Compliance Round-Up: City Bar Series on COVID-19’s Impact on Ethics and Compliance
CARES Act Fraud Enforcement is Here: What Borrowers Under the COVID-19 Financial Relief Programs Need to Know to Mitigate Regulatory Risks
Wednesday, July 22, 2020 | 11:00 am - 12:30 pm
Please Note: This program will be in a live webinar format — it will consist of audio-only instruction by the faculty, along with a visual aid presentation.
For New York Attorneys: This live webinar format is acceptable for all attorneys (both newly admitted and experienced) for all credit types. This includes, for newly admitted attorneys, Skills credit (through October 31, 2020, per recent guidance of the CLE Board – for more information, click here).
$49 for Members | $99 for Nonmembers
Members who are Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2018-2020), In-House/Corporate Counsel, Judges, or attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.
New York: 1.5 Professional Practice
New Jersey: 1.6 General
California: 1.5 General
Pennsylvania: 1.0 General
Connecticut: Available to Licensed Attorneys
This program provides transitional/non-transitional credit to all attorneys
Since March 2020, the federal government has committed trillions of dollars to COVID-19 financial relief programs. Hundreds of billions of dollars in forgivable loans have been distributed to small businesses under the CARES Act Paycheck Protection Program and hundreds more are or will be available to other businesses through other CARES Act lending programs, such as the Main Street Lending Program and the Economic Injury Disaster Loan Program. Yet another multi-trillion dollar stimulus package appears to be on the way.
The government has already brought several investigations and fraud actions against borrowers for alleged CARES Act loan abuse. Now that the Special Inspector General for Pandemic Recovery has been appointed, the pace of fraud investigations and enforcement actions only will increase.
In an update to their May 5 webinar where they introduced the CARES Act loan programs and cautioned borrowers to expect strict government oversight and increased enforcement activity, Alixandra Smith, Chief of the Business and Securities Fraud Section of the U.S. Attorney’s Office for the Eastern District of New York, George Stamboulidis, co-head of BakerHostetler’s White Collar practice, and Frances McLeod, Founding Partner of Forensic Risk Alliance, will cover the latest developments under the CARES Act loan programs and how borrowers can avoid being the next target of a fraud investigation or prosecution.
Program topics will include:
- Key legislative updates and regulatory guidance regarding the CARES Act loan programs since May 5th
- Review and analysis of the fraud investigations and criminal actions for alleged CARES Act loan abuse to date and what to expect from the government going forward
- Proactive compliance measures that borrowers can still take to mitigate regulatory risk
Click Here to View Program Agenda & Faculty
Program Chair & Moderator:
Patrick T. Campbell, BakerHostetler
Sponsoring Association Committee:
Compliance, Patrick T. Campbell, Chair
Co-Sponsoring Association Committee:
White Collar Crime, Michael S. Schachter, Chair