The Securities and Exchange Commission (SEC) recently adopted a new amendment that adds additional categories of persons eligible to meet the accredited investor definition, expanding the pool of capital available to the private capital markets. Background Under the Securities Act of 1933 (Act”), offerings for the sale of securities must be registered with the SEC ...
Presidential Decree no. 229/20 of 8 September 2020 has been published and its aim is to reassess the measures imposed by Presidential Decree no. 142/20, considering the evolution of the epidemiological situation. The new decree renews most of the measures already in force, although it also eases some restrictions ...
By: Michael Flynn and Melissa Richards Introduction California has enacted a new California Consumer Protection Law (CCFPL), California Financial Code Section 90001 et seq. The CCFPL will convert the Department of Business Oversight (DBO) into a new Department of Financial Protection and Innovation (DFPI). AB 1864 was sent to the California Governor on September 4, 2020 for signature, and he is expected to sign within thirty (30) days ...
Key Points California Legislature passes SB 288, which adds statutory CEQA exemptions for bicycle and mass transit projects. Extends CEQA Exemption for bicycle-related highway projects from Jan. 1, 2021 to Jan. 1, 2030. Relates only to projects for which the lead agency and the entity carrying out the project are public agencies. The California Legislature passed SB 288 on Aug. 31, 2020 ...
Key Points On Aug. 25, 2020, the Centers for Medicare and Medicaid Services (CMS) published an interim final rule with a comment period (IFC) establishing new Long-Term Care Facility COVID-19 Testing Requirements for Staff and Residents. CMS has added 42 CFR §483.80(h), which requires that the facility test all residents and staff for COVID-19. Noncompliance related to this new requirement will be cited at new tag F886 ...
Whistleblower complaints to the Occupational Safety and Health Administration (OSHA) have continued to rise during the COVID-19 pandemic. Between February 18, 2020, and May 31, 2020, a total of 4,101 whistleblower complaints were filed,[1] which represented a 30% increase in complaints over the same period last year ...
The Sixth Circuit Court of Appeals has limited the use of “special remedies” by the National Labor Relations Board (NLRB or Board) in a 3-0 decision issued on Sept. 4, 2020.[1] On April 4, 2019, the NLRB ordered the employer to remedy unfair labor practices committed during a union organizational drive.[2] As part of that decision, the Board refused to enforce a Gissel bargaining order that would have compelled the employer to recognize and bargain with the union ...
On Thursday, August 13, the California Judicial Council elected to rescind Emergency Rules 1 and 2 related to eviction and foreclosure actions in California applicable to both residential and commercial properties, effective September 1, 2020. Emergency Rules 1 and 2, previously put in place on April 6, prevented all unlawful detainer and foreclosure actions statewide, except in cases of public health or safety ...
Coronavirus Digest no. 4 Patents and other intellectual property rights 1. Patents Moderna reveals that it may not hold the patent rights for the vaccine against Covid-19, because it was not the first to file the patents. This came after the US National Institute of Health claimed co-ownership of the rights to this vaccine. Read more here ...
On 12 August 2020, the Ministry of Commerce released via Circular the State Council approved Master Plan for the Comprehensive Deepening of the Pilot Programme for the Innovative Development of the Trade in Services together with a schedule of specific measures (2020 Plan). The 2020 Plan includes 8 pilot tasks and 122 specific measures to open, facilitate and support the innovative development of the Trade in Services ...
INTRODUCTION Information Communication Technology (ICT) has, without a doubt, greatly impacted virtually every industry, and the communications industry is no exception. Services such as bulk short message service (SMS), online games, data services, telemarketing, text messages and media messages, all of which are often referred to as Value Added Services (“VAS”), now constitute a part of our daily lives ...
On September 2, 2020, we issued an e-alert discussing the deferral of the employee portion of Social Security taxes (“SS Tax Deferral Program”), as directed by the Presidential Memorandum dated August 28, 2020, and as implemented by the Internal Revenue Service (“IRS”) pursuant to Notice 2020-65 (“Notice”) issued on August 28, 2020 ...
On August 8, 2020, the President of the United States issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority pursuant to section 7508A of the Internal Revenue Code to defer the withholding, deposit, and payment of certain payroll tax obligations for the remainder of 2020. In Notice 2020-65, the IRS provides guidance implementing the payroll tax deferral. What wages are eligible? Eligibility is subject to income limits ...
Key Points HHS Provider Relief Fund payments are being extended to private pay assisted living facilities under Phase II. Relief will be equal to 2 percent of annual gross revenue from resident care. Interested providers must act swiftly: the deadline to submit basic information to HHS is Sept. 13 Provider relief funds need not be repaid if recipients comply with the program criteria. HHS Announcement: On Sept.1, the U.S ...
Income tax The following public rulings and guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website: i. Tax Treatment of Research and Development Expenditure Part I – Qualifying Research and Development Activity (Public Ruling No. 5/2020) issued on 13 August 2020; ii. Tax Treatment of Research and Development Expenditure Part II – Special Deductions (Public Ruling No. 6/2020) issued on 13 August 2020; iii ...
On August 13, 2020, President Trump issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority to defer the withholding, deposit and payment of the employee portion of Social Security taxes (“SS Tax Deferral Program”). On August 28, 2020, the Secretary of the Treasury and IRS issued Notice 2020-65 (“Notice”) to implement the SS Tax Deferral Program ...
Law 58/2020 came into force on 1 September 2020 and it implements into Portuguese law: Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for money laundering or terrorist financing, commonly known as the 5th Anti-Money Laundering Directive; and Directive (EU) 2018/1673 of the European Parliament and the Council of 23 October 2018 on combating money laundering by criminal l
Key Points New California law prohibits residential evictions based on the non-payment of rent and other fees due between Mar. 1, 2020, and Jan. 31, 2021, if failure to pay is due to COVID-19 related distress. California courts may not issue summonses in any residential unlawful detainer actions based on non-payment until Oct. 5, 2020. New Order from the Centers for Disease Control and Prevention halts evictions for tenants who meet specific requirements through Dec. 31, 2020 ...
Following President Trump’s Aug. 8 presidential memorandum directing the Treasury Secretary to defer the withholding and payment of certain employee payroll taxes, the Internal Revenue Service released Notice 2020-65 on Aug. 28 The two-page notice gives necessary but sparse guidance on implementing the Presidential Memorandum ...
The Department of Labor has updated its list of FAQs about the Families First Coronavirus Response Act (“FFCRA”) to address when employees would be eligible for Emergency FMLA leave when the employee’s child’s school is operating on a remote or hybrid learning schedule ...
The popularity of smokable hemp has rapidly increased since the 2018 Farm Bill legalized hemp at the federal level. But the Farm Bill allows states to regulate hemp production in ways “more stringent” than federal law, and some states have used this leeway to ban smokable hemp to some degree. The result is a patchwork of state laws regarding smokable hemp’s legality, adding complexity to a legal landscape that was already nuanced enough ...
A wastewater facility on the island of Maui, Hawaii, collects sewage, treats it, and pumps the treated water through underground wells. The water then travels half a mile, through groundwater, into the Pacific Ocean. Must the facility possess an EPA permit to do this? In April, the Supreme Court of the United States answered this question with a rather drawn-out "maybe ...
Key Points A permitting agency's blanket designation of an entire category of permit decisions as ministerial for purposes of the California Environmental Quality Act (CEQA) may be held to be improper if the agency has the ability to modify or deny the permit based on any concern that may be examined under CEQA review. Courts will afford a larger degree of deference to an agency’s designation of a single permit decision as ministerial on a case-by-case basis ...
At the beginning of astartup’slife,the use of financial resources in the most efficient way is of vital importance.It is for this reasonthatthe incentives that a country can provide to an entrepreneurand hisnewlyformed company can potentially determine how and how much that company willgrow ...
