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UNIQUELY POSITIONED TO ADVISE THE WORLD’S LEADING COMPANIES
Explore Global Perspectives
In Focus
* Mayer Brown promotes 65 lawyers to partner and counsel effective January 1
Mayer Brown today announces the elevation of 65 lawyers to partner and
counsel. The group comprises 42 lawyers who have been promoted to partner,
and 23 who have earned the counsel rank.
* New Hong Kong-Mainland China Reciprocal Enforcement Regime to Come Into Force
on 29 January 2024
The long-awaited Mainland Judgments in Civil and Commercial Matters
(Reciprocal Enforcement) Ordinance Cap 645 (Ordinance) will come into
operation on 29 January 2024. The Ordinance will provide a more comprehensive
mechanism for reciprocal recognition and enforcement of judgments in civil
and commercial matters between Hong Kong and Mainland China. Aside from an
increase in certainty and predictability for parties, we can expect to see a
reduction in time and legal costs spent on cross-boundary enforcement of
judgments.
* California Expands Paid Sick Leave Requirements Effective January 1, 2024
On October 4, 2023, California Governor Gavin Newsom signed Senate Bill (SB)
616, which amends California’s Healthy Workplaces, Healthy Families Act
(HWHFA) and expands paid sick leave requirements for employers in California.
In this Legal Update, we examine the provisions of the bill and its future
effects on California businesses, including what employers will want to know
to stay compliant with HWHFA.
1 of 3
* December 28
2023
President Biden Convenes First Meeting of the Council on Supply Chain
Resilience, Announces Actions to Further Strengthen Critical Supply Chains
On November 27, at the inaugural meeting of the Cabinet-level Council on
Supply Chain Resilience (the “Council”), President Biden unveiled almost “30
new actions to strengthen supply chains critical to America’s economic and
national security.”
* December 28
2023
House Select Committee on the Strategic Competition Between the US and the
Chinese Communist Party Expresses Concern to US Trade Representative
Earlier this year, China surpassed Japan to become the world’s biggest
exporter of cars. Reports show that China exported 1.07 million vehicles in
the first three months of 2023, up 58% compared to the same period in 2022,
whereas Japan’s vehicle exports stood at 954,185, having only increased 6%
from first quarter 2022.
* December 28
2023
Fund Finance Reporting Requirements Proposed by US Banking Regulators
On December 27, 2023, the US federal banking regulators proposed reporting
requirements for bank loans and commitments to the fund finance sector. This
change reflects not only the rapid growth in this sector but also the
regulators’ desire to better understand and supervise concentrations of
credit and risk in the US banking system.
While banks will not be required to report individual names of obligors,
banks and borrowers should understand how they will be affected by the ways
that regulators and investors use this new information. In this Legal Update,
we provide details on the proposed requirements and discuss how banks and
investors can prepare.
View our Perspectives
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that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer
Brown International LLP (England & Wales), Mayer Brown (a Hong Kong partnership)
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Brown Practices”). The Mayer Brown Practices are established in various
jurisdictions and may be a legal person or a partnership. PK Wong & Nair LLC
(“PKWN”) is the constituent Singapore law practice of our licensed joint law
venture in Singapore, Mayer Brown PK Wong & Nair Pte. Ltd. Details of the
individual Mayer Brown Practices and PKWN can be found in the Legal
Notices section of our website.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
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