Temporary Ban on Net Short Positions in Response to Market Turmoil in the Wake of Covid-19 Outbreak On March 17, 2020, CONSOB, the Italian markets and securities regulator, introduced an outright temporary ban on taking or increasing net short positions in respect of all shares admitted to trading on the Mercato Telematico Azionario (MTA), the Italian regulated stock market, pursuant to the terms of EU Regulations 236/2012 and 918/2012. The list of the restricted shares is included in Annex A. The temporary...

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The U.S. Dollar kept climbing to new highs as easing packages around the world are being dished out by governments and central banks acting with all they have to try preventing a health crisis and economic one as well. Overview No faith in markets or guidance on when things can stabilize have stocks at their lowest levels since February 2017 and the energy sector has lost half of its value this month alone. Everything is in the red except for the buck...

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In a notice to be published in the Federal Register of March 19, 2020, the Office of the United States Trade Representative (“USTR”) announced extensions for certain soon to expire exclusions from the China 301 List 1 tariffs (the $34 billion trade action). To date, ten sets of exclusions have been issued in connection with List 1. The second set of exclusions is scheduled to expire on March 25, 2020.  The USTR has announced that the expiring exclusions on the...

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Wilson Sonsini outlines frequent questions regarding the coronavirus (COVID-19) and your business functions.   The novel coronavirus (COVID-19) is affecting all aspects of our clients' businesses, not to mention their personal lives. We are fielding numerous legal and practical questions in many different substantive areas and will continue to monitor developments and best practices as we help our clients navigate through these issues. Do not hesitate to discuss these and other topics with your regular Wilson Sonsini contacts, who can help...

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As local governments seek to stop the spread of the novel coronavirus (COVID-19), states, counties and cities have issued executive orders, recommendations and mandatory restrictions that limit business operations and public gatherings. Specific examples appear below. These pronouncements are constantly changing and subject to various, sometimes conflicting “clarifications." In deciding whether your business should close, you should check the following: • Nature of the business: Restaurants and entertainment venues are getting the lion’s share of regulatory attention. • Essential vs. nonessential:...

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