On July 31st the Federal Reserve posted amended versions of a number of Main Street Lending Program (MSLP) transaction documents, including the Frequently Asked Questions (FAQs) and Term Sheets for MSLP. Many of the changes reflect recent announcements, such as the expansion of the program to include the Nonprofit Organization New Loan Facility (NONLF) and the Nonprofit Organization Expanded Loan Facility (NOELF). Other changes, particularly to the FAQs, provide new guidance ...
This is a briefing on the issuances as of August 1, 2020 on the following matters in relation to the COVID-19 pandemic: A. General Community Quarantine (GCQ) over Metro Manila Again Extended until August 15, 2020 B. Department of Trade and Industry (DTI) Allows More Business Establishments to Operate During GCQ from August 1, 2020 A ...
The Insurance Commission (“IC”) of the Philippines has issued a circular letter dated June 14, 2020 on the adoption of a regulatory sandbox framework for the experimentation and testing of insurance technology innovations (IC Circular Letter No. 2020-73 (“ICL 2020-73”): “Guidelines on the Adoption of a Regulatory Sandbox Framework for Insurance Technology (InsurTech) Innovations).” The full text of Circular Letter No ...
The High Court has left the door open for a negligence claim to be pursued against a UK company on behalf of a shipyard worker who fell to his death dismantling an oil tanker at a Bangladeshi yard.1 The vessel had been sold to a buyer on terms requiring it to be scrapped in an environmentally sound manner and in accordance with good health and safety practices ...
Key Points The California Supreme Court clarified the so-called California Rule on public employee’s "vested rights" to pension benefits, holding that detrimental financial changes to employee pension benefits do not invariably require that offsetting comparable new advantages be provided. And it set a legal framework for analyzing that issue ...
On July 24, 2020, the California Department of Public Health issued a new guidance document for all employers within California, entitled “COVID-19 Employer Playbook For a Safe Reopening ...
For a long time, we have heard in different social media, for various reasons, some more positive than others, information related to Turnkey Contracts and the State indebtedness resulting from the Partial Payment Accounts (in Spanish, “Cuentas de Pago Parcial”) and Certificates of No Objection (in Spanish, “Certificados de No Objeción”) ...
On July 29, 2020, Governor Whitmer issued Executive Order Nos. 2020-160 and 2020-161. Executive Order 2020-160 replaces the prior executive orders that address stay home, stay safe restrictions in Michigan. In general, this Order moves the State to a more uniform approach to business operations and restrictions ...
Published in CEE Legal Matters “In terms of national politics, when it comes to Latvia, the word of the day is ‘stability,'“ says Raimonds Slaidins, Senior Partner at Ellex Klavins in Riga ...
Key Points Small employers (with fewer than 500 employees) and governmental employers who are required to provide employees with paid sick and expanded family leave related to COVID-19 are required to report the amounts paid on Form W-2. IRS guidance provides information about how to report paid leave on employees’ Forms W-2 ...
Key Points If finalized as proposed, a Department of Labor (DOL) proposed rule would require plan fiduciaries to select investments based solely on pecuniary factors. The proposed rule would also tighten conditions for treating environmental, social, and corporate governance (ESG) factors as pecuniary factors plan fiduciaries may consider in selecting investments ...
Key Points New proposal would allow investment advisors to provide advice to ERISA retirement plan participants for a fee, despite potential conflicts of interest. Reinstates five-part test from 1975 for determining when an investment advisor provides investment advice as a fiduciary to a plan participant. The U.S ...
Since the outbreak of the COVID-19 pandemic, local municipalities and state governments throughout the country have implemented stay-at-home orders and mandated closures of businesses and restaurants to lower the spread of the disease. California, after having permitted much of the state to reopen businesses, has seen a recent spike in COVID-19 cases and on July 13th implemented a new statewide order to curb the increase, reimposing certain business closures ...
On July 23, 2020, Arizona Governor Doug Ducey, Superintendent of Public Instruction Kathy Hoffman and Arizona Department of Health Services Director, Dr. Cara Christ held a news conference to discuss certain executive orders of the Governor regarding re-opening of Arizona businesses and public district and charter schools in Arizona ...
California’s cannabis-related businesses will face a dual battle in complying with Proposition 65 requiring businesses to warn the public about cancer-causing chemicals present in products they purchase, writes Buchalter’s Anne Marie Ellis. Businesses are going to have to change their labeling and packaging to list marijuana smoke as a reproductive toxicant and cancer causing agent ...
Key Points Participants in defined contribution retirement plans, such as 401(k), 401(a), 403(b), or governmental 457(b) plans, can skip their required minimum distribution (RMD) payments for 2020. If RMDs for 2020 have already been received, participants have until August 31, 2020 to rollover the RMD into an eligible retirement plan ...
Key Points New CEQ rule updating NEPA to go into effect September 14, 2020. Development and other projects funded, assisted, or regulated by federal agencies will receive less scrutiny in the future. Highlights The Council on Environmental Quality (CEQ) issued a final rule to update its regulations for federal agencies implementing the National Environmental Policy Act (NEPA) ...
The Food and Drug Administration (“FDA”) issued its Development and Licensure of Vaccines to Prevent COVID-19: Guidance for Industry on June 30, 2020. This nonbinding guidance is intended to remain in effect for the duration of the COVID-19 public health emergency declared by the Secretary of Health and Human Services. The guidance advises vaccine development and licensure following the standard trial progression but on an accelerated timeline ...
Companies subject to product liability lawsuits – and their counsel – know the importance of promptly examining whether the company is subject to general personal jurisdiction or specific personal jurisdiction of the forum court. A court with general personal jurisdiction over a defendant can hear any and all claims against that defendant. After the United States Supreme Court’s decisions in Daimler AG v. Bauman, 134 S. Ct 746 (2014) and BSNF Railway Co. v ...
Due to the COVID-19 outbreak, as of March 2020, Israel prohibited foreign nationals from any country from entering its borders, including citizens who held any kind of visa. Only foreign residents who could prove that their 'life centre' was in Israel could enter the country. In June 2020 the Population and Immigration Authority published a list of exceptional cases in which it will allow foreigners into the country ...
In April 2019, with the introduction of House Bill 904, a bi-partisan effort was made to strengthen cyber security in North Carolina. H.B ...
The Baden-Württemberg Commissioner for Data Protection and Freedom of Information (LfDI) has imposed a fine of €1,240,000 on the AOK Baden-Württemberg health insurance provider. The reason? Data processing errors related to prize draws it ran: the health insurance provider had not obtained the valid consent for data processing of prize draw entrants in 500 cases. An internal whistleblower notified the LfDI about the breach ...
The Canada Emergency Wage Subsidy (the "CEWS") Is a key component of the Government of Canada's COVID-19 economic response plan. The purpose of the CEWS, adopted on April 11, 2020, is to help Canadians keep their jobs during the crisis and help companies maintain an employment relationship with their employees in order to recover more quickly when the economy returns to normal ...
This is a briefing on the issuances as of July 22, 2020 on the following matters in relation to the COVID-19 pandemic: A. Intellectual Property Office (IPOPHL) Suspends Services at its Main Office from July 20 to 27, and Extends Deadlines B. BIR Amends Reportorial Requirements of Banks and Other Lenders that Granted a Grace Period on Loans that were due during the Enhanced Community Quarantine C. New Bureau of Internal Revenue (BIR) Form for Related Party Transactions A ...
