The CARES Act contains provisions that temporarily broaden unemployment assistance and tax rebates to cover more types of individual employees impacted by the Coronavirus pandemic who otherwise may not have been eligible for financial aid prior.
COVID-19: Emergency Financial Assistance for Illinois Small Businesses In the wake of the coronavirus pandemic, the Illinois Department of Commerce and Economic Opportunity (IDCEO) has created three programs offering emergency financial assistance to small businesses. Under these programs, Illinois businesses with fewer than 50 employees can apply for low- interest loans and grants. The first program has an April 1st deadline, so…
On March 14, 2020, the House of Representatives passed H.R. 6201, the Families First Coronavirus Response Act (“FFCRA”), after negotiation with the U.S. Secretary of Treasury. The Senate adopted the bill on March 18, 2020, which the President signed the same day. Under the terms of the legislation, the Act becomes effective no later…
The Denmark Tax Authority’s secret billion-dollar settlement in the dividend case with a group of New York backers is assessed by law and tax experts in the United States. Criticism from Lawrence Kamin partner Michael Wise and others is summarized in this TV2 News (Copenhagen, Denmark) article.
Since 1967, the Freedom of Information Act (“FOIA”) has provided the public the right to request access to records from any federal agency. Federal agencies are required to disclose any information requested under the FOIA unless it falls under one of nine statutory exemptions. FOIA Exemption 4 of the 5 U.S.C. §552(b)(4) prevents mandatory…
When a registered representative (“Rep”) with a large book of customers voluntarily resigns from one firm to join another, the Rep’s old firm immediately assigns a replacement. Excited about the potential to keep the book, the replacement Rep frequently races to contact the customers and secure their business. And when some of those customers…
On March 21, 2019, the Illinois Supreme Court issued its long-anticipated decision in Van Dyke v. White, 2019 IL 121452. The 30-page opinion affirms the 2016 Appellate Court decision, which had overturned a Final Administrative Order from the Illinois Department of Securities…
Financial Services & Regulatory The complex regulations in the securities, futures, and financial industries are under continuous transformation. In order to remain compliant, respond to emerging regulatory requirements, and avoid regulatory scrutiny and reputational risk, businesses in these industries require proficient legal counsel with historic perception, depth and currency of knowledge, and a dedicated commitment […]
