Legal Updates

Starting from 1 July 2020 an experiment will be conducted in Moscow aimed at setting a legal framework for the development and implementation of AI technologies

Federal law No 123-FZsets a legal framework in Moscow for the development and implementation of artificial intelligence (AI) technologies. The experimental legal framework is established for five years starting from 1 July 2020.

The law sets out goals, objectives, and main principles of establishing the experimental legal framework and regulates relations arising therein. The main objective of the experiment – examine how the AI technologies work, which sectors of the economy and social relations require its` implementation. After the experiment, decision on further amendments to the legislation will be made.

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JV Compliance Issues during the Transition Period under the new FIL

On 1 January 2020, the Foreign Investment Law of the People’s Republic of China (“FIL“) came into force, at the same time, the four-decades old Sino-foreign Equity Joint Venture Law of the People’s Republic of China (“EJV Law“) and the three-decades-plus old Sino-foreign Co-operative Joint Venture Law of the People’ Republic of China (“CJV Law“) and their relevant regulations were simultaneously repealed. Read more…

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WFOE Compliance Issues during the Transition Period under the new FIL

On 1 January 2020, the Foreign Investment Law of the People’s Republic of China (“FIL“) came into force, and at the same time, the three-decades-old-plus Wholly Foreign-owned Enterprises Law of the People’s Republic of China (“WFOE Law” and its relevant regulations were simultaneously repealed. Read more…

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Law Firm ILN-telligence Podcast: Episode 2: Michael Slan | Fogler Rubinoff LLP

Michael Slan is the managing partner of Fogler Rubinoff LLP in Toronto, Canada, and a member of the International Lawyers Network. In this episode, Lindsay has a candid conversation with Michael about the importance of communication in this time of pandemic, why deep cuts may not be the best cuts, and what leadership looks like in the face of market downturns and global lockdowns.  Listen here.

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New York State Again Revises Paid Election Leave Law

As we previously reported, last year, New York State expanded its election leave law to allow employees more paid time off if needed in order to vote on Election Day (increasing the paid time off from two to three hours). However, in the State’s 2020-21 budget, signed by Governor Andrew M. Cuomo on April 3, 2020, new amendments to New York’s Election Leave Law (Election Law § 3-110) (the “Law”) undo the changes implemented by last year’s legislation and essentially reinstates the prior time-off rules, which provide that if an employee is a registered voter without “sufficient time” outside of scheduled working hours to vote in an election, the employee may take up to two hours of paid time off from work. The Law went into effect immediately.

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Safeguarding against Opportunistic Acquisitions – Restriction on FDI from China

In a significant change to the Foreign Direct Investment Policy 2017 (“FDI Policy”), the Department for Promotion of Industry and Internal Trade has issued Press Note No. 3 (2020 Series) dated April 17, 2020 (“Press Note 3”), wherein it has imposed certain restrictions for receiving FDI from neighbouring countries. According to the Press Note 3, any entity of a country which shares its land borders with India (i.e. China, Nepal, Bhutan, Bangladesh, Myanmar, Pakistan and Afghanistan) (“Specified Country”) or where the beneficial owner of any investment in India is based in such country or is citizen of such a country, will now require prior approval from the Government for its direct investment in India. Additionally, any transfer of ownership (whether existing or future) of an entity in India resulting in the beneficial ownership being situated in a Specified Country will also require prior Government approval. Changes proposed vide Press Note 3 will have statutory effect upon amendment of the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (“NDI Rules”).

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SEC and FINRA Provide Guidance on Regulation Best Interest

Recently, the U.S. Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert to provide broker-dealers with guidance on examinations regarding regulation Best Interest (“Reg BI”).  Reg BI requires that when broker-dealers make a recommendation regarding securities to a retail customer it must act in the best interest of the customer, without placing its own financial or other interest ahead of the retail customer’s interest.  The Financial Industry Regulatory Authority (“FINRA”) also stated that it would take the same approach in its examinations of broker-dealers and their associated persons for compliance with Reg BI.

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Global Lockdown: International Jurisdictions Extend COVID-19 Stay-Home Orders

As we previously reported, the COVID-19 pandemic has altered the global workplace and international employer-employee relations in profound ways. As COVID-19 continues to spread, countries have enacted nationwide orders, requiring billions of people to stay at home. Recently, in an effort to continue to slow the spread of COVID-19, several countries have extended national stay-home orders. The ordered restrictions vary according to jurisdiction specific reasons.

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Legalization of E-Meetings

The Emergency Decree B.E. 2563 (A.D. 2020) on E-Meetings which came into force on April 19, 2020, replaces the former National Council for Peace and Order No. 74/2557 (A.D. 2014) (“NCPO”) and legalizes the prior e-meetings under the said former NPKO order, and the new ones of both the public and private sectors, excluding those of the parliament, the courts of justice and the government’s procurement offices.

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Time Is Money: A Quick Wage-Hour Tip on … the De Minimis Principle

Generally, the Fair Labor Standards Act (“FLSA”) requires employers to compensate their non-exempt employees for all time that they are required or allowed to perform work, regardless of where and when the work is done.  However, an exception exists for small amounts of time that are otherwise compensable work time but challenging to record, otherwise known as the de minimis doctrine.  Of course, the million-dollar question is how much time is considered de minimis.  Unfortunately, there is no bright-line rule and the answer may differ under federal law and California law, or other states.

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