COVID-19 related Executive Orders from Governor Newsom and shelter-in-place orders from County Health Officers in the Bay Area have restricted construction activities during this healthcare emergency. These restrictions apply to private projects and public works construction projects, although public works projects have broader flexibility to proceed. This alert will summarize how public works projects in the Bay Area can continue under the current orders ...
Short-time work compensation is a crucial component of the governmental COVID-19 rescue package for Swiss economy. The Swiss Federal Council in this context has recently enacted several formal facilitations and expanded the circle of entitled employees. Nevertheless, the requirement of obtaining the employees’ consent to short-time work remains central in several aspects. Read the entire article below ...
What is its purpose? Decree 558 seeks to adopt measures in the General Pension System in order to provide greater liquidity to employers, employees and independent contractors. It also seeks to protect pensioners under the programmed retirement scheme who receive a minimum monthly legal wage from a potential decapitalization of the pension savings accounts supporting the payment of their pension ...
The United States Department of Justice (DOJ) and the Federal Trade Commission (FTC) have made it clear that they will act to protect employees on the front lines of the battle against COVID-19. On the one hand, as we explained in a prior client alert, they previously announced pre-clearance procedures and other guidelines intended to make it easier for companies to collaborate in legitimate, pro-competitive ways ...
On April 14 and April 15, 2020, the Small Business Administration ("SBA") provided additional guidance on the Paycheck Protection Program (“PPP”) through the issuance of a new Interim Final Rule (the “New Rule”). This rule supplements the first PPP interim final rule published on April 2, 2020, as well as issuing updates to the Frequently Asked Questions document (“FAQs”) originally published on April 2, 2020 ...
The nearly global response to the spread of the deadly Coronavirus has led to governmental authorities at all levels issuing “stay-at-home orders,” “orders to close non-essential businesses,” and bans on gatherings of 10 people or more. The resulting shut-down, as well as the impact of widespread remote-working practices and displacement of personnel, may disrupt or interrupt trading and hedging activity ...
On April 13, 2020, Federal OSHA implemented its nterim Enforcement Response Plan for Coronavirus Disease 2019 (COVID-19)(“Enforcement Plan”), which provides instructions and guidance to Area Offices and OSHA investigators for handling COVID-19-related complaints, referrals, and severe illness reports ...
The Government of Serbia adopted the Regulation on the Procedure for Issuance of Debt Securities (“Regulation”). This is one of the economic measures presented to reduce the negative effects caused by the COVID-19 pandemic and an attempt to support the economy of Serbia. The Regulation entered into the force on 10 April 2020 ...
General questions with respect to the impact of extraordinary measures on contractual relations have been mentionedHERE, in relation to financing contracts there are certain specifics, the basic outline of which is set forth in this note ...
While stock exchanges worldwide have experienced dramatic downturns and the economy is apparently heading for a global recession, supervisory organs are taking measures to respond to the situation by means of financial market regulation ...
The set of several emergency measures of the Ministry of Health dated 23 March 2020 banned the retail sale of goods and services. It also banned the public presence at selected premises or selected times, prohibited the operation of certain premises, prohibited the free movement of persons or restricted the activities of public authorities and administrative bodies. On 26 March 2020 the Ministry of Health amended these measures ...
The current situation has a considerable impact on employment relations ...
In the face of the COVID-19 pandemic, Governor J.B. Pritzker has provided relief to Illinois consumers’ pocketbooks. On April 14, 2020, the Governor issued Executive Order in Response to COVID-19 No. 23 (“Executive Order 23”). The stated purpose of Executive Order 23 is to ensure that Illinois residents have funds for essential items such as food, medicine, housing, and transportation by temporarily suspending certain consumer debt collection measures ...
This is a summary in which we have briefly described the main regulations issued so far in Argentina during the COVID-19 health emergency that affect or are related to fintech and digital banking activities ...
Through this Circular, the Ministry of Work recalls that all employers are obligated to provide their employees with proper protection equipment with the safety and efficiency conditions required according to the risk´s nature ...
Adopted as part of the measures supporting enterprises in the context of the Covid-19 crisis, the ordinance n° 2020-306 of March 25th, 2020 contains the following temporary provisions applicable to contractual deadlines: SUSPENSION OF THE CONTRACTUAL STIPULATIONS SANCTIONING THE NON-PERFORMANCE OF AN OBLIGATION According to Article 4 of the ordinance: “Penalty payments, penalty clauses, termination clauses and acceleration clauses, the purpose of which is to sanction the non-
April 14, 2020, the SBA issued new guidance on the treatment of service partners for Payroll Protection Program (PPP) loans. The Interim Final Rule Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans clarifies that individuals treated as partners may not submit a separate PPP loan application as an "eligible self-employed individuals ...
In a major development to assist businesses with up to 10,000 employees or up to $2.5 billion of annual revenue which have been impacted by the COVID-19 pandemic, the Federal Reserve has issued Term Sheets for the two portions of the Main Street Lending Program created by the CARES Act, the Main Street New Loan Facility ("MSNLF"), and the Main Street Expanded Loan Facility ("MSELF") ...
On March 27, 2020, President Donald Trump signed into law the third major coronavirus-related legislation in the last several weeks – the Coronavirus Aid, Relief, and Economic Security (CARES) Act – in response to the pandemic and resulting economic crisis. The CARES Act includes substantial federal spending and loan commitments that will benefit individuals and businesses. But that is not all ...
On Friday, March 27, 2020, President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748, ( CARES Act or Act), a $2 trillion stimulus bill the House passed by voice vote earlier the same day and the Senate passed on Wednesday, March 25, by a vote of 96-0. The CARES Act is the largest economic relief package in the history of the United States ...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, provides $2 trillion in relief funds for individuals and businesses, including $500 billion in direct aid for large companies and more than $300 billion for small companies. Businesses applying for and receiving funds under the CARES Act should be mindful of risks associated with stringent government oversight and inevitable investigations targeting waste, fraud, and abuse ...
