Outsourcing Under The New Venezuelan Labor Law

The recent amendments to Venezuela’s Organic Labor Law impact local and multinational employers in many aspects, especially with regard to the practice of outsourcing. The new Organic Law of Labor and Workers (known as the “LOTTT,” its Spanish acronym) became effective on May 7, 2012, and generally prohibits outsourcing, defined as “fraud or deceptive practices committed by employers, for the purpose of distorting, disregarding or impeding the implementation of labor laws.” The LOTTT charges the […]

By | July 8th, 2012 ||

Russia: Amendments To Ability To Disseminate Information On Securities

The Russian Federal Service for Financial Markets issued an order (with effect from 17 February 2012) allowing the dissemination of information on securities designated for qualified investors (QIs) (which arguably covers securities of foreign issuers not admitted to public placement/circulation in Russia) to non-QIs in Russia subject to (i) sending a notice to such non-QIs that the information is designated for QIs and is not intended for public distribution and (ii) receiving an acknowledgement […]

By | June 22nd, 2012 ||

France: Supplementary Pension Schemes Contributions Reform

The social security contributions regime for supplementary pension schemes has been radically overhauled over the past two years. As a result, the social security contributions payable in respect of supplementary pension schemes has increased dramatically. At the employer’s choice, these contributions are based either on the amount of the pension accrued or on the contributions made into the pension scheme on the employee’s behalf. These contributions are then allocated to an “old-age solidarity fund”.

Employers’ […]

By | June 20th, 2012 ||