China Clarifies Cross Border Data Transfer Rules
China and Hong Kong on July 29th, 2022
In November 2021, China introduced their core personal data protection regulations: the Personal Information Protection Law (PIPL). The PIPL applies to personal information, which is information that may be used to identify natural persons. Article 73 of the PIPL uses the term “personal information processing entity” to refer to an “organisation or individual that independently […]
Reforming executive pay – Government proposals and investor concern
on January 1st, 2012
There have been a number of recent developments with regard to executive pay. These are summarised below. Department of Business Innovation and Skills In September 2011 the Department of Business Innovation and Skills (“BIS”) published 2 documents relating to executive remuneration. These documents were i), a discussion paper on the governance of executive remuneration in […]
Insured benefits and the State Pension Age
on January 7th, 2011
Employers who want to withdraw insured benefits from employees who have reached the state pension age (the “SPA”) should be aware that it may not be as straightforward as it first appears. Background The Equality Act 2010 contains an exception which, with effect from 6 April 2011, permits employers to stop providing insurance, or related […]
The UK Bribery Act came into force on 1 July 2010 as the FSA announces a corruption review
on January 7th, 2011
The UK’s Bribery Act 2010 (the “Act”) applies to all organisations carrying on business in the UK and creates a number of offences, breach of which is punishable by up to 10 years imprisonment and an unlimited fine. Organisations doing business in the UK should ensure that they understand their obligations under the Act. Please […]
UK Budget 2011
on January 4th, 2011
The UK Budget was presented on 23 March 2011. Summary of the Budget’s major changes The main points arising from this Budget are set out below: Revised legislation on “disguised remuneration” is included in the Finance Bill 2011 published on 31 March 2011. This extremely broad anti-avoidance legislation should be reviewed by all those delivering […]
UK: Breaking news – New CEBS guidelines published on 10 December
on January 12th, 2010
Further to our article – CRD 3 and restrictions on remuneration in the financial services sector (click here), the Committee of European Banking Supervisors (“CEBS”) has published new guidelines on the Capital Requirements Directive (“CRD 3”). These Guidelines will be implemented on 1 January 2011 along with CRD 3. They require that up to 60% […]
UK: Bribery Act 2010 – ALERT – Are you compliant?
on January 12th, 2010
All organisations doing any business in the UK need to take active steps to manage the risk of criminal liability under this new Act The provisions of the Act come into force in April 2011. An obligation on all commercial organisations doing any business in the UK Recent draft guidance published by the UK Government […]
UK: 2011 “Budget” date announced for review of UK fiscal regime
on January 12th, 2010
The UK Budget 2011 will take place on Wednesday 23 March 2011. This date is important because changes to the UK tax regime can come into effect on the day of the Budget. Where possible, any schemes which may be affected by changes in the UK tax systems should be finalised prior to this date. […]
UK government announces new cap on number of migrants to the UK
on January 12th, 2010
The government has announced that from April 2011 new measures are being introduced to limit the number of non-EEA migrants who may come to the UK. Overview of UK immigration system During 2008/9 the UK immigration system was changed to a points based system and split into 5 tiers. (Each tier has been divided into […]