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In house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.
With the growing spread of the Coronavirus (COVID-19) in recent weeks, many government agencies have taken steps to mitigate the impact on individuals and businesses. At The National Law Review, we're dedicated to making all of the latest legal news around this global health crisis available to both legal professionals and the general public.  

You can access Coronavirus-related news on our Coronavirus News page, updated hourly. 
 
 
 
 
On December 23, 2020, the U.S. Department of Commerce Bureau of Industry and Security (BIS) issued the anticipated list of designated military end users (MEU List) under Section §744.21 (MEU Rule) of the Export Administration Regulations (EAR) Restrictions (see Federal Register notice). This MEU List provides a "first tranche" of over 100 designated military end users from China and Russia. Per Commerce Secretary Wilbur Ross, "this action establishes a new process to designate military end users on the MEU List to assist exporters in screening their customers for military end users".  More on Exporter Customer Screening Here  > 
 
 
 
Loans under the Payroll Protection Program (PPP) are eligible for forgiveness depending upon whether and when the loan proceeds are used for qualified business expenses. One of the benefits of this program is that there is no taxable income for the borrower upon loan forgiveness. While many borrowers were expecting to deduct business expenses as would be the case if there has not been a PPP loan, the US Department of the Treasury’s (Treasury) position has been that PPP expenses resulting in loan forgiveness cannot be deducted for federal income tax purposes due to the tax benefit rule under Code Section 265.  More PPP Expense Deductions Here >
 
 
 
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The Securities and Exchange Commission (the “SEC”) recently voted to propose temporary rules to permit companies to provide equity compensation to certain workers known as “gig” or “platform” workers.
Under the Securities Act of 1933 (the “33 Act”), every offer or sale of securities must be registered with the SEC unless the issuer relies upon an exemption to such registration. Recognizing that the offers or sales of securities in the form of equity compensation differ from the regular process of raising capital from investors, a limited exemption is provided to issuers under Rule 701 of the 33 Act. Rule 701 currently exempts certain sales of securities by private companies made to compensate employees, consultants, and advisors. More on Equity Compensation for Gig Workers Here >
 
 
 
On December 21, 2020, Congress passed a massive bill (H.R. 133) that would fund the federal government for the remainder of fiscal year (FY) 2021 while also providing $900 billion in COVID-19 economic relief for employers and individuals. President Trump signed the bill into law on December 27, 2020. Coming in at a total cost of $2.3 trillion and a page count approaching 6,000, in some ways it is easier to explain what is not in the bill, rather than what is covered by the bill. Nevertheless, below are some of the key provisions of the legislation of importance to employers. More on the COVID-19 Relief Bill Here >
 
 
 
The President’s Working Group (PWG), a federal interagency working group of financial regulators established by Executive Order in 1988, has issued a statement outlining key regulatory and supervisory considerations related to stablecoins and digital payment systems. Beginning with a declaration that the United States encourages responsible payments innovation, the statement outlines various high-level regulatory principles that participants in stablecoin arrangements need to account for. The statement may be interpreted as a sign of what is to come in terms of federal regulation and supervision of stablecoins and other digital assets in the new year. More Fintech Funding Here >
 
 
 
 
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