On 5 March, the CMVM published Regulation 2/2020 on the Prevention of Money Laundering and Terrorist Financing, to provide the regulations under Law 83/2017 of 18 August. The CMVM did this as the sector regulator responsible for supervising financial entities including investment companies, investment fund management companies, venturecapital companies, and securitisation companies ...
Many employers have been considering workforce changes to address the economic downturn and cash flow issues caused by COVID-19. Yesterday's announcement by the Federal Government about wage subsidies (known as 'JobKeeper Payments') has been welcomed by employers and unions, and should be closely considered by employers before implementing any changes. It has been reported that 8,000 businesses lodged an application for the subsidy in the 50 minutes that followed the announcement ...
The COVID-19 pandemic is indisputably the most serious public health emergency of our times, and at the same time, a shock to the global economy. Being a field of law largely influenced by economics, it would seem inevitable that the application of competition law would not be affected by the current economic realities brought about by the coronavirus pandemic ...
Through Executive Decree No. 145 of 1 May 2020 (the “Executive Decree”), enacted in Official Gazette 29,015 of the same date, the Panamanian Government established certain measures related to lease agreements and eviction procedures ...
Superintendence of the Securities Market The Superintendence of the Securities Market (the “SMV”) has established the following measures for working hours and presentation and process of filings before such entity as part of the governmental effort to avoid the spread of COVID-19:[1] Maintain the special working hours of the SMV from 8:00 a.m. to 12:00 p.m. until there is a new announcement by the SMV ...
Panama, May 4, 2020. The Superintendence of the Securities Market (the “SMV”) has implemented measures that allow its regulated entities to continue with their financial activities that, in accordance to the Executive Decree No° 507 of 24 March 2020, are exempted from the measures adopted by the Executive Branch for the COVID-19 pandemic. Remote Working In accordance to General Resolution SMV No ...
The Paycheck Protection Program (“PPP”) is intended to provide nearly $700 billion of economic relief to small businesses adversely affected by COVID-19 ...
On April 9, 2020, the Board of Governors of the Federal Reserve System (the “Board”) announced the establishment of the Main Street Lending Program (“Main Street Loan Program”), an up to $600 billion lending program for mid-size businesses ...
On Monday, for the first time in history, the U.S. Supreme Court heard oral arguments via teleconference and live-streamed the conference call to the public. And, if that was not exciting enough, to kick off a planned two-week session of tele-arguments, the Court chose a case whose subject is relatable to the general public – domain names ...
The Director of the U.S. Patent and Trademark Office on April 28, 2020 signed a Notice of Extended Waiver for certain deadlines associated with patent-related filings, if the missed deadline resulted from situations relating to COVID-19. Due dates between March 27 and May 31, 2020 are extended until June 1, 2020 ...
Many clients who are engaged in litigation may also now be facing the added burden of decreased cash flow due to the economic crisis created by the COVID-19 pandemic. While courts around the country may view the situation differently, Dinsmore attorneys were recently able to help a corporate client obtain an early, administrative closure of their case due to the economic crisis they are experiencing at this time ...
As some businesses are reopening while COVID-19 plateaus, many employees are splitting time between working from home and working in the office. Those same employees are often using their own devices (phones, tablets, laptops etc.) in both places. The use of personal devices in a work setting can increase risk of a data breach ...
COVID-19 has caused a swift and unprecedented change to many social institutions in the United States (and worldwide). As a result, lawyers have been compelled to adopt new practices and policies to face the challenges of this time. No discipline has been changed quite as much, however, as that of the litigator. COVID-19, for example, has changed the way depositions will look for the immediate future ...
In a typical bankruptcy filing, a debtor seeks the benefit of two concepts. First, the debtor seeks the breathing room afforded that debtor by the automatic stay. Second, the debtor seeks to discharge all debt obligations adjudicated in the bankruptcy case. Absent these protections, a bankruptcy filing serves little purpose. As a result, a creditor or trustee who can attack the debtor's entitlement to a discharge threatens the heart of any filing ...
On 29 April 2020, the Hong Kong Competition Tribunal (Tribunal) handed down its first ever judgment on pecuniary penalties against ten decoration contractors (Penalty Judgment) who were found to have violated the First Conduct Rule under the Competition Ordinance (Ordinance), which prohibits undertakings from entering into an agreement or engaging in a concerted practice that has the object or effect of harming competition in Hong Kong ...
On May 5, 2020, the Small Business Administration extended the time in which certain borrowers of Paycheck Protection Program loans may take advantage of the certification safe harbor SBA announced on April 24, 2020. The SBA also issued guidance on applying the affiliation rules to businesses with U.S. and foreign affiliates ...
The Director of the U.S. Patent and Trademark Office on April 28, 2020 signed a Notice of Extended Waiver for certain deadlines associated with trademark-related filings, if the missed deadline resulted from situations relating to COVID-19. Due dates between March 27 and May 31, 2020 are extended until June 1, 2020 ...
Our COVID-19 Task Force stands ready to assist with developing your customized "playbook" for helping your business return to the new normal. Below are a few recent articles Spilman has published, along with a link to a recent webinar ...
Governor Wolf has selected 24 counties for movement from the red phase to the yellow phase of the reopening plan. Once a business is permitted to open in-person operations, they must comply with certain requirements that are set forth in a guidance document available here. The Guidance references certain orders and documents issued by the PA Department of Health, PA Department of State and Governor's Office ...
The property rental sector and the relation between Landlords and Tenants could not remain unaffected by the current Covid-19 pandemic, and there is a need to protect Tenants from eviction proceedings due to their inability to pay rent during the pandemic and the period during which emergency lockdown measures are imposed by the Government of Cyprus. Within the framework of this reasoning, the Rent Control Law (Temporary Provisions) of 2020 was entered into force ...
The National Immigration Authority and the Ministry of Labor extend the measures taken as a result of the State of Emergency due to the COVID-19 pandemic. Residence permits are extended up to May 15th. This extension is in force since March 13th. Reference is made to all permits and tourist stays that expire within the aforementioned period and will not give rise to fines due to expiration ...
On April 30, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-32, 2020-21 I.R.B. 1, providing guidance on the deductibility of certain expenses incurred pursuant to the Paycheck Protection Program (“PPP”) of the Coronavirus Aid, Relief and Economic Security Act, Pub. L. No. 116-135 (“CARES Act”) ...
Fiscal Support Schemes Full suspension of operations Companies the operations of which were mandatorily suspended, pursuant to the pertinent Decisions of the Council of Ministers and decrees of the Minister of Health, includinginter aliashopping centres, department stores, cafes, coffeehouses, bars and all catering businesses (excluding delivery services), entertainment venues, cinemas, theatres, performance venues, libraries, museums, archaeological and historical sites, bookies, cas
