Cos. Should Keep A Close Watch On SIGPR Enforcement

The Coronavirus Aid, Relief and Economic Security, or CARES, Act and the subsequent Consolidated Appropriations Act 2021 constitute the signature pieces of Congress' economic response to the COVID-19 pandemic.

Importantly, the CARES Act created the special inspector general for pandemic recovery to oversee CARES Act programs, implicating a range of corporate CARES Act participants.

As a new administration takes the reins in Washington, company general counsel should keep a close watch on SIGPR.

The office is new and its track record sparse, but its mandate is sweeping, covering the audit and investigation of any loans, loan guarantees and other investments made by the secretary of the U.S. Department of the Treasury under Division A of the CARES Act, as well as "the management by the [s]ecretary of any program established under" the CARES Act.¹