Economic recovery from a global pandemic will take different forms across industries, including access to funds, changing tax and reporting requirements, consumer protection updates, and new rules on litigation.
After a sluggish year in 2020 for mergers and acquisitions among hospitals and health systems, 2021 has shown renewed vigor and is poised for considerable transactional activity.
Governor Andrew Cuomo announced on June 15 that the State of New York reached its goal of 70% of adult New Yorkers receiving at least one dose of a COVID-19 vaccine.
The Occupational Safety and Health Administration (OSHA) issued important updates to its COVID-19 guidance for employers on June 10. To start, the long-awaited COVID-19 Emergency Temporary Standard (ETS) is effective immediately, but it only applies to employers in healthcare and healthcare support services settings. Employers covered by the ETS have 14 days (from the date that the ETS is published in the Federal Register, which could be any day now) to comply with most provisions, and 30 days (also from the date of publication in the Federal Register) to comply with the provisions related to physical barriers, ventilation, and training.
Following the Schrems II decision last year, there have been many questions about the status of international data transfers between the European Union and United States. The European Commission (the Commission) has now adopted a new set of Standard Contractual Clauses (SCCs) for international data transfers (the New SCCs), effective 25 June 2021. The New SCCs take into account some of the requirements under Schrems II and confirm how to carry out an assessment of a third country’s legal framework.
On June 8, 2021, the New York State Department of Health released updated interim guidance for office-based workplaces that removes significant prior restrictions. This new guidance comes on the heels of Governor Andrew Cuomo’s recent announcement that once 70% of adult New Yorkers have received at least the first dose of the COVID-19 vaccine, almost all applicable guidance will become optional, except that unvaccinated individuals still need to wear face coverings and maintain social distancing. According to Governor Cuomo, New York is expected to hit the 70% threshold during the week of June 14, if not earlier.
New guidance will allow employees in New Jersey, Oregon, and Washington to go maskless and stop social distancing if they provide their employers proof of vaccination against COVID-19.
Massachusetts Governor Charlie Baker announced on May 17 that Massachusetts will rapidly accelerate the commonwealth’s reopening process by adopting the Centers for Disease Control and Prevention’s (CDC’s) Interim Public Health Recommendations for Fully Vaccinated People. Effective May 29, all businesses can open at 100% capacity, with very limited exceptions. The governor also announced that the 14-month state of emergency will end on June 15, 2021.
Illinois Governor J.B. Pritzker announced that effective May 17, 2021, the State of Illinois is adopting the Centers for Disease Control and Prevention’s new guidance regarding face coverings for fully vaccinated individuals. The next day, Chicago Mayor Lori Lightfoot announced similar changes to Chicago’s face covering requirements.
Morgan Lewis partner Daniel Skees spoke to E&E News about how President Biden’s executive order, which is aimed at strengthening US cybersecurity defenses, will affect the energy industry. Dan noted that an upcoming guidance on enhancing supply chain security and improving cloud services could have a significant trend-setting impact on the private sector.
Morgan Lewis partner Jennifer Feldsher was quoted in a Bloomberg Law article discussing guidance from the Small Business Administration focused on restaurants who have filed for bankruptcy.
Morgan Lewis partner Jeffrey Raskin was quoted in Business Insurance in an article about how insurance policies can protect special purpose acquisition companies (SPACs).
Partner Iain Wright spoke to the Financial Times to discuss the UK Financial Conduct Authority’s consultation proposing a new regime for special purpose acquisition companies (SPACs).
Partner Daniel Tehrani was quoted in a Tax Notes article about the US Department of the Treasury Financial Crimes Enforcement Network’s (FinCEN’s) ability to manage a beneficial ownership register created to implement updates to the US anti-money laundering regime.
Partners Elizabeth Goldberg, Matthew Hawes, and Lindsay Jackson and associates Michael Gorman and Gena Yoo authored an article for Architecture and Governance Magazine after the US Department of Labor (DOL) issued three pieces of guidance addressing the cybersecurity practices of retirement plan sponsors, vendors, and plan participants.
Partner Jedd Wider was quoted by Private Equity International after he spoke at the Morgan Lewis Private Investment Funds Summit. During the session, Jedd covered a number of topics including what the private funds industry can expect to see from new US Securities and Exchange Commission (SEC) Chair Gary Gensler.
Partner Sandra Vrejan spoke with Bloomberg Law about a shift from the Small Business Administration regarding bankrupt companies’ eligibility for Paycheck Protection Program (PPP) loans. In the piece, Sandra noted that the guidance doesn’t address a key issue—whether bankrupt companies are eligible for PPP loans. “At the end of the day, the thumbnail conclusion is that it hasn’t changed all that much,” she said.