On May 20, 2020, the Office of the Comptroller of the Currency (OCC) issued as new final rule updating various aspects of the requirements of the Community Reinvestment Act (CRA). The rule is effective on October 1, 2020. Banks regulated by the OCC must comply with the final amendments by October 1, 2020, January 1, 2023, or January 1, 2024, as applicable ...
On May 22, Treasury issued a new Interim Final Rule (“IFR”) regarding Small Business Administration (“SBA”) Payroll Protection Program (”PPP”) loan forgiveness. Much of the IFR repeats information previously published by Treasury and SBA in the loan forgiveness form application and accompanying instructions. See March 19, 2020 Buchalter Client Alert COVID-19: Treasury Issues Application for SBA PPP Loan Forgiveness ...
As more workers begin to return to the workplace, it is expected that there will be an increase in the number of lawsuits related to employee contraction of the virus in the workplace. While the general rule in most states is that the workers’ compensation system provides the exclusive remedy for work-related injuries and illnesses, claimants and their attorneys are eyeing exceptions to the workers’ compensation system in order to maximize their potential recovery ...
The last two years have seen an expansion of regulations related to Foreign Direct Investment (FDI), both in the United States and abroad. COVID-19 is driving further expansion of FDI in the U.S. and elsewhere. Owners and investors need to know — expansion of regulations gaps closed in national security reviews new inclusion of medical supplies and food non-controlling investments also scrutinized Whether by intent or coincidence, the U.S ...
Key Points City council and planning commission recusals can have a significant impact on the outcome of hearings involving land use and environmental issues. Recusals can lead to tie votes or the loss of a quorum, which may make it impossible for local governments to approve development projects. In some circumstances, an elected or appointed official’s failure to recuse can be grounds for reversing local government decisions ...
Key Points City council and planning commission recusals can have a significant impact on the outcome of hearings involving land use and environmental issues. Recusals can lead to tie votes or the loss of a quorum, which may make it impossible for local governments to approve development projects. Failing to disclose conflicts of interests can be grounds for reversing local government approvals ...
This eighth edition of Unprecedented, our weekly update on COVID-19-related litigation, follows what we hope was a restful and meaningful Memorial Day weekend. For the third week in a row, shutdown challenges, workers' compensation claims, and wrongful death lawsuits have dominated the news cycle. But, we are also seeing a continuation in refund claims and an uptick in fraud claims involving everything from alleged misuse of sick days to corporate press releases ...
The curve has flattened, and all fifty states are at least partially reopened. This raises a number of questions about how your facility should proceed with reopening while continuing to protect not only your residents' health, but also their rights. Both failing to meet recommended guidelines and exceeding the guidelines can leave your facility vulnerable for future governmental action and lawsuits ...
Guatemala dawns today with the validity of a law, contained in the Decree 15-2020, extremely harmful for the country, the economy, the industry and legal certainty, and in violation of the Constitution. This law allows for the possibility of not paying certain basic services (water, cable, telephony, power [sic] (electric power) and internet) by the users, and imposes the obligation to public and private supplier companies not to suspend, under any circumstances, their provision ...
The landmark CARES Act, signed into law by the President on March 27, provides many employers with several options to increase liquidity and cash flow during the time of the COVID-19 pandemic. And only 9 days before that legislation was enacted, the Families First Coronavirus Response Act (FFCRA) also created two other payroll tax-related incentives for certain employers, and to self-employed individuals ...
In early April, the United States approved the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) authorizing $349 billion in a small business lending program called the Paycheck Protection Program (“PPP”). Depleted within days by the overwhelming response from businesses across the country, Congress authorized an additional $310 billion for this program on April 23. With government money, however, comes government oversight ...
On May 14, 2020, San Francisco Mayor London Breed issued a second extension of the City’s commercial eviction moratorium and rent deferral program for small businesses with less than $25 Million in 2019 gross receipts. The extension grants rent relief for rent due and payable through June 16, 2020. On April 15, 2020, Mayor Breed previously extended the original order through May 17, 2020 ...
State and local governments throughout the nation are struggling to address the financial impact of the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, enacted by Congress on March 28, 2020 appears to provide insufficient funding, and many state and local governments need more federal financial assistance ...
The Department of Labor and Employment (“DOLE”) issued Labor Advisory Nos. 17 and 18 dated 16 May 2020 containing guidelines on employment preservation upon the resumption of business operations as well as guidelines on the cost of COVID-19 prevention and control measures, respectively. Read the analysis of DFDL’s collaborating firm in the Philippines, Ocampo & Suralvo Law Offices, now: Contact View More
The government has rolled out a series of measures to relieve the economic impact brought about by the COVID-19 pandemic. Introduced under the second round Anti-epidemic Fund, the Employment Support Scheme (ESS) has come under the spotlight as it aims to provide wage subsidies to employers against their undertaking to spend all subsidies on paying wages to their employees and not to implement redundancy during the subsidy period ...
On 18 May 2020, the UAE government announced the following timings with effect from today, 20 May 2020: the National Disinfection Programme will take place between 08:00pm (not 10:00pm) to 06:00am the following day. working hours of butchers, mills and cafes will be from 06:00am to 08:00pm. commercial centres and malls will be open from 09:00am to 07:00pm (with new opening hours to be announced after the upcoming Eid ...
State Attorneys General across the nation are warning consumers about price gouging during the COVID-19 pandemic and offering easy online tools to report violations. Consumers have gotten the message. Texans, for example, have sent over 10,000 complaints of price gouging to the state AG’s office during the pandemic.1 Price gouging laws have been enacted by nearly 75 percent of states ...
As healthcare providers respond to increased demands on supplies and resources due to the COVID-19 pandemic, regulators have issued certain flexibilities and guidance in responding to the public health emergency. The following guide and frequently asked questions are designed to address some of the more common issues and questions that providers face. As always, legal advice is fact-sensitive ...
Despite the restrictions on activity affecting Hong Kong since the beginning of the year, there have been several enforcement cases reported which can provide some useful lessons or reminders for intermediaries. Approvals involve due diligence A requirement for approval for a transaction indicates that the transaction is unusual or involves material risk ...
In a recent enforcement action, the Securities and Futures Commission (SFC) issued a public reprimand and a HK$19.6 million fine to a licensed corporation (LC) for a range of breaches and internal control shortcomings, including failures relating to: 1. AML 2. Authorisation for transactions 3. Record keeping 4. Handling of client complaints 5. Telephone recording 6. Margin lending 7 ...
On 7 May 2020, the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) jointly issued the Regulations on Funds of Securities and Futures Investment by Foreign Institutional Investors (PBOC & SAFE Announcement [2020] No. 2, the New Regulations available here in Chinese), and the Policy Q&A No.1 clarifying certain details in the New Regulations (available here in Chinese). The official implementation date for the New Regulations is 6 June 2020 ...
