Posts Categorized: Corporate

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 “Accredited Investor” and “Qualified Institutional Buyer”

Among the key thresholds under Regulation D and Rule144A for eligibility for investing in private securities offerings are the definitions of “accredited investor” and “qualified institutional buyer”.  In mid-December of 2019, the Securities and Exchange Commission approved, by a vote of 3-2, a proposal to revise these definitions.  The current categories and financial thresholds remain… Read more »

New Committee on Foreign Investment in the United States (“CFIUS”) Rules to Go Into Effect

On February 13, 2020, new CFIUS rules are scheduled to go into effect. The new rules have been adopted by the Treasury Department under the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) which increases the CFIUS authority to review and disallow investment in U.S. sensitive companies.  The rules also resulted in the exemption… Read more »

California Law Reclassifying Independent Contractors as Employees Takes Effect

On January 1, 2020, a new California Law, reclassifying independent contractors who meet certain criteria as employees instead, went into effect (except for workers’ compensation claims, with respect to which it will go into effect on July 1, 2020).  The new law, as has been widely reported, sets standards which are intended to make persons… Read more »

California Consumer Privacy Act to Go Into Effect January 1, 2020

On January 1, 2020, the California Consumer Privacy Act (the “CCPA”) will go into effect as previously reported.  The law will largely set the standard for data privacy in the United States as it will apply not just to California businesses over certain thresholds but to all businesses that do business in California, including internet… Read more »

FinCEN Extends and Expands Orders to Identify Beneficial Owners of All-Cash Real Estate Purchases

We reported previously that the U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”) had issued a Geographic Targeting Orders (GTOs”) originally in July 2016 ordering title insurance companies to identify the actual owners of limited liability companies used in all-cash purchases of high-end real estate ($3 million and greater) in certain cities.  FinCEN has now announced an extension… Read more »

CFIUS Guidelines for Mandatory Critical Technology Reporting

We previously reported on the updates made to the implementing legislation of the Committee on Foreign Investment in the United States (“CFIUS”) by the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”).  Among other things, FIRRMA mandated reporting of transactions that involve acquisition of critical technologies in the United States.  On October 11, 2018,… Read more »

CFIUS Update Passed by Congress

On August 1, 2018, the U.S. Senate passed the Foreign Investment Risk Review Modernization Act (“FIRRMA”) as part of the Defense Authorization Bill (Title XVII).  FIRRMA changes and updates the law setting up the Committee on Foreign Investment in the United States (“CFIUS”), which allowed CFIUS to review certain acquisitions by and mergers with foreign… Read more »