Civil Law

DEFORESTATION REGULATION: IMPACTS OF A POSSIBLE DELAY IN RISK CLASSIFICATION OF COUNTRIES AND OTHER RECENT DEVELOPMENTS

On 9 June 2023, the European Union published Regulation (EU) 2023/1115 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation (the “Deforestation Regulation” or the “EUDR”). The EUDR entered into force on 29 June 2023, although the main prohibitions and obligations will not apply until 30 December 2024.

Pursuant to the EUDR, beginning 30 December 2024, relevant products (derivatives of palm oil, soya, wood, … Read the rest

Civil Law

Acting Comptroller of the Currency Hints About Possible Operational Resilience Regulations

On March 12, at the Institute of International Bankers Annual Washington Conference, Acting Comptroller of the Currency Michael J. Hsu discussed the importance of operational resilience in the banking sector and hinted that potential regulations aimed to promote the same may be forthcoming.

Comptroller Hsu defined operational resilience as a bank’s ability “to prepare for, adapt to, and withstand or recover from disruptions.” These disruptions can stem from external events like natural disasters, bad actors, pandemics, or global conflicts, or … Read the rest

Civil Law

Staffing Companies and Their Clients: A Possible Disaster Brewing Because Of Independent Contractor Misclassification

I have many clients that use staffing/temporary agencies for securing personnel.  The danger lurking in these relationships is that the two entities (staffing company and client) may be found to be a joint employer.  Another danger, an offshoot of the joint employer problem, is that if the staffing agencies classify, or rather, misclassify, those workers as “independent contractors” when they send them to the clients, there may well be liability for the client company.  The USDOL is now onto this … Read the rest