Publication
US: IRS and global tax enforcers expand war on cryptocurrency
Global tax authorities have been continuously building an arsenal of tools and experts to monitor and audit crypto transactions.
New York Law Journal — Executive compensation in the health industry: The Court of Appeals speaks
Health industry organizations that receive state funds have been grappling in recent years with efforts by New York Governor Andrew Cuomo, and by the Department of Health (DOH), to limit the amount of compensation paid to their executives.
Following the issuance of a 2012 Executive Order by the Governor, the enactment of regulations by DOH limiting the compensation permitted to be paid to health industry executives, several actions were filed challenging the regulations. Two of those cases were consolidated at the Supreme Court level—In the Matter of LeadingAge New York, Inc. v. Shah and In the Matter of Coalition of New York State Public Health Plans v. New York State Department of Health (collectively, LeadingAge). LeadingAge reached the Court of Appeals, which on Oct. 18, 2018 struck down a critical prohibition contained in the regulations.
This article analyzes how the New York legal landscape has evolved with respect to compensation paid to health industry executives, and the state of the law in light of the Court of Appeals’ ruling in LeadingAge.
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Publication
Australia: Can Legacy Employers still access the temporary JobKeeper enabling directions under the Fair Work Act 2009 (Cth)?
When extending Part 6-4C of the FW Act, the government recognised there would be employers who had previously qualified for the JobKeeper scheme, but who would no longer qualify to participate in the scheme following its extension past the end of September 2020.
Publication
China: New Financial Holdco Licence introduced in China
On September 13, 2020, the State Council promulgated the Decisions on Permitting and Management of Financial Holding Companies (in Chinese: 《国务院关于实施金融控股公司准入管理的决定》), which were further implemented by the Supervisory and Management Financial Holdco Measures for Financial Holding Companies (In Chinese: 《金融控股公司监督管理试行办法》) issued by the People’s Bank of China (the PBOC) on the same date (collectively the Financial Holdco Measures). The Financial Holdco Measures will become effective on November 1, 2020, and introduce a new financial licensing requirement and a new type of financial institution, the financial holding company (Financial Holdco).
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