Stroock Attorneys Discuss CARES Act and Federal Programs Affecting Fund Managers

The coronavirus pandemic has caused unprecedented economic hardship and forced advisers to substantially reorganize their operations. To assist advisers with navigating those operational challenges, a recent Stroock program examined the federal programs available to help advisers. Those programs apply to maintenance of staffing levels; critical employment issues involving wages, hours, layoffs, unemployment benefits and compensation; payroll tax relief and other favorable tax changes; pandemic-related disclosures; implementation of business continuity plans; and compliance deadlines. The program was moderated by Stroock partner Michael S. Emanuel and featured partners Michelle M. Jewett, Howard S. Lavin, Austin S. Lilling and Eric Requenez, as well as senior counsel Richard L. Fried. This article explores the key takeaways from the program. For more from Emanuel on the impact of the pandemic, see “HFLR Webinar Covers Key Topics for Fund Manager GCs and CCOs in Light of Coronavirus” (Mar. 19, 2020).

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