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HTMLIndonesia: Stringent New Requirements for Employing Foreigners Amended
Michelle Angela, Elizabeth Cole; Jones Day;
Legal Alert/Article
April 13, 2016, previously published on March 2016
Following extensive lobbying and criticism from the business community, on October 23, 2015 the Ministry of Manpower enacted Regulation No. 35 of 2015 regarding Procedures for the Utilization of Foreign Workers, which amends the stringent requirements for the employment of foreigners under...

 

HTMLChina: Implementing Rules on Labor Contract Law Released for Public Comments
Ivy Wang, Liming Yuan; Jones Day;
Legal Alert/Article
April 13, 2016, previously published on March 2016
In July 2015, the Ministry of Human Resources and Social Security of the People's Republic of China ("PRC") released Draft Provisions Related to the Implementation of PRC Labor Contract Law for public comments ("Draft"). The Draft provides detailed interpretations clarifying...

 

HTMLHong Kong: Commencement of the Contracts (Rights of Third Parties) Ordinance
Elizabeth Cole, Shiela Lee; Jones Day;
Legal Alert/Article
April 13, 2016, previously published on March 2016
The Contracts (Rights of Third Parties) Ordinance (Cap. 623) ("Ordinance") came into effect on January 1, 2016 and applies to all contracts entered after this date, subject to certain specified exceptions, such as bills of exchange, covenants relating to land, and letters of credit. The...

 

HTMLU.S. Further Eases Restrictions on Travel, Financial Services, and Business Activities with Cuba
Sean Thomas Boyce, Laura L. Fraedrich, Michael P. Gurdak, Fahad A. Habib, Pedro A. Jimenez; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
On the eve of President Barack Obama's March 2016 visit to Cuba, the U.S. government has once again eased trade restrictions with the island nation. The U.S. Department of the Treasury and the U.S. Department of Commerce issued final rules this week that, among other measures, (i) increase the...

 

HTMLBelgium Introduces New Leniency Guidelines on Competition Law Prosecutions
Bernard E. Amory, Serge Clerckx, Laurent De Muyter, Yvan N. Desmedt, Alexandre G. Verheyden; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
The Belgian Competition Authority ("BCA") has released new guidelines on its leniency program for cartel agreements ("Guidelines"), which entered into force on March 22, 2016. The leniency program, which exists in some form in most other European jurisdictions and the U.S. as...

 

HTMLBrazilian Government Approves Increase in Capital Gains Rates
S. Wade Angus, Marcello Hallake, Sanjiv K. Kapur, Luis Riesgo; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
In September 2015, the Brazilian federal government proposed a new rule increasing the income tax rates applicable to capital gains payable by certain taxpayers from a transfer or sale of assets or rights, as reported in our Alerts of October 2015 and December 2015. The rule has been approved by...

 

HTMLMadden 2016: U.S. Supreme Court Calls for the Views of the Solicitor General in Case with Significant Implications for the Consumer Debt Market
Traci L. Lovitt, Matthew A. Martel, Anthony M. (Tony) Masero, Joseph B. Sconyers; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
On March 21, 2016, the U.S. Supreme Court announced that it has called for the views of the Solicitor General in connection with the certiorari petition in Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015), a decision restricting non-bank loan purchasers from benefitting from the National...

 

HTMLCybersecurity's Moment and What it Means for Financial Services
Lisa M. Ledbetter, Todd S. McClelland, Mauricio F. Paez, Albert J. Rota, C. Hunter Wiggins; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
The recent announcement of President Barack Obama's Cybersecurity National Action Plan, with programs aimed at improving the security of public and private data,[1] is a reminder that cybersecurity—including identifying, defending against, recovering from, and notifying others about cyber...

 

HTMLBIS Backtrack: U.S. Temporarily Reauthorizes Certain Exports and Reexports to Two ZTE-Affiliated Entities
Chad O. Dorr, Laura L. Fraedrich, Michael P. Gurdak, Chase David Kaniecki, D. Grayson Yeargin; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
This week, the U.S. Department of Commerce, Bureau of Industry and Security ("BIS") issued a temporary general license that restores certain export, reexport, and transfer privileges to Zhongxing Telecommunications Equipment Corporation ("ZTE Corp.") and ZTE Kangxun...

 

HTMLFirst Supreme Court Decision on General Anti-Avoidance Rule Concerning Reorganization Transactions
Harukuni Ito, Yuichiro Mori, John C. Roebuck, Takako Yako, Toru Yamada; Jones Day;
Legal Alert/Article
April 12, 2016, previously published on March 2016
On February 29, 2016, the Supreme Court (first petty bench) issued a decision describing the standards for applying the general anti-avoidance rule concerning reorganization transactions under Article 132-2 of the Japanese Corporate Tax Law (the "Anti-Avoidance Rule").

 


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