On May 29th, 2020, Law No. 21,234 was enacted (the"New Law"), amending and replacing completely Law No. 20,009, which establishes the “Regime of limitation of liability for users, of unauthorized use of means of payment”, expanding its scope of application, establishing a new liability regime for and a new catalogue of conducts which constitute the criminal offence of “fraudulent use of payment cards and electronic transactions”. Modifies Law No ...
On June 3, 2020, the President of the Republic enacted the law that governs the financial portability, which was published in the Diario Oficial today, June 9, 2020 (the “Law”), whose main provisions can be summarized as follows: I. Scope The Law sets an inalienable right to the financial portability for the “Clients”, i.e ...
The National Energy Commission (“NEC”) issued on May 29, 2020 the Exempt Resolution No. 176 (“NEC ER 176”) that determines the scope on the exclusive business purpose and separate accountings of energy distribution companies, for the provision of the energy distribution public service according to what was set in Law No. 21,194. The NEC ER 176 was published in the Official Gazette on June 9, 2020 ...
Bogotá DC Mayor's Office is preparing a package of new measures for the city The Bogota City Hall has advanced a series of new measures in order to continue fighting the expansion of COVID-19. Particularly, the orange alert has been declared in the hospital system of Intensive Care Units, with which, the District Health Secretariat will give guidelines on patient care and will manage their referral to ICUs ...
Is the operation of PPP projects suspended? No. The State of National Emergency (in force from March 15 to June 30, 2020) has not affected the operation of PPP projects related to the provision of public and/or essential goods and services. Currently, it is also permitted to perform activities included in Phases 1 and 2 of the "Economic Reactivation Plan"(“Plan”) approved by the Central Government. See Exhibit I ...
Analysis of the changes to the special legal rules onthe credit and financing moratorium. Through Decree-Law 26/2020 of 16 June (“DL 26/2020”), the Government has approved, a set of amendments to the special rules onthe moratorium on financing approved by Decree-Law 10-J/2020 of26March ...
Although the data for San Francisco Bay Area remains encouraging for the first quarter of 2020*, given the economic instability brought by COVID-19, we might see more down rounds going forward. Down rounds are financings where the company is valued less than in a previous round. In practical terms this means that the new investors are buying shares of the company at a lesser price than the previous investors ...
Hand sanitiser production is just one aspect of business that's altered for £5bn industry, writes George Frier of Shepherd and Wedderburn The whisky industry continues to captivate consumers and entrepreneurs. Record exports continue and, within the sector, the emergence of new brands and the rejuvenation of existing brands demonstrate a vibrant sub-set of the Scottish food & drink economy ...
On 11 June 2020, the Discrimination Legislation (Miscellaneous Amendments) Bill 2018 (Bill) was passed at the Legislative Council. The Bill introduced amendments to Hong Kong’s four anti-discrimination legislations, namely the Sex Discrimination Ordinance (SDO), the Disability Discrimination Ordinance (DDO), the Family Status Discrimination Ordinance (FSDO), and the Race Discrimination Ordinance (RDO) (Amendments) ...
As seen in Bank Director The federal government has a history of assisting businesses when a crisis occurs, but one of its latest interventions may have created risk for bank partners providing aid ...
The Federal Reserve's Main Street Lending Program (the “MSLP”), which is designed to help credit flow to small and medium-sized businesses impacted by the COVID-19 pandemic, was officially launched today, Monday, June 15th. As a result, the MSLP is now open and ready for registration by lenders looking to participate in the program ...
In a highly anticipated decision, the U.S. Supreme Court held Title VII of the federal Civil Rights Act protects LGBTQ employees from being fired because of their sexual orientation or gender identity. The opinion, released on June 15, 2020, was a consolidation of three federal appellate court decisions—Bostock v. Clayton County; Altitude Express v. Zarda; and R.G. & G.R. Harris Funeral Homes v. Equal Employment Opportunity Commission ...
The Federal Communications Commission (“FCC”) established the COVID-19 Telehealth Program (the “Telehealth Program”) on April 2, 2020 in response to the COVID-19 pandemic. The Telehealth Program provides $200 million in funding, appropriated by Congress as part of the CARES Act,[1] to assist certain non-profit and public healthcare providers in making telehealth services available to patients who cannot be seen in person ...
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”), and the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”). Ttogether, the CARES Act1, PPPHCE Act, and PPP Flexibility Act are called the “CARES Act” ...
In a landmark decision issued today, the Supreme Court of the Unites States ruled that Title VII of the Civil Rights Act of 1964 prohibits workplace discrimination against gay, lesbian, and transgender people. The case involved consolidated lawsuits filed by two gay persons fired due to their sexual orientation and a transgender woman fired after revealing plans to transition from male to female ...
Last week, the U.S. Food and Drug Administration (FDA) issued guidance for the health care industry, titled “Temporary Policy on Prescription Drug Marketing Act Requirements for Distribution of Drug Samples During the COVID-19 Public Health Emergency ...
The United States Senate passed S. 945, the “Holding Foreign Companies Accountable Act” (the HFCAA), by unanimous consent on May 20, 2020. The HFCAA was first introduced in the Senate on March 28, 2019 by Senator John Kennedy (R-LA) and co-sponsored by Senator Chris Van Hollen (D-MD) ...
On 27 May 2020 the Federal Council adopted the Ordinance on Protecting against Cyber Risks (OPCy, available in French and German), which is set to enter into force on 1 July 2020. This move is the next step in a series of measures taken by the Federal Council to adopt a new organisational structure and implement a national strategy to protect Switzerland against cyber risks (NCS, available in German, French, Italian and English) ...
On June 10, 2020, the Occupational Safety and Health Administration (OSHA) released new guidance, in the form of frequently asked questions and answers, regarding the use of masks in the workplace.[1] The new guidance serves to help employers ensure employees know how to properly wear masks and which type of mask is appropriate. OSHA explains the difference between cloth face coverings, surgical masks, and respirators ...
Key Point The Federal Reserve has further revised the terms for the upcoming Main Street Lending Program in order to expand access to the program's three loan facilities The Federal Reserve announced on June 8, 2020, that it has revised key terms for its upcoming Main Street Lending Program to support small and medium-sized businesses, consisting of three loan facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Stree
As non-essential retail stores get set to re-open, we share below some key recommendations for suppliers to help minimise competition law risk over the coming weeks and months. Current market conditions are tempting some people to reach out to their counterparts at competitors – but any competitor contact needs to be managed carefully from a competition law perspective ...
Businesses affected by COVID-19 are frantically seeking help. Direct forms of assistance, such as the financial shield and standstill pay, are extremely popular. Meanwhile, another instrument of the Anti-Crisis Shield has begun operating recently, i.e. loan repayment guarantees granted by Bank Gospodarstwa Krajowego to medium-sized and large enterprises from the Liquidity Guarantee Fund ...
