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 ...
The sale of a business is often the most significant business transaction in an entrepreneur's life. In addition, the net proceeds from such a sale often represent an entrepreneur's only retirement fund. Therefore, it is crucial to maximize such proceeds by reducing or deferring the taxes resulting from the transaction as much as possible ...
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 ...
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 ...
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 ...
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 ...
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 ...
Free way to different sports disciplines, among them, the practice of Golf. The Ministry of Sports issued Resolution 632 of 2020, approving the specific biosafety protocol for playing Golf that was presented by the Colombian Golf Federation. The protocol describes the measures that the clubs must implement on the golf courses for their reopening, for recreational practice, and exclusively covers the complex of facilities inherent in a standard golf course ...
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 ...
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 ...
Hong Kong’s Mandatory Provident Fund Schemes Authority (MPFA) has recently issued two sets of revised guidelines: III.2 Guidelines on Equities and Other Securities (Guideline III.2) and III.14 Guidelines on Default Investment Strategy (Guideline III.14). The revisions enable greater flexibility in investment in real estate investment funds (REITs). The revised Guideline III ...
The Securities and Futures Commission (SFC) issued its Consultation Conclusions on the OTC derivatives regime for Hong Kong – Proposed refinements to the scope of regulated activities and competence requirements under the OTC derivatives licensing regime (Conclusions) on 10 June 2020 ...
The Fintech LandscapeDevelopments in 2019 in terms of sectors were:Payments: Remittance was an area of significant growth in 2019, with a number of notable non-bank payments service providers receiving Remittance (Class B) Licences from Bank Negara Malaysia (BNM). MoneyMatch, the first graduate from BNM’s Regulatory Sandbox programme for incubating and ensuring the sustainability and regulatory compliance of fintech start-ups, was the first to receive a licence at the start of the year ...
Contracts and force majeure during a pandemic was published recently in the Indian Business Law Journal authored by Chandrasekhar Tampi, senior partner and Ankur Khandelwal, partner, Kochhar & Co. Overview- The spread of COVID-19 has raised multiple questions with respect to performance of commercial contracts, across the globe. While some contracts have witnessed the erosion of their foundation, others have been rendered difficult, even possible, to be performed ...
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 ...
This 12th edition of Unprecedented, our weekly update on COVID-19-related litigation brings new developments in labor and employment cases, consumer protection cases, and civil rights litigation. Price gouging and fraud for personal protective equipment (particularly N95 masks) remain major focuses, with manufacturers, retailers, and governments all taking action ...
On June 10, 2020, the NASAA Franchise and Business Opportunity Project Group (“NASAA Franchise Project Group”) issued a statement on the importance of accurately disclosing financial performance representations amidst the worldwide impact of COVID-19 ...
To implement the changes to the PPP program contained in the recently enacted PPP Flexibility Act, Treasury has issued a new Interim Final Rule (IFR). It has also issued a revised forgiveness application form, worksheet and instructions, and a new expedited (EZ) forgiveness application form and instructions that can be used by certain borrowers. Links to those documents can be found below ...
The UAE has introduced Cabinet Resolution 31 of 2019 (as amended) (the Economic Substance Regulations) which apply to UAE onshore and free zone entities that undertake, and earn an income from, any of the Relevant Activities (listed below): Banking Business Insurance Business Investment Fund Management Business Shipping Business Holding Company Business Lease-Finance Business Distribution & Service Centre Business Headquarters Business Intellectual Property Business The Re
