Managing Partner Fred Cummings spoke with American Lawyer about how law firms are preparing for the anticipated process and procedure changes to immigration law under the Biden administration.

On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the “accredited investor” definition in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended, that update and improve the accredited investor definition. The purpose of the amendments is to better identify investors that have sufficient knowledge and expertise to participate in investment opportunities that do not have the rigorous disclosure and procedural requirements and related investor protections, provided by registration under the Securities Act. The amendments are substantially as proposed by the SEC on December 18, 2019.

Managing partner Fred Cummings was quoted in an American Lawyer article on how virtual interviews have sped up the lateral hiring process in the legal industry. Fred noted that the firm has made lateral hires in the areas of intellectual property and tax, and how even though the firm’s candidates are New York-based, arranging candidate meetings virtually has accelerated the interview process.
 
Fred noted that he expects many attorneys will likely continue to work from home to some extent even after a return to the workplace is possible and that meeting virtually is going to become part of the recruiting process just like it has become an element of every other part of our practice.  
 
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If you have already received a PPP loan, the PPP Flexibility Act will not allow you to apply for or receive a second loan. With respect to loans applied for after enactment of the PPP Flexibility Act, although the covered period has been extended to 24 weeks, there has been no change to the maximum loan amount that can be borrowed under the PPP - it remains 2.5 times a borrower's one-month average payroll cost, as determined under the existing PPP application.

We would like to extend our sincerest appreciation to anyone who attended yesterday's webinar, Back to Business: Navigating the New Normal with Felicia Ennis, Chair of our Employment Law practice, and Frederick Cummings, Jr., Chair of our Corporate Law practice and our Managing Partner. We hope that you found the webinar informative and that it provided a jumping-off point for your own reopening plan. If you should have any questions, please do not hesitate to reach out to us.  

View a replay of the webinar.  

Join us for a one-hour live webinar on how to welcome your employees back to work in a post-COVID-19 workplace featuring Felicia Ennis, Chair of our firm's Employment Law practice, and Fred Cummings, Chair of our Corporate practice and our Managing Partner.