Tag Archives: financial services

Australia: Superannuation Guarantee and Annual Leave Loading

Our financial services team have posted an update on compliance obligations for annual leave loading and superannuation guarantee obligations. Click here to discover more. In addition, our colleagues at Greenwoods + Herbert Smith Freehills have posted their article Superannuation Guarantee owed … Continue reading

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Filed under Australia, Remuneration (including bonus and incentive plans)

Hong Kong: The Requirement of Being ‘Fit and Proper’

In many industries, it is a requirement that certain individuals performing regulated activities are, and remain, fit and proper. For example, these requirements will apply to certain individuals who are subject to the oversight of financial services regulators such as … Continue reading

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Filed under Asia, Data protection and privacy, Protection of business interests (including restrictive covenants and confidential information)

Australia: Whistleblower protection regime

On 7 December 2017, the Australian Government took a further step towards whistleblower reform by introducing the Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2017 into the Senate (‘Whistleblower Bill’). The Whistleblower Bill seeks to consolidate whistleblower protections in the … Continue reading

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Filed under Australia, Whistleblowing

Australia: Whistleblower protection laws – proposed amendments to the Corporations Act

The Government has released draft legislation significantly amending whistleblower laws: Treasury Laws Amendment (Whistleblowers) Bill 2017 (the Bill). Through a series of interlocking amendments to various Acts, the Bill seeks to consolidate whistleblower protections in the corporate, financial and credit … Continue reading

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Filed under Australia, Whistleblowing

Australia: Banking and Finance Bargaining Update

Issue #1 2017 In this edition we will discuss the Senate Committee Inquiry into corporate avoidance of the Fair Work Act 2009 (Cth), the progress of the Fair Work Amendment (Corrupting Benefits) Bill 2017 (Cth) as well as trends in … Continue reading

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Filed under Australia, Industrial/workplace relations, collective bargaining, works councils

UK: Whistleblowing – new rules for UK branches of foreign banks and insurers

The FCA and PRA have recently published new rules on whistleblowing procedures for UK branches of foreign banks and insurers, which will apply from 7 September 2017. UK branches will need to ensure their staff are informed of the option of … Continue reading

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Filed under UK, Whistleblowing

UK: FCA/PRA publish whistleblowing rules for UK branches

The FCA and PRA have recently published new rules on whistleblowing procedures for UK branches which will apply from 7 September 2017. In October 2015 the FCA and PRA introduced new rules requiring relevant deposit-takers and firms to introduce internal … Continue reading

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Filed under UK, Whistleblowing

Hong Kong: MIC Regime – Implications for HR

On 16 December 2016, the Securities and Futures Commission (SFC) issued a circular which introduces new measures to heighten the individual accountability of senior management of licensed corporations (LCs), through the designation of one or more Managers in Charge (MIC) … Continue reading

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Filed under Asia

UK: ESMA publishes final versions of UCITS V and updated AIFMD remuneration guidance – where are we now?

ESMA has published the final version of its guidance on the remuneration provisions of UCITS V, available here, and the updated guidance on the AIFMD remuneration provisions, available here. These final versions are the same as those included in in … Continue reading

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Filed under Remuneration (including bonus and incentive plans)

UK: FCA and PRA final rules on regulatory references – strengthening accountability in banking and insurance

The FCA and PRA have published new policy statements relating to regulatory references under the new accountability regimes for banks and insurers, which will come into force on 7 March 2017 (see FCA PS16/22 and PRA PS27/16). Banks and insurers … Continue reading

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Filed under Termination of employment, UK