News & Analysis as of

Certification Requirements New Guidance

BCLP

New SEC Staff Guidance on Verification of Investor Accreditation in Private Placements Involving General Solicitation

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On March 12, 2025, the SEC staff confirmed in a no-action letter that issuers may rely on high minimum investment levels, as well as investor self-certification of accredited status, in private offerings involving general...more

Troutman Pepper Locke

FERC Issues Final Rule on Clean Water Act Section 401 Water Quality Certification Requirements

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On November 21, 2024, the Federal Energy Regulatory Commission (“FERC”) issued a final rule establishing a categorical one-year “reasonable period of time” for certifying authorities to act on requests for water quality...more

Robinson+Cole Manufacturing Law Blog

OFCCP Issues Summer Guidance on Affirmative Action Certification Requirement for Federal Contractors

As most federal contractors are likely aware, this year marked the first year when covered entities were required to certify compliance with their annual affirmative action plan requirement using the new Contractor Portal of...more

Venable LLP

New Certification Requirements on the Horizon for CCOs: Certifying the Efficacy of Compliance Programs at the Conclusion of...

Venable LLP on

On Tuesday, March 22, 2022, Assistant Attorney General Kenneth Polite of the Department of Justice (DOJ) told an audience of compliance professionals that DOJ will direct prosecutors to "consider requiring" chief compliance...more

BCLP

OFFCP Starts the Clock for New AAP Contractor Portal Compliance

BCLP on

Yesterday, the Office of Federal Contract Compliance Programs (“OFCCP”) published guidance regarding implementation of the agency’s new system for federal contractors and subcontractors to enter, track, and submit affirmative...more

Ward and Smith, P.A.

Questions Raised by the PPP Loan Necessity Questionnaire

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Under the Paycheck Protection Program ("PPP"), borrowers who received a PPP loan in excess of $2 million, whether from a single loan or the combined total of loans from the borrowers' affiliates, have known for a while that...more

Moore & Van Allen PLLC

Treasury Department Again Issues New Guidance on PPP Loan “Necessary to Support Ongoing Operations” Certification

Moore & Van Allen PLLC on

On April 23, 2020, the Treasury Department issued updated guidance (“FAQ 31”) regarding a confusing aspect of the CARES Act’s popular Payroll Protection Program (“PPP”). A day later, on April 24, 2020, the Treasury...more

Woods Rogers

PPP Loan Forgiveness Application

Woods Rogers on

This Article is based on information available as of May 18, 2020.  The information is subject to change as additional guidance is provided. The SBA has now published its PPP Loan Forgiveness Application (SBA Form 3508) which...more

Tucker Arensberg, P.C.

The Small Business Administration Has Released Guidance on Several Important Payroll Protection Program Loan-Related Issues

Tucker Arensberg, P.C. on

Over the last several days, the Small Business Administration (the “SBA”) has provided some answers to questions that many borrowers have had, including: ..With the negative publicity that some borrowers have gotten, can...more

Lathrop GPM

Paycheck Protection Program (PPP) update, with our own “Frequently Asked Questions”

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Anyone closely considering or utilizing the PPP has undoubtedly heard about the U.S. Small Business Administration’s (SBA’s) so-called “Frequently Asked Questions” (FAQs) that the agency has been issuing and updating on a...more

Bradley Arant Boult Cummings LLP

SBA Extends PPP “Safe Harbor” to May 18

The Small Business Administration (SBA) issued a second update to its answers to frequently asked questions about the Paycheck Protection Program (PPP) on May 13, 2020. This update extends the “safe harbor” period for...more

Holland & Knight LLP

SBA Provides Safe Harbor for PPP Borrowers Receiving Less than $2 Million

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The U.S. Small Business Administration (SBA) has released guidance just one day before its safe harbor repayment deadline of May 14, 2020, to help a Paycheck Protection Program (PPP) borrower determine whether it lacked a...more

Harris Beach Murtha PLLC

Treasury/SBA Extend “Safe Harbor” Period to May 18, 2020

On May 13, 2020, the US Treasury and Small Business Administration released additional guidance regarding the Paycheck Protection Program loans, extending the “Safe Harbor” period for borrowers to return loans for which they...more

Womble Bond Dickinson

SBA Releases Updated Necessity Certification Guidance - Threshold for Reviewing PPP Loans Set at $2 Million

Womble Bond Dickinson on

After we issued the client alert below, the SBA also published FAQ #47 extending the date for the safe harbor period to return PPP funds to May 18, 2020. One day before the U.S. Small Business Administration’s (SBA)...more

Bowditch & Dewey

New Guidance on the PPP Necessity Certification Provides Automatic Safe Harbor for Borrowers with Loan Amounts Under $2 Million

Bowditch & Dewey on

Safe Harbor Deadline to Repay Loans of $2 Million or More Extended to May 18th - On May 13, 2020, the Treasury issued important and long-awaited FAQ guidance regarding the PPP applicant certification (referred to herein...more

Jackson Walker

SBA Offers Safe Harbor on PPP Good Faith Certifications of Necessity

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When submitting a Paycheck Protection Program (PPP) loan request, medical providers and all other borrowers must certify in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the...more

Downs Rachlin Martin PLLC

New SBA Guidance for Good Faith Certifications - Enforcement and Safe Harbors

CARES Act: Paycheck Protection Program Loans - In guidance issued in late April, after many Paycheck Protection Program (“PPP”) loans had already been funded and the proceeds were being spent, the SBA said borrowers needed...more

Goodwin

Financial Services Weekly Roundup: SBA Provides Guidance On Borrower’s Good Faith Certification

Goodwin on

In This Issue. The Small Business Administration (SBA) provided guidance on a borrower’s good faith certification on the necessity of Paycheck Protection Program (PPP) loan requests, announcing a safe harbor regarding this...more

Partridge Snow & Hahn LLP

SBA Issues Additional Guidance on PPP Loan Certification Requirements

On May 13, 2020, the SBA revised its frequently asked questions and added question #46 – “How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?” In order to receive a...more

Mintz - Energy & Sustainability Viewpoints

SBA Issues Additional Guidance Regarding “Necessity” Certification Required under the CARES Act

Today the Small Business Administration (SBA) issued additional guidance with respect to the “necessity” certification required under the CARES Act in connection with the Paycheck Protection Program (PPP). The relevant...more

Dentons

PPP Money: Demonstrating You Meet the SBA Requirements

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created the Paycheck Protection Program (PPP), authorizing certain businesses to apply for loans, a portion of which was eligible for forgiveness through the...more

Eversheds Sutherland (US) LLP

New guidance issued on Paycheck Protection Program; loans with original amounts under $2 million will be deemed in good faith

The Treasury and the Small Business Administration (SBA) today updated its set of Frequently Asked Questions (FAQs) with respect to the Paycheck Protection Program (PPP) established under the Coronavirus Aid, Relief, and...more

Nutter McClennen & Fish LLP

PPP Good Faith Certification Safe Harbor Announced by SBA

On May 13, the SBA published FAQ #46 in its continuing list of frequently asked questions, regarding the review of borrower’s good faith certification of the necessity of their loan request. Notably, the SBA announced that...more

Miles & Stockbridge P.C.

Small Business Administration Provides Welcome Guidance on PPP Loan Certification

On May 13, 2020, the U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury, provided the following critical guidance on the good-faith certification requirement for Payroll...more

Genova Burns LLC

SBA Finally Issues Anticipated Further Guidance on Borrower’s Good Faith for Certification of Necessity

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The Treasury Department has released an update of the Program FAQs for the Paycheck Protection Program, addressing Question 31, which had imposed a heightened, but uncertain, standard of need on borrowers, suggesting many may...more

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