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DOE’s Recent RFI Specifies “Foreign Adversaries” – What Does it Mean?
Lowenstein Sandler LLP, July 2020

What You Need To Know: Recent events emphasize the effect of the U.S.-China relationship on imports, exports, and foreign investment. Companies should consider looking closely at whether and how their products or services could be considered a national security concern in a variety of regulatory capacities, including foreign investment, export controls, and even real estate...

Residential Evictions: What Tenants Need to Know
Lowenstein Sandler LLP, July 2020

LOCKOUTS Can I be locked out of my home during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which immediately suspends evictions throughout the state. This is called an “eviction moratorium,” and it means that, except in rare circumstances, no tenant may be removed from his or her home as a result of an eviction proceeding...

The EU-U.S. Privacy Shield Invalidated: What it Means for U.S. Companies
Lowenstein Sandler LLP, July 2020

What You Need To Know and Do Now: Europe’s top court has invalidated the EU-U.S. Privacy Shield, effective immediately. For now, other EU-U.S. data transfer mechanisms, such as the Standard Contractual Clauses, remain intact BUT subject to additional, intense scrutiny by EU regulators. The U.S...

U.S. Department of Labor Proposes New (Simpler) Fiduciary Rule Exemption
Lowenstein Sandler LLP, July 2020

What You Need To Know: The Proposed Exemption reaffirms the long-standing five-part test used prior to the vacated fiduciary rule to determine whether an investment adviser is a fiduciary for purposes of ERISA and the Internal Revenue Code (Code)...

OCIE Risk Alert: Key Takeaways and Practical Applications for Hedge Fund Managers
Lowenstein Sandler LLP, July 2020

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a risk alert entitled Observations from Examinations of Investment Advisers Managing Private Funds (the “Alert”). The Alert focused on three principalcategoriesof deficiencies observed by OCIE staff during examinations of registered investment managers that advise private funds...

U.S. Companies Required to Report Foreign Investments: BEA’s Little-Known Reporting Requirements
Lowenstein Sandler LLP, July 2020

Many U.S. companies are unaware that a relatively unknown agency, the Bureau of Economic Analysis (BEA) at the Department of Commerce, administers mandatory reporting requirements that oblige ALL U.S. businesses to file reports identifying foreign direct investment (FDI).Reports are filed at the inception of the investment andthen every five years in a follow-up “benchmark survey.”Additionally, the BEA will contact certain companies tomake additional filings...

Main Street Lending Program–Launch Update
Lowenstein Sandler LLP, July 2020

Five Things to Know About the Pre-Launch Update to the Main Street Lending Program (June 8, 2020) Major Updates to Main Street Lending Program (May 1, 2020) The Issues With the Main Street Lending Program (April 24, 2020) Federal Reserve–Initial Launch, Main Street Loan Facilities (April 10, 2020) SBA Paycheck Protection Program (March 30, 2020) Emergency Relief Legislation for Businesses and Individuals: CARES Act-Loan Programs (March 27, 2

IRS Issues CARES Act Guidance for Coronavirus-Related Distributions and Loans From Tax-Qualified Plans; Also Allows Cancellation of Deferred Compensation Elections
Lowenstein Sandler LLP, July 2020

What You Need to Know The IRS issued Notice 2020-50 which provides guidance on provisions of the CARES Act that temporarily allows “coronavirus-related distributions” and doubles the limitations on plan loans. The guidance provides insight on how to report “coronavirus-related distributions” and recontributions to qualified retirement plans, including examples...

The Supreme Court Upholds the SEC’s Ability to Obtain Disgorgement
Lowenstein Sandler LLP, June 2020

In a long-anticipated decision, the U.S. Supreme Court this week upheld the Securities and Exchange Commission’s (SEC) ability to obtain disgorgement, provided the award does not exceed the wrongdoer’s ill-gotten gains and is returned to the victims. The Supreme Court’s decision came inLiu et al. v...

Latest Update on the Paycheck Protection Program Flexibility Act of 2020
Lowenstein Sandler LLP, June 2020

View our other alerts and articles on the SBA Paycheck Protection Program on our Coronavirus/COVID-19 resource page. This alert was originally published on June 4, 2020, and is being updated as new information becomes available...

Is It Time to Become a Distressed Lender? How PE Sponsors Can Pivot to a Bankruptcy-Lending Strategy While Managing Attendant Risks
Lowenstein Sandler LLP, June 2020

As its impact continues to expand, the coronavirus outbreak is likely to threaten a wide range of industries given the complexity and intricacy of the global economy. Certain industries (e.g., retail, hospitality and travel) are already suffering due to decreased economic activity and supply chain disruptions. Every industry will undoubtedly face tremendous challenges as it attempts to recover from the pandemic, the full effect and timing of which are largely not yet understood...

Some Going Concerns: A Primer on Intellectual Property Issues in Bankruptcy for Licensors and Licensees
Lowenstein Sandler LLP, June 2020

Westlaw Journal Bankruptcy Much has been written on the myriad of legal issues emanating from the global COVID-19 pandemic: the constitutionality of the lockdowns, liability for stores that open, the process of obtaining PPP loans, and the applicability of force majeure clauses, to name a few. As intellectual property and bankruptcy practitioners, we are fielding more questions regarding the impact of bankruptcies (both actual and potential) on the rights of licensors and licensees...

Privacy Concerns Multiply as Digital Contact Tracing Spreads: U.S. Tech Industry Takes the Lead as Congress Fails to Act
Lowenstein Sandler LLP, June 2020

What You Need To Know: Digital contact tracing (DCT) is a potential game changer in the COVID-19 pandemic. However, the sensitive personal information collected by DCT applications (“DCT apps”) largely falls through the cracks of existing U.S. data protection laws. The California Consumer Privacy Act (CCPA) may be the only current legal model that encompasses the data privacy aspects of digital contact tracing...

Long Overdue: U.S. Supreme Court Holds Title VII Protects Gay and Transgender Employees
Lowenstein Sandler LLP, June 2020

What You Need To Know: It is now unlawful under federal law to discriminate against an employee because of that person’s sexual orientation or transgender status. Previously, more than 25 states did not have laws protecting gay employees from discrimination. Yesterday's Supreme Court decision confirms that discrimination based upon one’s sexual orientation or gender identity is discrimination based upon sex and therefore unlawful...

DOJ Releases Updated Guidance for Evaluating Corporate Compliance Programs
Lowenstein Sandler LLP, June 2020

Use of Data Analytics and Access to Compliance Resources Among New Considerations On June 1, 2020, the United States Department of Justice (DOJ) updated its “Evaluation of Corporate Compliance Programs,” a guidance document used by prosecutors to assess compliance programs. Prosecutors use the document in making charging decisions pertaining to companies and in imposing obligations such as a corporate monitorship...

U.S. Government Issues Updated Sanctions Warning
Lowenstein Sandler LLP, June 2020

On May 14, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Department of State, and the U.S. Coast Guard issued a Sanctions Advisory for the Maritime Industry, Energy and Metals Sectors, and Related Communities, reflecting increased scrutiny and enforcement attention by U.S. government agencies on curbing illicit shipping practices...

Five Things to Know About the Pre-Launch Update to the Main Street Lending Program
Lowenstein Sandler LLP, June 2020

Certain provisions of the coronavirus economic stimulus legislation are subject to the ongoing issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified, revised, or added...

Paycheck Protection Program Flexibility Act of 2020
Lowenstein Sandler LLP, June 2020

Certain provisions of the coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations, government guidance and other government action; thus, certain details regarding the legislation may be clarified or added. View our other alerts and articles on the SBA Paycheck Protection Program on our Coronavirus/COVID-19 resource page. On June 3, 2020, the U.S...

California Attorney General Submits Final Regulations for the California Consumer Privacy Act
Lowenstein Sandler LLP, June 2020

What You Need To Know: The final California Consumer Privacy Act regulations are now under review by the California Office of Administrative Law, and there will be no additional opportunities for public comment. The California Attorney General has requested expedited review of the CCPA regulations, bypassing an executive order issued by the Governor of California extending administrative review periods due to the COVID-19 pandemic...

Contradictory Responses by Privacy Regulators Post-COVID-19: Balancing the Economy With Cybersecurity in a Changed World
Lowenstein Sandler LLP, June 2020

What You Need To Know: The CCPA is currently set to become enforceable on July 1. If your business is regulated by the CCPA, you have 30 days from publication of this alert to comply. Government authorities have pursued different, frequently contradictory, approaches to enforcing data privacy and cybersecurity regulations during the COVID-19 pandemic...

Antitrust Does Not Shelter in Place During a Pandemic, Part 2: Don’t Claim the Failing Firm Defense Unless You’re Really Failing
Lowenstein Sandler LLP, May 2020

The Federal Trade Commission (FTC) has reminded us that the “failing firm defense” is much harder to pull off than might be imagined, and that the antitrust agencies will closely analyze all “failing company” claims even during the coronavirus pandemic. In its May 27 blog post, "On “Failing” Firms — and Miraculous Recoveries,"the FTC emphasized that the defense is difficult to make and, even more to the point, often not true...

Emerging From COVID-19: Data Privacy and Security in a Changed World
Lowenstein Sandler LLP, May 2020

As millions have moved their professional and personal lives online, in-person contact during the COVID-19 pandemic has become a memory except for “essential” public services. To receive medical care or an education, be entertained, conduct business, shop for essentials, and engage in online gaming, Americans have few options but to fill in the blanks with their personal information. Individuals, consumers, and business contacts are becoming acutely aware of the risks...

COVID-19: Focus on Executive Compensation
Lowenstein Sandler LLP, May 2020

The impact of the COVID-19 pandemic on the business community is unprecedented. Every company and executive is questioning the effects the disease will have on their business, employees, customers, and local and global economies. While it is still too early to know the long-term ramifications of the disease, the more immediate implications for businesses are already evident, including a lockdown of large swaths of the U.S...

Deferred Compensation Considerations in the Wake of the COVID-19 Pandemic
Lowenstein Sandler LLP, May 2020

As the COVID-19 pandemic continues to unfold, both employers and employees are faced with liquidity issues, furloughs, layoffs, and the reduction of hours. In order to conserve cash, employers may be looking for ways to delay payments of deferred compensation and employees may be looking for ways to accelerate the payments of deferred compensation...

COVID-19: Considerations in Stock Option Repricing
Lowenstein Sandler LLP, May 2020

In the past weeks, many companies, both public and private, have seen their stock prices and values decline because of the economic disruption caused by COVID-19. As a result, outstanding stock options may no longer provide adequate incentives, as their exercise prices may be well above the current fair market value for the company’s common stock (i.e., the options are “underwater”)...

 

 

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