The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 23, Series of 2020 (CDV Circular), dated August 18, 2020, which provides a regulatory framework for the creation and operation of Corporate Debt Vehicles (CDV). The circular aims to alleviate the adverse economic effects of the COVID-19 pandemic on large corporations and medium-sized enterprises by giving them another mode of raising capital through the intermediation of a mutual fund. 1 ...
As seen in Bank Director From lobby closures to Paycheck Protection Program loans, the COVID-19 pandemic has thrown a lot at banks and other financial services providers during this pandemic. One more item to add to the list is the Families First Coronavirus Response Act (FFCRA) ...
So, you want to start a hemp company in Alabama. You have your big idea and a business plan ready, but you begin to wonder whether you should be thinking about any legal issues as you get your company off the ground. That’s where we come in. Bradley’s Cannabis Industry team has a deep understanding of the many unique legal and business issues that impact hemp companies in Alabama and beyond ...
Over-indebted companies still exempted from filing duty until 31 December 2020COVID-19-affected companies to benefit from easier access to protective shield proceedings and preventive restructuring schemes/ regimes as from 1 January 2021 Two German legislative initiatives taken in September 2020 will have an immediate impact on the options available to restructure a business under German law: DUTY TO FILE FOR INSOLVENCY RE-INSTATED FOR ILLIQUID COMPANIES AS OF 1 OCTOBER 2020; SUSPENSIO
Key Points Starting Jan. 1, 2021, California skilled nursing facilities must have a full-time, dedicated Infection Preventionist. Infection Preventionists must be an RN or LVN, but their hours may not count in minimum direct patient care staffing calculations ...
This is to inform you that the Resolution of the Government of the Russian Federation dated October 01, 2020 No. 1587, has extended the moratorium on bankruptcy of companies, at the request of their credi-tors, until January 07, 2021. In this regard, we would like to draw your attention to the key provisions related to the moratorium re-gime and its extension. 1. Moratorium – the first results ...
The next state in our series exploring non-compete agreements is the Magnolia State, Mississippi. Unlike Texas and Louisiana, Mississippi’s noncompete laws are purely creatures of the common law. Mississippi has no statutory scheme in place governing covenants not to compete. For this chapter we are joined by my partners Justin Scott and Slates Veazey ...
Part 2 of this series is about data protection. In case of questions, please contact Zoltán Balázs Kovács. How do you secure data in the home office environment? What policies should be in place to secure data and devices? What does a data breach mean? Employers must comply with the principle of accountability and demonstrate compliance (including by way of applying proper internal policies). This is important also from the perspective of data security ...
An app that has captivated Generation Z with the ability to create and share videos has been dragged into the US-China power struggle, becoming its latest flashpoint. The current social media darling, TikTok, boasts 800 million active users. Reports value it at up to US$50 billion (S$68.4 billion). Considering that its Beijing-based app maker launched it worldwide only two years ago, that represents huge growth ...
SME Merger and Acquisition instruments exempt from stamp dutyThe Prime Minister announced that starting from 1 July 2020 until 30 June 2021, eligible SMEs will be exempted from paying stamp duty on instruments for Mergers & Acquisitions (“M&A instruments”), including Contracts or Agreements for sale or lease of properties (including land, building, machinery and equipment); Instrument of Transfer and Memorandum of Understanding; Loans or Financing Agreement; and First Tenancy
In this article, Lee Yuan Yao looks at the proposed disclosure requirements on beneficial ownership of shares in private companies under the proposed Companies (Amendment) Bill 2020.IntroductionOn 29 July 2020, the Companies Commission of Malaysia (“CCM”) released a consultative document seeking feedback on the proposed Companies (Amendment) Bill 2020 (“CA Bill 2020”) ...
THE POSITION BEFORE THE SEC STATEMENT The Security and Exchange Commission of Nigeria (the “SEC” or the “Commission”) on 14 September 2020, released their Statement on Digital Assets and their Classification and Treatment (the “Statement”) pursuant to the powers conferred on it by the Investment and Securities Act 2007[1](“ISA”) ...
Key Points Under the final regulations, the IRS can change the default rate of withholding applied to monthly pension or annuity payments simply by issuing new forms, instructions, or other guidance, rather than by having to issue new regulations. Plan administrators and annuity providers should consider making changes to their systems and processes to allow frequent changes to the default withholding rate for pension or annuity payments ...
On September 18th, 2020, the Federal Service for Surveillance in Healthcare (Roszdravnadzor) adopted a new Order approving the criteria for blocking the websites with the content infringing the healthcare regulations. The document establishes criteria for identifying and blocking websites that illegally sale or distribute content that forms a positive image of persons engaged in prohibited retail trade of medicines ...
For the financial services sector, 2020 was to be the year of rebuilding after the royal commission reckoning of 2018-2019. But with 2020 presenting circumstances that were previously unimaginable, the sector – like the entire Australian economy – has a whole new set of challenges to face… As 2020 ticks on, the financial services industry is grappling with new challenges presented by the COVID-19 pandemic and the subsequent economic downturn ...
How is taxable income determined in your state? To what extent is the state income tax base aligned with the federal income tax base? Alabama levies a corporate income tax on business entities classified as taxable or “C” corporations that have nexus with the state and are not classified as “financial institutions” or insurance companies subject to a separate premium license tax; and it levies a FIET on business entities classified as financial institutions havin
BAG, ruling dated May 13, 2020, 4 AZR 528/19 The employee's remuneration, referred to in an employment contract as "collectively agreed salary" is to be understood as a "dynamic reference clause". If a reference "to the collective agreements applicable for the Company" has been agreed upon in the employment contract, this reference is limited to the binding collective agreements applicable for the employer at the time the contract is concluded ...
Key Notes FDA announces flexible approach to enforcement of Nutrition and Supplement Facts labeling requirements for small food manufacturers and manufacturers of packaging for single-ingredient sugars, in part due to the impacts of COVID-19. The FDA adopted final rules updating the Nutrition and Supplement Facts1 labeling requirements (the “Rules”) that are effective on Jan ...
The Tax Court of Canada (the “Court”) recently upheld the deductibility of carrying charges incurred in connection with an issuance of shares. In so doing, the court upheld the tax benefits arising from a common financing practice. In addition, the Court reiterated the principle in tax matters according to which, save in exceptional cases, the legal relationships established by one or more taxpayers must be respected ...
Key Points Governor Newsom signed a new law establishing Brown Act rules for social media communications. Members of a legislative body may communicate on social media without fear of creating a serial meeting in violation of the Brown Act. Members of a legislative body may not respond directly on social media to other members of the same legislative body. On Sept.18, 2020, Governor Newson signed Assembly Bill (AB) 992 into law ...
