities and not-for profits to qualify for income tax exemptions in Australia. The changes refer to the special conditions found in Division 50 of the Income Tax Assessment Act 1997 that require charities and not for profits to operate principally in Australia.  read more

 

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ILN Today Post

Intellectual Property Update

Online Trade Mark Infringement: When can the use of a trade mark on a global website infringe a trade mark owner’s rights in a particular country? By Alexia Marinos of Gadens Lawyers, Sydney
The use of a trade mark on a global website (such as a .com domain) can amount to use of a trade mark in Australia if it can be shown that such use on the website is directed or targeted at Australia. If the website proprietor has not been authorised to use the trade mark on the global website, this can amount to an infringement of the trade mark in Australia.
read more

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Join Us For a Day at Cedar Point (Chicago)

Join Us For a Day at Cedar Point (Chicago) (One Cedar Point Drive, Sandusky, OH 44870)
Date: Saturday, July 16, 2011

Join Us For a Day at Cedar Point (Chicago)
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Ohio House Bill 286 follows Arizona’s lead as to employment of unauthorized aliens

On May 26, 2011, the United States Supreme Court upheld an Arizona statute regarding the employment of unauthorized aliens.  The Arizona law requires employers within the state to use the federal government’s E-Verify program to check the work authorization status of employees and imposes licensing sanctions against employers that “knowingly or intentionally” employ unauthorized aliens.  In upholding the Arizona law, the Court determined that states were free to act in this area under the terms of the federal Immigration Reform and Control Act (IRCA).

On June 29, 2011, in the wake of the Supreme Court’s decision, House Bill 286 was introduced in the Ohio House of Representatives.  The bill, which was sponsored by 14 lawmakers, seeks to amend Ohio law to include provisions similar to those included in the Arizona statute.

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ILN Today Post

Competition and Consumer Law Update

Misleading Carbon Price Claims

By Merridy Woodroffe of Gadens Lawyers, Sydney

The Federal Government’s decision to implement a carbon pricing regime comes with a warning attached: businesses seeking to “gouge” customers when passing on the cost by making misleading claims will be investigated and prosecuted by the Australian Competition and Consumer Commission (ACCC).  read more

 

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Ask Friday! The Building Relationships Edition

This week’s Ask Friday! is a special one because it’s my first video blog post! I hope there will be many more to come…

This week’s question comes from Barry Camson, who wanted to know five tips for building relationships. So without further ado….

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