Major Changes to Beneficial Ownership Information Reporting Requirements
FinCEN’s recent changes to beneficial ownership reporting requirements significantly impact you if you’re a foreign entity. The new rules exempt U.S. companies from reporting U.S. beneficial owners, focusing instead on foreign entities with a 30-day deadline for compliance. This move eases the burden for domestic businesses while imposing more explicit expectations and deadlines on foreign […]
Wage and Salary History Prohibited in New York
We previously posted that salary history inquiries were prohibited in New York City. This is now the case throughout the State. The new law takes effect on January 6, 2020. Key Components of the Salary History Law are that no employer shall: Rely on the wage or salary history of an applicant in determining whether […]
New Mandatory Sick Time Policy in Chicago
The City of Chicago added a paid sick time policy effective July 1, 2017. The policy mandates 1 hour of sick time for every 40 hours worked with a cap of 40 hours. Employees can also carry over 1/2 of their respective unpaid accrual into the following year. Employers with a more generous policy do […]
