Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Lat: Law Firms Must Get Big, Profitable or Lost
Lat: 'Measured Comeback' for BigLaw; Associate Bonuses Rising
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
We operate a warehouse in Minnesota where the employees work two weeks on / two weeks off. They work 10 hours per day, 7 days per week when they’re on at an hourly rate of $30. The employees also ordinarily...more
On Friday, June 20, 2014, the Financial Industry Regulatory Authority (“FINRA”) withdrew its proposed Rule 2243, which would have required disclosure and reporting of FINRA member recruiting practices. Essentially, the rule...more
As many employers recognize, a seemingly small oversight in administering employee payroll can have significant consequences, including unexpected complex litigation. One such oversight is failing to consider the wage-hour...more
FINRA has submitted a proposal to the SEC to adopt FINRA Rule 2243 (Disclosure and Reporting Obligations Related to Recruitment Practices). In FINRA’s words, Rule 2243 would require, in some cases, “specific disclosure by...more
What counts as a bonus: There are a lot of ways to describe a bonus. For our purposes, a bonus includes any discretionary or non-discretionary payment or “compensation” to an employee outside of their regular hourly, salary,...more
Commissions or bonuses represent a significant component of the compensation packages of many employees. As of January 1, 2013, California Labor Code section 2751 requires commission agreements to be set forth in writing, and...more
Who remembers Dennis Kozlowski? He is the former CEO of Tyco International, and his net worth is estimated at $600 million. However, his residence? A mansion? On his own island?
Nope. He is currently serving 8.33 to...more
Your good client, Avery Phillips, Chairman of the Board, calls you because he is considering engaging a friend, Tepper, to identify potential investors for his company. Phillips explains that Tepper has extensive business...more
November, a federal district court granted partial summary judgment for the Department of Justice in U.S. ex. Rel. Baklid-Kunz v. Halifax Medical Center, ruling that productivity bonuses paid to employed physicians violated...more
European Banking Authority publishes regulatory technical standards for the identification of “material risk takers”, reducing the potential impact of the new rules on bonus caps....more
An employer cannot deduct cash bonuses in the year in which its employees perform the services giving rise to the bonuses, but must wait until the following year when the bonuses are paid, under bonus plans with several...more
As 2013 comes to an end, we have been considering a number of workplace issues that employers might face at the end of the year and the beginning of the holiday season. Part seven of our series discusses the wage and hour and...more
Another law firm has motivated its associates to spend more time rather than less getting their work done. Kaye Scholer is paying upwards of $20,000 in additional bonuses to those who exceed 2,200 hours per year. The firm’s...more
Does your company pay employees holiday or year-end bonuses? Have you ever considered the impact these bonus payments might have on your employees' overtime premiums? If not, you could be violating FLSA rules....more
As the end of the year and year-end holiday season approach, so do annual bonus time and paid holidays. Employers should avoid some common wage and hour pitfalls with bonuses and paid holidays. The first common pitfall is not...more
On November 13, 2013, the United States District Court for the Middle District of Florida granted partial summary judgment in favor of the United States inUnited States ex rel. Baklid-Kunz v. Halifax Hospital Med. Ctr., et...more
In an IRS Field Attorney Advice Memorandum (FAA 20134301F) dated September 18, 2013, the IRS Office of Chief Counsel reviewed several common bonus plan designs in connection with a request for an opinion with regard to the...more
Each year, we provide our employees with a Christmas bonus of varying amounts. We’ve always done this because we want to reward our employees for a hard year of work and also spread a bit of holiday cheer. We were recently...more
This week, a federal district court in Florida concluded that a hospital violated Stark as a matter of law by entering into employment agreements with physicians that included bonus compensation that was not based exclusively...more
With the Holiday season about to start, we know that the end of the year will soon follow. While plan participants maybe more concerned about holiday shopping or the firm’s annual holiday party, it’s a great and necessary...more
For mortgage industry members wondering how serious the CFPB will be when enforcing the Regulation Z loan originator compensation rule (“LO Compensation Rule”) we now have an answer— $13 million dollars serious.
It’s Good Work, If You Can Get It
According to a story by Michael D. Morois, the California Public Employees’ Retirement System recently doubled bonuses to its staff, paying an aggregate of $7.7 million to some 130...more
In Germany, remuneration of managers in general has increasingly come into public and political focus.
Over the last years, the German legislator enacted several law reforms concerning managers’ pay. Very recently, the...more
Updates for UK listed and regulated companies on incoming “say on pay” rules, the UK challenge to the EU “bonus cap” and new guidance on AIFMD remuneration rules.
This Client Alert summarises three key developments...more
While it has only just begun its third year, the CFPB has already left its mark with a series of recent enforcement actions. Below are four examples of how the CFPB has wielded the broad scope of its mandate....more
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