News & Analysis as of

Financial Adviser

Allen Barron, Inc.

How to Prepare for an IRS Audit

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We are often asked how to prepare for an IRS audit. The first and most important thing to know is that speaking directly with the IRS is not in your best interest. IRS Revenue Officers (auditors) are skilled interrogators....more

Orrick, Herrington & Sutcliffe LLP

Should You Engage a Financial Advisor?

Financial advisors can add significant value in the M&A sale process, depending on your objectives and in-house capabilities. Justin Yi and Mark Seneca discuss the benefits of bringing in a banker, and when it may not be...more

Katten Muchin Rosenman LLP

CME's Financial and Regulatory Surveillance Department Issues Long-Awaited Guidance

FRS's Annual Examination of CME Clearing Members and CME Rule 930.K - The back-office operations, finance and compliance teams of the futures commission merchant (FCM) clearing members of the CME Clearing House mark their...more

Kohrman Jackson & Krantz LLP

Court Ruling in Ohio Highlights Evolving Non-Compete and Non-Solicit Landscape

As the Federal Trade Commission’s Non-Compete Rule is appealed through the federal courts, a ruling from a court in Cleveland, Ohio, exemplifies how certain courts have recently approached non-compete and non-solicitation...more

Proskauer - Regulatory & Compliance

FCA publishes Dear CEO letter setting out expectations for financial advisers and investment intermediaries

On 7 October 2024, the FCA issued a “Dear CEO letter” (“Letter”) to firms whose primary business is financial advice or investment intermediation. The Letter contains a summary of the FCA’s priorities and expectations of...more

Wilson Sonsini Goodrich & Rosati

FinCEN Finalizes Rule Requiring AML/CFT Programs for Registered Investment Advisers and Exempt Reporting Advisers

On September 4, 2024, the U.S Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a final rule that expands the definition of “financial institution” to include Registered Investment Advisers...more

Fleurinord Law PLLC

The Wendy Williams Guardianship Saga and Why a Pre-Need Declaration is Essential

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Wendy Williams, the famous talk show host, has long been a media fixture, but in recent years, her name has been associated with a highly publicized guardianship battle. This case underscores the importance of estate planning...more

IR Global

Boost Client Acquisitions: A Guide for Business Advisors

IR Global on

As a business advisor, understanding the succession process for business owners can significantly benefit your ability to attract and build a business owner practice successfully. Long-term thinking can be complex for some...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors should play nicely with other providers

What makes a good retirement plan financial advisor? Well, it takes attention to detail, an understanding of what the role to entails, and dedication to the client. In addition, what I find is the way a good financial advisor...more

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Reiterates that Burden of Proving Loss Causation Stays with Plaintiffs

The Eleventh Circuit Court of Appeals recently affirmed a district court’s grant of summary judgment in favor of the fiduciaries of the Home Depot 401(k) plan, who defended against claims that they breached their fiduciary...more

Proskauer - Corporate Defense and Disputes

Missouri Court Enjoins Missouri’s Anti-ESG Rules for Financial Advisers

A federal district court in Missouri recently enjoined Missouri Securities Division rules that require financial firms and professionals to obtain clients’ signatures on state-prescribed documents before providing advice that...more

Quarles & Brady LLP

Prevailing Against FINRA Investor Complaints

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In 2007, the United States Securities and Exchange Commission approved the creation of the Financial Industry Regulatory Authority (FINRA), and the FINRA arbitration forum officially came into being. ...more

Goodwin

A New Sustainable Investment Framework for the EU? ESMA’s Latest Opinion

Goodwin on

Those who have had to navigate and consider the EU Sustainable Finance Disclosure Regulation (SFDR) have faced its challenges and noted its deficiencies. Specifically, these have included data gaps, the SFDR’s use as a...more

Morrison & Foerster LLP

Tips for Reducing Lender Liability Risk When Dealing with Distressed Commercial Real Estate Loans (Part 2)

A number of factors have combined to cause an almost “perfect storm” for commercial real estate distress. The COVID-19 pandemic led to a rise in remote and hybrid work, increasing vacancy rates and decreasing property values....more

Sullivan & Worcester

Interpreting English Law Contracts: avoiding the bear traps

Sullivan & Worcester on

The importance of clear drafting cannot be overstated. Ambiguity of language can lead to disputes, costly litigation and unintended outcomes. The recent Court of Appeal judgment in Cantor Fitzgerald & Co v Yes Bank Ltd [2024]...more

Bennett Jones LLP

Exempt Market Dealers Granted Limited Access to Prospectus Offerings

Bennett Jones LLP on

Exempt Market Dealers (EMDs) in several Canadian provinces—British Columbia, Alberta, Saskatchewan, Ontario, Quebec and Nova Scotia—can now, under certain conditions, participate in prospectus offerings as part of a selling...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent Updates in Delaware Disclosure Law

The Delaware Supreme Court recently issued two opinions weighing in on the scope of disclosures involving board advisors in connection with M&A transactions that warrant close attention. In both rulings — each written en banc...more

Skadden, Arps, Slate, Meagher & Flom LLP

Delaware Court Denies Dismissal of Claims Based on Controller and Financial Advisor Conflicts

On May 31, 2024, the Delaware Court of Chancery issued an important decision addressing several key areas of Delaware law related to merger litigation. The opinion indicates that the court will continue to closely scrutinize...more

Warner Norcross + Judd

Michigan’s New Uniform Power of Attorney Act Effective July 1

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Michigan’s new Uniform Power of Attorney Act (UPOAA) becomes effective on July 1, 2024. This law serves several purposes, which include preventing financial exploitation of vulnerable individuals and making standard power of...more

Bennett Jones LLP

SEC Final Rules and the Impact on Canadian Advisers

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The Securities and Exchange Commission (the SEC) adopted new and somewhat controversial rules and rule amendments (the Final Rules) under the U.S. Investment Advisers Act of 1940 (the Act) in the fall of 2023 that impact the...more

A&O Shearman

Delaware Supreme Court Holds Proxy Disclosures Deficient In Failing To Disclose Advisors’ Conflicts Of Interests

A&O Shearman on

On May 1, 2024, the Delaware Supreme Court, sitting en banc, reversed the dismissal of breach of fiduciary claims against Inovalon Holdings, Inc. (the “Company”) and its CEO and directors in connection with the Company’s...more

Orrick, Herrington & Sutcliffe LLP

Tech Exit Series - Hiring a Corporate Finance/M&A Advisor

Orrick's Exit Series follows on from the successful Founder Series and offers monthly top tips for companies looking towards an exit. The Series is written by members of our market-leading London M&A and Private Equity team...more

Paul Hastings LLP

SEC Enforcement Continues Thematic Focus on Hypothetical Performance

Paul Hastings LLP on

The SEC charged five more registered investment advisers with violating the Investment Advisers Act’s Marketing Rule by advertising hypothetical performance on their websites without adopting appropriate policies and...more

McGuireWoods LLP

Senior Living Alert: Federal Tax Code’s Arbitrage Rules May Impact the Return on Certain Investments

McGuireWoods LLP on

Borrowing money to finance capital projects is always more challenging in a rising interest-rate environment. However, one silver lining is the ability to earn more on the investment of borrowed money during the construction...more

Vinson & Elkins LLP

Delaware Court of Chancery Holds That Common Practice of Boards Approving Draft Merger Agreements “Needs to Check Itself”

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A Delaware Court of Chancery opinion issued last week calls into question the common practice of corporate boards approving draft merger agreements. In AP-Fonden v. Activision Blizzard, Inc.,1 Chancellor McCormick declined to...more

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