Newsletters

09.02.20

Updated: Guidance on Payroll Tax Deferral

On August 8, 2020, President Trump issued an executive order directing the Secretary of the Treasury to permit employers to defer the withholding and deposit of certain payroll tax obligations.


08.27.20

SEC Makes Key Changes to Accredited Investor Definition

In its Final Rule issued on August 26, 2020, a divided Securities and Exchange Commission (SEC) expanded the group of individuals and entities permitted to invest in private securities by amending the definitions of “accredited investor” and “qualified institutional ...


06.26.20

As Second Quarter Closes, SEC Issues Further COVID-19 Disclosure Guidance

On June 23, 2020, in CF Disclosure Guidance: Topic No. 9A, the SEC’s Division of Corporation Finance issued a supplement to the Division’s initial COVID-19-related disclosure guidance from March 25. The Division’s supplemental guidance details suggestions for public ...


06.19.20

An Updated Guide to Applying for PPP Loan Forgiveness, With Changes From the PPP Flexibility Act

As set forth in the CARES Act, a substantial portion of monies borrowed under the Paycheck Protection Program (PPP) may be eligible for forgiveness.


06.10.20

Main Street Lending Program Expanded Again

On June 8, the Federal Reserve once again released new term sheets for its Main Street Lending Program, further expanding access for a wider spectrum of borrowers and increasing the program’s flexibility.


05.19.20

SBA Publishes Loan Forgiveness Application for Paycheck Protection Program

On May 15, 2020, the Small Business Administration (SBA) published a form of the loan forgiveness application for borrowers of Paycheck Protection Program (PPP) loans under the CARES Act.


05.08.20

Nasdaq Provides Temporary Relief From Shareholder Approval Requirements

On May 4, 2020, in response to the tremendous economic uncertainty and ensuing securities market downturn resulting from COVID-19, the Securities and Exchange Commission approved effectively immediately Nasdaq Listing Rule 5636T providing a temporary exception from Nasdaq’s shareholder ...


04.13.20

New Federal Reserve Credit Facilities Providing up to $2.3 Trillion in Additional COVID-19 Funding

On April 9, the Federal Reserve took the following actions to provide up to an additional $2.3 trillion in economic aid to support the economy during the coronavirus pandemic.


04.04.20

An Updated Practical Guide for Small Businesses to Obtain a Paycheck Protection Loan Under CARES Act

On April 2, 2020 and April 4, 2020, the Small Business Administration (SBA) issued unusual interim final rules (the Rules) providing further detail regarding Paycheck Protection Program loans under the CARES Act. The Rules will take effect immediately upon publication in the Federal ...


04.03.20

SBA Issues Interim Final Rule for Paycheck Protection Loans

On April 2, 2020, the Small Business Administration (SBA) issued an unusual interim final rule (the Rule) providing further detail regarding Paycheck Protection Program loans (PPP Loans) authorized under the CARES Act.