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16 Oct 2020, 6:41 am by Hedge Fund Lawyer
 On August 26, 2020, the Securities and Exchange Commission (“SEC”) adopted amendments to the “accredited investor” definition under Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), which include additional categories of natural persons or entities who may qualify as accredited investors. [read post]
12 Oct 2020, 3:01 pm by Kevin LaCroix
A SPAC is a “Special Purpose Acquisition Company,” an entity with no commercial operations formed for purposes of raising capital to be used to acquire an existing business. [read post]
3 Oct 2020, 5:50 am by Russell Knight
However, the grounds for the petition shall be limited to a dispute concerning: (1) whether the parties’ written agreement providing an alternative arrangement to immediate withholding under subsection (a) of Section 20 continues to ensure payment of support; or (2) the identity of the obligor” 750 ILCS 28/30(c) Because most withholding occurs after the obligor has fallen into arrears and can no longer be trusted to pay on time “it shall not be… [read post]
  Effective July 1, 2020, the corporate franchise tax levied on small business corporations is suspended, including the initial tax levied on corporations or other entities for the first accounting period in which the entity becomes subject to the corporation franchise tax.[8] This suspension applies to small business corporations for taxable franchise periods beginning between July 1, 2020 and June 30, 2021. [read post]
28 Sep 2020, 12:45 pm by Kamran Mirrafati and Michael F. Ryan
COVID-19 supplemental paid sick leave under AB 1867 must be paid at an hourly rate at the highest of:  (1) the regular rate of pay for the last pay period, (2) state minimum wage, or (3) local minimum wage. [read post]
24 Sep 2020, 9:02 pm by Joanna L. Grossman
But a bill just passed by the House of Representatives with strong bipartisan support would do just that.Under current law, employers with at least fifteen employees are bound by the Pregnancy Discrimination Act (PDA), which imposes two basic rules: (1) employers cannot make employment decisions based on pregnancy, childbirth, or related medical conditions; and (2) employers must treat pregnant workers at least as well as workers with other kinds of temporary disability, including… [read post]
24 Sep 2020, 8:23 am by Rene T. McNulty
(“ITT”) story was written last week with the CFPB’s announcement that it entered into a stipulated settlement with PEAKS Trust 2009-1 (“PEAKS”), a special purpose entity created in 2009 to purchase, own, and manage certain private student loans with students enrolled at ITT. [read post]
21 Sep 2020, 10:51 am by Colin Lachance
To that end, LIDI collaborates with public and private sector entities to advance public interest objectives in 4 key areas: 1) protection of personal privacy, including co-development with Private AI of intelligent de-identification machine learning models that differentiate between justice system participants and private citizens engaged as parties or witnesses; 2) data clean-up, normalization and enrichment; 3) development of free public legal apps; and 4) advancing… [read post]
18 Sep 2020, 1:38 pm by Sami Azhari
Convictions under §7206(1/2) carry possible penalties including fines up to $100,000 ($500,000 for corporations and other entities), 3 years in prison, or both, as well as the costs of prosecution. [read post]
14 Sep 2020, 3:44 am by Peter Mahler
July 2, 2020], is an example of such creative but unsuccessful boundary pushing. [read post]
11 Sep 2020, 3:00 am by Jim Sedor
Trump’s tendency to turn to the courts, and the legal issues that have stemmed from norm-breaking characteristics of his presidency, helps explain how he and his affiliated political entities have spent at least $58.4 million in donations on legal and compliance work since 2015. [read post]
27 Aug 2020, 9:53 am by Hedge Fund Lawyer
The amendments will become effective 60 days after publication in the Federal Register, which is expected within 1-2 weeks. [read post]
25 Aug 2020, 2:50 am by Colby Pastre
While 36 states have increased motor fuel tax rates over the last decade, the federal government has not updated the gas tax since 1993.[2] With the current funding program, the Fixing America’s Surface Transportation Act (FAST Act), expiring this year, Congress must decide how to pay for the Highway Trust Fund in the years to come. [read post]