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.
Regulation
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.
SEC Announces Director of Investment Management Will Step Down
Natasha Vij Greiner leaves the agency after 23 years, having served in her final role since March 2024.
Private Foundation Tax Could Change Charitable Giving
Affected institutions could look to offset the tax by chasing higher yields or to avoid the tax completely by using donor-advised funds.
2nd Circuit Vacates PBGC’s Denial of SFA Funds for NYC Pension
The Pension Benefit Guaranty Corporation had argued that the pension was not entitled to funds because it had already been terminated.
The Private Universities Affected by Proposed Tiered Endowment Tax
At least 41 colleges and universities would be subject to an expanded federal endowment tax, with several subjected to new, higher rates.
House GOP Tax Plan Targets Private University Endowments, Private Foundations
The bill proposes increasing tax rates for private institutions with large endowments and private foundations with substantial assets.