The Bureau of Economic Analysis (BEA) has extended the deadline to file Form BE-10, Benchmark Survey of U.S. Direct Investment Abroad, to June 30, 2015, for all new filers. For information on Form BE-10 filing, please read our recent article HERE. Further information on BE-10 is available at the BEA website.…
This article was originally published in Tech City News on May 6, 2015. Much has been made of the UK’s growing fintech industry. Research published by Accenture in 2014 showed the UK and Ireland enjoyed a growth rate outstripping the rest of Europe and Silicon Valley over the past five years. However,…
The Securities and Exchange Commission (SEC) today proposed rules, forms and amendments to modernize and enhance the reporting and disclosure of information by investment advisers and investment companies. Investment advisers. The investment adviser proposed rules would amend the investment adviser registration and reporting form (Form ADV), and Investment Advisers Act…
Mandatory reporting required by the Bureau of Economic Analysis on Form BE-10 – 2014 Benchmark Survey of U.S. Direct Investment Abroad Investment managers, general partners, hedge funds and private equity funds are among those that may have to file What is BE-10? BE-10 is a benchmark survey of U.S. direct…
The Division of Investment Management (the “Division”) of the Securities and Exchange Commission issued a cybersecurity guidance identifying cybersecurity of registered investment companies (“funds”) and registered investment advisers (“advisers”) as an important issue. Recognizing the rapidly changing nature of cyber threats and consequently, the necessity for funds and advisers to…
The expense provisions of many private fund governing documents are becoming longer and more detailed for good reason – increased Securities and Exchange Commission (SEC) scrutiny and prosecution relating to expense allocation and disclosure. On April 29th, the SEC announced charges against Alpha Titans LLC, a hedge fund advisory firm,…
On April 20, 2015, the Securities and Exchange Commission (“SEC”) issued an order against an investment advisory firm and its former chief compliance officer, for violating Sections 206(2) and 206(4) and rule 206(4)-7 of the Investment Advisers Act and rule 38a-1 of the Investment Company Act. The SEC charged BlackRock…
On April 14, 2015, the Department of Labor issued its much anticipated re-proposal of regulations defining and expanding the persons who are treated as ERISA fiduciaries. Under the proposal, subject to certain exceptions, all persons who provide investment advice or recommendations for a fee to an employer-sponsored retirement plan, plan…
On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency.1 The IRS has held that convertible virtual currency (CVC), such as Bitcoin, is treated as property for U.S. federal income tax purposes. Consequently, transactions involving CVC are treated…
Pillsbury’s Investment Funds & Investment Management (IFIM) group is a vital and strategic part of our platform. We are pleased to announce new leadership and structure for the group. Partners Kimberly Mann in Washington, DC and Ildiko Duckor in San Francisco will co-lead the IFIM group. The group now integrates all investment management and funds…