On 28 June 2024, the State Bank of Vietnam (SBV) officially adopted Circular No. 23/2024/TT-NHNN (“Circular No. 23”) amending and supplementing several articles of Circular No. 10/2016/TT-NHNN dated 29 June 2016 regulating offshore indirect investment (“Circular No. 10”). Circular No. 23 will take effect from 12 August 2024. Notably, Circular No. 23 presents various points affecting the current implementation of offshore stock award plans for Vietnamese employees in Vietnam and embraces most of the SBV existing requirements in practice.
In an article published in Compliance & Risk Journal, John Bracken and Lorren Martin explore the issue of non-financial misconduct in UK financial services firms, and how best to manage the potential risks.
On 12 July 2024, the Tribunal for Anti-Sexual Harassment (“Tribunal”) established under the Anti-Sexual Harassment Act 2022 (“Act”), issued its first award in a sexual harassment case involving a male employer and a female employee. This development is a timely reminder that sexual harassment cases occurring within the workplace can still be heard by the Tribunal under the Act, and that employers owe legal duties to its employees in managing workplace sexual harassment.
A federal judge in the Northern District of Texas has granted a preliminary injunction that partially enjoins the Federal Trade Commission’s (FTC) final rule on noncompete covenants. In sum, the judge found that “the Commission has exceeded its statutory authority in promulgating the noncompete rule” and noted that the “role of an administrative agency is to do as told by Congress, not to do what the agency thinks it should do”. Most notably, the court determined that the plaintiffs are likely to succeed on the merits of their challenge to the rule because the FTC lacks substantive rulemaking authority.
In today’s working world, transparency is not a box to tick but a new and very real workforce reality. Evolving reporting requirements, intensifying stakeholder pressure (both internally and externally) and increasing recognition of what it means to be a responsible business are shaping how organizations disclose information about – and subsequently respond to – their workforce priorities.
On 7 June 2024, the Official Gazette of the Federation published changes to Social Security Law. The new digital “IMSS Mailbox” is mandatory for employers and will be the exclusive means for communicating with the Institute. The IMSS will issue general rules for the operation of the IMSS Mailbox within 60 days. Failing to register may mean forfeiting the opportunity to challenge adverse resolutions.
The summer holiday season has begun. While many employees are looking forward to a well-deserved break, companies often ask themselves how best to manage staff capacity during the holiday period. In Austria, there are relatively strict holiday rules for both employers and employees.
In an article published in HR magazine, David Woodward gives advice on what businesses should consider when conducting a workplace investigation.
Defining, identifying and addressing inappropriate workplace behavior is increasingly a business-critical issue. Although local differences apply, many jurisdictions have similar legal requirements for protection of employees. This article explores the current legal framework, as well as the risks and litigation landscape, in the United Kingdom, Spain, the Netherlands, South Africa and the United Arab Emirates.
In the face of intensifying geopolitical risk and continuing economic uncertainty, the challenges for global employers to plan carefully and operate strategically to maintain a thriving workforce are greater than ever. We help employers navigate those challenges in our four-part webinar series featuring Baker McKenzie Global Employment Law colleagues from the Americas, Asia Pacific, Europe, and the Middle East and Africa who share legal updates and trends impacting US-based multinationals, and provide tips and best practices for your success.