Transparency International’s annual progress report shows that only a meagre 10% of the countries that signed the OECD Anti-Bribery Convention 16 years ago adhere to the standards. Just 4 out of 41 countries are actively enforcing the convention by investigating and prosecuting companies that bribe their way into business by providing payments to foreign officials. The enforcement rate in four countries has risen, but unfortunately Argentina slipped from limited enforcement in 2014 to little or no enforcement this year. José Ugaz,...

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On October 5, 2015 the Central Bank of Ireland (the “Central Bank”)issued a new set of regulations relating to Irish domiciled UCITS, their management companies and their depositaries titled Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2015(the "CBI UCITS Regulations”). The CBI UCITS Regulations will replace the UCITS Notices from November 1, 2015. The Central Bank UCITS Guidance Notes are also being replaced with website guidance which “will retain all of the guidance currently located in the Guidance Notes...

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GRANITO is pleased to announce its support of Project Atargatis, developed by its client the UK Company Terraenovum Ltd, with affiliation of over 170 companies related to the production of plant feed, fertilizer and biogas. GRANITO is the sole U.S./European consultant selected by Terraenovum in support of Project Atargatis, whose inauguration was celebrated in the magnificent scenario of Palazzo S. Giorgio, Trani, on October 4th with over 300 in attendance. GRANITO welcomes companies operating in the energy and biogas sector to grow globally...

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Ogletree, Deakins, Nash, Smoak & Stewart, P.C. (Ogletree Deakins), one of the largest labor and employment law firms representing management, is pleased to welcome Russ Buhite as a shareholder in the firm’s Tampa and Seattle offices. Buhite joins Ogletree Deakins from Marshall Dennehey Warner Coleman & Goggin, P.C., where he was managing partner of the firm’s Tampa office. Buhite, whose practice is a unique blend of ERISA litigation and employment law spanning more than 25 years, will be based initially...

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The filing period for new H-1B petitions to be counted against the annual H-1B quota (or H-1B cap) for Fiscal Year (FY) 2017 will begin on Friday, April 1, 2016. Cap-subject H-1B petitions will have an employment start date of October 1, 2016 or later. In preparation for the opening of the FY 2017 H-1B filing period, employers are strongly encouraged to begin identifying current and future employees who will need H-1B visa status to be legally employed in the United...

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In a landmark decision that will dramatically affect thousands of U.S. companies that transfer personal data from the European Union ("EU") to the United States, the European Union Court of Justice ("ECJ") yesterday invalidated the Safe Harbor Framework, which had permitted U.S. companies to comply with EU restrictions on the transfer of personal data outside the EU.    More than 4,000 companies, primarily U.S.-based multinationals, currently rely on the Framework, an agreement forged years ago between the U.S. Department of Commerce...

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On October 6, 2015, the European Court of Justice (ECJ) will issue its decision in the Schrems case which may invalidate the U.S. Safe Harbor Framework. The Safe Harbor Framework permits U.S. companies to transfer personal data regarding their E.U. employees and customers to the U.S. in compliance with E.U. data protection requirements. The case involves a legal challenge brought by Austrian national, Max Schrems, against Facebook regarding Facebook’s transfer of personal data from the E.U. to the U.S. under...

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The Department of State has announced the opening of the registration period for the 2017 Diversity Visa (DV) lottery. As in past years, the DV lottery will allow a maximum of 50,000 "diversity immigrants" to obtain permanent residence in the United States if they are from countries with low rates of immigration to the United States. Entries for the DV-2017 lottery must be submitted electronically between noon Eastern Daylight Time (EDT) on Thursday, October 1, 2015, and noon Eastern Standard...

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After a series of high-profile data breaches at both financial and non-financial companies, regulators are increasingly highlighting the need for funds’ ongoing efforts to prevent and respond to hacking events. Amid this added scrutiny, fund managers will be expected to stay informed of their responsibilities and ensure they are in compliance. The issue of cybersecurity has been in the headlines in 2015 following data breaches involving several nationwide retailers and retail banks. The investment sector has also been affected, including the...

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