The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, provides $2 trillion in relief funds for individuals and businesses, including $500 billion in direct aid for large companies and more than $300 billion for small companies. Businesses applying for and receiving funds under the CARES Act should be mindful of risks associated with stringent government oversight and inevitable investigations targeting waste, fraud, and abuse ...
Spread of coronavirus infection made companies to change their daily practices in order to ensure continuous business operation without compromising individuals’ safety. In this newsletter, we elaborate on the most sensitive legal issues in terms of data protection, privacy and cybersecurity ...
Below is a summary of key new measures and initiatives that have been implemented by various UAE authorities since 9 April 2020 and the time of this inBrief, 6:00 p.m. on Monday, 13 April 2020. Commercial Activity On 13 April 2020 the Dubai Department of Economic Development issued a circular on the re-opening of some commercial activities and emphasised that these activities must continue to comply with preventive guidelines, including operating only between the hours of 8:00 a.m ...
Introduction The Italian Government has adopted Law Decree no. 23 of 8 April 20201 (the "Liquidity Decree"), which provides for additional measures to support companies in the current COVID-19 emergency ...
On April 9, 2020, the Commission for the Financial Market ("CFM") issued Directive Nr. 1146 which, according to the situation associated with the outbreak of Covid-19 and the State of Constitutional Disaster Emergency, resolved the following: I. Establishing by 2020 the following deadlines for the submission of reports on the following regulations: General Rule Nr ...
Background On 15 February 2019, a petition for a judicial review was submitted by two individuals (“Petitioners”), claiming that their constitutional rights had been violated by Article 15 (2) and Article 15 (3) of Law No. 42 of 1999 on Fiduciary Security (“Fiduciary Security Law”) ...
On April 9, 2020, the Federal Reserve announced that it was taking additional actions to provide up to $2.3 trillion in loans to support the U.S. economy ...
In this Informative Guide you will find important information about the following: tourist stays, visas and residence permits, work permits, traveling, and mobility inside the country including curfews, circulation permits (Salvoconductos), and driver’s licenses. Tourist stays Panamanian authorities have informed that tourist who have expired stays from 13 March 2020, as a consequence of the Covid-19, will not be fined. And they will be able to circulate ...
Following the announcement of economic measures aimed towards responding to the COVID-19 outbreak, the Serbian Government issued two regulations on 10 April 2020 that determine the conditions and criteria for compliance of the state aid (i) for remedying the negative effects caused byCOVID-19 and (ii) for remedying a serious disturbance in the economy caused byCOVID-19, whereas both regulations will be valid until 1 July 2021 ...
The Federal Trade Commission (FTC) is devoting significant resources to combat deceptive COVID-19 advertising in a range of industries as consumer complaints to the FTC pick up steam. Companies are shifting marketing spend to cover COVID-19 messaging and should be mindful of the FTC’s increased scrutiny. Through April 9, 2020, the FTC has received 15,006 consumer complaints relating to COVID-19 advertising and business activities ...
By means of the Decree 531, 2020 issued by the Ministry of the Interior under the economic, social and ecological emergency, the national government extended the current mandatory preventive isolation from April 13 at 00:00 hours until April 27 at 00:00 hours to continue the mitigation process of the sanitary emergency caused by the Covid-19. Pursuant to this Decree, the free circulation of individuals is restricted in the entire country ...
By means of Decree 106 of 2020, it is ordered to give continuation to the mandatory preventive isolation in Bogotá D.C., from April 13, 2020, until April 27, 2020. This, taking into account that it was instructed by the president of the Republic, as a measure to avoid the extension of the COVID-19 contagion, within the framework of the declaration of economic, social and ecological emergency declared in the national territory ...
Due to the current lockdown, companies were not able to hold shareholders meetings and pass resolutions on certain matters requiring urgent attention/approval of the shareholders. With a view to facilitate such companies, the Ministry of Corporate Affairs (MCA) has issued a recent circular no. 14 of 2020on April 8, 2020 permittingcompanies to convenetheirExtraordinary General Meetings (EGM)s through video conferencing or other audio-visual means ...
The Financial Services Authority (Otoritas Jasa Keuangan/“OJK”) recently issued OJK Regulation Number 12/POJK.03/2020 of 2020 on the Consolidation of Commercial Banks (“OJK Reg 12/2020”). This new regulation aims for strengthening the structure, resilience, and competitiveness of the national banking industry to support national economic stability and growth through the strengthening of bank capital and the consolidation of banks in Indonesia ...
With the UAE in virtual lockdown and the majority of businesses required to operate remotely, an increasing number of documents are required to be signed electronically. Although electronic signatures were not commonly used prior to the onset of COVID-19 in the UAE, the legal framework for the use of electronic signatures has been in place for quite some time ...
1. Force Majeure - Meaning. The term ‘force majeure’ translates literally from French assuperior force. It is also generally defined in the Merriam Webster dictionary as ‘an event or effect that cannot be reasonably anticipated or controlled’ ...
TOP STORY: Coronavirus (COVID-19) In recognition of the unique hardships presented by Novel Coronavirus/COVID-19, the SEC has issued a variety of relief orders across the securities industries. Many of these have come in the form of deadline exemptions or extensions. Our newsletter is focused on providing updates and information primarily concerning the investment advisory business ...
Across the country, construction projects of every nature are impacted by the COVID-19 pandemic. The situation and governmental response to the pandemic continue to evolve, and owners must keep abreast of these changes to ensure they manage their construction projects appropriately. There are a litany of issues, legal and practical, that owners need to assess when deciding how to manage ongoing projects and those in the pipeline ...
