SEC Changes Draw Mixed Reactions
While companies have gained flexibility, Oregon’s treasurer is worried about consequences and termed the Securities and Exchange Commission’s decisionmaking process ‘atrocious.’
Regulation
ICI Details Operational Road Map as SEC Moves Toward Approving Dual-Share-Class Structure
The commission indicated last week it is likely to permit the model, and asset managers are already requesting permission.
What History Tells Us About Government Shutdowns
Stocks and bonds remain relatively unscathed so far, and private sector employment data show the economy was already exhibiting signs of weakness.
SEC Permits Dimensional to Offer Dual Mutual Fund–ETF Products
The order would allow for a hybrid fund that combines two popular investment vehicles.
Colgate-Palmolive Longstanding Pension Calculation Case Settles for $332M
The agreement, which covers 1,177 employees, followed nine years of litigation.
New SEC Task Force Focuses on AI Applications
Valerie Szczepanik, the SEC’s chief artificial intelligence officer, is leading the effort to facilitate AI integration across the agency.
Australia’s Central Bank Names Private Partners to Test Tokenized Asset Uses
The selected firms include Northern Trust, Australia and New Zealand Banking Corp., and Westpac Banking Corp., along with smaller fintech providers.
Tokenization Gets a Boost, but Questions Remain
Regulators are making it easier to tokenize assets, but market structure will have to evolve to support widespread adoption.
CT Governor Signs Bill Banning Digital Assets in State Holdings
H.B. 7082, signed Monday by Ned Lamont, will bar investments in cryptocurrencies and related investments.
GOP Senators Scale Back Endowment Tax Further
Recent amendments sheltered colleges with fewer than 3,000 tuition-paying students from facing a levy and removed the exclusion of international students from the calculation.
Senate Includes Litigation Funding Levy in Tax Bill
The proposal would create a 41% levy on litigation finance profits, likely reducing the attractiveness of the investment vehicle.
Trump, Republicans Agree to Cut Controversial ‘Revenge Tax’
Referred to as Section 899, the provision would have raised taxes on foreign investments in the U.S., which investors said would hurt capital markets.
The Reason the Senate’s Tax Bill Seems Cheaper Than House Version
Acceding to a Republican request to base the cost estimate for the Senate bill on ‘current policy baseline,’ the Joint Committee on Taxation found the upper chamber's bill much less costly than the House bill.
Senate GOP Tax Plan Pulls Back on Endowment Tax, Section 899
The bill proposes slight changes to the House version and nixed some provisions, such as the private foundation tax.
SEC Withdraws 14 Biden-Era Rulemaking Proposals
Commission says it does not intend to issue final rules on best execution, ESG, cybersecurity and other proposals.