The Superintendence of Finance of Colombia (SFC) introduced, by means of External Circular 035 of December 27th, 2019, the automatic authorization of collaboration agreements for the promotion of foreign financial services or products entered into by a local stock brokerage firm or a local financial corporation and a foreign financial entity provided they comply with the following requirements ...
The COVID-19 pandemic is having immediate and longer term impacts on the global economy and M&A activity. The crisis has resulted in important changes to the policies, rules and processes to be applied by many foreign investment and competition regulators, including Australia's Foreign Investment Review Board (FIRB) and the Australian Competition and Consumer Commission (ACCC) ...
We have previously reported on the order that adopted the extraordinary measures under the COVID-19 health emergency declaration, published on March 31, 2020 (the “Order”), and the Technical Guidelines regarding certain essential activities described in Order, published on April 6, 2020 ...
Employers are now confronted with the next COVID-19 challenge: safely bringing employees back to work. The recent federal guidelines for “Opening Up America Again” specifically refer to recommended practices for employers ...
The Ministry of Home Affairs (“MHA”) issued an order on April 15, 2020 containing the revised consolidated guidelines on the measures to be taken by the Central and State Governments for containment of COVID 19 (“Revised Guidelines”). The order/ Revised Guidelines specify the economic activities which will be permitted after April 20, 2020 (except in containment zones) ...
The Michigan Economic Development Corporation has announced the Tech Startup Stabilization Fund—a $3 million fund that will provide capital and support for Michigan tech startups impacted by the COVID-19 pandemic. ID Ventures is administering the fund and accepting applications from tech startups across the state at TSSFund.com ...
Section 3513, one of the many provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), addresses the handling of most federal student loans. The CARES Act suspends all loan payments through September 30, 2020, for certain types of student loans made or held by the United States Department of Education: Federal Direct Stafford Loans, Federal Direct Parent PLUS Loans, Federal Direct Grad PLUS Loans, and Federal Direct Consolidation Loans ...
Amidst the rising number of mortgage loan forbearances due to COVID-19, Ginnie Mae has stepped in to limit the damage to issuers with its PTAP/C19 program. The CARES Act provides borrowers with temporary protections in light of the economic distress caused by COVID-19. The CARES Act, signed into law on March 27, 2020, includes a series of protections for borrowers whose financial security has been affected by the COVID-19 pandemic ...
It is difficult to capture in a sentence the impact the COVID-19 pandemic is having on our health, our families, our fears, the operations of businesses of all sizes, the world’s governments, and our future. Not one segment of people or group of businesses has reported the pandemic is not affecting them. It therefore should not come as a surprise that the reverse mortgage industry is feeling the effects of the pandemic ...
Federal appeals court gives effect to mortgage servicer’s disclaimers in monthly statements and letters and holds that homeowner is charged with carefully reading them and a basic level of understanding in what they say ...
Another week brings another round of COVID-19-related lawsuits. Even after a month, we already can identify some early trends: refund lawsuits and second amendment claims continue to boom. A rise in takings claims may signal another trend, or a recent adverse decision from the Pennsylvania Supreme Court may throw cold water on business owners and citizens’ efforts to be compensated for government-directed impacts ...
While the COVID-19 pandemic has led to the adoption of certain piecemeal consumer protection policies and/or guidances by individual states and the federal government, there have yet to be any sweeping changes to existing federal consumer debt collection laws or regulations in the wake of the pandemic. There has been a push, though, for the enactment of comprehensive consumer protection provisions ...
On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage payments due during the COVID-19 pandemic, beginning on April 1, 2020 and ending 30 days after the termination of the pandemic by the Federal Emergency Management Agency. The tenants and mortgagees would have no responsibility to ever make those payments ...
Another week brings another round of COVID-19-related lawsuits. Even after a month, we already can identify some early trends: refund lawsuits and second amendment claims continue to boom. A rise in takings claims may signal another trend, or a recent adverse decision from the Pennsylvania Supreme Court may throw cold water on business owners and citizens’ efforts to be compensated for government-directed impacts ...
We hope this Alert finds you and your family healthy and safe during these unsettling times. COVID-19 has interrupted all of our normal routines but has provided many of our clients with a unique opportunity to take a pause and review existing estate planning documents to make sure they are still accurate. We have received numerous calls and emails from clients asking us to update their documents and the choices they made in previous years ...
As part of a package of economic measures worth EUR 5.1 billion, the Serbian Government adopted a decree on 16 April 2020 establishing a guarantee scheme for loans to be provided by local banks to businesses to reduce the effects of the COVID-19 pandemic (the “COVID-19 Guarantee Scheme”) ...
The continuing COVID-19 pandemic has caused an unprecedented disruption of business worldwide, and many businesses and organisations will be scouring their current contracts to identify avenues of relief. In many cases, the pages containing the force majeure clause will be the first to be turned ...
Below is a summary of key new measures that have been implemented by various UAE authorities since 15 April 2020 and the time of this inBrief, 12:00 noon on Saturday, 18 April 2020. Dubai’s National Disinfection Programme extended On 17 April 2020, Dubai’s Supreme Committee of Crisis and Disaster Management extended the 24-hour National Disinfection Programme for another week. The programme, which began on 5 April 2020, was initially scheduled to end on 18 April 2020 ...
The Enduring Power of Attorney[1](“EPOA”), is an essential estate planning tool available in The Bahamas that is often overlooked. In the latest Legal Update, GT News & Insights Volume 2, Issue 2, GrahamThompson Partner Theo Burrows and Pupil Attorney Alexandria Newton, discuss the“Enduring Power of Attorney”in a piece that provides comprehensive responses to some of the most frequently asked questions ...
By means of Circular No ...
What is it? The Paycheck Protection Program (PPP) is a loan program geared toward small businesses dealing with the jarring disruptions caused by the novel coronavirus (COVID-19). It is a part of the larger $2 trillion CARES Act and run through the Small Business Administration. It provides $350 billion in loans to help businesses keep their workforce employed during COVID-19 crisis. Who can apply? The PPP provides loans to business with fewer than 500 employees ...
The Supreme Court this past week denied certiorari in United States ex rel. Schneider v. J.P. Morgan Chase Bank, N.A., an appeal from a D.C. Circuit case affirming the district court’s dismissal of a qui tam FCA action. See No. 19-678, 2020 U.S. LEXIS 2079 (Apr. 6, 2020). In so doing, the Court declined to address the emerging circuit split over the extent of the government’s dismissal power in qui tam cases ...
Overview On 1 April 2020, the Investment Coordinating Board (Badan Koordinasi Penanaman Modal – “BKPM”) issued BKPM Regulation No. 1 of 2020 on Guidelines on the Provision of Integrated Electronic Business Licensing Services (“BKPM Reg. 1/2020”).This regulation was issued to improve and streamline the licensing services provided through the Online Single Submission (“OSS”) System, to implement Article 94 (1) of Government Regulation No ...
On 17 October 2019, the Indonesian Commission for the Supervision of Business Competition (“KPPU”) issued KPPU Regulation No. 4 of 2019 on The Procedure for Supervising and the Management of Partnership Cases (“KPPU Reg. 4/2019”) which revoked several previous KPPU regulations, i.e. KPPU Regulation No. 1 of 2017 on The Procedure for the Management of Partnership Cases (as amended) (“KPPU Reg. 1/2017”), and KPPU Regulation No ...
