On June 7, 2022, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced the Responsible Financial Innovation Act (RFIA), a bipartisan effort to develop and provide greater regulatory clarity to the eclectic...more
6/16/2022
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
FinTech ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Stablecoins ,
Virtual Currency
Certain individuals who have only signature authority over foreign financial accounts now have until April 15, 2018 to file the Report of Foreign Bank and Financial Accounts....more
The recently proposed regulations, if finalized, would govern the treatment of RICs’ income inclusions in respect of CFCs and PFICs for purposes of the income test applicable to RICs; in related guidance, the IRS also...more
Fines pertaining to violations of federal securities laws and certain FINRA rules may not be deducted.
The Internal Revenue Service (IRS) in low-level advice recently announced its position that certain fines paid to...more
Certain individuals who have only signature authority over foreign financial accounts now have until April 15, 2017 to file the Report of Foreign Bank and Financial Accounts....more
The IRS recently provided relief from the RIC distribution requirement for money market funds that receive contributions in connection with the transition to a floating NAV, enabling RICs to top up their NAVs without having...more
5/24/2016
/ Diversification Requirements ,
Floating NAV ,
Income Taxes ,
Insurance Industry ,
Internal Revenue Code (IRC) ,
IRS ,
MMF ,
Money Market Funds ,
Registered Investment Companies (RICs) ,
RICs ,
Securities and Exchange Commission (SEC)
The PATH Act exempts certain foreign pension funds from taxation under FIRPTA and significantly modifies the tax rules applicable to REITs.
On December 18, 2015 (Enactment Date), US President Barack Obama signed the...more
1/6/2016
/ FIRPTA ,
Foreign Investment ,
Internal Revenue Code (IRC) ,
Pension Funds ,
Protecting Americans from Tax Hikes (PATH) Act ,
Real Estate Investments ,
Registered Investment Companies (RICs) ,
REIT ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Spinoffs
Certain individuals who have only signature authority over foreign financial accounts now have until June 30, 2016 to file the Report of Foreign Bank and Financial Accounts....more
Certain individuals having only signature authority over foreign financial accounts now have until June 30, 2014, to file the Report of Foreign Bank and Financial Accounts.
...more