July 2020

SEC Adopts New Rules for Proxy Advisory Firms

On July 22, 2020, the Securities and Exchange Commission (“SEC”) amended the Federal proxy voting rules (“Regulation 14A”) to require proxy advisory firms, such as ISS and Glass Lewis, to comply with additional disclosure and procedural requirement…

Congress Extends Deadline to Apply for Paycheck Protection Program Loans

With the deadline for businesses to apply for loans under the Small Business Administration’s Paycheck Protection Program (“PPP”) passing on June 30th, Congress voted on Wednesday, July 1st to extend the deadline for submitting PPP loan applications …

June 2020

SBA Releases Updated PPP Loan Forgiveness Applications and Instructions, Amends Existing Rules Based on PPPFA – Key Takeaways for Borrowers

This article was updated on June 24, 2020 to reflect changes to the PPP made by the new Interim Final Rule issued by the SBA on June 22, 2020 (the "June 22 Interim Rule"). A borrower may submit a loan forgiveness application before the end of the borrower…

SEC Releases Order Granting a Temporary Exemption for Municipal Advisors Soliciting Banks to Place Bonds

On June 16, 2020, the Securities and Exchange Commission issued an Exemptive Order in Release 34-89074 to temporarily permit registered municipal advisors (MAs) to solicit banks and other financial institutions in connection with the direct placement of ce…

Federal Reserve Opens Lender Registration for Main Street Lending Program and Announces Main Street Loan Options for Nonprofit Organizations

On June 15, 2020, the Federal Reserve announced that lender registration for the Main Street Lending Program is now open. Lender registration instructions, as well as the form documentation relating to this program, are available here. The Federal Reserve …

U.S Supreme Court Issues Landmark Decision on Discrimination in the Workplace for LGBTQ Workers

On June 15, 2020, the United States Supreme Court issued an opinion in Bostock v. Clayton County, Georgia holding that Title VII of the federal Civil Rights Act of 1964 prohibits firing an employee simply because the individual is gay or transgender.The 6-…