Multinationals

News & Analysis as of

New York Court Affirms Separate Entity Ruling on Appeal

On March 11, 2014, a New York state appellate court affirmed an important decision on the “separate entity” rule that is favorable to all multinational banks that maintain a New York branch. New York’s separate entity rule...more

Global HR Hot Topic—March 2014: Global Compensation, Bonus and Benefits Plan Checklist

Business imperatives push multinationals to expand at least some of their pay, bonus and benefits offerings internationally. This is why in recent years we have seen multinationals globalize many compensation and benefits...more

When Family Comes First

Ningbo native Lisa Sun spent two decades at several multi-nationals in China, climbing the ranks in the human resources sector. Three years ago, however, she was forced to make a tough call. Her son, who was in primary school...more

More CNIL Guidance for Multinationals Seeking to Comply with SOX & Dodd-Frank

United States employers operating in France often face a dilemma. While they may be bound by the whistleblowing requirements of the Sarbanes-Oxley Act ("SOX") and its Dodd-Frank amendments,1 they also are bound by the data...more

New PRC Policies on Annual Inspection

On February 19, 2014 the state-level General Administration for Industry and Commerce (the “AIC“) issued a notice to officially cancel the annual inspection for all types of enterprises including domestic entities,...more

Top Legal Issues Facing Suppliers in 2014: Antitrust

High on the Foley & Lardner LLP priority list of top antitrust issues facing automotive suppliers for 2014 was the broad and aggressive criminal antitrust investigation of the auto parts industry by the U.S. Department of...more

Businesses Face More Onerous Transfer Pricing Documentation and Country-by-Country Tax Reporting

The OECD proposes to reform transfer pricing documentation for multinational enterprises and to impose onerous country-by-country (CbC) reporting obligations, including disclosure of taxes paid in each country in which a...more

Credit Suisse Admits Securities Law Violations

Another example of the Commission’s new and evolving ad hoc admissions policy emerged from the settlement of an administrative proceeding with Credit Suisse Group AG. In the Matter of Credit Suisse Group AG, File No. 3-15763...more

Can SOX Go Overseas? The Debate Continues

The continuing controversy over whether retaliation claims under the Sarbanes-Oxley Act ("SOX") cover activities outside the United States continues to play out in the courts and administrative bodies. The two leading cases...more

Cross-Border Employers Must Take Care Before Implementing Drug-and-Alcohol-Testing Policies at Non-U.S. Operations

Many U.S.-based employers perform pre-employment, post-accident, or random drug testing, and with some exceptions, are generally permitted wide latitude in deciding when to conduct such tests. The U.S. attitude toward drug...more

Complaint about Foreign Tax Violations Sunk Under SOX

On February 12, 2014, the Fifth Circuit in Villanueva v. U.S. Department of Labor held that an employee did not engage in protected activity under SOX when he reported alleged violations of Columbian tax laws to U.S....more

Domestic Anti-Treaty-Shopping Proposals and Further Consultation Announced in Canada's Federal Budget 2014

In the Canadian Federal Budget released on February 11, 2014, the Department of Finance signaled its intention to enact a domestic treaty-shopping rule, generally allowing the Canada Revenue Agency (CRA) to deny treaty...more

How Employers Can Deal with USCIS’s Expanded L-1 Site Visit Program

The L work visa category allows multinational companies to transfer overseas employees to the United States. These employees may be transferred to the United States on an L work visa if the employee has been employed outside...more

The European Commission Unveils its First EU Anti-Corruption Report, Highlighting the Continuing Risk of Corruption in EU Member...

On February 3, 2014, the European Commission published its first Anti-Corruption Report (the “Report”). The Report covers all types of corruption, including political corruption, bribery of public officials, and private or...more

OECD releases new discussion draft on transfer pricing documentation – a template for multinational reporting of global business...

The Committee of Fiscal Affairs of the Organization of Economic Cooperation and Development (OECD) has released its proposed updated guidelines on transfer pricing documentation, including country-by-country reporting (CbC),...more

"Using Chapter 11 to Restructure Non-US and Multinational Companies"

Chapter 11 of the U.S. Bankruptcy Code is the most well-developed law of any insolvency regime in the world for helping troubled companies restructure their affairs. Some nations, like Canada and the United Kingdom, also have...more

"Asia M&A: Understanding the Differences Between English and US Approaches to Negotiated Acquisition Agreements"

As the M&A markets in Asia continue to mature, U.S. and European multinationals involved in such markets are more frequently experiencing the clash in approaches to M&A risk allocation that Asia-based lawyers and financial...more

"US Supreme Court Further Limits Jurisdictional Reach of the US Courts Over Foreign Torts"

The U.S. Supreme Court began 2014 by issuing a decision limiting the ability of plaintiffs to assert tort claims against foreign corporations in the U.S. courts based on events occurring outside the United States. In Daimler...more

"SEC Judge Issues Initial Decision Regarding Chinese Affiliates of the Big Four Accounting Firms"

On January 22, 2014, U.S. Securities and Exchange Commission Administrative Law Judge Cameron Elliot (the ALJ) issued an initial decision censuring the Chinese accounting firms affiliated with Ernst & Young LLP, KPMG LLP...more

Taxpayer Loses Canadian Transfer Pricing Case

A recent transfer pricing case from the Tax Court of Canada (McKesson Canada Corporation v The Queen) establishes a broad interpretation of the “regular” (non-recharacterization) transfer pricing rule in the Income Tax Act...more

"Base Erosion and Profit Shifting: Key UK Issues"

Six months have elapsed since the Organisation for Economic Co-operation and Development (OECD) released its 15-point action plan to address Base Erosion and Profit Shifting (BEPS). During this time, OECD has been working...more

Daimler AG v. Bauman: In Latest ATS Decision, the Supreme Court Limits Jurisdiction of U.S. Courts over Multinational Corporations

A sweeping decision by the Supreme Court on January 14 has further restricted the circumstances under which plaintiffs may sue multinational corporations in U.S. courts for harms occurring outside the United States....more

14 Global Workplace Trends For 2014 (Infographic)

With January in full swing and your first new year’s resolution already broken, here’s one goal you can keep: stay abreast of developments to get ahead of the curve, beginning with the top 14 trends impacting multinational...more

14 Global Workplace Trends for 2014

With January in full swing and your first new year’s resolution already broken, here’s one goal you can keep: stay abreast of developments to get ahead of the curve, beginning with the top 14 trends impacting multinational...more

U.S. Immigration Appeals Office Reverses Denial of L-1B Specialized Knowledge Employment Petition for Marketing Specialist

The L-1 visa is for employees of multinational corporations who wish to come to the U.S. to work for a U.S. parent, branch, or subsidiary corporation. In order to obtain an L-1 visa, you must either be coming to the U.S. in...more

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