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COVID-19: Temporary Form ADV and Form PF Relief Period Extended to June 30, 2020

On March 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued an exemptive order (the “Updated Order”1) expanding the temporary regulatory relief from certain Form ADV and Form PF requirements previously granted under its March 13, 2020 exemptive order (the “Original Order”) to investment advisers whose operations may be disrupted by the outbreak of…

Client Alerts | April 2, 2020 | Investment Management

TALF 2.0: Fed Revives Term Asset-Backed Loan Facility

On March 23, 2020, the Federal Reserve Board (the “Fed”) authorized the revival of its Term Asset-Backed Loan Facility (“TALF 2.0”) previously established following the 2008 financial crisis. TALF 2.0 is a credit facility intended to support the asset-backed securities (“ABS”) markets for consumers and businesses by creating a new source of stable funding for investors…

Client Alerts | April 1, 2020 | Special Situations and Credit | Private Equity Funds

The Force May Be With You: COVID-19 and Force Majeure Provisions

COVID-19 has caused major disruption to businesses, commerce and the financial markets. With the CDC and WHO projecting that the coronavirus is only in its early stages in the United States, businesses and individuals may feel the burden of the effects of COVID-19 for the foreseeable future. As the flow of goods and services continues…

Client Alerts | March 31, 2020 | Securities and Corporate Finance | Commercial and Corporate Litigation

Material Corporate Provisions of the CARES Act

In response to the recent outbreak of a novel coronavirus, COVID-19, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law on Friday, March 27, 2020. The CARES Act provides (I) unemployment assistance, (II) limits on paid leave requirements that were established in the Families First Coronavirus Response Act…

Client Alerts | March 30, 2020 | Securities and Corporate Finance | Mergers & Acquisitions

Summary of Key Tax Provisions for Individuals and Businesses under the CARES Act

The Coronavirus Aid, Relief, and Economic Security Act ( the “CARES Act”) was signed into law on Friday, March 27, 2020.  The CARES Act contains a number of tax provisions which modify the Internal Revenue Code of 1986, as amended (the “Code”).  The provisions are designed to provide relief and assistance to both individuals and…

Client Alerts | March 30, 2020 | Business Advice and Planning | High Net Worth Individual Planning

Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: The Force May Be With You: COVID-19 and Force Majeure Provisions (March 31, 2020): How and if businesses should consider exploring the invocation…

Client Alerts | March 30, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Mergers & Acquisitions | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

Summary of SBA 7(A) Loans under the Coronavirus Aid, Relief, and Economic Security Act

President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law on Friday, March 27, 2020. Under the CARES Act, select small businesses are able to receive Small Business Administration (“SBA”) loans in the form of 7(a) loans (the “Loans”), which under the CARES Act are low interest loans from…

Client Alerts | March 28, 2020 | Securities and Corporate Finance | Mergers & Acquisitions

Estate Planning Considerations and COVID-19

As the novel coronavirus (“COVID-19”) continues to affect almost all areas of life, the Kleinberg Kaplan Trusts & Estates Practice Group is monitoring developments that may impact our clients’ estate planning. As always, the health, safety and wellbeing of our clients and their families are of paramount importance to us. In light of the current situation,…

Client Alerts | March 25, 2020 | Estate Planning and Administration

CFTC and NFA Extend CPO/CTA Filing Deadlines for Certain Filing and Reporting Requirements

On March 20, 2020, the Commodity Futures Trading Commission (the “CFTC”) provided temporary no-action relief to registered commodity pool operators (“CPOs”) by extending the filing timeline for certain ongoing reporting/filing obligations. The CFTC’s no-action letter provides an extension for the following:(i) filing Form CPO-PQR under Regulation 4.27, (ii) submitting pool annual reports under Regulations 4.7(b)(3)…

Client Alerts | March 24, 2020 | Derivatives