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Department of Labor’s new fiduciary conflict of interest proposal remains controversial

Pensions-(ThinkStock)

Last Tuesday, the US Department of Labor (DOL) released its 120-page notice of proposed rulemaking to revamp the Employee Retirement Income Security Act’s (ERISA) fiduciary conflict of interest rules, along with 246 pages of proposed prohibited transaction exemptions and amendments to existing exemptions. Even before their issuance, the proposed rules drew harsh criticism from the investment community, which recognized that the proposed rules would turn many financial professionals into ERISA fiduciaries and change how they could be compensated and the way they do business.

Given the vocal opposition to the new rules, the ultimate scope and fate of their specific provisions is yet to be determined. But the ongoing debate over how investment advisers should operate in the face of potential conflicts of interest is unlikely to leave the current status quo in place. At stake is not just what standards will apply to the investment advisory community, but who within the federal government will establish those standards.

Dentons’ Pensions, Benefits and Executive Compensation team explores the proposed rules.

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Department of Labor’s new fiduciary conflict of interest proposal remains controversial

New year, new employment issues

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The mission of Dentons’ Global Employment Lawyer is to keep you informed of significant trends and developments in the area of global employment and labor law, wherever they take place, so that you are in a better position to make educated business decisions. Thank you for helping to make the first edition of the Global Employment Lawyer a huge success!

In this second edition of the Dentons’ Global Employment Lawyer, our lawyers examine:

  • Options for dealing with employee layoffs in China for foreign investors
  • Canada’s recent decision to require employee accommodation for childcare responsibilities
  • Restrictions under Polish law which can affect employment settlements
  • Romania’s recent decisions effecting union standing and disciplinary actions against employees
  • Specific ambiguities in Egyptian labor law on financial entitlements, employment terminations and collective dispute resolution mechanisms
  • UK’s recent employment decision potentially increasing the amount of holiday pay owed to certain overtime workers
  • Current and pending changes to US employment regulations for 2015, including laws affecting paid sick leave, anti discrimination and bullying, social media, severance and more
  • US IRS regulation Section 457A’s effect on deferred compensation for US taxpayers who work for non-US entities
  • Recap of Dentons’ client seminar on critical employment issues for multinationals

Read the complete issue

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New year, new employment issues

Critical employment issues facing multi-national employers

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December 10, 2014 04:00 PM – 07:00 PM EDT    

McGraw-Hill Conference Space    

1221 Avenue of the Americas 50th Floor

New York, NY United States

Dentons Global Employment and Labor group is pleased to invite you to an interactive program bringing together Dentons lawyers from around the globe to present on several critical employment issues facing multi-national employers. The three-panel program will be followed by networking cocktails where you will have an opportunity to mingle and connect with professionals in the industry.

Panel topics and speakers:

Moderated by Brian Cousin

Privacy Panel (4:30 p.m.–5:30 p.m.): Andy Roth (US), Barbara Johnston (Canada), Michael Bronstein (UK), Katell Deniel-Allioux (France), Todd Liao (China by video), Neil Capobianco (US)

Global Mobility Panel (5:30 p.m.–6:00 p.m.): Matt Schulz (US), Michael Bronstein (UK), Todd Liao (China by video)

Restrictive Covenants Panel (6:00 p.m.–7:00 p.m.): Richard Scharlat (US), Adrian Miedema (Canada), Michael Bronstein (UK), Katell Deniel-Allioux (France), Todd Liao (China by video)

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Critical employment issues facing multi-national employers

Employment updates from around the globe

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We are proud to offer you the initial issue of Dentons’ Global Employment Lawyer.

Whether you are an employer, human resources executive, in-house or outside counsel, mobility professional, or anyone interested in employment and labor issues around the globe, our goal is to keep you informed of trends and developments in the area of global employment law.

In this issue, our lawyers examine:

  • The task of crafting a non-compete clause under English law which is not unreasonably broad in scope, so as to be enforceable in court,  without risking unwanted commercial consequences for employers;
  • Likely changes to fixed-term employment contracts in Poland in the wake of a recent European Court of Justice determination finding them inconsistent with EU law, and some updates on key global developments in the region;
  • Recent legislation in the UAE requiring all employers in Dubai to provide employees with compulsory health care insurance;
  • Hidden US tax issues arising from new IRS regulations that consider severance payments made after signing a release potentially to be “deferred” compensation;
  • and many more topics.

Read the complete issue.

 

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Employment updates from around the globe