May 15, 2020 | As the global economy is buffeted by the fallout from the COVID-19 crisis, predictions of what it means for the future abound. Some argue that the regulation of global trade, including its institutions, requires a paradigm shift. Others contend that change must be carefully measured and neither disregard the benevolent intentions of liberalized trade, nor abandon hard-earned benefits. As a country that depends on international trade for our prosperity, the stakes for Canada are alarmingly high. In...

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How are governments responding to the unprecedented challenge of the COVID-19 pandemic? This summary discusses the government initiatives for employers and workforces (the people), as well as the government financial support initiatives for businesses (finance and funding) throughout Europe. On People: What support have governments offered for employers, employees and the self-employed? On Finance and Funding: Governments across the world have offered financial assistance to help businesses cope with the economic effects of COVID-19. This might be in the form of loans, grants,...

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May 15, 2020 | In response to the COVID-19 crisis, many employers have been faced with the difficult task of taking short-term measures to preserve long-term viability. Measures taken include layoffs, furloughs, reduced work schedules, and work-from-home arrangements. These actions have ripple effects that impact employer-sponsored benefits provided to employees. In addition, responsive measures adopted under the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and by the Internal Revenue Service (IRS)...

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May 15, 2020 | • EUR 880 million for COVID-19 business resilience and public health • EUR 1.2 billion for private sector and corporate research and development investment • Investment program for the artificial intelligence sector across Europe The European Investment Bank today approved EUR 3.4 billion of new financing to support companies most affected by the COVID-19 pandemic and priority public health projects, alongside energy, transport, water and education projects across Europe and around the world. Meeting by video conference, the EIB Board...

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May 16, 2020 | On May 15, 2020, the SBA released the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application and accompanying instructions. PPP borrowers must complete this application at the end of the eight-week covered period in order to obtain forgiveness of eligible expenses. Borrowers are required to submit the PPP Loan Forgiveness Calculation Form and a PPP Schedule A along with the Loan Forgiveness Application and supporting documentation to their lender. The SBA advised that additional regulations and guidance will...

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May 15, 2020 | One week after the German constitutional court’s (BVerfG) ruling that part of the European Central Bank’s sovereign bond-buying programme may be illegal under the German constitution, the ruling continues to reverberate across the EU’s political, economic and legal circles. The political repercussions to the Karlsruhe-based Court were immediate, with both the European Commission and ECB taking note of the ruling and arguing that the BVerfG had no jurisdiction on the matter and reiterating the supremacy of EU law...

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May 14, 2020 | On April 21, 2020, the European Data Protection Board (EDPB) published two sets of guidelines addressing data processing in the context of the COVID-19 pandemic. These guidelines address the use of location data and contact tracing tools to combat the spread of COVID-19 and the use of health data for the purposes of scientific research into COVID-19 (together, the guidelines). Since March 2020, the EDPB and the European Commission (EC) have been active in addressing the use of data to combat...

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March 18, 2020 | In a national effort to curtail the spread of COVID-19, we are witnessing the rise of the remote workforce. While companies are focusing on ways to protect their employees, clients and families, cyber attackers are infiltrating insecure cybersecurity postures. CyZen’s advisors have been closely monitoring the rise in COVID-19-related cyber-attacks. Our experts have witnessed spearphishing campaigns and new forms of malware being spread through documents using the name, “coronavirus.” Knowing that largescale telecommuting is uncharted territory for...

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May 5, 2020 | Key insights • Developing business continuity and preparedness plans can help employees return to work safely and successfully and may help everyone to be better prepared for the future. • Immediate priorities should include revising employee handbooks and policies related to time off and remote work. • Transparency in decision-making may help organizations embrace change successfully. • Communication — what information and how it is delivered — has never been more important. COVID-19 has driven changes into the world of work...

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