Monthly Archives: February 2018

Proposed amendments to small business CGT concessions – throwing out the minnows to catch the whale – too much “collateral damage”

As part of its 2017-18 Budget on 9 May 2017, the Government announced proposed amendments to the tax law which would limit the application of the small business CGT concessions (SBCGT Concessions).

 

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The Supreme Court Holds That Federal Courts Must Interpret Collective Bargaining Agreements in Accordance with “Ordinary Contract Principles;” Rejects So-Called “Yard-Man” Inferences

Resolving a split between circuits, this week the United States Supreme Court, in CNH Industrial v. Reese rejected what has come to be known as the Yard-Man standard, and reaffirmed that collective bargaining agreements must be interpreted according ordinary contract principles.  

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Notice to Financial Advisers: State Regulators Are Enforcing the DOL Fiduciary Rule

Financial institutions and advisers that manage retirement plan assets and are subject to the regulations of the Department of Labor (“DOL”) under the Employee Retirement Income Security Act of 1974, as amended, (“ERISA”) regarding fiduciary duties (the “Fiduciary Rule”) may also be subject to state law violations for failure to comply with the Fiduciary Rule. The Enforcement Section of the Massachusetts Division of the Office of the Secretary of the Commonwealth (the “Massachusetts Enforcement Section”) filed an administrative complaint (the “Complaint”) on February 15, 2018 against Scottrade, Inc. (“Scottrade”) claiming violations of a Massachusetts statute due to alleged violations of the Fiduciary Rule.  Given the relief requested in the Complaint and the potential precedent for other states, this action has the potential to be significant, not only for Scottrade, but for other advisers and financial institutions.

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U.S. Supreme Court Settles Circuit Split: Dodd-Frank’s Anti-Whistleblower Retaliation Protections Do Not Extend To Employees Who Do Not Report To The SEC

On February 21, 2018, the U.S. Supreme Court resolved a circuit split and ruled in Digital Realty Trust, Inc. v. Somers that Dodd-Frank’s anti-whistleblower retaliation provision (15 U.S.C. § 78u–6(h)) does not protect employees who report alleged securities violations only to their employers, and not to the SEC.

 

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ILN Today Post

Maryland Is Nation’s Ninth State to Impose Mandatory Sick Leave

In a hotly contested political debate, including a veto by Maryland Governor Larry Hogan and its override by the Senate, Maryland has become the ninth state to require private employers to provide sick leave. Under the Healthy Working Families Act (HWFA), Maryland employers are required to provide “sick and safe leave” to employees. The new law took effect on February 11, 2018. Accordingly, employers with Maryland employees should take immediate action to comply.

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Medicare Secondary Payer Compliance: Group Health Plans (Part III)

In our previous posts, we mentioned that the Medicare Secondary Payer (MSP) law imposes obligations upon Group Health Plans (GHPs).   This post will explain those obligations, both provided for in the regulations and in the CMS guidance, in more detail, and highlight the potential compliance pitfalls for GHPs. Given recent enforcement trends, and the risk of raising damages for non-compliance from double to treble, including a minimum fine of $1000 per day per unreported beneficiary, GHPs may want to review and audit their compliance with MSP requirements.

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ILN Today Post

Stradling Ranks Amongst Most Active Law Firms in Venture Capital Transactions in 2017

Stradling is pleased to announce that it has been recognized as a “Most Active Law Firm” in the US for venture capital transactions in the areas of software, early-stage companies and later-stage companies by PitchBook in its 2017 Global League Tables annual report.
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Federal Judge Rules GrubHub Driver Is Independent Contractor – Employment Law This Week Continue Reading…

Featured on Employment Law This Week:  A California federal judge has ruled that a former GrubHub delivery driver was an independent contractor, not an employee.

The judge found that the company did not have the required control over its drivers for the plaintiff to establish that he is an employee. This decision comes as companies like Uber and Lyft are also facing lawsuits that accuse them of misclassifying employees as independent contractors. Carlos Becerra, from Epstein Becker Green, has more.

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ILN Today Post

Lessons from Carillion: directors’ duties and practical tips

With the Commons Select Committee inquiry into Carillion in full swing, the press reports feature sensational allegations at the directors and former directors. The FCA is looking into the market announcements that were made pre-liquidation, one shareholder is calling for an investigation into management and the Chair of the Work and Pensions Committee has described a situation where investors were “fleeing for the hills”.

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ILN-terviews: Kriton Metaxopoulos, A. & K. Metaxopoulos and Partners Law Firm

Welcome to ILN-terviews, a series of profiles of ILN member firm attorneys, designed to give a unique insight into the lawyers who make up our Network. For our latest interview, we chose ILN member, Kriton Metaxopoulos of our member firm A. & K. Metaxopoulos and Partners in Athens, Greece.

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