News & Analysis as of

Proposed Legislation Investment Management

Blake, Cassels & Graydon LLP

The Future of Canadian Pension Governance: Updated Legal Insights

The Canadian regulatory landscape presents a dynamic mix of regulatory, policy and governance updates that demand careful attention from Canadian pension plan sponsors and administrators. Federal and provincial initiatives,...more

Troutman Pepper Locke

FUNDamentals — June 2025

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FUNDamentals is a periodic digest of news and information specifically for private funds and their managers. In this issue, we highlight some fundraising trends, new marketing rule FAQs, fund liquidity trends (limited...more

Paul Hastings LLP

Section 899 of the One Big Beautiful Bill — Focus on Tax and Private Funds

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On May 22, the House of Representatives voted to approve the One Big Beautiful Bill (OB3), which contains a new addition to the U.S. Internal Revenue Code — Section 899. OB3 is now under consideration by the Senate, which...more

Akin Gump Strauss Hauer & Feld LLP

From Crackdown to Calibration: The UK’s Evolving Carried Interest Regime

In November, we covered the UK government’s proposal to overhaul the tax treatment of carried interest in the United Kingdom—an effort to close perceived loopholes by shifting carried interest fully into the income tax...more

Troutman Pepper Locke

The One Big Beautiful Bill: Initial Analysis of Key Provisions for Investment Funds and Sponsors

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On May 22, 2025, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Tax Bill). The Tax Bill proposes amendments to the Internal Revenue Code (the Code) that...more

BCLP

Proposed Reform of UK Regime for Alternative Investment Fund Managers

BCLP on

The Treasury (HMT) launched a consultation and the Financial Conduct Authority (FCA) published a call for input in April 2025 kick-starting a review of the UK’s regulatory regime for Alternative Investment Fund Managers...more

Seward & Kissel LLP

House Tax Bill 2025

Seward & Kissel LLP on

On May 12, 2025, Republicans in the House of Representatives introduced the One, Big, Beautiful Bill of 2025 (the “House Bill”). The House Bill comes out of the House Ways and Means Committee after weeks of internal drafting...more

Proskauer - Tax Talks

The One Big Beautiful Bill: SALT Deduction Workarounds Under Fire

Proskauer - Tax Talks on

On May 12, 2025, House Republicans unveiled a comprehensive 389-page package of tax provisions, setting the stage for a significant tax bill to be debated in the coming weeks. Dubbed the “One Big Beautiful Bill,” this...more

Skadden, Arps, Slate, Meagher & Flom LLP

HM Treasury and the FCA Consult on Proposed Changes to the UK Regulatory Regime for Alternative Investment Fund Managers

On 7 April 2025, the United Kingdom’s HM Treasury opened a consultation (the Consultation) on proposals to streamline the regulatory framework for alternative investment fund managers (AIFMs). Alongside the Consultation, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Targets Reform of the Investment Manager Exemption

On 28 April 2025, the UK government published draft legislative amendments to: - Align the UK’s domestic tax rules on permanent establishments (PE) with the 2017 Organisation for Economic Co-operation and Development (OECD)...more

Jones Day

Holding Proxy Advisors' Feet to the Fire

Jones Day on

Proxy advisors, and specifically ISS and Glass Lewis, are in the business of advising asset managers on whether to vote for or against the thousands of director nominees and proposals that are presented to shareholders each...more

Ropes & Gray LLP

Impact of Permanent Establishment Reform for Credit Funds

Ropes & Gray LLP on

On 28 April, the UK Government produced draft legislation for consultation as the latest step in the reform of UK rules on transfer pricing, permanent establishments and diverted profits tax. From an asset management...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Goodwin

Horizon Scan for Private Investment Funds: Key Recent and Expected Funds, Regulatory, and Tax Developments to Look Out For

Goodwin on

Welcome to the third edition of our Horizon Scan, where we focus on some of the principal recent and expected developments and changes that we expect to be of interest to those in the private funds and investment management...more

Eversheds Sutherland (US) LLP

ESG in the United States: A complex landscape

The United States is in the process of transitioning ESG disclosure from voluntary, market-led reporting to a regulatory-driven scheme, principally led by the US Securities and Exchange Commission’s (SEC) anticipated (but...more

Cadwalader, Wickersham & Taft LLP

Kansas Public Employees Retirement System Warns of Adverse Consequences From “Anti-ESG” Bills

Earlier this month, the Kansas Public Employees Retirement System (KPERS) urged legislators to reject key aspects of “anti-ESG” bills introduced in the Kansas Senate and House of Representatives. Both bills are designed, in...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Senator wants crypto option, good luck

As Bitcoin starts inching back up, I’m in the black again and expect more clamor for crypto options in 401(k) plans. Senator Tommy Tuberville, R-Alabama, reintroduced legislation to create a law, the Financial Freedom Act...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Edinburgh Reforms: Big Bang 2.0 or Thoughtful Change?

Following the recently introduced Solvency UK for insurers, the UK Chancellor of the Exchequer Jeremy Hunt (the UK finance minister) has announced the Edinburgh Reforms, a further series of reforms aimed at the UK financial...more

McDermott Will & Emery

Inflation Reduction Act & Long-Term Capital Gain for Carried Interest

OVERVIEW OF CARRIED INTEREST RULES Section 1061 of the Code, enacted in 2017 as part of the Tax Cuts and Jobs Act, recharacterizes certain gain that would otherwise qualify as long-term capital gain with respect to...more

Mintz - Employment Viewpoints

Call it a Comeback: The Likely Return of ESG Investing in ERISA Accounts

Environmental, social, and governance (“ESG”) investing has experienced quite the regulatory roller coaster in recent years. In the most recent turn, Democratic Senators Patty Murray (D-Wash.) and Tina Smith (D-Minn.), along...more

Bradley Arant Boult Cummings LLP

House Bill Makes Significant Changes to Retirement Plans - Employee Benefits Alert

Last week, the House of Representatives overwhelmingly passed the “Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019” (H.R. 1994) by a vote of 417-3. The bill makes numerous changes affecting...more

Carlton Fields

State Suitability, Fiduciary Duty and Disclosure Initiatives Roundup

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States are stampeding to impose additional duties on those who provide financial advice or make recommendations to consumers. Some of these initiatives result from the states’ belief that action is required to wrangle...more

Katten Muchin Rosenman LLP

Tax Reform: Hedge Funds/Commodity Funds/Fund Managers

House Republicans released their draft tax bill on November 2, representing their opening bid in the drive to reach agreement on a comprehensive tax reform bill that can be presented to the House for a vote before the...more

K&L Gates LLP

Corporate Collective Investment Vehicles Introduced

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The Government has today released an exposure draft of legislation introducing corporate collective investment vehicles into the Australian market for the first time. This is the result of significant collaboration between...more

Littler

WPI Insider Briefing: After ACA "Repeal and Replace" Effort Fails, What's Next For Employers on Health Care and Other Workplace...

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Last month began with significant momentum but long odds that Senate Republicans would pass legislation repealing and replacing the Affordable Care Act (ACA). In the early hours of July 28, GOP efforts came to a screeching...more

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