New York’s Highest Court Rejects Wider Liability for Third-Party Financial Professionals
October 26, 2010 in Banking Report · Leave a Comment
New York’s highest court, in a 4-3 ruling, Oct. 21 rejected pleas to allow broader liability for third-party financial professionals, pulling the plug on claims that…
Two Major Stakeholders Seek Financial Institutions’ Exclusion under FATCA Reporting Rules
September 1, 2010 in Alternative Investment Law Report · Leave a Comment
Two major stakeholders asked the Internal Revenue Service to exclude a wide range of financial institutions from the broad new reporting, disclosure, and withholding requirements in the Foreign Account Tax Compliance Act (FATCA) in…
BNA INSIGHTS: Employee Retirement Income Security Act Fiduciary Rules and Target Date Funds
August 19, 2010 in Alternative Investment Law Report · Leave a Comment
In a Dec. 4, 2009, response to questions from Avatar Associates regarding conflicts of interest in target date funds, the U. S. Department of Labor clarified that plan…
BNA INSIGHTS: Department of Labor’s Advice on Advice and Investment Professionals: Take Two
April 21, 2010 in Alternative Investment Law Report · Leave a Comment
On Feb. 26, 2010, the Department of Labor issued a new set of proposed regulations (the “New Proposed Regulations”), which banks, broker-dealers, mutual fund complexes and other financial institutions that…
