5 June 2020
The U.S. Senate yesterday unanimously passed the House of Representative’s Paycheck Protection Program Flexibility Act (H.R. 7010), which now goes to President Trump for his expected signature. The Act’s significant amendments to the Paycheck Protection Program (“PPP”) loan program include the following: Borrowers have until December 31, 2020 to spend PPP funds. Borrowers can have…
4 June 2020
June 2020 – Brazil – Rossetti Advogados The Central Bank of Brazil (“Bacen”) and the National Monetary Council (“CMN”) jointly enacted Joint Resolution No. 01, of May 4, 2020 (“Joint Resolution”), setting forth the basic rules for implementation of the Open Financial System (“SFA”) or, as known, the “Open Banking” model in the National Financial System. The…
18 May 2020
纳斯达克对受限市场公司 提议新增挂牌要求 On May 18, 2020, Nasdaq Stock Market (“Nasdaq” or the “Exchange”) filed three proposals with the Securities and Exchange Commission (“SEC”) to (i) apply additional initial listing criteria for companies primarily operating in “Restricted Market” (defined below), (ii) adopt a new requirement relating to the qualification of management or board of director for…
7 May 2020
May 2020 – Brazil – Rossetti Advogados Due to the adversities caused by the Covid-19 pandemic, the Corporate and Integration Registration Department (DREI) published, on April 14, 2020, Normative Instruction No. 79 (“DREI Instruction No. 79”), which sets forth the rules for remote participation and voting in meetings of closely-held corporations, limited-liability companies and cooperatives,…
17 April 2020
Last year the New York City Council by a vote of 40-4 enacted Int. 1445-A (the “Law”), which amends the New York City Human Rights Law to prohibit employers and staffing firms from pre- employment drug testing for marijuana and THC (the active ingredient in marijuana). The Law will go into effect on May 10,…
13 April 2020
April, 2020 – Israel – Granot-Speiser Due to the COVID-19 outbreak, major limitations were imposed by the Israeli government. Some are obligations imposed on non-essential workplaces such as: function halls, restaurants, and gyms, to shut down their operations at their workplace entirely, other business such as: law firms and high tech companies need to reduce…
13 April 2020
In response to the COVID-19 pandemic, Governor Cuomo signed into law on March 18, 2020 the New York COVID-19 Sick Leave Law, S. 8901 (the “Law”). The Law, which was effective immediately, requires employers regardless of size to provide sick leave to their eligible employees who physically work in New York State. The sick leave…
3 April 2020
April, 2020 – Malta – Valletta Legal Changes to the Law – The addition of Quarantine Leave Following the Covid-19 outbreak, Government has published Legal Notice 62 of 2020; ‘Minimum Special Leave Entitlement (Amendment) Regulations, 2020’, adding a new definition of quarantine leave. By definition, an employer must grant quarantine leave if an employee is…
3 April 2020
Ortoli | Rosenstadt LLP – Paul H. Pincus – April, 2020
In response to the coronavirus pandemic (COVID-19), President Trump signed into law on March 18, 2020 the Families First Coronavirus Response Act, H.R. 6201 (the “Act”). This sweeping Act temporarily expands the federal Family and Medical Leave Act (“FMLA”) relating to COVID-19, creates a temporary federal paid sick leave program relating to COVID-19, expands unemployment insurance benefits, mandates insurance coverage of coronavirus testing, and expands nutrition and food assistance. This Legal Advisory focuses on the Act’s FMLA expansion and the paid sick leave program it creates, and includes the most recent attached guidance issued by the U.S. Department of Labor (“DOL”).
1 April 2020
April 2020 – Brazil – Rossetti Advogados Due to the Brazilian Provisional Measure No. 931, published on March 30, 2020, we report below the main changes that produce significant effects: Extension of the Term & Effects. The statutory term for the conduction of annual shareholders’ meetings and annual meetings of members to approve financial statements…
