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ARTICLE · 05 JANUARY 2015

Employment Law Updates For 2015

The introduction of the new health and work assessment and advisory service will be phased in, offering state-funded occupational health assistance for employees, employers and GPs.

United StatesEmployment and HR

As we look forward to the New Year, we anticipate the following employment law developments:

December 2014 to May 2015

  • The introduction of the new health and work assessment and advisory service will be phased in, offering state-funded occupational health assistance for employees, employers and GPs.

January 2015

  • Proposed rules on bonus clawback will come into force as amendments to the Remuneration Code, which is applicable to regulated companies. The new rules provide that past awards for variable remuneration (e.g. a discretionary bonus) may be adjusted (i.e. 'clawed back') to refl ect new information about the underlying risk (including evidence of poor risk management). The rules apply to any variable remuneration awarded on or after 1 January 2015 and for at least seven years from the date on which the variable remuneration is awarded.

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