21 May
Member News

H&K: Employee and Benefits Considerations When Doing Business in the United States Checklist

May 20, 2020 | • Expanding a business into the United States can be an exciting yet challenging enterprise that may take into consideration a multitude of compliance regimes in the arenas of employment, employee benefits and executive compensation. • This Holland & Knight alert endeavors to simplify those complex rules and regulations by providing a list that could help guide a company through a multitude of considerations, including identifying essential parties, processes and compliance concerns in employee and benefits. Expanding your...

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20 May
Chapter News

European Semester Spring Package: Recommendations for a coordinated response to the coronavirus pandemic

May 20, 2020 | The Commission has proposed today country-specific recommendations (CSRs) providing economic policy guidance to all EU Member States in the context of the coronavirus pandemic, focused on the most urgent challenges brought about by the pandemic and on relaunching sustainable growth. The recommendations are structured around two objectives: in the short-term, mitigating the coronavirus pandemic's severe negative socio-economic consequences; and in the short to medium-term, achieving sustainable and inclusive growth which facilitates the green transition and the digital...

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20 May
Member News

NautaDutilh: Belgium, two new EUR fines for tell-a-friend and health-related GDPR violations

May 20, 2020 | On 19 May 2020, the Belgian Data Protection Authority published two new decisions of the BDPA's Litigation Chamber, each handing down a fine for infringements of the GDPR. The two cases were very different, but the combination makes for interesting lessons in relation to consent and legitimate interests. Other topics covered include the processing of health-related data, the use of "invite/tell-a-friend" functionality, whether to publish a DPIA and what to check in a privacy statement. CONTINUE READING... AUTHORS: • Peter...

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20 May
Member News

WSGR: PPP, SBA Publishes Loan Forgiveness Application and Instructions for Borrowers

May 18, 2020 | Late Friday evening, May 15, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, published its long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application, as well as detailed instructions and worksheets to assist borrowers in filling out the application. A copy of the application and instructions can be found here. The SBA also announced that it will issue further guidance and regulations in the near future to further assist borrowers in...

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20 May
Member News

A&LGoodbody: COVID-19: Updates from Irish and European financial regulators

Published April 17, 2020 | Updated May 19, 2020 ALG's Financial Regulation team has compiled an overview of the various statements compiled by the Central Bank of Ireland, the European Banking Authority, the European Central Bank and the European Securities and Markets Authority related to the COVID-19 pandemic. These statements outline regulators' expectations of regulated financial services providers in an uncertain economic and regulatory landscape. VIEW FULL PUBLICATION HERE Compliments of A&L Goodbody - a member of the EACCNY.

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20 May
Member News

GTLaw: Federal Reserve Releases New Information on the TALF

On May 12, 2020, the Board of Governors of the Federal Reserve System (the Federal Reserve) announced additional information and FAQs on its Term Asset-Backed Securities Loan Facility (TALF). The goal of the TALF is to help consumers and businesses access affordable credit during and in the aftermath of the Coronavirus Disease 2019 (COVID-19) pandemic by lending to holders of recently generated asset-backed securities (ABS) collateralized by certain types of consumer and business loans. The Federal Reserve will make up to $100 billion...

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19 May
Member News

EIB: What investment does Europe need to recover from COVID-19?

May 19, 2020 | The COVID-19 pandemic represents an unprecedented shock to the European and global economies. Mitigating the economic impact on households, businesses, and the financial system is the priority. But it is also necessary to plan a response that will ensure rapid and sustained recovery. This crisis could exacerbate weaknesses in the European economy that stem from long-term underinvestment in areas critical for the continent’s future competitiveness. At the onset of the COVID-19 crisis, some EU countries had still not fully...

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19 May
Member News

H&K: New PPP Interim Final Rule Clarifies That Foreign Employees Count for Size

May 18, 2020 | But SBA Creates Safe Harbor for Applications Made Prior to May 5 • A new Interim Final Rule from the U.S. Small Business Administration (SBA) solidifies Paycheck Protection Program (PPP) counting rules, stating that all employees, foreign and domestic, of a business and its affiliates (absent an exception) count for purposes of size limitations. • The SBA will not deem a business that applied for a PPP loan prior to May 5, 2020, ineligible based on the exclusion...

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19 May
Chapter News

Unprecedented collapse in CLIs in most major economies

May 12, 2020 | Composite leading indicators (CLIs) in most major economies collapsed by unprecedented levels in April as containment measures for Covid-19 continued to have a severe impact on production, consumption and confidence.  In China, however, where containment measures have already been eased, the CLI for the industrial sector is tentatively pointing towards a positive change in momentum, with April’s CLI and a large upward revision for March both pushing the CLI upwards. Some care is needed in interpretation, as...

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19 May
Chapter News

Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households

May 14, 2020 | Financial circumstances were generally positive for most adults at the end of 2019. However, the Federal Reserve Board's latest Report on the Economic Well-Being of U.S. Households, Featuring Supplemental Data from April 2020, found that financial conditions changed dramatically for people who experienced job loss or reduced hours during March 2020 as the spread of COVID-19 intensified in the United States. The report draws from the Board's seventh annual Survey of Household Economics and Decisionmaking (SHED), which examines...

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