16 Apr
Member News

WSGR: Director of FTC’s Consumer Protection Bureau Gives Guidance on Consumer Protection Risks Associated with AI and Algorithms

April 15, 2020 | These days, most companies are focused on the myriad of legal, health and safety, and financial issues caused by COVID-19. While the firm is actively monitoring these issues,1 we also want to keep you abreast of other developments that may be relevant to your business. Here, we provide an overview of guidance recently offered by Andrew Smith, the director of the Federal Trade Commission's (FTC) Bureau of Consumer Protection, on how to manage consumer protection risks associated...

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15 Apr
Member News

PepperHamilton: U.S. and U.K. Agencies Warn of Increased COVID-19 Related Cyber Threats

April 15, 2020 | As reported in March, the COVID-19 pandemic is being leveraged by malicious cyber actors to make various cybersecurity attacks. In a joint alert issued on April 8 by the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) and the U.K.’s National Cyber Security Centre (NCSC), the agencies provided information on exploitation of the pandemic by cybercriminals and advanced persistent threat groups and provided guidance to help mitigate these threats. The alert identified several observed threats: •...

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15 Apr
Brexit News, Member News

OsborneClarke: Tax changes in the UK and the EU, An update for US businesses with European operations

April 15, 2020 | Covid-19 It is difficult at the moment to look beyond Covid-19 and the impact that it is having on our lives and the economy. Like all sections of the economy, taxes need to be considered when responding to this crisis. In the UK, the government has announced a range of emergency tax measures designed to help businesses deal with the fallout from the outbreak. These include a deferral of VAT payments and a relaxation of Time to...

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15 Apr
Member News

FaegreDrinker: CARES Act, Main Street Lending Program Summary for Small and Mid-Sized Businesses

April 14, 2020 | On April 9, 2020, the Federal Reserve released term sheets for a Main Street Lending Program, a new program intended to provide liquidity to small and medium-sized businesses to help withstand the coronavirus crisis. The Main Street Lending Program enables up to $600 billion in new financing of eligible term loans from eligible lenders to eligible businesses and consists of the Main Street New Loan Facility (the MSNLF) and the Main Street Expanded Loan Facility (MSELF)....

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15 Apr
Chapter News

Coronavirus: European roadmap shows path towards common lifting of containment measures

April 15, 2020 Today, the Commission, in cooperation with the President of the European Council, has put forward a European roadmap to phase-out the containment measures due to the coronavirus outbreak. While we are still in firefighting mode, the necessary extraordinary measures taken by Member States and the EU are working. They have slowed down the spread of the virus and saved thousands of lives. However, these measures and the corresponding uncertainty come at a dramatic cost to people, society and the economy,...

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14 Apr
Member News

ThompsonHine: Main Street Lending Program, New Relief for Small to Mid-Sized Businesses

April 14, 2020 • $600 billion Main Street Lending Program established under the CARES Act to help small and medium-sized businesses. • Businesses with up to 10,000 employees may be eligible. • Loan amounts range from $1 million to $150 million, based on eligibility. On April 9, the Treasury Department and Federal Reserve released details about the new $600 billion Main Street Lending Program, which is designed to help shore up the economy. The program will be implemented using funds appropriated under the...

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14 Apr
Chapter News

COVID-19 Crisis Poses Threat to Financial Stability

April 14, 2020 The COVID-19 pandemic has caused an unprecedented human and health crisis. The measures necessary to contain the virus have triggered an economic downturn. At this point, there is great uncertainty about its severity and length. The latest Global Financial Stability Report shows that the financial system has already felt a dramatic impact, and a further intensification of the crisis could affect global financial stability. Since the pandemic’s outbreak, prices of risk assets have fallen sharply. At the worst point of the recent...

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14 Apr
Member News

H&K: Legal Insights on the Import of PPE and Other Medical Supplies Vital to Fighting COVID-19

April 13, 2020 • The COVID-19 crisis has revealed the extent to which the United States and other countries are dependent upon a well-functioning global supply chain of critical medical supplies, including Personal Protective Equipment (PPE) essential to protecting doctors, nurses, EMTs and others on the front lines of the pandemic. • As with many goods, the supply chain, from raw material to manufacturing to delivery, is global and depends on "just-in-time" supply chains. In normal times, this degree of global...

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13 Apr
Chapter News, New York Related News

COVID-19: Business Resources

With daily updates about the economic impact of the Coronavirus (COVID-19) on businesses and questions about the relief offered by the U.S. Government agencies, EACC has put together an overview of state and federal relief available to offset economic losses. American & European small and medium size businesses are facing an unprecedented economic disruption due to the COVID-19 outbreak Congress has put together various loan programs to help those businesses. Concrete as a first step the U.S. President signed into...

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13 Apr
Chapter News

Coronavirus: European Union launches “Team Europe” package to support partner countries with more than €20 billion

April 8, 2020 | Today, the European Union is launching its “Team Europe” package to support partner countries in the fight against the coronavirus pandemic and its consequences. The objective of the “Team Europe” approach is to combine resources from the EU, its Member States, and financial institutions, in particular the European Investment Bank and the European Bank for Reconstruction and Development. The European Commission and the European Investment Bank have already pledged financial support amounting to more than €15.6 billion from existing programmes....

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