Government Support for Self-employed Individuals in the United Kingdom
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COVID-19 Ramifications for Public Companies—SEC Disclosures, SEC Filings and Shareholder Meeting Logistics: First Analysis
In this Lexis Practice Advisor ® First Analysis article, Laura Richman and Michael Hermsen discuss some key ramifications of coronavirus outbreak for public companies. In addition to a host of significant general business concerns, such as those relating to liquidity and financing opportunities, revenues, supply chain and employee and community health and welfare, the novel coronavirus known as COVID-19 has raised a number of issues specific to public companies that file reports with the US…
How is the United Kingdom Rising to the Competition Challenges of COVID-19?
USPTO Extends Deadlines under the Coronavirus Aid, Relief, and Economic Security Act
What are “Essential” Consumer Financial Services Businesses?
Each day, new jurisdictions issue orders for businesses to cease operations and for residents to stay at home. The orders typically exempt “essential businesses,” including certain businesses and workers in the financial sector. Those jurisdictions recognize that consumer financial services businesses provide essential access to deposits, credit, and payment systems. Often, though, the orders’ terminology is nonspecific with regard to the particular types of businesses that are essential, so the exact parameters for the “essential…
SEC Chief Accountant Addresses COVID-19
In recent remarks, the Chief Accountant noted that the Securities and Exchange Commission’s Office of the Chief Accountant (OCA) and other divisions within the SEC are monitoring the issues raised by COVID-19.
He emphasized the importance of reliable financial information, which provides transparency for investors, and noted that the Office has actively engaged with the Financial Accounting Standards Board (FASB) and others in order to address the impacts of the virus.
The Chief Accountant also…
The United Kingdom, Like the United States, Formally Sanctions Video Checks of Right to Work, As COVID-19 Work From Home Arrangements Continue
The CARES Act and CLOs
As discussed in a previous post, Section 4003 of the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, authorizes $500 billion of liquidity to support businesses, states and municipalities “related to losses incurred as a result of coronavirus.” It can be expected that a portion of the liquidity authorized by Section 4003 of the CARES Act will take the form of loans to companies that are borrowers under loans held by collateralized…
SEC to Vote on Offering and Communications Rule Amendments for BDCs and CEFs
On Wednesday, April 8, the Securities and Exchange Commission will hold an open meeting in order to consider whether to adopt rule and form amendments in order to modernize the offering framework for business development companies (BDCs) and closed end funds (CEFs), which were proposed in March 2019 (proposing release No. 33-10619).
The SEC was mandated by the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act. See the…
White House Uses Defense Production Act to Facilitate Ventilator Production and Prioritize N-95 Respirator Acquisition
On Thursday, April 2, 2020, President Trump issued two memoranda directing use of the Defense Production Act (“DPA”) to (i) facilitate the supply of materials for production of ventilators and (ii) acquire N-95 respirators. Making the determination necessary to trigger the president’s powers under DPA section 101, 50 U.S.C. § 4511, the presidential memoranda determined that the scarcity of critical health and medical resources essential to national defense requires intervention in the commercial market.
Continue…