March 25, 2020
Federal Reserve Opens Expanded Money Market Fund Liquidity Facility
On March 23, 2020, the Federal Reserve (Fed) announced the opening of an expanded Money Market Mutual Fund Liquidity Facility (MMFLF). The MMFLF will last until September 30, 2020 and applies to money market funds (MMFs) that identify themselves as prime, single state, or other tax exempt MMFs on Form…
March 19, 2020
Federal Reserve Creates Money Market Fund Liquidity Facility
On March 18, 2020, the Federal Reserve (Fed) announced the creation of a Money Market Mutual Fund Liquidity Facility (MMFLF). The MMFLF will last until September 30, 2020 and applies to money market funds (MMFs) that identify themselves as “prime” MMFs on Form N-MFP. Under the MMFLF, eligible borrowers (certain…
February 15, 2019
SEC’s Division of Investment Management Issues Information Update Regarding Updated Forms
On February 1, 2019, the staff of the SEC’s Division of Investment Management issued an Information Update to indicate that several forms (e.g., Forms N-1A, N-2, N-14 and N-CSR) on the SEC website have been updated to reflect amendments recently adopted by the SEC.
September 18, 2018
Elad Roisman Sworn in as SEC Commissioner
On September 11, 2018, Elad L. Roisman was sworn into office as an SEC Commissioner by SEC Chairman Jay Clayton. Mr. Roisman was nominated to the SEC by President Donald J. Trump, and his nomination was confirmed by the U.S. Senate on September 5. Commissioner Roisman comes to the SEC from the Senate Banking Committee, where he served as Chief Counsel.
December 27, 2017
Final Tax Reform Legislation
On December 20, 2017, Congress passed tax reform legislation (the "Tax Act"). President Trump signed the Tax Act into law today. Most provisions take effect for tax years beginning after December 31, 2017. This Memorandum updates our previous analysis of the House and Senate Tax Acts, and focuses particularly on the issues that are most relevant to our Investment Management, Trusts & Estates and Family Office clients. Seward and Kissel's Trusts and Estates group has also reviewed the Tax Act and offered guidance on year-end planning. Section I of this Memorandum describes notable individual and corporate income tax changes. Section II describes certain provisions that affect investment managers. Section III describes certain provisions that affect investment funds.
October 27, 2017
SEC Guidance on Non-GAAP Financial Measures
On October 17, 2017, the SEC Division of Corporation Finance issued new guidance on the use of non-GAAP financial measures.
September 4, 2017
Dalia Blass named Director of the Division of Investment Management
Dalia Blass has been named Director of the Division of Investment Management. The Division oversees and regulates the multi-trillion dollar investment management industry. It is responsible for the regulation of investment companies, variable insurance products, and federally registered investment advisers.
August 3, 2017
Director of the Division of Investment Management to leave the SEC
The SEC announced today that David W. Grim, Director of the Division of Investment Management, will leave the agency next month after more than 20 years of public service. The SEC announced today that David W. Grim, Director of the Division of Investment Management, will leave the agency next month after more than 20 years of public service.
June 22, 2017
Seward & Kissel Participates in Washington, DC Compliance Roundtable
Click here for notes from June 15, 2017 members meeting with Mark J. Dowdell, Assistant Regional Director of Securities and Exchange Commission (Philadelphia Regional Office).
May 2, 2013
OCIE Director to Leave the SEC
Carlo V. di Florio has announced that he is stepping down as Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE). Mr. di Florio was appointed Director of the SEC’s OCIE in January 2010. He was also in charge of the National Exam Program, which is comprised of…