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GeneralNewsAlerts

Congress Passes CARES Act – Includes Paycheck Protection Loan Provisions

March 28, 2020

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was passed by the U.S Senate on March 25, 2020, and by the U.S. House of Representatives on March 27, 2020.  President Trump has signed the bill into law and Steve Mnuchin, the U.S. Secretary of the Treasury, has indicated that the administration will move quickly to formulate rules implementing the legislation as early as April 3, 2020.

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GeneralNewsAlerts

Senate Passes $2 Trillion Stimulus

March 27, 2020

The Senate passed a $2.2 trillion stimulus package to help states, businesses and individuals counter the negative economic impacts of the coronavirus, with the House expected to pass the bill today. The plan will provide, among other things, direct payments to individual taxpayers, loans and grants to assist distressed businesses and benefits for the unemployed. It is the largest stimulus package in modern U.S. history. The President is expected to sign the bill immediately.

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GeneralNewsAlerts

SBA Economic Injury Disaster Loans

March 26, 2020

In response to the impact of COVID-19, the Small Business Administration  (SBA) announced the availability of Economic Injury Disaster Loans.  While some business owners may be tempted to complete the SBA loan application on their own, a single misstep during this part of the process can cause serious problems down the road.

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GeneralNewsAlerts

SEC and COVID-19: Relief for Investment Advisers

March 26, 2020

On March 25, 2020, the Securities and Exchange Commission (“SEC”) superseded the original relief of March 13, 2020 it had provided to certain registered investment advisers and exempt reporting advisers that met the conditions of the relief regarding their obligations with respect to Form ADV and Form PF.

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