Creating and maintaining a robust website is an ever-increasing business imperative. Many businesses turn to outside website developers for help. If that includes you, here are some important questions to ask your website developer.» Read More
On July 12, 2019, the Securities and Exchange Commission (“SEC”) Staff published a major and unusual joint statement on “LIBOR Transition.”
The Divisions of Corporation Finance, Investment Management, and Trading and Markets, together with the Office of the Chief Accountant, issued a seven-page, single-space statement.» Read More
On July 22, 2019, Fannie Mae and Freddie Mac issued a joint statement covering their plans to develop new adjustable rate mortgage (“ARM”) products that would be priced based upon the Secured Overnight Financing Rate (“SOFR”) instead of the London Interbank Offering Rate (“LIBOR”).» Read More
In perhaps a historic action, the IRS announced that by the end of this month it will contact more than 10,000 taxpayers with reminders of the federal income tax consequences of transactions involving virtual currencies. Taxpayers who the IRS believes have engaged in virtual currency transactions that may have given rise to unreported or improperly reported income tax liabilities are urged to review past tax filings, file amended, or delinquent returns if necessary, and pay any required back taxes, interest, and penalties due to prior failures to fully or accurately report income from transactions involving virtual currency. » Read More
Government agencies and regulators are being forced to address the financial exploitation of older adults, as recent studies estimate that between $2.9-$36.5 billion in wealth is lost annually.[1] While older adults are not the only victims of financial fraud[2], they possess a number of characteristics that make them particularly vulnerable. » Read More
As described in my February 28, 2019, article, “Broker/Dealer Research Reports – Mutual Funds, ETFs, and Business Development Companies,” the U.S. Securities and Exchange Commission (“SEC”) adopted new Rule 139b on November 30, 2018, to allow broker/dealers to issue “covered investment fund research reports” with respect to mutual funds, exchange-traded funds (“ETFs”), business development funds, and certain other pooled investment vehicles (such as unit investment trusts, commodity funds, and currency funds).» Read More
The questions of exactly what money is and who will control it have become much more interesting, as Facebook unveils plans for a frictionless cryptocurrency called Libra. Facebook describes it as “a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets.”
Federal and local regulators in the U.S.» Read More
In 2016, the United States Securities and Exchange Commission (“SEC”) brought a civil suit in the United States District Court for the Northern District of Texas, Dallas Division, against Arcturus Corporation, a Texas corporation (“Arcturus”); Aschene Energy LLC (“Aschene”), a Texas limited liability company; and Leon Ali Parvizian, a U.K.» Read More
In contrast to the vast majority of tech companies that go public using an Initial Public Offering (IPO), Slack recently used a Direct Public Offering (“DPO”). Before that, Spotify went the DPO way. Could this be the beginning of a tech trend?» Read More
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