Remuneration

News & Analysis as of

Jury Verdict Against Millennium Provides Insight on Definition of Remuneration

Ameritox won the latest volley of an ongoing legal battle with Millennium when a federal jury in Florida awarded it $14.75 million on June 16, 2014. Ameritox persuaded the jury that Millennium’s free point of care test (POCT)...more

Financial Regulatory Developments Focus - June 2014 #2

In this issue: - Derivatives - Capital and Prudential Regulation - Remuneration - Credit Ratings - Funds - Financial Services - Enforcement - Events -...more

It’s All In The Benefits — Non-Salary Remuneration Can Render Your Volunteer An “Employee” For Purposes Of The Connecticut Fair...

When is an unpaid volunteer considered an “employee” and thus able to sue for discrimination or retaliation under the Connecticut Fair Employment Practices Act (“CFEPA”)? The answer: when the volunteer receives remuneration...more

Case Alert: Lock v British Gas Trading Limited

What happened? In Lock v British Gas Trading Limited, the ECJ decided that where an employee's remuneration includes commission, the employee's holiday pay should include the commission that would have been generated...more

Germany: Collecting society’s payout to publishers highly disputed

On 13 May 2014 the District Court of Berlin (16 O 75/13) rejected a claim brought by a songwriter and a composer against a collecting society’s payout to music publishers. The claim was directed at a declaratory judgment that...more

Banking Law Draft Amendment: Implementation of Directive CRD IV

The Minister of Finance has prepared a draft amendment to the Banking law. The amendment is intended to implement the CRD IV (Directive 2013/36/EU of June 26, 2013) and CRR Regulation (Regulation No 575/2013 of June...more

Legal and Ethical Risks of Healthcare Businesses in China

Recent disputes and controversies involving Chinese subsidiaries of foreign pharmaceutical companies have sounded warning bells on legal and ethical issues regarding participation in China’s rapidly growing and evolving...more

EU Commission Proposes to Amend Shareholder Rights Directive

The proposal covers shareholder votes on remuneration policies and related party transactions and greater transparency obligations on certain market participants. The European Commission (EU Commission) recently...more

"UCITS V Gets EU Political Backing, Foreshadowing New Limitations on Manager Remuneration"

European lawmakers have reached agreement on amendments to the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive, which regulates the management and marketing of EU mutual funds. These...more

Sixth Circuit Limits Scope of Disgorgement Provision in E&O Policy

In a cutting-edge decision, the federal 6th Circuit Court of Appeals has ruled that an exclusion barring coverage for an insured’s liability for “disgorgement” of “remuneration” or “advantage” is limited to “acquiring” funds...more

FCA Publishes Final Guidance on AIFMD Remuneration Requirements

This alert will be of interest to FCA-authorised investment management firms that are registering, or are currently considering registering, as alternative investment fund managers (“AIFMs”). ...more

OIG: Housing Placement Arrangement for Seniors Does Not Give Rise to Sanctions

The HHS Office of Inspector General (OIG) recently issued a favorable Advisory Opinion (No. 14-01) regarding a contractual arrangement under which a placement agency receives a per-resident fee for referring new residents to...more

Financial Services Quarterly Report - Fourth Quarter 2013: Delegated Portfolio Managers – Risk Takers or Not?

German management companies (KVGs, formerly known as KAGs) that manage alternative investment funds (AIFs) within the meaning of the Alternative Investment Fund Managers Directive (AIFMD) are considered to be alternative...more

Germany: Bonus Cap for Bank Staff Introduced

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

Better, Faster, Cheaper: Revised Arbitration Rules in Hong Kong

The Hong Kong International Arbitration Centre (HKIAC) Administered Arbitration Rules 2013 align the jurisdiction with international best practices. The HKIAC has updated its popular rules for administered...more

Autumn 2013 UK Remuneration Update  

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

Future Of Financial Advice Series - Ban On Conflicted Remuneration (Australia)

INTRODUCTION - This update is intended as a general overview, targeted specifically at claims officers and underwriters of insurers of professionals required to comply with the Future of Financial Advice (FOFA)...more

Financial Conduct Authority Guidance on AIFM Directive Remuneration Provisions

The UK Financial Conduct Authority (FCA) released proposed guidance on 6 September 2013 on its implementation of the remuneration provisions in the AIFM Directive (the AIFM Remuneration Code) for UK alternative investment...more

AIFMD Remuneration Code Implementation Planning (Presentation)

In This Presentation: - AIFMD Remuneration Rules: Not going away - Are there any ways I could avoid this altogether? - If not, could I partially avoid it or minimise its effect? - When do I need to worry about...more

October’s key changes in employment law

Nicholas Jew, a Partner in our Birmingham office comments: One of the less welcome employment law reforms implemented by the Coalition government has been the decision to do away with the practice that new employment law is...more

HHS Issues Guidance on Permitted Remuneration for Prescription Refill Reminders in the Absence of Patient Authorization

On September 19, the Health and Human Services Department (HHS) issued guidance on the effect of the January 25, 2013 Final Rule provision about remuneration related to prescription refill reminders and medication adherence...more

AIFM Remuneration Code Guidance

Summary - The UK’s Financial Conduct Authority (“FCA”) has published draft guidance on the application of rules on remuneration (the “AIFMD Remuneration Rules”) to FCA-authorized firms, once they become authorized as...more

European Banking Authority Publishes Responses to Consultation Paper on the Definition of Material Risk Takers for Remuneration...

The European Banking Authority (EBA) published a list of responses received to its May 2013 consultation paper on draft regulatory technical standards on criteria to identify categories of staff whose professional activities...more

AIFMD Update: U.K. Complies with Remuneration Guidelines

The U.K. Financial Conduct Authority (FCA) has written to the European Securities and Markets Authority (ESMA) to confirm that the FCA will comply with the ESMA guidelines relating to remuneration policies under the...more

Advice in a Post FOFA World – Strategic Ripples

There is no doubt that the Future of Financial Advice reforms (FOFA) will significantly transform the advice landscape, and there is debate around which sectors of the advice industry will be the winners, and how long the...more

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