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.
Regulation
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.
Lawmakers Ask SEC to Delist Chinese Stocks From US Exchanges
In a letter to the SEC, senators and representatives wrote that a ban would remove an ‘unacceptable risk’ and protect American markets, investors and security.
Alabama Senator Reintroduces Bill Reversing DOL Retirement Plan Crypto Warning
Tuberville’s Financial Freedom Act would reverse the 2022 guidance against including cryptocurrency investments in 401(k) accounts.
How Australia’s Superannuation Funds Value Unlisted Assets Amid Regulatory Calls to Change
Technological advances may enable a push to standardize valuations.
Dhillon Nominated to Lead PBGC
The former Equal Employment Opportunity Commission chair under President Donald Trump is now expected to lead the Pension Benefit Guaranty Corporation.
Connecticut Democrats Try Private Endowment Tax Again
This time around, they may have help from congressional Republicans.
SEC Announces Unit to Protect Investors From Crypto, AI Scams
The Cyber and Emerging Technologies Unit will be led by Laura D’Allaird, who was co-chief of the predecessor Crypto Assets and Cyber Unit.
Oregon Bill Would Ban State Pension Investments in Private Markets Funds Invested in Fossil Fuels
Senate Bill 681 would prohibit the state treasurer from renewing or making investments in private equity or other alternative funds which state an intention to invest in fossil fuels.
BMO Pays $41M to Settle SEC Charges of Failing to Supervise ‘Sliver Bond’ Sales
According to the regulator, firm employees used misleading metrics to sell mortgage-backed bonds.
Most PBGC Premium Payment Deadlines Accelerated
Premiums for plan years beginning in 2025 will generally be due one month earlier than provided in the PBGC’s payment of premiums regulation.
CFA Establishes GIPS Guidance for OCIO Providers
Effective December 2025, the framework – which has been in development for several years – will be mandatory for firms that claim compliance with GIPS standards.
PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.