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HTMLUS Banking Regulators Issue Further Frequently Asked Questions for Leveraged Lending Guidance
J. Paul Forrester; Mayer Brown LLP;
Legal Alert/Article
December 4, 2014, previously published on November 13, 2014
The Office of the Comptroller of the Currency (OCC) has released its 2014 Shared National Credits (SNC) review (the 2014 SNC review).

 

HTMLNew California Employment Laws Impose Additional Responsibilities On Employers
Marcia E. Goodman, Andrea M. Weiss, Ruth Zadikany, Lori A. Zahalka, John Zaimes; Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on October 31, 2014
Development: California Governor Jerry Brown has signed a series of bills aimed at increasing protections for California workers. Most notable are the implementation of a paid sick leave requirement in California and a new law that imposes statutory joint employer liability on companies that use...

 

HTMLEIOPA Updates Risk Dashboard-September 2014
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
On September 19, 2014, the European Insurance and Occupational Pensions Authority (“EIOPA”) published an updated version of its risk dashboard (EIOPA-FS-14/083) (dated September 17, 2014), which takes the form of a presentation.

 

HTMLA Second Effort to Establish a National Association of Registered Agents and Brokers (NARAB II)
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
A provision in the federal Gramm-Leach-Bliley Act of 1999 (“GLBA”) provided for the creation of a National Association of Registered Agents and Brokers (NARAB), a nonprofit organization, to administer the licensing of insurance agents and brokers (referred to generically as...

 

HTMLCalifornia Court of Appeal Holds That A Parent Holding Company May Be Liable for the Unlawful Wage and Hour Practices of a Subsidiary
Marcia E. Goodman, Andrea M. Weiss, Ruth Zadikany, Lori A. Zahalka, John Zaimes; Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on October 31, 2014
Decision: In Castaneda v. The Ensign Group, the California Court of Appeal issued a published decision holding that a corporate parent that has no employees can be found liable for its subsidiary’s nonpayment of overtime and minimum wages to employees if the parent wholly owns the subsidiary...

 

HTMLPRA Update on Solvency II Implementation
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
On August 11, 2014, a consultation paper regarding the transposition of the Solvency II Directive into the Prudential Regulation Authority PRA (“PRA”) rules was published.

 

HTMLEU-US Insurance Dialogue Project Publishes Revised “Way Forward” Document
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
Since 2012, the US Federal Insurance Office (“FIO”), the European Commission (“EC”), the European Insurance and Occupational Pensions Authority (“EIOPA”) and EU Member State national regulators have engaged in an insurance dialogue project to increase mutual...

 

HTMLGerman Insurance Market—Can a Corporation Seek Recourse from Its Management for a Fine Imposed on It?
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
Criminal and regulatory offences committed by a corporation can lead to massive penalties, in particular in case of cartel law infringements. If the cartelist participated in the cartel due to a wrongful act or omission of its management—whether the management actively participated in the...

 

HTMLUpdate on Captive Reserve Framework Implementation
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
As reported in our Second Quarter 2014 Global Corporate Insurance & Regulatory Bulletin, the NAIC has made significant progress in addressing reserve financing issues, particularly those relating to the use of captive reinsurers for so-called AXXX and XXX reserve financing transactions. On...

 

HTMLProvisional Version of European Commission’s Adopted Solvency II Delegated Regulation
Mayer Brown LLP;
Legal Alert/Article
December 2, 2014, previously published on November 11, 2014
On October 10, 2014, the European Commission published a provisional version of the text of a Delegated Regulation it has adopted supplementing the Solvency II Directive (2009/138/EC). It also published provisional versions of the 26 Annexes to the Delegated Regulation on its Solvency II webpage,...

 


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