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Documents on Employee Benefits, Banking & Financial Services
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|Government Bans Consultancy Charges On Auto-Enrolment Members|
Dentons Canada LLP;
October 8, 2013, previously published on October 3, 2013By the end of 2018, all UK employers will be subject to a duty to enrol their employees into a pension scheme and to contribute to the scheme. Some young, old and low-earning employees are excluded. The Government's aim in introducing the duty is to improve the UK's retirement savings culture.
|First Circuit Holds That Private Equity Fund is a Trade or Business Subject to Potential ERISA Control Group Liabilities; Broader Tax Consequences Possible|
Lori A. Basilico, Benjamin Ferrucci, Karl P. Fryzel, Scott J. Pinarchick; Edwards Wildman Palmer LLP;
July 31, 2013, previously published on July 2013Last week, reversing a decision of a federal district court in Massachusetts, the First Circuit held, in Sun Capital Partners III, LP et al. v New England Teamsters & Trucking Industry Pension Fund et al., that a private equity fund qualified as a “trade or business” and may be...
|Fed Adopts New Capital Rules|
Timothy M. Sullivan; Hinshaw & Culbertson LLP;
July 10, 2013, previously published on July 8, 2013In August 2012, the various federal banking agencies proposed three separate notices related to capital and risk-weighted assets. The 972-page rule approved by the Federal Reserve (the Fed) on July 2, 2013 consolidated these notices with selected changes.
|CFTC Mandatory Clearing Rules - June 10 Phase-in Date for Financial Entities|
Joshua Cohn, Curtis A. Doty, Pamela J. Sackmann; Mayer Brown LLP;
May 22, 2013, previously published on May 16, 2013The next milestone date in the Commodity Futures Trading Commission’s (“CFTC’s”) phase-in of mandatory clearing occurs on June 10, 2013, when so-called “Category 2 entities” must begin clearing swaps subject to the mandate. Securitization vehicles, insurers,...
|Supreme Court Rules on Pension Claims in CCAA|
Aird Berlis LLP;
February 14, 2013, previously published on February 8, 2013On February 1, the Supreme Court of Canada (the “SCC”) released its long-awaited decision in Sun Indalex Finance, LLC v. United Steel Workers. By a five to two majority, the SCC allowed the appeal from the 2011 decision of the Ontario Court of Appeal (the “OCA”) which had...
|New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision|
S. Richard Orzy, Raj S. Sahni, Kevin J. Zych; Bennett Jones LLP;
February 14, 2013, previously published on February 12, 2013On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans versus court-ordered debtor-in-possession (DIP) financing charges under the...
|Practical Implications of the Supreme Court of Canada’s Decision In (Re) Indalex|
Mario J. Forte, Daniel Pearlman; Norton Rose Canada LLP;
February 11, 2013, previously published on February 2013The Supreme Court of Canada’s decision in (Re) Indalex has changed the landscape for both lenders and borrowers in Canada who sponsor registered defined benefit pension plans. For lenders, carefully drafted loan documentation and effective planning can enhance the protection of a secured...
|Give This Post Superpriority - Supreme Court Decides Sun Indalex Finance, LLC v. United Steelworkers|
Mark Firman, Ronald Podolny; McCarthy Tétrault LLP;
February 8, 2013, previously published on February 5, 2013The Supreme Court has issued its much-anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers.
|Pensions Briefing - The Pensions Regulator’s Code of Practice on Scheme Funding|
Lesley Browning, Peter Ford; Norton Rose Canada LLP;
January 8, 2013, previously published on January 2013In December 2005 the Pensions Regulator (TPR) issued a significant code of practice entitled “Funding Defined Benefits” (the Code) and our briefing notes of June 2006 and January 2010 looked at the Code in detail. This briefing updates and replaces our January 2010 briefing. Although...
|Compensation Clawback Policies in 2012|
Peter J. Rivas; Jones Walker LLP;
August 22, 2012, previously published on August 16, 2012On July 13, 2012, in the most recent high profile financial sector example of executive compensation clawbacks, J.P. Morgan Chase announced that it would seize millions of dollars of compensation from rogue traders. The recovered sums included restricted stock and canceled stock options grants....