The SBA-backed Paycheck Protection Program (PPP) is on hold right now after more than 1.6 million loans were approved since initial launch on April 3, 2020.
ACI strongly supports an extension of the program and believes it will be vital in helping the country recover from the coronavirus pandemic.
The window is now open for businesses to apply for SBA-backed Paycheck Protection Program loans under the $2.2 trillion CARES Act.
ACI is sharing relevant sections of FINRA’s guidance regarding the net capital treatment of covered loans.
ACI’s broker dealer and investment advisory clients, as well as ACI itself, qualify as part of the DHS-designated Essential Critical Infrastructure Workforce for the financial industry.
Effective March 20, 2020, FINRA released FAQs related to the COVID-19 pandemic and the impact the virus will have on small FINRA member firms meeting various FOCUS Report and annual audit requirements over the coming months.