On April 17, 2019, the Treasury Department issued a second round of proposed regulations (the “Proposed Regulations”) addressing investments in Opportunity Zones under the Tax Cuts and Jobs Act of 2017. The first round of...more
4/26/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Planning ,
U.S. Treasury
On Monday, April 15, the New Jersey Bureau of Securities (“NJBS”) released its long-awaited proposed fiduciary rule (the “Proposed Rule”) for broker-dealers (“BDs”) and investment advisers (“IAs”).1 Key points from the Rule...more
As just about everyone who operates in the mutual fund, closed-end fund or exchange-traded fund (ETF) industries knows, the Investment Company Act of 1940, as amended (the “1940 Act”), requires certain key registered...more
New Jersey released its long-awaited proposed fiduciary rule (the “Fiduciary Rule”) for broker-dealers and investment advisers. The 60-day comment period for the Fiduciary Rule began today, and will end on June 14, 2019....more
Last week FINRA issued guidance (Regulatory Notice 19-10) with respect to communications with customers about registered representatives (“RRs”) who have left a broker-dealer (the “Notice”).
With increased frequency, RRs...more
The SEC published guidance with respect to cryptocurrencies, digital tokens, and similar investments (each a “digital asset”) that is designed to help issuers and others determine whether the applicable digital asset is a...more
Last April, the SEC released proposed rules related to the standard of care that broker-dealers (“BDs”) owe their customers and issued proposed guidance related to the standard of care that investment advisers (“IAs”) owe...more
The handling of shareholder funds by transfer agents (“TAs”) has long been an examination priority of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”). Recently, OCIE issued a Risk Alert (the “Alert”)...more
The SEC’s Office of Compliance Inspections and Examinations (the “OCIE”) recently issued a risk alert (the “Alert”) regarding electronic messaging by registered investment advisers (“RIAs”). As used in the Alert, the term...more
As we prepare for a new year of regulatory initiates and actions, we believe it is important to take inventory of the most significant regulatory events from the past year. True to its word, the SEC focused on reducing...more
1/3/2019
/ Broker-Dealer ,
Cryptocurrency ,
Cybersecurity ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Form ADV ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Investors ,
Liquidity ,
OCIE ,
Opportunity Zones ,
Proposed Regulation ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
Last February, the Division of Enforcement of the SEC (the “Division”) launched the Share Class Selection Disclosure Initiative (the “Initiative”). The Initiative enabled registered investment advisers (“RIAs”) to self-report...more
Last month, the Treasury Department released proposed regulations (the “Regulations”). The Regulations included a number of important clarifications and guidance for investors seeking to take advantage of the opportunities...more
11/13/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
IRS ,
Low Income Housing ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Planning
Last year, Congress passed the Tax Cuts and Jobs Act (the “Act”), which contained a tax incentive program (the “Opportunity Zone Program”) to encourage long-term investments in low-income communities identified as...more