Tag Archives: regulatory

SBA Updates Interim Regulatory Guidelines to Greatly Expand Accessibility of Paycheck Protection Program Loans to Gaming Businesses

On April 24, 2020, the casino industry received some much-needed good news from the Small Business Administration (SBA). Specifically, the SBA issued revised regulatory guidelines for the CARES Act’s Paycheck Protection Program (PPP) that now make PPP loans available to small gaming businesses previously precluded from the program because of restrictions on gambling-based revenue, but otherwise met the eligibility requirements.

To read the full text of this Duane Morris Alert, please visit the firm website.

FDA Takes Steps to Enhance Availability of Safe and Effective Face Masks

Over the past week, the U.S. Food & Drug Administration (FDA) has taken a number of steps to enable manufacturers and distributors of face masks to more efficiently make their products available to the marketplace. FDA has accomplished this by establishing criteria that would allow manufacturers to bypass normally required (and often time-consuming) regulatory review.

To read the full text of this Duane Morris Alert, please visit the firm website.

Small Business Administration Updates Interim Regulatory Guidelines to Help Certain Gaming Companies

On April 14, 2020, the Small Business Administration (SBA) issued revised interim regulatory guidelines for the Paycheck Protection Program (PPP). The revisions provide, in relevant part, that certain companies which derive revenues from legal gaming activities are eligible for PPP loans and are not automatically ineligible as previously thought pursuant to the interim regulatory guidelines released on April 2, 2020, and discussed in our previous Alert.

To read the full text of this Duane Morris Alert, please visit the firm website.

FDC Changes OTC Drug Review Process in Response to CARES Act

Most of the hundreds of pages comprising the CARES Act, signed into law on March 27, 2020, concern measures for directly counteracting COVID-19 and assisting those dealing with economic consequences of the pandemic. Yet tucked away in Subtitle F of the legislation are a number of provisions—now law—which streamline FDA’s over-the-counter (OTC) drug review process. These changes are likely to lower the regulatory burden of getting a product through the OTC drug review process and provide incentives of market exclusivity for companies who do.

To read the full text of this Duane Morris Alert, please visit the firm website.

Federal and State Enforcers Will Scrutinize Pricing Behavior During COVID-19 Pandemic

In addition to drastic changes to everyday life, the COVID-19 pandemic is impacting antitrust enforcement. Companies must be prepared to address these impacts, including steering mergers and acquisitions through regulatory approvals, seizing opportunities to collaborate to solve public health issues raised by COVID-19, and avoiding use of pricing algorithms or other pricing mechanisms that could lead to allegations of price gouging. Indeed, U.S. lawmakers recently urged the Federal Trade Commission (FTC) to act quickly to protect the public from price gouging, particularly for essential COVID-19 health products such as facemasks, disinfectants and hand sanitizers. Thirty-three state attorneys general also recently issued a letter urging the nation’s major retailers to rigorously monitor price gouging practices on their platforms during this time.

To read the full text of this Duane Morris Alert, please visit the firm website.

Updated COVID-19 Guidance for Institutions Posted by U.S. Department of Education Following Enactment of CARES Act

Late on Friday, April 3, the Department posted updated guidance for institutions that recognizes the regulatory flexibilities authorized by Congress in the CARES Act, but also addresses other areas including Clery Act,  Distance Education, Foreign Schools and FERPA, among other issues relevant to the COVID-19 interruption.

To read the full text of this post by Duane Morris partner Katherine Brodie, please visit the Duane Morris UpdatED Blog.

Interim Regulatory Guidelines Preclude Gaming Businesses from Receiving Support Under the CARES Act Paycheck Protection Program

Much of the U.S. casino industry is currently ineligible to benefit from the Paycheck Protection Program portion of the newly enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act). The American Gaming Association issued a statement regarding the interim guidelines and is taking action to have these guidelines amended.

To read the full text of this Duane Morris Alert, please visit the firm website.

Relief to Higher Education Institutions and Students from CARES Act

The CARES Act appropriates $30.75 billion for an Education Stabilization Fund available through September 30, 2021, to assist governors and postsecondary institutions with preventing, preparing for and responding to COVID-19. The Act also includes important student relief and temporary regulatory flexibilities.

For more information, please visit the Duane Morris website.

SEC Announces Reporting Relief and Issues Guidance Regarding Disclosures in Light of COVID-19

On March 25, 2020, the Securities and Exchange Commission announced that it is extending the filing periods covered by its previously enacted conditional reporting relief for certain public company filing obligations under the federal securities laws, and that it is also extending regulatory relief previously provided to funds and investment advisers whose operations may be affected by COVID-19. In addition, the SEC’s Division of Corporation Finance issued its current views regarding disclosure considerations and other securities law matters related to COVID-19.

To read the full text of this Duane Morris Alert, please visit the firm website.