Legal Disclaimer
You are responsible for reading, understanding and agreeing to the National Law Review s (NLR’s) and the National Law Forum LLC s Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.
Monday, March 1, 2021
As many global financial services organisations know, the Australian Securities and Investments Commission (ASIC) during 2020 finalised its Regulatory Guidance for Foreign Financial Services Providers (FFSPs) to transition to the new Australian licensing regime which will commence on 31 March 2022. The new licensing regime is being introduced to replace the Class Order exemptions from licensing that ASIC granted in the last 15 years to many FFSPs allowing the provision of investment management services to wholesale and institutional Australian investors.
FFSPs will have three fundamental regulatory options available to them if they want to continue to provide financial services to Australian wholesale and institutional investors after March 2022:
Monday, March 1, 2021
Closures of schools and day care centers during the COVID-19 pandemic have put heightened focus on the child care challenges faced by working parents. The California legislature is aiming to address these challenges by introducing a bill that, if passed, would require employers to provide subsidized backup child care benefits to employees. While this may help working parents, it also would place additional burdens on employers, many of whom are already over-taxed by the increased costs and depressed revenues caused by the pandemic.
By one estimate, parents with minor children make up one-third of American workers, and hundreds of thousands of them have exited the workforce due to school closures or the loss of some form of child care. This is so despite the unprecedented availability in 2020 of extended family leave benefits under the Families First Coronavirus Relief Act (“FFCRA”) and California state and local laws for precisely this purpos
Monday, March 1, 2021
In the final part of our predictions for 2021 for the UK insolvency market we look at pensions, the National Security and Investment Bill and cross border matters.
The first and second part of this series of blogs is available here (part 1) and here (part 2).
Pension Schemes Act 2021 – caution for insolvency professionals
The Pensions Schemes Act made it into the legislative books recently having been on the watch list for some time. Why is this of concern to those involved in restructuring? Because it carries (or will do) criminal liability and civil fines of up to £1million. Our previous blog explains how the legislation captures not just culpable directors but those typically involved in a restructuring including IPs, advisors and distressed lenders.
Legal Disclaimer
You are responsible for reading, understanding and agreeing to the National Law Review s (NLR’s) and the National Law Forum LLC s Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.