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Congress Passes CARES Act: Overview of the Relief Available to Small and Other Business Concerns
On April 2, 2020, the Department of Treasury and the Small Business Administration (SBA) posted the Interim Final Rule implementing Sections 1102 and 1106 of the CARES Act in advance of its publication in the Federal Register. On April 3, 2020, SBA also released an overhauled Paycheck Protection Program loan application form.
The new Interim Final Rule and SBA Form 2483 reflect significant developments since the promulgation of the CARES Act and our prior…
Cybercriminals Adapt Old Scams to Capitalize on COVID-19
By Kate Black
While many companies across the United States transition to remote working, scammers are taking this opportunity to target vulnerable and unsuspecting employees. Some emails and websites promising information about keeping safe from, and offering resources for, the Coronavirus Disease 2019 (COVID-19) pandemic have turned out to be scams that push malware, ransomware, and disinformation, or attempt to steal passwords and personal information. One wrong click may become a time-consuming and costly interruption to business operations…
Real Estate Provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed by the United States Senate on March 25, 2020, passed by the United States House of Representatives on March 27, 2020 and signed into law by President Trump on March 27, 2020. The CARES Act is the third financial aid package enacted in response to the Coronavirus Disease 2019 (COVID-19) crisis and includes $2 trillion in relief measures for enhancing loan programs to…
COVID-19 Federal Legislative and Regulatory Economic Stabilization Programs – What Your Business Needs to Know
As the Coronavirus Disease 2019 (COVID-19) pandemic continues in the United States, the U.S. Congress and the U.S. federal financial regulatory agencies – the Federal Reserve, U.S. Department of the Treasury, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, and the Consumer Financial Protection Bureau (collectively, the Financial Agencies) – have introduced a number of financial stimulus programs or provided guidance designed to stabilize the U.S. economy and…
Update: Latin America Renewable Energy – Calls for Public Bids
I. Argentina
The fourth call for bids related to the last quarter of 2019 bidding process for joint purchases of renewable energy in the Renewable Energy Term Market (“MATER”) with the government of Argentina, was cancelled due to the lack of interest from the private sector.
II. Chile
The Under Ministry of Energy of Chile called for a public tender in order to execute a study called “Projection of the power distribution in the residential,…
עדכונים מטעם הרשות לניירות ערך בארה״ב בתגובה למגיפת וירוס הקורונה
Congress Passes CARES Act: Overview of the Relief Available to Small and Other Business Concerns
In the midst of a global pandemic and the highest unemployment rates the United States has seen since 1933, President Trump signed into law the $2 trillion dollar Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), providing economic relief to businesses, States and municipalities, and individuals affected by COVID-19. While the scope of the CARES Act is wide-ranging, this alert is limited to providing a high-level overview of the relief available for qualifying…
SEC Provides Updates in Response to Coronavirus Disease 2019
The U.S. Securities and Exchange Commission (the SEC) is continuing to provide updates regarding its response to COVID-19 and the related effects on the securities markets. On Jan. 30, Chairman Jon Clayton first recommended that his staff monitor and provide guidance and other assistance to issuers and other market participants regarding disclosures related to the current and potential effects of COVID-19, and further statements followed in February and throughout March (for example, regarding virtual shareholder …
Risk Allocation for Economic Losses from Coronavirus Disease 2019
Coronavirus Disease 2019 (COVID-19) is causing unprecedented disruptions to the U.S. economy. Government officials and health professionals are predicting that these disruptions could continue through September. Businesses are having to face the challenges of operating remotely; many are cancelling non-essential travel – hampering long-planned meetings and conventions. Global supply chains are impeded as countries work to contain COVID-19’s spread.
While economic considerations are secondary to the protection of human health, they should not be ignored.…