Small Business Administration in 2020: Enforcement and Compliance Updates
With the enactment of the Small Business 7(a) Lending Oversight Reform Act in 2018, the Small Business Administration (SBA) released its proposed rule on the Small Business Lender Oversight Reform Act which sought to increase the agency’s guidance oversight on lenders who participate in the SBA's business loan programs. The proposed rule also included revisions on the Lender Supervision and Enforcement Standard Operating Procedures.
Additionally, at the close of 2019, SBA issued several notable final and proposed rules relating to SBA’s various small business government contracting programs. Specifically, SBA finally implemented the Runway Extension Act of 2018, thereby marking a major shift in how to calculate a concern’s size for revenue-based size standards. SBA also adopted changes on how it will determine compliance with the limitations on subcontracting. Finally, SBA’s proposed rule to merge the 8(a) Mentor Protégé and All Small Mentor Protégé programs came with a sweeping number of additional proposed changes that would have a major impact on compliance with SBA’s regulations.
These notable developments confront lenders, intermediaries, and small businesses with a myriad of potential red flags that, if not mitigated, could incur legal liabilities and costly penalties. Thus, they must keep themselves abreast of the emerging developments in the regulatory paradigm. An in-depth understanding of the proposed rules are also essential to ensure compliance.
Listen to lawyers, Barry A. Furman (Fineman Krekstein & Harris) and Alissandra D. Young (Morrison & Foerster), as they delve into an in-depth analysis of the current trends and developments in the SBA’s enforcement actions. Speakers will also provide the audience with practical compliance strategies in a rapidly evolving legal climate.
This LIVE webcast will discuss the following key provisions:
- Small Business Administration Law: Trends and Updates
- Small Business Lender Oversight Reform Act Proposed Rule
- Runway Extension Act of 2018
- Most Notable Developments
- Critical Issues
- Best Compliance Practices
- What Lies ahead
Barry A. Furman, Of Counsel
Fineman Krekstein & Harris
- Update lender responsibilities to supervise loans, loans in default and in liquidation
- Update SBA enforcement actions with respect to such lender responsibilities
- SBA 7(a) Loan options if borrower or guarantor cannot pay balance due
- If a deficiency exists after all collateral has been liquidated, obligors may be able to settle liability for less than the full amount due.
Alissandra D. Young, Attorney
Morrison & Foerster LLP
- Update on new rules in calculating size for revenue-based size standards
- Update on compliance with limitation on subcontracting rules, and how these implicate Mentor Protégé Joint Venture Performance of Work Requirements
- Overview of major changes in SBA’s recent proposed rule to merge the 8(a) Mentor Protégé and All Small Mentor Protégé programs.
For the last 35 years Barry has counseled a wide range of business clients regarding healthcare, tax, corporate, employment and real estate law in matters such as entity formation, business structuring, acquisitions, financing, licensing, regulatory issues, contract negotiations and estate planning. Over the course of his career, Barry has been gratified to have been acknowledged for his work in government and on behalf of area businesses. While at the IRS, Barry was awarded several merit awards by the Chief Counsel of the IRS. In private practice, he was recognized by the Philadelphia Business Journal as a Leader in Law. Barry is an active public speaker and has spoken before the New York State Society of Certified Public Accountants, the Hospital Association of Pennsylvania, the Healthcare Financial Management Association and the Philadelphia and Suburban Hospital Human Resources Association, the Greater Philadelphia Senior Executive Group.
For the last 35 years Barry has counseled a wide range of business clients regarding healthcare, tax, corporate, employment and …
Ali Young is an associate in the Government Contracts practice in Morrison & Forester’s Washington, D.C. office. Prior to joining Morrison & Foerster, Ali practiced government contracts law at a mid-sized law firm. Her practice focused on assisting clients with small business procurement matters, including size protests, 8(a) certification, and joint venture agreement compliance; drafting requests for equitable adjustments and certified claims; and litigating bid protests at the General Accountability Office and claims disputes at the Court of Federal Claims and the Armed Services Board of Contract Appeals. She also counseled clients through Buy American Act, False Claims Act, and cybersecurity compliance investigations.
Ali Young is an associate in the Government Contracts practice in Morrison & Forester’s Washington, D.C. office. Prior to joining …
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Method Of Presentation:
General knowledge of small business administration law
NY Category of CLE Credit:
Areas of Professional Practice
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About Fineman Krekstein & Harris
For more than 35 years, the law firm of Fineman Krekstein & Harris P.C. has represented individuals, corporations, nonprofit organizations and governmental agencies throughout the region.
Deeply rooted in the community, the attorneys at Fineman Krekstein & Harris understand the rules and appreciate the nuances specific to the courts, the government structure and legal and business interests in the metropolitan Philadelphia area.
The firm provides a full-range of legal services and business solutions. The litigation attorneys handle complex civil and commercial litigation, products liability, toxic torts, transportation and insurance matters. Corporate attorneys advise clients on tax-related issues, employment disputes, real estate matters and finance. The attorneys work collaboratively to provide a comprehensive solution designed to address the clients’ specific needs.
The firm is dedicated to the practice of relationships. Everyone at Fineman Krekstein & Harris is committed to providing top quality service to the firm’s clients through hard work and personal attention.
About Morrison & Foerster LLP
With approximately 1,000 lawyers in 17 offices, Morrison & Foerster is a preeminent global law firm dedicated to delivering business-oriented results to clients across the United States, Europe and Asia. Dynamic technology and life science companies, large financial institutions, leading consumer product companies and other market leaders come to Morrison & Foerster for knowledge, innovation and business aptitude. Morrison & Foerster handles some of the world’s largest crossborder transactions and resolves major disputes across multiple jurisdictions. The firm has a long-standing commitment to pro bono work and social justice.