Bermuda is potentially set for a significant shift in its corporate income tax landscape, as the jurisdiction contemplates the adoption of a novel corporate income tax structure by January 1, 2025 or later. This change is spurred by the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Pillar II global…
In a significant change to labor law, The National Labor Relations Board (NLRB) issued companion decisions last month that have greatly narrowed an employer’s ability to alter the working conditions of unionized employees without engaging in bargaining with the union. This is a significant development for corporations and law firms grappling with labor issues. These…
A prominent gastroenterologist at a well-known New York City hospital has become the subject of multiple allegations of sexual misconduct, following candid revelations from patients. With both reputational and legal ramifications at stake, the unfolding situation underscores the pressing need for rigorous commitment to patient safety and ethical conduct in the medical profession. According to…
Businesses across the globe continue to tackle the complex issue of environmental, social and governance (ESG) factors. Distilling this down, the ‘S’, representing the social aspect of these considerations, has been attracting significant attention, particularly from the perspective of Human Resources (HR). On September 21st, an insightful webinar titled ‘How to tackle the ‘S’ in…
Amid growing scrutiny over proxy voting, especially concerning Environment, Social and Governance (ESG)-related resolutions, the Financial Conduct Authority (FCA), UK’s financial regulator, has initiated a consultation aimed at creating a standardised vote-reporting template for asset managers. The move, according to a June 2023 consultation and discussion paper by the FCA’s Vote Reporting Group, is envisioned…
Market volatility and plunging stock prices often push companies to contemplate the route of delisting and deregistering their shares, a process colloquially referred to as ‘going dark’. As the performance of recently public firms weakens, and favorable financing options remain scarce, a trend is emerging where more companies are struggling to meet stock exchange minimum…
It’s evident that growth remains a key focus for global law firms, a fact that is underscored by the ongoing trend of mergers, new branch launches, and structural changes aimed at offering competitive services in a global marketplace. As reported by Law.com, the aspiration seems to align more closely with a ‘too big to fail’…
The law firm CMS has commenced a redundancy process impacting corporate associate roles at their United Kingdom offices. As reported, the firm is considering the reduction of up to 19 roles due to a challenging economic backdrop. More detailed information can be found on law.com, although bear in mind that the full story might not…
The European Parliament gave the green light to the Network and Information Security 2 Directive (“NIS 2”) in 2020, broadening the reach of the Network and Information Security Directive (“NIS”). The NIS 2 Directive has added more sectors to its scope, increased security and reporting requirements, and imposed more stringent fines in case of non-compliance….
With the resilience and intelligence that come with being legal professionals, it is not uncommon for attorneys to contemplate drastic shifts in their career paths. From changing practice areas to transitioning between transactions and litigation, the desire for radical reinvention is common, especially amongst those who find themselves perpetually dissatisfied with their jobs as reported…
In a notable development, the New York State Unified Court System announced that its Managing Inspector General for Bias Matters is now taking on the role of the System’s new Inspector General. The announcement, made on Tuesday, marks a significant personnel change within one of the largest and most influential court systems in the United…
In the delicate and highly-detailed domain of mergers and acquisitions (M&A), insurance is a factor that often goes overlooked. However, disregard for this critical area can lead to unplanned financial exposure, thereby threatening the acquiring party’s economic stability. The form of the M&A transaction, the specifics of the policy, and the applicable state law all…
Labor Day in the United States, unlike other federal holidays, carries a historical significance deeply rooted in the nation’s labor history. Its origins trace back to 1894, when President Grover Cleveland signed into law a bill to recognize the contributions of American workers. The passage of this law culminated in the institutional celebration of Labor…
It has been previously reported this year that the Canadian Patent Office is set to scale up its official fees by as much as 36%, with changes taking effect from January 1, 2024. This impending increase has naturally led to patentees and applicants exploring cost-saving measures, with one open option being paying for impending Patent…
In July 2023, Ontario’s Ministry of Energy released a roadmap outlining its strategy for acquiring and maintaining the electric resources necessary to meet the province’s growing electricity demand. The comprehensive 84-page document, titled “Powering Growth: Ontario’s Plan for a Clean Energy Future,” (“the Plan”), outlines the region’s strategy for implementing production, storage, and transport infrastructures…
In 2019, California initiated a legislative maneuver with a potential far-reaching impact for both employers and employees. The state passed a law that called for the creation of the Long Term Care Insurance Task Force (“Task Force”). It tasked the group with a comprehensive examination of the design and implementation methodology of a long-term care…
Biglaw Chair, Paul Schmidt, has put forth a novel recommendation for law firm partners in an effort to enhance communication with associates – adopt texting and chat mechanisms. Schmidt believes immersing into such platforms, preferred by the younger generation of lawyers, would not only improve interactions but also address some of the distinct generational challenges…
On August 29, 2023, a joint proposal was made by The Federal Reserve Board, The Federal Deposit Insurance Corporation and The Office of the Comptroller of the Currency – a move that did not go unnoticed by the financial legal community. According to this proposal, all banks with total assets amounting to $100 billion or…
With several high-profile law firm mergers on the horizon, legal professionals face a critical decision: to stay or to move on. In 2023, widespread consolidation was observed as numerous Am Law 100 firms – many keen on enhancing their competitive edge and geographic reach – absorbed smaller firms aspiring for scale. Among these, were over…
It’s seldom that we get to watch a corporate disaster in real-time, but Better.com certainly had us on the edge of our seats recently with what can only be described as one of the most dismal Nasdaq debuts ever seen. For those unfamiliar with Better.com’s recent plight, let me provide a brief snapshot. The mortgage…
In a latest episode of the podcast Illumination Zone, Tom Kemp, renowned author, technologist, policy advisor, and investor, joined hosts Kaylee and Mary for an insightful discussion. This episode, titled Illumination Zone: Episode 138, saw Kemp discuss various aspects of big data, artificial intelligence, the role of big tech, privacy issues, and the increasing influence…
In a significant turn of events for the legal industry, Daugherty Lordan, the firm that originated as a spinoff from leading law firm Lewis Brisbois Bisgaard & Smith, recently announced its decision to wind down operations. The implications of this development extend far beyond the closure of the firm itself, proffering valuable lessons for the…
In recent developments, the Centers for Medicare and Medicaid Services (CMS) have moved to augment hospital price transparency stipulations and bolster enforcement practices. This initiative comes on the heels of CMS issuing its second highest civil monetary penalty for infringement of the hospital price transparency rule. On July 26, 2023, a mere two days subsequent…
Template documents often hold an allure for businesses under far-reaching pressure to sign contracts swiftly. This popular solution can notably increase convenience, but veils a vital requirement. When dealing with liability provisions, careful contemplation is vital for understanding the actual intentions of the parties involved and assessing potential amendments needed for such template provisions. The…
In a reversal of long-held legal precedent, a Federal Appeals Court has overturned a stringent rule followed by courts in the Fifth Circuit, affecting the viability for employees to sue under Title VII for workplace discrimination. The full details of this remarkable shift can be explored in detail here. For years, employees intending to bring…