Labor & Employment Finance & Banking

Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals.
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ESAs update ECON on priorities

The EP’s Economic and Monetary Affairs Committee (ECON) has held a hearing of the Chairpersons of the European Supervisory Authorities (ESMA, EBA and EIOPA jointly). The Chair of each of the authorities and ESMA’s Executive...more

EIOPA consults on PEPP

EIOPA has published a survey on the attractiveness of a standardised PEPP. Following previous consultation (see FReD 10 July), EIOPA is seeking further input on what would make the market attractive for providers to offer...more

Labor Department Provides Guidance on ERISA Coverage of State-Run Retirement Programs for Private Sector Employers

In recent years, a number of states have explored the idea of establishing state-run retirement plans for private sector employees who do not have access to employer-sponsored retirement plans. The preemption concerns under...more

IRS Issues Guidance on the Applicability of Section 162(m) to CFO Compensation

Summary: The IRS recently informally revised its guidance regarding which officers of public companies must be considered when determining the compensation deduction limitation of Section 162(m) of the Internal Revenue Code...more

Group Life Insurance Claims by a Teacher’s Beneficiary Are Subject to ERISA Preemption: Woods v. American United Life Insurance...

On ERISA preemption grounds, a federal court has ruled against state law claims asserted by the beneficiary of a former school teacher who sought benefits from a group life insurance policy. Woods v. American United Life...more

Employment Law This Week: Whistleblower Protection, Breast-Feeding Collective Action, Marijuana Use, Pattern-or-Practice Claims [Video]

We invite you to view Employment Law This Week - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

ISS Ignores Contrary Studies In Adopting Overboarding Policy Change

ISS released its 2016 Benchmark Policy Recommendations last Friday. I had previously criticized ISS for its proposal to change its recommendation on withholding votes with respect to directors who sit on too many boards...more

The Carrot or the Stick? New Ways to Explain Why Compliance Builds a Stronger Bottom Line

There is a well-known truth that most business leaders get: bad ethics are bad for business. The reasons are as obvious as last week’s headlines: fines, investigations, remediations, and the like can take a huge toll...more

Fiduciary Liability Insurance is Worth It

The warranty in the electronics business is gravy for the retailers who sell it. You’ll be surprised how many people pay $20 to get a warranty on a $100 Blu-Ray player. When Best Buy was going national, they advertised how...more

Executive Orders Subject Banks to New Requirements as Federal Contractors

President Obama has recently issued a number of executive orders imposing new requirements on federal contractors in the area of labor and employment. Some of these executive orders, which are regulated and enforced by the...more

The IRS Releases The Benefit Plan Limitations For 2016, Most Limits Remain The Same

The Internal Revenue Service (IRS) recently announced the annual inflation adjustments for 2016 for qualified retirement plans, fringe benefits and health plans. This information may be found on the IRS' website and in...more

“Socially Responsible” Investing Under ERISA: New DOL Guidance

Fiduciary concerns may have prevented plan committees from considering “economically targeted investments” (ETI) – such as investments that observe environmental, social or governance responsibility (ESG) standards – as...more

Highlights of SEC’s 2015 Annual Whistleblower Report

On November 16, 2015, the Securities and Exchange Commission’s Office of the Whistleblower (“OWB”) released its fifth Annual Report on the Dodd-Frank Whistleblower Program to Congress, which details information on OWB’s...more

Proxy Access Update—Preparing for the 2016 Proxy Season

Proxy access predominated corporate governance issues for the 2015 proxy season, with over 100 proposals submitted on the topic, compared to 18 in 2014. Shareholder proponents achieved significant success in 2015, with an...more

Deaf Ears: The Surprising Truth About Employee Whistleblowers

In some ways, whistleblowers represent the ultimate fear within a company: an employee goes to a watchdog to report something unethical, illegal, or otherwise improper, and a legal and organizational battle begins that sucks...more

California Court of Appeal holds certain class action waivers may be unenforceable

Class action waivers have become common in consumer contracts, including sales agreements to purchase newly constructed residences and employment agreements, which may also contain arbitration clauses. After last year’s...more

Your daily dose of financial news The Brief – 11.17.15

Dealbook’s Andrew Ross Sorkin offers more perspective on the economic cost of terrorism, suggesting—based on a disturbingly high data set of recent examples—that market volatility in the days following a major event isn’t the...more

Gesetzentwurf sieht Höchstüberlassungsdauer von 18 Monaten für Leiharbeitnehmer vor

Der Gesetzesentwurf, der heute der deutschen Presseagentur präsentiert wurde, ist noch nicht veröffentlicht. Nach übereinstimmenden Pressemeldungen sieht der Entwurf von Bundessozialministerin Andrea Nahles vor, dass für...more

Avoid Hiring Plan Providers Because They Were “Juiced In”

Novant Health, Inc. is a non-profit hospital system based in North Carolina and they agreed to pay $32 million in a settlement regarding a participant lawsuit against their 401(k) plan. What’s so odd about the case is that it...more

ERISA: Medical Providers Lack Standing For Reimbursement — Anti-Assignment Provisions Enforceable

You know that patients typically assign rights under a health insurance plan to the provider of medical services. This is accomplished by signing an assignment form upon intake/admission. Then, the healthcare provider sends...more

Kansas Court Dismisses Dodd-Frank Whistleblower Claim for Failure to Complain of Securities Violations

On November 5, 2015, the District of Kansas dismissed a whistleblower retaliation claim under Dodd-Frank, ruling that the statute’s anti-retaliation provision only protects individuals who report securities violations.  Azim...more

Manufacturing a Troubling Future Part Two:  Recent Decision

This is the second of two posts regarding the “troubling” state of multi-employer pension plans. My October post provided an overview of the recently published Teamsters’ Central States Pension “Rescue Plan” and discussed...more

How to Deal with Employees

I always say that the main reason that I don’t want to have employees is because I was an employee once too. The union lawyers I worked with just didn’t understand the whole dynamic of the employer-employee relationship. They...more

Sixth Circuit Clarifies Prior Reversal Of An Order That Had Vacated Arbitration Award As A Manifest Disregard Of The Law

After an arbitrator ruled that indemnification agreements between an acquiring company and certain former directors and trustees of employee stock ownership plans, were void under ERISA, the district court vacated the...more

Washington, D.C. Update – November 2015

In the final week of October, congressional leaders and the White House reached an agreement on a wide variety of measures to "clean the barn" for Speaker John Boehner's (R-OH) successor. The Bipartisan Budget Act of 2015...more

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