In 2015, the New York Department of Financial Services (NYDFS) finalized rules creating the BitLicense for virtual currency exchanges operating in New York state. New York is currently the only
Continue Reading New York State Department of Financial Services Proposes Framework for a Conditional BitLicense
On June 22, 2020, in Liu v. SEC, the Supreme Court affirmed in an 8-1 ruling that the Securities and Exchange Commission may continue to pursue disgorgement awards under
Continue Reading SEC Disgorgement Lives to See Another Day After Supreme Court’s Liu v. SEC Ruling
On May 20, 2020, the Office of the Comptroller of the Currency (OCC), which regulates national banks, released a Final Rule intended to strengthen and modernize the implementation of the
On June 3, 2020, Congress passed the PPP Flexibility Act to loosen requirements for loan forgiveness for CARES Act Paycheck Protection Program (PPP) borrowers. The new forgiveness rules will allow
Continue Reading Congress Passes the PPP Flexibility Act
On May 22, the Small Business Administration and the Treasury Department released its latest guidance in the form of two interim final rules on loan forgiveness: “Business Loan Program
Continue Reading PPP Loan Forgiveness: What the Latest Guidance Means for You
This evening the SBA issued new FAQ 47 extending the repayment date for the safe harbor to May 18, 2020. View the full FAQs here.
For more information and
Continue Reading SBA Extends PPP Repayment Date for Safe Harbor to May 18
This morning the SBA issued an important new FAQ 46 on how it intends to review the good faith necessity certification required for PPP loans. The safe harbor for return
Continue Reading SBA Issues FAQ Guidance on PPP Good Faith Necessity Certification
Many counterparties are dealing with the impact of market volatility, unprecedented margin calls and the combined effects on their financial contracts, many of which are active master agreements executed years
Continue Reading Prioritize Monitoring Financial Contracts
On March 4, 2020, the Securities and Exchange Commission (SEC) announced its proposal to harmonize, simplify, and improve the exempt offering framework under the Securities Act of 1933 (the “Securities
Continue Reading Exempt Offering Framework Amendment Proposal