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Additional Money and Coverage of CARES Act

On April 23, 2020, the federal House of Representatives followed the Senate in passing the nearly $400 million new coronavirus support bill, including another $310 billion for the Paycheck Protection Program (the “PPP”) established by the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act passed in March, and an increase in the Economic Injury Disaster... Read more »

SEC Will Begin Examining Compliance With Reg BI After June Implemetation Date

On April 7, 2020, the Office of Compliance Inspections and Examinations (the “OCIE”) of the Securities and Exchange Commission (the “SEC”) issued a Risk Alert to tell broker-dealers that it would begin to examine them for compliance with Regulation BI (Best Interest) (“Reg BI”) after the June 30, 2020, implementation date. This effectively means that... Read more »

CARES Act Programs for Small Businesses

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was signed into law. This enormous law was intended to provide support for businesses and individuals affected by the Coronavirus epidemic. The adoption of the law was followed by regulations and guidance with respect to the programs for relatively small... Read more »

SEC Proposes Revisions to Exempt Offering Rules

On March 4, 2020, the Securities and Exchange Commission (the “SEC”) issued a proposal to revise the exempt offering rules under Regulation D (exempt offerings) and Regulation S (offshore offerings) of the Securities Act of 1933 largely to make it easier to conduct such offerings.  The proposals include, among other things: While Rule 506(c) under... Read more »

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