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PPP: How is Maine Faring?
Verrill, June 2020

Originally enacted on March 27, the Paycheck Protection Program (PPP) offers loan support and (potentially) loan forgiveness to qualifying small businesses – generally defined as those with not more than 500 employees. According to the U.S. Census Bureau, just under half of all working Americans are employed by businesses of that size. Protection and maintenance of headcount and wage rates are the key objectives of the PPP program...

U.S. Copyright Office Issues Final Regulation Regarding Short Online Literary Works
Dykema, June 2020

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...

Executive Order Suspends Entry of Certain Visa Categories due to Coronavirus Outbreak
Dinsmore & Shohl LLP, June 2020

Effective June 24, 2020, a new executive order from President Donald Trump will go into effect, limiting the entry of certain categories of foreign nationals to the U.S. through December 31, 2020 ostensibly to protect the U.S. labor market as it recovers from COVID-19. The order focuses on suspending and limiting entry of foreign nationals who are currently outside of the U.S...

US Trademark Office Waives/Refunds Fees for Reviving Applications and Registrations Abandoned Due to COVID-19
Dinsmore & Shohl LLP, June 2020

The COVID-19 pandemic has taken a toll on countless businesses around the United States, including breweries. During this time, its understandable many businesses have allowed their trademark deadlines to pass without action due to lack of funds. In light of these hardships, the US Trademark Office has announced that if a business allowed a deadline to pass due to COVID-19, it will waive/refund any fees to Petition to Revive the abandoned application or registration...

Ohio Treasurers COVID-19 Community Response Initiative
Dinsmore & Shohl LLP, June 2020

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...

IRS Issues CARES Act Guidance for Retirement Plans
Hanson Bridgett LLP, June 2020

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...

The Supreme Court Upholds the SECs 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...

Presidential Proclamation Extends Ban on Entry of Immigrants; Adds H-1B, L-1 and J-1 Visa Holders
Dykema, June 2020

Following up on Dykema’s alert from June 18, 2020, President Trump signed a Proclamation that extends his April 22, 2020, 60-day ban on immigrant workers entering the United States until December 31, 2020. In addition, it also added those with H-1B, H-2B, L-1 and J-1 visas and any foreign national accompanying them to this ban. The Proclamation states this was done to address, in part, high unemployment levels due to the coronavirus pandemic...

Law N21,240 that Modifies the Criminal Code and Law 20.393, to Sanction the Infringement of Isolation or Other Preventive Measures Issued by Sanitary Authorities, in the Context of a Pandemic or Epidemic
Carey, June 2020

On June 20th., it was published Law N°21.240, bill which was approved last Wednesday 17th by the Congress. The New Law increases sanctions for the infringement of quarantines and sets forth responsibility for Employees and Legal Entities. Article 318 of the Criminal Code punishes anyone who “jeopardizes public health by the infringement of hygienic and sanitary norms properly published by the authority, in the context of a catastrophe, pandemic or contagion...

SFC Imposes $6.4 Million Fine for Product Due Diligence and Suitability Assessment Failures
Deacons, June 2020

Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined an intermediary $6.4 million for control failures over a two year period in solicitation and recommendation of bonds to clients for execution on a third party platform...

Catching Up To California: The U.S. Supreme Court Rules That Title VII Protects Gay and Transgender Applicants and Employees
Hanson Bridgett LLP, June 2020

Key Points Title VII prohibits discrimination based on sexual orientation and gender identity. The holding does not change currently-existing legal obligations for California employers as discrimination based on sexual orientation and gender identity is prohibited under the FEHA. California employers should ensure they are complying with FEHA’s posting and training requirements. On Monday, June 15, 2020, the U.S. Supreme Court published a long-awaited opinion, Bostock v...

Municipal Advisors Granted Relief under SECs Temporary Conditional Exemption
Dinsmore & Shohl LLP, June 2020

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...

Buchalter COVID-19 Client Alert: Treasury Issues New PPP Interim Final Rule, and Revised Long Form and New Short Form EZ Forgiveness Application and Instructions
Buchalter, June 2020

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...

IRS Clarifies Eligible Like-Kind Property Under Proposed Section 1031 Regulations
Hanson Bridgett LLP, June 2020

Key Points IRS proposed new regulations for like-kind exchanges under section 1031. The guidance provides the definition of real property and treatment of incidental personal property in the section 1031 context. On June 11, 2020, the IRS released proposed regulations for like-kind exchanges under Internal Revenue Code (the "Code") section 1031 to incorporate the Tax Cuts and Jobs Act ("TCJA") changes...

Possible Presidential Proclamation to Limit Entry of H-1B, H-2B, L-1 and J-1 Visa Holders
Dykema, June 2020

Several reports, including one by the U.S. Chamber of Commerce, indicate President Trump may issue a Proclamation limiting or prohibiting the entry into the United States of foreign nationals holding H-1B, H-2B, L-1 and J-1 visas. H-1Bs are used to employ foreign nationals in specialty occupations (those positions normally requiring at least a Bachelor’s Degree or its equivalent for entry into the field). H-2Bs are for temporary, non-agricultural workers...

Economic Substance Notification Deadlines
Afridi & Angell, June 2020

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

FDA Issues Guidance on IRB Review of Non-Emergency Individual Patient Expanded Access Requests for Investigational Drugs and Biological Products to Treat COVID-19
Verrill, June 2020

Prompted by a substantial increase in requests for individual patient access to investigational drugs and biologics to treat COVID-19, the U.S. Food & Drug Administration (“FDA”) issued guidance on June 2, 2020 that outlines key factors and procedures that Institutional Review Boards (“IRBs”) should consider when reviewing such non-emergency requests...

10 Questions about the Impact of COVID-19 on Public Private Partnerships in Peru (PPP)
Rodrigo, Elias & Medrano Abogados, June 2020

Is the operation of PPP projects suspended? No. The State of National Emergency (in force from March 15 to June 30, 2020) has not affected the operation of PPP projects related to the provision of public and/or essential goods and services. Currently, it is also permitted to perform activities included in Phases 1 and 2 of the "Economic Reactivation Plan"(“Plan”) approved by the Central Government. See Exhibit I...

Coronavirus: Changes to the Rules on Public Moratoriums on Financing
PLMJ, June 2020

Analysis of the changes to the special legal rules onthe credit and financing moratorium. Through Decree-Law 26/2020 of 16 June (“DL 26/2020”), the Government has approved, a set of amendments to the special rules onthe moratorium on financing approved by Decree-Law 10-J/2020 of26March...

Real Time COVID-19 Bulletin - Week of June 15, 2020
Brigard Urrutia, June 2020

Bogotá DC Mayor's Office is preparing a package of new measures for the city The Bogota City Hall has advanced a series of new measures in order to continue fighting the expansion of COVID-19. Particularly, the orange alert has been declared in the hospital system of Intensive Care Units, with which, the District Health Secretariat will give guidelines on patient care and will manage their referral to ICUs...

NEC Exempt Resolution No. 176 that Determines the Scope on the Exclusive Business Purpose of Energy Distribution Companies
Carey, June 2020

The National Energy Commission (“NEC”) issued on May 29, 2020 the Exempt Resolution No. 176 (“NEC ER 176”) that determines the scope on the exclusive business purpose and separate accountings of energy distribution companies, for the provision of the energy distribution public service according to what was set in Law No. 21,194. The NEC ER 176 was published in the Official Gazette on June 9, 2020...

New Instructions for Movement Permits for Essential Workers
Carey, June 2020

According to the announcements of the authority in recent days, the new instructions for movement permits (hereinafter “Instructions”) were published on June 12, which will be effective as of Monday, June 15 at 05:00 am. The main modifications introduced by this new version of the instructions are the following: 1. Types of collective permits...

CORFO Creates Green Credit to Boost Investment in Renewable Energy, Energy Efficiency and Circular Economy Projects.
Carey, June 2020

On June 11, 2020, Resolution No. 29/2020 (“RES 29”) of the Chilean Economic Development Agency (“CORFO”), which approved the regulations that will govern the “Green Credit” program, was published in the Official Gazette. The RES 29 aims to endorse the investment in renewable energy projects during the economic contingency arising post Covid-19. (https://www.corfo.cl/sites/cpp/sala_de_prensa/nacional/10_06_2020_corfo_crea_credito_verde)...

SERNAC Begins the Process of Monitoring Compliance with Law No. 20,009 which Limits Users' Liability for Fraud
Carey, June 2020

New Law No. 21,234, which amends and replaces Law No. 20,009, entered into force on May 29th, 2020. This norm aims to provide more protection to consumers and extending the liability of financial institutions against payment card and electronic transaction fraud...



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