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HTMLCosmetics Company Agrees to Pay US$135M to Settle FCPA Claims
Joseph De Simone, Richard M. Rosenfeld, Allison J. Zolot; Mayer Brown LLP;
Legal Alert/Article
May 12, 2014, previously published on May 8, 2014
On May 1, 2014, it was announced that Avon Products, Inc., reached a settlement with US regulators over a long-standing federal probe into whether the cosmetics company paid bribes in China and other countries to gain favors. New York-based Avon agreed to pay $135 million in fines and other costs...

 

HTMLProcess Is Its Own Reward: The IRS Modifies FATCA Effective Dates & Interim Compliance Standards
Jared B. Goldberger, Mark H. Leeds; Mayer Brown LLP;
Legal Alert/Article
May 12, 2014, previously published on May 5, 2014
On May 2, 2014, there were exactly 60 days until withholding and due diligence rules under the Foreign Account Tax Compliance Act (“FATCA”) became effective. Notwithstanding the fact that the US Internal Revenue Service (the “IRS”) has promulgated well over 1,000 pages of...

 

Adobe PDFFirst Conflict Minerals Filings Still Due June 2, 2014
Duncan A. W. Abate, David S. Bakst, Harry R. Beaudry, John P. Berkery, Edward S. Best; Mayer Brown JSM;
Legal Alert/Article
May 12, 2014, previously published on May 6, 2014
On April 29, 2014, Keith Higgins, the director of the Division of Corporation Finance for the US Securities and Exchange Commission (the Division), issued a statement confirming that “the Division expects companies to file any reports required under Rule 13p-1 on or before” June 2,...

 

HTMLBrazilian Central Bank Publishes Guidelines for the Social and Environmental Responsibility Policies of Financial Institutions
Luiz Gustavo Bezerra, Gedham Medeiros Gomes, Eduardo Lima; Mayer Brown LLP;
Legal Alert/Article
May 12, 2014, previously published on May 6, 2014
After two years in public consultation, the Brazilian Central Bank (BCB) enacted Resolution no. 4,327 on April 28, 2014, establishing guidelines for financial institutions (and other organizations whose operations are authorized by the BCB) in connection with the creation and implementation of...

 

HTMLIncrease in the Maximum Level of Relevant Income for MPF
Duncan A. W. Abate, Anita W. C. Lam, Hong Tran; Mayer Brown JSM;
Legal Alert/Article
May 6, 2014, previously published on May 5, 2014
The maximum level of monthly relevant income for Mandatory Provident Fund (MPF) purposes will be increased from HK$25,000 to HK$30,000 with effect from 1 June 2014.

 

HTMLCircular 05 Lists Potentially Unsafe Products and Goods Under MIC Management
Mai Phuong Nguyen; Mayer Brown JSM Vietnam Limited;
Legal Alert/Article
May 6, 2014, previously published on May 5, 2014
On 6 April 2011 the government issued Decree No. 25/2011/ND-CP to detail and guide the implementation of the Law on Telecommunications (Decree 25). Decree 25, among other things, empowers the Ministry of Information and Communications (MIC) to issue lists of products and goods under MIC management...

 

Adobe PDFAdditional SEC Guidance on Well-Known Seasoned Issuer Waivers
Laura D. Richman; Mayer Brown LLP;
Legal Alert/Article
May 5, 2014, previously published on April 30, 2014
On March 12, 2014, the Division of Corporation Finance (Division) of the US Securities Exchange Commission issued revised guidance on wellknown seasoned issuer (WKSI) waivers. The Division further updated this guidance on April 24, 2014 (the April 2014 guidance).

 

HTMLTip of the Month: Data Privacy Concerns When Moving Email to the Cloud
Michael D. Battaglia, Eric B. Evans; Mayer Brown LLP;
Legal Alert/Article
May 5, 2014, previously published on April 30, 2014
In an effort to reduce costs and leverage the latest advances in technology, the chief information officer of a multinational company decided to use a cloud computing vendor to host the company’s email. After identifying a handful of vendors that appeared to meet the company’s needs,...

 

HTMLMexico’s President Introduces Proposed Energy Laws to Congress
Pablo C. Ferrante, Dallas Parker, Gabriel J. Salinas, Jose L. Valera; Mayer Brown LLP;
Legal Alert/Article
May 5, 2014, previously published on April 30, 2014
On April 30, 2014, President Enrique Peña Nieto introduced to the Mexican Congress nine new bills, as well as amendments to several existing laws, to implement the constitutional energy reform passed on December 21, 2013. The energy reform eliminates a restrictive legal framework that has...

 

HTMLObama Administration Proposes to Give States Broad Authority to Toll Existing Interstates to Generate Revenue for Transportation Purposes
George K. Miller, David Narefsky, John R. Schmidt, Joseph Seliga; Mayer Brown LLP;
Legal Alert/Article
May 5, 2014, previously published on April 30, 2014
In a major policy shift with potentially large implications for US infrastructure public-private partnership (“PPP”) activity, the Obama administration has proposed to change federal law to give US states broad authority to put tolls on existing interstate highways to provide funding...

 


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