The Standard Formula Podcast | Developments on the Horizon for the UK Change-in-Control Regulatory Regime
Amendments made by the California Office of Health Care Affordability (OHCA) to its cost and market impact review (CMIR) regulations became effective on Aug. 22, 2024, and serve to expand the scope of the Health Care Quality...more
The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions. On July 30, 2024, the Board of...more
Earlier this year, California Assembly Speaker Pro Tempore Jim Wood and Attorney General (AG) Rob Bonta sponsored and introduced California Assembly Bill (AB) 3129, which would subject a large swath of healthcare transactions...more
Mergers and acquisitions bring lots of financial opportunity, but they can sometimes result in upheaval in the workforce as the new entity determines whether it will operate business differently from its predecessor. If the...more
The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September...more
As of August 11, 2022, approval is now required by the UK Financial Conduct Authority (FCA) before acquiring direct or indirect control of an FCA-registered cryptoasset business. Failure to attain such approval is a criminal...more
On April 19, 2022, The New York Superintendent of Financial Services, noting the increase in the number of insurance company mergers and acquisitions in recent years, issued Circular Letter No. 5 (guidance) to educate...more
There have been a number of key developments in the evolution of the UK’s national security regime since our e-bulletin earlier this year (UK to Adopt New Powers Over M&A Activity To Protect National Security). First and...more
Find out what goes into the transfer of a refinery asset and why post-acquisition integration is where true value is delivered to the buyer....more
On October 2, 2020, the U.S. Small Business Administration (the “SBA”) issued Procedural Notice (5000-20057), titled “Paycheck Protection Program Loans and Changes of Ownership” (the “Notice”). The Notice sets forth the steps...more
The Payroll Protection Program has been a lifesaver to many businesses this year, but its quick roll out, and many generous features (including potential forgiveness) could tempt a borrower to treat the PPP as something less...more
As the pandemic continues to change the economic landscape, financial services companies and investors may be looking to make strategic acquisitions. Among the numerous business and legal considerations that go into those...more
Most state mortgage finance, consumer credit, collection agency, sale finance, and money service business licensing laws have a provision that dictates what needs to be done or what needs to be filed in connection with the...more
In the SBA Procedural Notice dated October 2, 2020 (the “Approval Notice”), the Small Business Administration (“SBA”) has issued mandates that may impact the ability of a recipient of a Paycheck Protection Program (“PPP”)...more
The Small Business Administration (SBA) recently released a procedural notice concerning when a borrower of a Paycheck Protection Program (PPP) loan may forgo SBA approval in connection with a merger or acquisition. The...more
The Small Business Administration recently published a procedural notice on changes of ownership for PPP borrowers. One specific area where we’ve seen confusion is whether the procedural notice requires a buyer to assume all...more
As previously discussed, on October 2, 2020, the SBA published Procedural Notice 5000-20057 addressing Paycheck Protection Program Loans and Changes of Ownership. Based on a review of memos on the subject by other law firms...more
The Paycheck Protection Program (the “PPP”) created under the CARES Act has provided much needed assistance to millions of businesses and other organizations operating in the United States that have been impacted by the...more
After several months of uncertainty, businesses are carefully resuming merger and acquisition transactions. Many (if not most) small businesses took advantage of the Paycheck Protection Program (PPP), but, as forgiveness is...more
No. On October 2, the Small Business Administration published a procedural notice on changes of ownership for PPP borrowers. One specific area where we’ve seen confusion is whether the procedural notice requires a Buyer to...more
Unforgiven Paycheck Protection Program (PPP) loans have created a great deal of consternation for PPP borrowers looking to engage in merger and acquisition (M&A) transactions, as well as other asset sale, equity and...more
On October 2, 2020, the SBA released a guidance relating to whether the SBA will be required to consent to a “change in ownership” of a business. A “change in ownership” is deemed to be any of the following...more
Cyber due diligence is quickly becoming the “new normal” for buyers in M&A transactions as they seek to protect themselves against cyber risk. Cyber due diligence, however, is only part of the solution. Many sophisticated...more
Employees drive the success of a company. In fact, in some industries (technology, for example) talent acquisition can be a primary motivation for a transaction. From identifying the target’s key employees, to assessing the...more