Member News

Orrick: U.S. Companies Nearing Deadline to Report on Direct Investment Holdings Abroad

May, 2020 | And U.S. companies continue to be required to report after closing of acquisitions by foreign entities of 10%-or-more of their voting equity The U.S. Department of Commerce’s Bureau of Economic Analysis (“BEA”) collects statistics related to U.S. international investment and trade in services. This alert summarizes a current BEA reporting requirement related to U.S. investment abroad and key BEA reporting requirements related to foreign direct investment in the United States. These requirements are independent of filings with and proceedings...

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Member News

Vulcan Insight: France and Germany propose €500 Billion Eurobonds

May 21, 2020 | German Chancellor Angela Merkel and French President Emmanuel Macron presented a joint initiative for a €500 billion coronavirus Recovery Fund to kickstart Europe’s economic recovery. In a surprise move for the German Chancellor, however, the fund is to be financed through mutual debt, i.e. Eurobonds. The proposal is a u-turn by Germany which had been one of the most ardent opponents of any mutualisation of national debt at the EU-level over fears that it may be called upon should...

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Chapter News

EACCNY #COVID19 Impact Stories from Our Partners – Phil Hogan, the EU Trade Commissioner

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Phil Hogan, the Trade Commissioner for the European Union based in Brussels. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have...

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Chapter News

Results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

May 19, 2020 | • Credit terms remained broadly unchanged for almost all counterparties but are expected to tighten significantly the next reference period • Financing collateralised by euro-denominated securities continued to decline • Valuation disputes saw a strong increase • Terms and conditions in secured financing and OTC derivatives markets were, on balance, broadly unchanged compared with one year ago Against the background of the emerging coronavirus (COVID-19) crisis during the latter part of the review period December 2019 to February 2020, price...

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Chapter News

CBO Releases Infographics About the Federal Budget in Fiscal Year 2019

April 15, 2020 | Each year, CBO releases a set of four budget infographics that provide a detailed look at the past fiscal year as well as broader trends over the past few decades. Today, CBO published the latest infographics showing the federal budget results in fiscal year 2019. These infographics help people understand how much the government spends and takes in each year and what programs and revenue sources account for the largest portions of those budgetary flows. You can view...

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Member News

CLA: PPP Loan Forgiveness Guidance: What We Like and Don’t Like

May 20, 2020 | Key insights • On May 15, the SBA issued the long-awaited PPP loan forgiveness application and instructions. • Most organizations should be able to include a full eight weeks’ worth of payroll and nonpayroll costs. • We believe there is much to like about the new guidance — but we have some dislikes as well. • As the lawmaking process continues to play out, we will post updates. On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was...

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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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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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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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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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