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“AI and sustainability - cure or curse?”
While AI can help resolve data issues in sustainable investing, it can create problems such as information breaches and inherent bias in data.
United States | Publication | March 2021
Calculating the regular rate of pay accurately is essential in paying overtime correctly under federal and state law. The Ninth Circuit Court of Appeals addressed this issue in Clarke, et al. v. AMN Services LLC, DBA Nursechoice. The case involved two classes of clinicians employed by a healthcare staffing company who were paid a weekly per diem—which the company characterized as an expense reimbursement—to cover commuting costs. In reversing the trial court's grant of summary judgment in favor of the company, the court held that the per diem functioned as compensation rather than expense reimbursement because it was paid in advance each week, did not require proof of actual expenses incurred, and was tied to the number of shifts worked each week by the employee regardless of actual travel costs.
This opinion serves as a stark reminder of the importance of proper pay policies and practices. Simply characterizing an employee benefit as a per diem or an expense reimbursement does not automatically make it a non-wage benefit for the purposes of calculating overtime pay. Failing to properly classify benefits and wages may expose employers to costly class and PAGA actions, as employees will not only be seeking unpaid overtime, but all of the corresponding penalties that can increase exposure exponentially, including inaccurate wage statement penalties and waiting time penalties.
Publication
While AI can help resolve data issues in sustainable investing, it can create problems such as information breaches and inherent bias in data.
Publication
In this edition of Regulation Around the World we review recent steps that financial services regulatory authorities have taken as regards investment research.
Publication
We have had a new pension tax regime since April 6, 2024. The underlying legislation is convoluted and almost impossible for a lay person to follow, so you would be forgiven for thinking there was a lot to study. At the very granular level that is true, and your scheme administrators will have a lot of detailed changes to make to systems. However if you zoom out a bit, in many ways life hasn’t changed. We’ve done the poring over densely amended tax legislation for you. Here are the highlights: five things to know and three things to do.
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