SEC “Harmonizes” Exempt Offering Framework
Buchalter, November 2020
On November 2, 2020, the Securities and Exchange Commission voted to harmonize, simplify, and improve the current tangled framework for exempt securities offerings, a move intended to promote capital formation and expand investment opportunities while preserving or improving important investor protections. Under SEC requirements, all securities offerings must be either registered with the SEC or qualify for an exemption from registration...
Buchalter COVID-19 Client Alert: New PPP Guidance Simplifies Forgiveness Application Process for Small PPP Loans of $50,000 or Less; Clarifies Lenders’ Responsibilities Regarding Review of Borrower Calculations and Documentation of Forgivable Eligible Costs for Such Small Loans
Buchalter, October 2020
On October 8, Treasury issued a new Interim Final Rule Re Additional Revisions to Loan Forgiveness and Loan Review Procedures Interim Final Rules (new IFR), along with a new Loan Forgiveness Application Form 3508S and Instructions for the new Form, addressing applications for forgiveness of PPP loans of $50,000 or less. Links to the new IFR, the new Form 3508S, and the new Instructions for Form 3508S are set out below...
Buchalter COVID-19 Client Alert: SBA Issues New PPP Guidance Regarding Required Approval for a Sale of Assets or Transfer of Ownership of a PPP Borrower; Use of Escrow Accounts to Avoid Requirement of Prior SBA Approval
Buchalter, October 2020
On October 2, the SBA issued SBA Procedural Notice 5000-20057, Paycheck Protection Program Loans and Changes of Ownership (“Notice”). A link to the Notice is set out below...
Additional Articles
- Buchalter COVID-19 Client Alert: New Treasury PPP Rules Clarify Recent Changes to PPP Program, Extend Time to Obtain a PPP Loan to March 31, 2021
- Buchalter COVID-19 Client Alert: New PPP Changes in the Stimulus Bill: Second PPP Loan for Hardest-Hit Existing PPP Borrowers, Additional Categories of Forgivable Expenses, Tax Deductibility for Expenses Paid with PPP Proceeds, Lender Liability Limitations, Simplified Forgiveness Application for Loans of $150,000 or Less, and Other Changes
- SEC “Harmonizes” Exempt Offering Framework
- Buchalter COVID-19 Client Alert: New PPP Guidance Simplifies Forgiveness Application Process for Small PPP Loans of $50,000 or Less; Clarifies Lenders’ Responsibilities Regarding Review of Borrower Calculations and Documentation of Forgivable Eligible Costs for Such Small Loans
- Buchalter COVID-19 Client Alert: SBA Issues New PPP Guidance Regarding Required Approval for a Sale of Assets or Transfer of Ownership of a PPP Borrower; Use of Escrow Accounts to Avoid Requirement of Prior SBA Approval
- Buchalter COVID-19 Client Alert: Entrapment-by-Estoppel: A Potential Future Defense for Lenders in PPP Fraud Cases
- SEC Amends Definition of Accredited Investor
- Buchalter COVID-19 Client Alert: Lenders May Submit PPP Forgiveness Applications to SBA on August 10; SBA Issues New Procedural Notice with Guidance for Lender Forgiveness Review/Submission
- Buchalter COVID-19 Client Alert: Congress Passes Extension of PPP Loan Origination to August 8 and Sends to President Trump
- Buchalter COVID-19 Client Alert: Treasury Issues New PPP Interim Final Rule, and Revised Long Form and New Short Form EZ Forgiveness Application and Instructions
- Buchalter COVID-19 Client Alert: PPP Flexibility Act is Enacted
- Buchalter COVID-19 Client Alert: PPP Flexibility Act Passes House, Likely Vote in Senate Next Week
- Buchalter COVID-19 Client Alert: (UPDATE) PPP Eligibility: Counting Non-U.S. Employees of Foreign Affiliates
- Buchalter Client Alert COVID-19: Treasury Issues Application for SBA PPP Loan Forgiveness
- Buchalter Client Alert COVID-19: Annual Shareholder Meetings in the Time of Coronavirus
- I’m Clearly Not in Los Angeles Any More…
- Nonlegal Considerations in Client Relations
- Understanding the Information Contained in EDGAR Filings
- An Annotated Form of Investment Banking Engagement Letter
- Performance of Due Diligence in Transactions
© Buchalter, 2021