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Highlights

Tom Asmar Joins Baker McKenzie
We are excited to announce that Thomas (Tom) Asmar has joined our Compensation Group, based in our Palo Alto office. He joins the Firm from Skadden, Arps, Slate, Meagher & Flom LLP bringing nearly 20 years of experience advising companies and private equity funds on all employee benefits and compensation issues related to corporate transactions, such as mergers, acquisitions, IPOs and financings. Tom counsels companies in a variety of industries on the design and implementation of compensation arrangements, including employment agreements, equity compensation plans, incentive compensation, deferred compensation, severance agreements and change-in-control arrangements.

Global Equity Compensation Practice Note by Brian Wydajewski
Brian has recently authored a Practice Note for Practical Law. The seven-page Practice Note provides a basic primer of the various legal, regulatory, and tax-related issues that US public companies must typically address when considering whether to provide stock-based compensation internationally. View the article.

COVID-19 Resilience, Recovery and Renewal Hub
While we been focused on the impact of the pandemic and related stock market volatility on compensation and benefit plans, we did want to highlight that our Firm has extensive resources on various COVID-19 issues globally and across practice areas. For example, our employment colleagues have globally addressed issues related to reopening and these are summarized in "The Reopening Playbook - Guidance for Multinational Employers." The resources can be downloaded from our COVID-19 Resilience, Recovery and Renewal hub.

Annual Share Plan Reporting Obligations - Australia and the UK
As a final introductory comment, please keep in mind that the annual share plan reporting obligations for Australia and the UK will be due (and as of the date of this newsletter, there has not been any announcement extending the respective deadlines). Please see our alerts for more details.

In this issue

Canada

  • Recent Litigation Involving Terminated Employee's Claims for Equity Awards

European Union

  • EU Prospectus Exemption Requirements: The Devil is in the Details

Russia

  • Foreign Account Reporting Requirements Expanded to Cover Foreign Brokerage Accounts
  • Different Repatriation Requirement for Foreign Bank Accounts versus Foreign Brokerage Accounts

Sweden

  • Tax Withholding Considerations

United Kingdom

  • UK Budget 2020: Employee Tax Highlights
  • Update on Completion of Brexit

United States

  • Important Retirement Plan Implications from the CARES Act

United States

  • Increased Flexibility for Taxpayers in Section 125 Cafeteria Plans in Response to COVID-19
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