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Showing 26 posts from March 2020.

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SEC Announces Temporary Regulatory Relief for Market Participants Affected by Coronavirus

In a press release distributed late last week, the United States Securities and Exchange Commission announced that it will be providing additional temporary regulatory assistance to market participants affected by the novel coronavirus (COVID-19). The relief covers three specific spheres: (1) parties needing to gain access to make filings on the EDGAR system; (2) company filing obligations under Regulation A and Regulation Crowdfunding; and (3) a filing requirement for municipal advisors.

The SEC notes that its staff will continue to closely track developments and, if appropriate, consider additional relief from other regulatory requirements for those affected by the pandemic. In the meantime, Michelman & Robinson breaks down the agency’s latest moves in Q&A format. (Read More)

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Large Employers Required to Pay Coronavirus-Related Sick Leave Under New L.A. Ordinance

Federal and state governments are not the only ones protecting employees suffering as a result of the COVID-19 outbreak. Los Angeles has followed suit, with its City Council passing a supplemental paid sick leave ordinance of its own. The law now awaits signature by Mayor Eric Garcetti. In the meantime, Michelman & Robinson answers the questions L.A.-based employers are sure to have about the new law. (Read More)

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DOL Is Requiring Employers to Post Families First Employee Rights Notice

As Michelman & Robinson previously reported, certain employers must provide their employees with paid sick leave and expanded family and medical leave for reasons related to the COVID-19 pandemic—this according to the recently passed Families First Coronavirus Response Act. Now, the U.S. Department of Labor is requiring that employers covered by the Families First Act post information about its benefits in poster form. M&R fleshes out the DOL mandate. (Read More)

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Attention Insurers: CDI Orders Mandatory Call for Business Interruption Coverage Information in the Wake of COVID-19

In response to the evolving situation presented by the coronavirus pandemic, California Insurance Commissioner Ricardo Lara has circulated a notice to all admitted insurance companies in California, as well as non-admitted carriers doing business in the state, requesting information about business interruption and related coverage. More specifically, the CDI has issued an urgent data survey to better understand the number and scope of business interruption insurance coverages in effect in California and to approximate the number of those policies that exclude viruses such as COVID-19. (Read More)

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Insurance Coverage Potentially Triggered by COVID-19

While the coronavirus pandemic has yet to peak, the outbreak has already left its mark in countless ways, one of which is its impact on businesses, large and small, and the people operating them. Losses related to COVID-19 are occurring at breakneck speed, which leaves many wondering: might some of these hits be covered by insurance? Here, Michelman & Robinson answers some of your coverage questions. (Read More)

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HHS Relaxing Enforcement of HIPAA to Facilitate Sharing of Information During the COVID-19 Crisis

HIPAA—the Health Insurance Portability and Accountability Act of 1996—established a set of national standards to protect the privacy of a person’s physical or mental health or condition, and the health care provided to that individual. In fact, HIPAA’s privacy rules directly address the use and disclosure of a patient’s health information by health care providers, group health plans, and others. But in the shadow of the coronavirus (COVID-19) pandemic, HHS (the U.S. Department of Health and Human Services) has taken steps to ensure that hospitals and health care professionals are shielded from punishment when they share a patient’s coronavirus-related information without that patient’s prior approval, despite applicable HIPAA restrictions. Michelman & Robinson explains. (Read More)

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IRS Releases “People First Initiative” Temporarily Adjusting and Suspending Key Compliance Actions

The Internal Revenue Service continues to respond in the wake of the COVID-19 pandemic. On the heels of the decision to move tax day to July 15, the agency has taken additional measures to relieve taxpayer burdens.

In News Release IR-2020-59, the IRS announced its “People First Initiative” that, among other things, eases certain payment guidelines and postpones compliance actions. M&R provides the details here in question and answer form. (Read More)

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A Comprehensive Guide to Understanding Coronavirus-Related State Assistance Programs: Who is Giving What to Whom (Part II)

Having taken a deep dive yesterday into the CARES Act and other measures recently taken at the federal level to ease the economic pain inflicted by the coronavirus pandemic, Michelman & Robinson now turns its attention to state assistance packages. An overview of relief programs in California, Illinois, New York and New Jersey—along with some miscellaneous funding initiatives—follows. (Read More)

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The Stimulus Package and Its Impact on Employers and Employees

As anticipated, the Senate unanimously passed the $2T coronavirus stimulus package. We now await expected passage by the House of Representatives followed by President Trump signing the legislation—known as the Coronavirus Aid, Relief, and Economic Security Act (read: CARES Act)—into law, though that likely will not happen until Friday, March 27 at the earliest. (Read More)

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A Comprehensive Guide to Understanding Coronavirus-Related Federal Assistance Programs: Who is Giving What to Whom

On Wednesday, March 25, the Senate approved a massive $2T economic stimulus package to provide a jolt to an economy reeling from the coronavirus pandemic. This legislation, known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act, represents the largest emergency aid package in U.S. history. It will next go to the House of Representatives for a vote, and then if passed there as anticipated—to President Trump for signature, though that is not expected to happen until Friday, March 27, at the earliest. (Read More)