News & Analysis as of

Safe Harbors Certifications

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Expands Universe of “Accredited Investors”

An expanded universe of individuals and entities will be able to participate as “accredited investors” in securities offerings as a result of recent SEC rulemaking. The SEC has expanded its definition of “Accredited...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #7

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Bradley Arant Boult Cummings LLP

IRS Issues Helpful Guidance for Retirement Plans Under the CARES Act

The Internal Revenue Service (IRS) recently issued Notice 2020-50 to provide retirement plans with guidance under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The extensive guidance provides helpful...more

Pillsbury Winthrop Shaw Pittman LLP

The Main Street Lending Program: Additional Guidance for Borrowers

Companies that may want to borrow under the Main Street Lending Program should take note of additional guidance recently issued by the Federal Reserve Bank of Boston. The Federal Reserve Bank of Boston has issued further...more

Lowenstein Sandler LLP

SBA Announces: “SBA may begin a review of any PPP loan of any size at any time in SBA’s discretion” & DOJ Announces Multiple...

Lowenstein Sandler LLP on

Between May 20 and May 22, SBA announced three new Interim Final Rules and the U.S. Department of Justice (DOJ) announced three new fraud prosecutions stemming from PPP loans. Those prosecutions reflect that the DOJ does not...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Real Estate and Construction Industry - Update #2

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”) and the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE...more

Verrill

Should You Adjust Your Plans Based on the New PPP Forgiveness Guidance?

Verrill on

Your inbox is likely flooded with news about the forgiveness guidance from the Small Business Administration (SBA) that came in the form of instructions on how to fill out the application. These instructions provided much...more

Pillsbury Winthrop Shaw Pittman LLP

SBA Issues Critical New Guidance on PPP Borrowers’ Certification of Necessity

On May 13, 2020, one day before the expiration of the relevant “safe harbor” deadline, the Small Business Administration (SBA) issued new guidance to borrowers who have been considering whether to return their CARES Act...more

Bass, Berry & Sims PLC

Overview of New SBA and IRS Guidance Regarding Paycheck Protection Program, Including the “Need” Certification and PPP Loan...

This alert has been updated to reflect further guidance issued by the Small Business Administration (SBA) on May 5, 2020 indicating that forthcoming rule changes will extend the repayment date for the safe harbor discussed...more

Downs Rachlin Martin PLLC

Public Outcry Leads to New SBA Guidance on PPP Eligibility

Following criticism that large restaurant chains were able to obtain funds before the loan program had been depleted - seemingly shutting out much smaller restaurants - Shake Shack has publicly announced that it is returning...more

Robinson+Cole Data Privacy + Security Insider

FTC settles false safe harbor allegations with thirteen companies

The FTC has made it clear over the past year that it is serious about companies’ compliance with the US-EU and US-Swiss safe harbor programs, and has publicly stated that it is randomly reviewing company websites to ensure...more

BakerHostetler

Texas to Launch Nation's First Privacy and Security Certification "Safe Harbor"

BakerHostetler on

The Texas Health Services Authority (THSA) recently announced its selection of the Health Information Trust Alliance (HITRUST) Common Security Framework (CSF), the most widely adopted information privacy and security...more

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