On 5 May, German’s Constitutional Court (BVerfG) ruled in a long-awaited and controversial decision that the ECB’s ongoing government bond buying programme (PSPP) exceeded EU competencies, raising fundamental questions for the ECB and Europe’s legal order. In its ruling, the BVerfG’s argues that parts of the European Central Bank’s 2015 government bond-buying programme may be illegal under the Germany constitution. Through its ruling, which disregards and directly contradicts a previous European Court of Justice (ECJ) ruling, the BVerfG not just challenged the...

May 8, 2020 | Late last month, the Chairman and Ranking Member of the U.S. Senate Committee on Environment and Public Works (EPW), Senators John Barrasso (R-WY) and Tom Carper (D-DE), released draft water resources and drinking water legislation, a significant step in the biennial process to maintain and improve America’s water and wastewater infrastructure. The two bills, the America’s Water Infrastructure Act of 2020 (“AWIA 2020”) and the Drinking Water Infrastructure Act of 2020 (“DWIA 2020” and, together with AWIA 2020,...

May 7, 2020 | The tide turns as key sentiment indices show compelling reversal insignia reflecting phase ‘opendown’ and rising prophylactic optimism. Key Takeaways • Media hype for covid-19 edges below the key 50% level • Worldwide news sentiment surges higher as optimism returns • Using insider trading data on our platform can help traders time market turns CONTINUE READING... The free Coronavirus News Monitor can be accessed on https://coronavirus.ravenpack.com/ Compliments of RavenPack International SL - a member of the EACCNY.

May 6, 2020 | The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, has provided updated guidance on how to count employees in foreign affiliates for the purposes of determining the 500 or fewer employee size standard for the Paycheck Protection Program (PPP). In the Interim Final Rule dated April 2, 2020 and in Frequently Asked Question 3 (FAQ 3) released on April 6, 2020, the SBA modified the 500 or fewer employee size standard with the...

Updated May 6, 2020 | On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law, providing an estimated $2 trillion stimulus package to address the COVID-19 pandemic. Although the CARES Act has a number of employment-related provisions (as discussed here), a central piece of the legislation expands existing unemployment insurance programs, making far more individuals eligible and providing greater benefits than existing programs. As employers consider workplace actions during this time of...

May 5, 2020 | On May 5, the Treasury Department and SBA released FAQ #43 extending the Paycheck Protection Program (PPP) safe-harbor repayment date from May 7 to May 14. Thus, any PPP borrower who repays their loan by May 14, 2020 will be deemed to have made the required economic need certification on the SBA loan application in good faith. On the loan application, borrowers certify that “urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”...

May 5, 2020 | Osborne Clarke has just released its most recent thought leadership piece titled: “Transforming the way we live – A roadmap for taking Alternative Residential mainstream“. The report is based on interviews of real estate industry experts, combined with the views of Osborne Clarke clients. The ways in which we live are changing and Alternative Residential (AR) assets have an important role in delivering this change. AR assets include multifamily (known as ‘build-to-rent’ in the UK and referenced...

The Office of the U.S. Trade Representative (“USTR”) has issued a notice requesting comments on whether certain soon to expire China 301 tariff exclusions should be extended. The exclusions at issue are those described in the 11 List 3 product exclusion notices issued as of March 26, 2020.  These exclusions are scheduled to expire on August 7, 2020. Links to each of the 11 product exclusion notices at issue can be found below: Exclusions Granted August 7, 2019 Exclusions Granted September 20,...