COVID-19 is having a significant impact on businesses and the economy. Responding to this, the UK Government has unveiled new measures, alongside existing funding initiatives, to help businesses navigate this challenging time. We are regularly updating our COVID-19 business support measures guide as new guidance is published. This guide is designed to summarise these support measures and help you identify which are applicable to your business ...
The most general reason for setting up a trust is to ensure the effective and professional legal protection of assets. Contrary to a private foundation, there is no legal requirement to set forth a specific objective for the trust ...
On 20 May 2020, the State Administration of Foreign Exchange of China issued the Circular on Supporting the Development of New Forms of Trade (Circular). The Circular summarised previous pilot experiences and, established foreign exchange (forex) policies that are meant to optimise new forms of trade[1]. The Circular has been implemented since the date of its promulgation ...
On June 5, 2020, President Trump signed H.R.7010, the Paycheck Protection Program Flexibility Act of 2020 (the “PPPFA”). The PPPFA modifies the Paycheck Protection Program (“PPP”) to provide additional flexibility to borrowers in using PPP loan proceeds and obtaining forgiveness for their loans by the Small Business Administration (the “SBA”) ...
On June 4, the Consumer Financial Protection Bureau (CFPB) took steps to provide rules and guidance for the upcoming transition away from LIBOR for adjustable rate loans. The CFPB issued the following: A revised version of the CHARM booklet that is to be given to certain ARM loan mortgage loan applicants within three days of application ...
Following the agenda established within the Federal Government's Gradual Plan towards a New Normalization, the Mexican Institute of Industrial Property (MIIP) has published an agreement by means of which it extends the suspension of terms and deadlines with respect to all processes and procedures carried out before said Institute, as of March 24, 2020 and until the expected conditions for the restarting of activities of the MIIP are materialized ...
The Commission for the Financial Market (“ CMF ”), on May 28, 2020, has issued the Official Letter No. 22,260 (the “ Official Letter ”) in response to the pronouncement request sent by the Treasury Minister of the Chilean Government, Mr Ignacio Briones Rojas, to clarify the scope of the enforcement and the effects of the new article 30 of Law No. 21,227, which empowers the access to the unemployment insurance benefits provided in Law No ...
Issuers need to make transparent the effects of the COVID-19 pandemic on their companies. The International Organization of Securities Commissions (IOSCO) emphasized the importance and obligation of timely and transparent disclosure of “high-quality information” in a recent statement issued on May 29, 2020. It recalled the corresponding obligation for issuers to report on important matters and encourages companies to comply with their disclosure obligations ...
On March 28, 2020, the Act on Measures in Corporate, Cooperative, Association, Foundation, and Home Ownership Law to Combat the Effects of the COVID-19 Pandemic (COVID-19 Act) entered into effect. Among other things, the COVID-19 Act provides for substantial facilitations for stock corporations to hold general meetings. The most important innovation for use in practice is the possibility of holding general meetings entirely virtually, i.e ...
As an update to our April 24 alert, the United States Health and Human Services Department (“HHS”) has continued to provide a string of updates over the past month regarding the funds allocated to provide financial relief for eligible health care providers by the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act ...
On May 26, 2020, Ohio Governor Mike DeWine announced the formation of new Congregate Care Unified Response Teams to test residents and staff members in Ohio's nursing homes. Ohio Department of Health (“ODH”) Director Amy Acton, M.D., MPH, subsequently issued a Director’s Order on May 27, 2020 requiring all nursing homes to cooperate with this testing ...
The Centers for Medicare and Medicaid Services (CMS) announced on March 13, 2020 enhanced penalties for infection control survey non-compliance amid the COVID-19 pandemic.[1] On June 1, 2020, CMS announced significant changes related to nursing home surveys. The new changes require states to complete 100 percent of their Focused Infection Control nursing home surveys by July 31, 2020 ...
The Ohio House of Representatives has voted overwhelmingly in favor of House Bill 606, known as the “Good Samaritan Expansion Bill.” The bill grants temporary immunity from civil liability and professional disciplinary actions to a wide range of health care providers for injury, death, or damages arising from health care services rendered in response to the COVID-19 pandemic ...
Congress passed legislation amending the Paycheck Protection Program (“PPP”) in hopes of making the program more useful to small businesses. Prior to the amendment, the PPP required loan proceeds to be spent during an eight-week covered period for a loan to be eligible for forgiveness. Additionally, 75 percent of the proceeds had to be used on payroll costs, so only 25 percent could be spent on certain eligible non-payroll expenses (e.g ...
On June 2, 2020, Ohio Department of Health (ODH) Director Amy Acton, M.D., MPH, issued a new comprehensive order permitting all surgeries to resume, effective immediately ( Surgery Resumption Order). The Surgery Resumption Order is available here. We have previously written about the March 17, 2020 ODH order that cancelled all non-essential or elective surgeries and procedures that use personal protective equipment (PPE) ...
The technical guidelines described below are a follow up to the order establishing the strategy for the reopening and return to social, educational, and economic activities published on May 14, 2020, which was subsequently amended (the “Order”). Our alert on the Order and its amendment can be found here and here ...
Last year, United States Patent and Trademark Office (USPTO) Director Andrei Iancu noted that artificial intelligence (AI) has the potential to “fundamentally chang[e]” “the legal concepts of inventor or author.”[i] The USPTO recently had cause to consider this issue. On petition, the USPTO considered whether an applicant can name an AI program as an inventor on a patent application ...
The following are general considerations for health care employers who are strategizing their employees’ return to work. Note that each employer and health care environment is different and will need a specifically tailored plan. Further, there is a wealth of detailed guidance regarding various aspects of operating during the COVID-19 pandemic, including detailed guidance regarding proper PPE and patient treatment ...
The Substance Use Disorder Prevention that Promotes Opioid Recovery and Treatment for Patients and Communities Act (“SUPPORT Act”)[1] was enacted on October 24, 2018. Among other things, the SUPPORT Act amended the Physician Payments Sunshine Act (“Sunshine Act”)[2] to expand the definition of “covered recipients”[3] for payment tracking and reporting purposes ...
Federal and state government enforcers have been turning their focus to nursing homes, skilled nursing facilities, and other long-term care facilities. While this enforcement priority is not tied specifically to the COVID-19 pandemic, facilities can expect additional scrutiny as they are considered “ground zero” for infections ...
As states are beginning to open back up amid the COVID-19 pandemic, nursing homes and other long-term care facilities are still at the highest risk of infection and should continue to be cautious. One-third of all COVID-19 deaths are attributed to long-term care residents and workers.[1] Facilities need to take steps to manage the spread of the disease and protect their residents and staff as states begin to allow more flexibility around long-term care quarantine practices ...
The Circular 100-000010 of May 26, 2020 states the following deadlines: Deadlines for submission of financial statements at 31 December 2019 Last two digits of the NIT Maximum deadline for sending information in the year 2020 Last two digits of the NIT Maximum deadline for sending information in the year 2020 01-06 Wednesday 3, June 54- 59 Wednesday 17, June 07-12 Thursday 4, June
The state contribution for commercial rents to entrepreneurs with forcibly closed establishments is gaining more concrete outlines. If an entrepreneur negotiates a 30% discount on rent from his landlord, he will be able to apply for state support in the amount of 50% up to a ceiling of CZK 10 million for the period from April to June. However, the program has yet to be notified to the European Commission before it can be launched ...
Category B has been extended until the end of August 2020 and the government has approved a new form of support – Category C! Are you considering how to maintain employment of your employees and minimize economic losses? Take a look at what financial instruments the state has prepared for entrepreneurs whose employees have been affected, directly or indirectly, by government measures taken to combat coronavirus ...
