On 23 January 2025, the US Supreme Court granted the US government’s application to end the nationwide preliminary injunction against enforcement of the Corporate Transparency Act (CTA) issued by the District Court in Top Cop Shop on 3 December 2024. This injunction is currently on appeal with the Fifth Circuit. However, a separate nationwide order that also stayed the CTA beneficial owner reporting deadline remains in place. This order was issued by a different federal judge in Smith v. US on 7 January 2025.
Philippines: DOLE issues new rules and regulations on the employment of foreign nationals in the Philippines
On 21 January 2025, the Department of Labor and Employment issued Department Order No. 248, series of 2025 or the “New Rules and Regulations on the Employment of Foreign Nationals in the Philippines” (“New Rules”), which provides for the rules regulating the employment of foreign nationals in the Philippines.
The New Rules shall take effect fifteen (15) days after its publication in the Official Gazette or newspaper of general circulation. As of the date of this writing, the New Rules has not been published in the Official Gazette or any newspaper of general circulation.
United States: DOJ & FTC – New Antitrust Guidelines for Labor Issued as Biden-Harris Administration Clocks Out
On January 16, 2025, the Department of Justice and the Federal Trade Commission replaced the 2016 Antitrust Guidance for Human Resource Professionals. The new guidelines now titled, Antitrust Guidelines for Business Activities Affecting Workers, reaffirm the major points of the 2016 guidelines. Wage-fixing and no poach agreements remain illegal and sharing wage information may violate the antitrust laws. However, the new guidelines identify a slew of other agreements and practices that can violate antitrust laws, including franchisee agreements with employment restraints, non-compete clauses, overly broad non-disclosure agreements, and other employment restraints.
Indonesia: The future of financial conglomeration — Understanding the latest regulatory changes
The Financial Services Authority (Otoritas Jasa Keuangan or OJK) has finally unveiled the much-anticipated implementing regulation for the new chapter of financial conglomeration. OJK Regulation No. 30 of 2024 on Financial Conglomeration and Financial Holding Company governs the establishment or appointment of a financial holding company (perusahaan induk konglomerasi keuangan or PIKK) – a legal entity tasked with controlling, consolidating and overseeing all of the financial conglomerate’s activities. This regulation was promulgated and became effective on 23 December 2024.