PPP Loan Forgiveness: Regulatory Considerations and the Application Process
Join Eversheds Sutherland attorneys Clifford Kirsch, Issa Hanna and Bria Adams, as they cover the mechanics of completing the application for loan forgiveness and the associated regulatory considerations. Specifically, the speakers will cover:
• Form ADV disclosure requirements for investment advisers
• Potential SEC examinations relating to PPP loans and the disclosures provided to investors
• How to complete Form 3508EZ and the associated schedules and worksheets
Clifford E. Kirsch
A seasoned securities lawyer with more than 30 years of regulatory, corporate counsel and private practice experience, Clifford Kirsch focuses his practice on investment management, where he regularly counsels clients on the comprehensive regulations governing advisers and broker-dealers, bank fiduciaries, pooled investment vehicles (including mutual funds, managed advisory accounts, bank collective investment funds, and retirement and insurance investment products), and the retirement marketplace.
Cliff advises many of the most prominent US dual-registrants (entities that are registered as both advisers and broker-dealers) with respect to the sale and distribution of investment products, compliance and supervisory procedures, and sales practice issues. A former chief legal officer for one of the country’s largest dually registered broker-dealer/advisers, Cliff routinely guides clients through US Securities and Exchange Commission, Financial Industry Regulatory Authority and state securities departments in connection with regulatory and examination matters. Cliff also works regularly with the preeminent securities, retirement and insurance industry trade associations, and serves as policy counsel to the Financial Services Institute.
Issa J. Hanna
With over a decade of experience in securities and insurance law, Issa Hanna helps broker-dealers, investment advisers, investment funds and insurance producers comply with the regulatory requirements applicable to their businesses. He has deep experience counseling and advising clients on the evolving standards of conduct in the financial services space, and closely follows developments relating to SEC Regulation Best Interest, the investment adviser fiduciary duty, and state securities and insurance laws imposing standards of conduct on broker-dealers, investment advisers and insurance producers.
Issa frequently helps clients develop, revise and update policies and procedures, distribution and service agreements and disclosures to reflect the impact of new rules, regulations and interpretations.
Issa also counsels clients through regulatory issues arising out of transactions they engage in, such as obtaining regulatory approvals of transactions, obtaining end-client consents, and assessing the regulatory risks associated with proposed transactions.
In addition to his client work at Eversheds Sutherland, Issa is actively involved in the firm’s Pro Bono, Diversity and Professional Development Committees. He is also a frequent speaker with respect to current regulatory issues and has been published in a number of industry publications and treatises.
Bria M. Adams
Bria Adams advises investment advisers, broker-dealers, insurance companies and corporations on investment management and variable insurance product regulatory matters, including product development, reporting and compliance.
She also counsels clients on other related issues arising under the federal securities laws, and on regulatory and transactional matters such as public and private offerings.
Before joining Eversheds Sutherland, Bria participated in the firm’s 2015 Summer Associate program. Prior to beginning law school, Bria was a registered representative with a major investment company, where she provided investment guidance to clients on mutual funds. While employed there, Bria held the following securities licenses: Series 6, 7 and 63.
During law school, Bria interned with the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission.
Lance J. Phillips
Lance Phillips is a partner in the M&A and Private Capital team of Eversheds Sutherland’s Corporate Practice Group.
He focuses his practice on representing both public companies and financial sponsors (including private equity firms) in domestic and international mergers and acquisitions, divestitures, equity investments and corporate governance matters. He advises his clients on all aspects of M&A transactions, including providing all transactional agreements, overseeing due diligence investigations, coordinating deal teams and advising on legal and business issues. He also advises clients on corporate governance matters, including responses to activist investors, preparation of SEC filings and securities law and stock exchange compliance.
Lance has extensive experience leading significant and complex M&A transactions for his clients, which span a variety of different industries and sectors.
Prior to joining Eversheds Sutherland, Lance worked for a major global law firm as a corporate M&A attorney representing public companies and private equity firms in domestic and international M&A transactions.