09/03/2020
TD enters into North American data-access agreement with Intuit
New agreement signifies alignment between TD and Intuit about access to customer financial data
Legal, Regulation & Compliance
09/02/2020
SEC adopts final amendments to disclosure requirements under Regulation S-K
A chart summarizing the final amendments and the corresponding current requirements, with significant changes highlighted in bold, is included at the end of this alert.
09/02/2020
ADNOC and Apollo-led Consortium Enter Into $5.5 Billion Real Estate Investment Partnership
Agreement is a continuation of ADNOC’s smart growth strategy to attract FDI into the UAE and to partner with leading global investors as it builds on recent successful infrastructure transactions
09/01/2020
OCIE to Private Fund Advisers: How Many Times Do I Have to Tell You?
The Risk Alert addresses a number of themes that the SEC staff has previously addressed over the years1, which augurs heightened scrutiny on these themes in upcoming examinations.
09/01/2020
DOL proposes rule to narrow scope of ERISA fiduciaries’ proxy voting
In its proposal, the Labor Department outlined permitted practices under which a plan fiduciary can adopt certain proxy voting policies and parameters reasonably designed to serve the plan’s economic interest.
09/01/2020
Top regulator pushes ahead with plan to reshape banking, sparking clash with states
A charter would give these companies the ability to operate across state borders with a single set of rules, as well as to expand the suite of financial services they offer.
08/31/2020
Barclays boss Jes Staley is dragged into the hunt for Jeffrey Epstein's cash as prosecutors demand to see copies of correspondence between them
There is no suggestion of any wrongdoing on the part of Mr Staley, or that he knew anything about Epstein's criminal activities.
08/31/2020
Should Whistleblower Reward Laws be Capped?
Under this “soft” cap, if the SEC obtained over $300 million in sanctions from a fraudster, the whistleblower whose information triggered the enforcement action would be presumptively limited to the lowest percentage award (i.e., a 10 percent
08/28/2020
What’s at Stake With the New SEC Whistleblower Rules?
The main proponent of the controversial proposals is the Chamber of Commerce, which has a long record of opposing every law, rule, or judicial precedent that helps whistleblowers.
08/28/2020
Did the SEC Set the Bar Too Low for Private Market Investors?
Critics — including two SEC Commissioners — take issue with the new standards.
08/27/2020
The DOL Addresses How Much Retirement Income A 401(k) Account Provides
These income estimates would be under two potential scenarios: for the participant as a single life income stream, and as an income stream that factors in a survivor benefit for a spouse.
08/27/2020
Hightower Makes Strategic Investment in $1.3B Stearns Financial Group
The SFG team will continue to provide the professional financial planning, investment management and high touch service our clients have come to know and love, while Hightower brings back office support, advanced technology and NextGen training to our tea
08/27/2020
SEC Adopts Rule Amendments to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K
The Commission also took into account the staff's experience with Regulation S-K arising from the Division of Corporation Finance's disclosure review program and changes in the regulatory and business landscape since the adoption of Regulation S
08/26/2020
LPL Financial Welcomes Partner Firms Baldwin Capital Management and Langdon Capital Management
Langdon added that LPL’s self-clearing abilities will also make transactions very smooth for clients.
08/25/2020
Withers is proud to help close the digital divide in New York City
Withers has partnered with the New York City Bar to help educate New Yorkers about this issue and urge the City to include and prioritize homeless shelters in its plan to expand broadband internet access for low-income New Yorkers.
08/25/2020
IRS Issues Proposed Regulations Intended to Clarify Carried Interest Rules
The IRS believed that taxpayers could make QEF elections with respect to PFICs in which they hold an interest for the purpose of securing passthrough treatment without the application of section 1061.
08/25/2020
Wells Fargo to Pay $7.8 Million to Settle Hiring Bias Claims (1)
Wells Fargo will also extend 580 job offers to applicants affected by the alleged bias, the Labor Department’s Office of Federal Contract Compliance Programs said.
08/24/2020
Market failure
Economist argues globalization has gouged the middle class, propped up elites and given rise to a dangerous brand of populism
08/24/2020
Wells Fargo resumes job cuts after pandemic break
The bank will provide severance and career assistance to affected staff.
08/24/2020
California seeks extra protections for policyholders in wildfire areas
The bill is set to be voted on in the full Senate.