The international payment system was put together at a beautiful New England country lodge, the Mount Washington Hotel, at the base of Mt. Washington in New Hampshire, in the closing months of World War II in 1944. One of the fundamental agreements reached by the 730 delegates from 44 nations at the United Nations Financial and Monetary Conference over three weeks in July was that American dollars were convertible into gold at the fixed rate of $35 per ounce.» Read More
On Wednesday, August 26, 2020, the U.S. Securities and Exchange Commission (SEC), by a vote of three to two, adopted amendments to the definition of “Accredited Investor.” That definition, as noted in an August 26, 2020, statement by SEC Chairman Jay Clayton had “largely remained unchanged for over 35 years.”» Read More
The COVID-19 pandemic resulted in the shutdowns of much of the economic activity in the United States by mid-March 2020. Although there were and remain some variances among the several states, in general, businesses were shut, buildings were almost empty, and factories and warehouses (except for Amazon, according to media reports) were still.» Read More
In 2005, the Securities and Exchange Commission (“SEC”) established the National Market System (“NMS”), governed by SEC Regulation NMS, “…to modernize and strengthen …[the trading system] for equity securities.” Its aim was to encourage competition both among the several trading markets and among individual orders, SEC Release No.» Read More
On March 29, 2020, as part of a massive response to the economic distress inflicted upon businesses and working people in the United States due to the “shutdown” of the economy as part of the efforts to contain the impact of the coronavirus (“COVID-19”), Congress passed and the President signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).» Read More
Although brief in length, the Paycheck Protection Program Flexibility Act (the “Act”) that was signed into law by President Trump on June 5, 2020, clarifies how borrowers can use Payment Protection Program (“PPP”) loans made pursuant to the CARES Act and grants borrowers much-needed flexibility in the requirements for PPP forgiveness.» Read More
This new normal, what will it look like in a few days, weeks, or months? Yes, some may physically be back at the office or having in-person meetings again, while others may be forever changing how they do business. The common factor between those returning physically to a pre-COVID existence, and those setting a new path for themselves will be a realization that our reliance on any outsourced service provider before the outbreak was nothing compared to what it will be moving forward.» Read More
In 1976, as our country was celebrating its Bicentennial, the American Legion was fittingly hosting its convention in Philadelphia, the birthplace of our nation. Tragically, many Legion convention attendees were sickened and some later died after contracting a mysterious respiratory ailment.» Read More
