How can undertakings access state aid and under what conditions can the state grant this aid? Concept of state aid State aid is any economic or financial support granted by the state, or from state resources, that gives an undertaking a selective advantage which may affect trade between Member States. State aid is, in principle, prohibited. Therefore, it must be notified to the European Commission in order for it to decide whether it is compatible with the internal market ...
Analysts predict that the Philippine economy may contract by as high as 9% in the second quarter of 2020 ...
In a split decision with far-reaching implications for both government contractors and the private bar, the U.S. Court of Appeals for the Federal Circuit, in Inserso Corporation v. U.S., recently addressed timeliness and waiver issues in the bid protest context. The facts of this significant case, the majority and dissenting opinions, as well as key takeaways for federal contractors and their attorneys, are discussed below. The Facts The U.S ...
On June 18, 2020, the Supreme Court of the United States ruled that the Department of Homeland Security (DHS) did not follow appropriate administrative procedures to terminate the Deferred Action for Childhood Arrivals (DACA) program and, therefore, was unauthorized to do so. The decision was a 5-4 ruling, written by Chief Justice John Roberts and joined by Justices Ruth Bader Ginsburg, Elena Kagan, Stephen Breyer and Sonia Sotomayor ...
On June 16, 2020 the German government released its Corona-Warn-App. There are some key points employers should be aware of concerning the app: NO OBLIGATION FOR EMPLOYEES TO USE THE APP ON THEIR PERSONAL SMARTPHONES An employer may be thinking about instructing its employees to install and use the Corona-Warn-App on their own devices to reduce the infection risk among its employees. That is not permitted ...
The Covid-19 outbreak is not only a huge challenge for health care, but also has enormous consequences for the economy. Different sectors (such as the hospitality, tourism and transport sectors and many others) will not be able to overcome the difficult times that we are currently facing without public support. Many Member States have already adopted exceptional aid measures and many more will follow, but public support for undertakings must still comply with the EU State aid rules ...
In a significant move for mortgage servicers and mortgage loan borrowers impacted by the COVID-19 pandemic, the CFPB issued an interim final rule this week that will, among other things, enable servicers to offer a payment deferral option ...
The Commission for the Financial Market (“CMF”), issued the General Rule No. 443, dated June 15, 2020 (the “NCG 443”), in order to establish the requirements to temporarily exempt from the presentation of certain documentation in the applications for registration of public offers of securities, and to permanently amend the General Rule No ...
The U.S. Copyright Office has issued a final regulation (37 CFR §202.4) permitting a single, “group” registration for “Short Online Literary Works.” To be eligible, each of the works included in the registration “must be published as part of a website or online platform, including online newspapers, social media websites, and social networking platforms ...
Report of the Department of Banks and Financial Institutions Health Emergency - BCRA Communication “A” 7048: adjustments to the national payment system. Yesterday, the Central Bank of the Argentine Republic (BCRA) issued Communication "A" 7048 (the " Communication "), through which certain adjustments were established on the national payment system. The Communication was issued in accordance with the provisions of Decree No ...
We understand how family and personal circumstances underpin everything else, and so this webinar discussed issues to do with health, money and moving home. The takeaway points from the webinar are set out below. Documents to have in place Increase in people putting Wills in place since the pandemic and we anticipate this continuing with a potential second spike on the horizon. Your Will is a key document to make sure that your wishes are followed on death ...
Effective June 24, 2020, a new executive order from President Donald Trump will go into effect, limiting the entry of certain categories of foreign nationals to the U.S. through December 31, 2020 ostensibly to protect the U.S. labor market as it recovers from COVID-19. The order focuses on suspending and limiting entry of foreign nationals who are currently outside of the U.S ...
In response to the financial impact of COVID-19 on local governments within the State of Ohio (State), the Ohio Office of the Treasurer has introduced the COVID-19 Response Initiative (Initiative). The purpose of the Initiative is to provide liquidity to local governments by accelerating fiscal year cash flows and easing revenue shortfalls as a result of COVID-19 ...
Key Points IRS guidance expands the definition of “qualified individual” for receiving a tax-favored coronavirus-related distribution (“CRD”) from a retirement plan and other plan changes under the CARES Act. The guidance confirms that plan changes under the CARES Act are optional, including the loan repayment delay, and provides a safe harbor method for implementing the loan repayment delay ...
Five months into its Covid-19 pandemic period, Hong Kong seems to have settled into a new “normal” mode of operating, while many other regions still face devastating challenges and live in fear of a “second peak”. Remote regulatory inspections The SFC is busy again conducting routine inspections, even though they are not actually “knocking at your door” this time round ...
Key Points Title VII prohibits discrimination based on sexual orientation and gender identity. The holding does not change currently-existing legal obligations for California employers as discrimination based on sexual orientation and gender identity is prohibited under the FEHA. California employers should ensure they are complying with FEHA’s posting and training requirements. On Monday, June 15, 2020, the U.S. Supreme Court published a long-awaited opinion, Bostock v ...
Key Points Before undertaking a stock option repricing program, consider the tax impact on employees holding incentive stock options (ISOs) Additionally, consider the corporate and securities laws that govern repricing programs Introduction Stock options are a vital form of compensation at a wide range of privately-held companies.1 Stock options are intended to motivate employees to drive stockholder value and are used as an employee retention tool ...
On June 20th., it was published Law N°21.240, bill which was approved last Wednesday 17th by the Congress. The New Law increases sanctions for the infringement of quarantines and sets forth responsibility for Employees and Legal Entities. Article 318 of the Criminal Code punishes anyone who “jeopardizes public health by the infringement of hygienic and sanitary norms properly published by the authority, in the context of a catastrophe, pandemic or contagion ...
On June 16, 2020, the Securities and Exchange Commission announced a Temporary Conditional Exemption for municipal advisors (MAs), which provides an exemption from certain broker registration requirements under Section 15 of the Securities Exchange Act of 1934. This order is in response to the disruption in the municipal securities markets resulting from the COVID-19 pandemic ...
Following up on Dykema’s alert from June 18, 2020, President Trump signed a Proclamation that extends his April 22, 2020, 60-day ban on immigrant workers entering the United States until December 31, 2020. In addition, it also added those with H-1B, H-2B, L-1 and J-1 visas and any foreign national accompanying them to this ban. The Proclamation states this was done to address, in part, high unemployment levels due to the coronavirus pandemic ...
Vietnam, a country of 97 million people, has been widely recognized for its successful handling of the novel coronavirus outbreak. On January 27, as the country celebrated the Lunar New Year holiday, Prime Minister Nguyen Xuan Phuc declared war on the coronavirus, having said "fighting this epidemic is like fighting the enemy". The Prime Minister and his cabinet acted expediently in controlling the spread of the virus ...
On 14 May 2020, the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange (SAFE) unveiled the Opinions on Providing Financial Support for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area (together the Opinions, available here in Chinese). The Opinions propose 26 measures to implement the following policy goals: 1 ...
