Lauri London, counsel with Cohen & Buckmann, was quoted in the article, “Certain advisers can take advantage of payroll help,” in the April 13, 2020, Regulatory Compliance Watch newsletter. The article discusses what the federal SBA Paycheck Protection loan is, which investment advisers qualify for it, and whether advisers are required to disclose the loan in their Form ADV Brochure. In the article, Lauri opines that while an adviser could argue that applying for and/or receiving a PP loan may not indicate “a financial condition that is reasonably likely to impair an adviser’s ability to meet its contractual commitments,” the spirit of the Advisers Act suggests that firms should disclose.

Read the Article.