ILN Today Post
October 4, 2017
On September 19, 2017, the Central Bank of Brazil published Public Notice No. 57/2017, announcing a resolution on the implementation by financial institutions of cybersecurity policy and the requirements for contracting services data processing and storage, and cloud computing.
The proposal provides for the minimum content of the cyber security policy and establishes requirements for contracting data processing and storage services and cloud computing, including minimum contractual requirements. In addition, requirements regarding the handling of incidents related to the cyber environment are established. Institutions should also develop actions to share information about these incidents.
ILN Today Post
January 6, 2017
On May 5th, 2017, the Argentina Ministry of Economy issued a resolution repealing a foreign exchange requirement regarding loans between Argentine residents and foreign residents. Loans made by foreign residents to Argentine residents could only be repaid after a 120-day period had elapsed since the conversion into pesos of the proceeds of the loan. This 120-day waiting period has been repealed today, meaning that amortization schedules of loans can be agreed upon between the parties freely.
December 1, 2011
By: Evan Rosen
Yesterday, the National Labor Relations Board (the “Board”) voted, 2-1, to approve its Resolution to drastically amend the rules governing union elections. While the Board’s stated reason for the amendment is to reduce unnecessary litigation, it is apparent that this purpose is a sham, and that the real reason is to make it significantly easier for unions to organize employees, especially those in the highly targeted hospitality industry.
The Board did not vote on the entire proposal detailed in their June 22, 2011Notice of Proposed Rulemaking, but rather on a narrower version focused on representational hearings, appeals, and evidentiary issues. Importantly, however, the Resolution eliminates language restricting a Regional Director from scheduling an election until at least 25 days after the direction of an election. Finally, the other proposed amendments to shorten election times, which are identified in the June 22, 2011 Notice of Proposed Rulemaking, are not off the table; rather, the Board will continue to deliberate on them. The Board will now draft a final rule based on the Resolution and will vote again for the final rule to be issued.