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Member News
Member News
27
Oct
In today’s digital age — where hackers can override a system from the other side of the globe — organisations have to be warier than ever. Unfortunately, it’s no longer enough to remain vigilant of the outside world. Some of the most damaging threats originate from within.
In the midst of COVID-19, there’s been an uptick in insider threats ranging from malfeasant board members to malicious employees. And while some instances are simply the result of accidental negligence, often there are more...
27
Oct
As corporations and even entire municipalities are increasingly advising their employees to work from home in light of COVID-19, it is important to remember that doing so it not without its risks.
For any organization that has information to protect -- be it is customer or employee personally identifying information, financial information, or confidential and proprietary trade secrets -- permitting company data to travel home with or be remotely accessed by employees raises the chances of a cyber- incident involving...
26
Oct
On October 20, 2020, New York State issued its first guidance on the New York State Sick Leave Law (New York Labor Law § 196-b) (NYSSLL). The guidance, titled “New York State Paid Sick Leave FAQ” (FAQ) appears on the state’s new webpage dedicated to an overview of the NYSSLL, which includes, among other things, information about sick leave accruals, eligibility for sick leave, and permitted uses of sick leave.
The guidance, currently consisting of 44 questions and answers, addresses a multitude of...
26
Oct
Worker classification is a hot-button issue these days, with high stakes for employers and workers. In September, the US Department of Labor (DOL) proposed a new rule clarifying the test for independent contractor status, which would enable companies to more easily classify workers as independent contractors by emphasizing two “core” factors: the worker’s degree of control over the work; and their opportunity for profit and loss based on their initiative and/or investments. By contrast, in 2019, California passed A.B....
23
Oct
Key Notes:
New rule will provide consistent framework for fund of fund arrangements.
Reliance on the new rule will require compliance with certain conditions.
Existing fund of funds exemptive orders will be rescinded.
On October 7, the Securities and Exchange Commission (SEC) adopted Rule 12d1-4 (Rule), which establishes a comprehensive regulatory framework for fund of funds arrangements. Prior to its adoption, fund managers navigated a complex and sometimes inconsistent regime of rules and exemptions to engage in fund of funds...
23
Oct
Key insights
CFOs who maintained adequate cash reserves or had access to cash wisely positioned their companies to deal with the immediate shortage.
Successful leaders found ways to increase revenue and decrease operating costs.
Once their company was stabilized, these CFOs began strategic planning with key stakeholders.
As COVID-19 spread in the United States, many small to mid-market companies were able to weather the storm — or even grow — during the crisis. Successful companies focused on liquidity, then stabilization,...
23
Oct
“I have concluded that we should get ready for January 1 with arrangements that are like Australia’s based on simple principles of global free trade” – Prime Minister Boris Johnson’s statement following last week’s European Council summit kicked off what can only be described as a week of very public back and forth posturing leaving us wondering whether the post-Brexit trade talks had in fact, failed.
The walkout came late on Friday afternoon, after the UK Government took issue with...
22
Oct
Which would provide parties with uniform way to address existing and new derivatives contracts after discontinuation of Libor.
The International Swaps and Derivatives Association Inc. (ISDA) has published its 2020 IBOR Fallbacks Protocol and related Amendments to the 2006 ISDA Definitions to address discontinuation of the U.S. dollar (USD) Libor and other interbank offered rates (IBORs) in the global derivatives market. USD Libor is anticipated to be discontinued at the end of 2021.
Existing derivatives transactions will require a...
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