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NOVEMBER 30, 2018
 
 
 
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Allen Matkins

Cadwalader, Wickersham, & Taft
Dinsmore & Shohl LLP

Drinker Biddle Reath

Squire Patton Boggs (US)



 
NLR PUblish
 
 
Financial Institutions Legal News
In house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.

Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.

There is no log in to access the database and new articles are added hourly.
 
 
 
 
As the end of the year rapidly approaches, it is a good time for investment advisers ("Advisers") to refresh their memories and evaluate their practices with relation to Rule 206(4)-2 of the Investment Advisers Act of 1940, which is referred to as the "Custody Rule." As a means for reviewing important aspects of this complicated rule, this Legal Update outlines Securities and Exchange Commission ("SEC") staff guidance from the last two years concerning its approach to enforcing Custody Rule requirements. Though this Legal Update is not exhaustive, it is intended to highlight Custody Rule concepts and thereby encourage review of your practices and compliance with the Custody Rule.  More on SEC Guidance Here >
 
 
 
The FDIC, Federal Reserve Board and Comptroller of the Currency are proposing a rule to implement a rural property appraisal exemption under the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) and also increase the appraisal exemption based on transaction value from $250,000 to $400,000. More on Increase Here >
 
 
 
On October 31, 2018, the Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released proposed regulations (REG-114540-18) (the Proposed Regulations) that would prevent, in many cases, income inclusions for corporate US shareholders of controlled foreign corporations (CFCs) under section 956. As a result, among other considerations, the Proposed Regulations could significantly expand the ability of corporate US affiliates to benefit from credit support of CFCs.  More on Benefits Here >
 
 
 
On November 8, 2018, the SEC announced it had settled charges against Zachary Coburn, the founder of EtherDelta, a digital “token” trading platform. The SEC noted that its claims against Coburn were the first by the agency “based on findings that such a platform operated as an unregistered national securities exchange.” More on SEC Enforcement Here >
 
 
 
 
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