Wills, Trusts, & Estate Planning, Business Organization, Administrative Law

PBGC Changes Enforcement Policy Under ERISA Section 4062(e)

by Lisa H. Barton, Brian J. Dougherty, Eric P. Sarabia, R. Randall Tracht | Morgan Lewis on 11/13/2012

No action will be taken against creditworthy companies or small pension plans; no financial guarantees will be required for approximately 92% of applicable employer-plan sponsors. On November 2, the Pension Benefit...more

CRA Provides Update on Audit Priorities and Activities

by Dentons on 11/1/2012

At the Canadian Tax Foundation’s recent Ontario Tax Conference (October 29-30), the Canada Revenue Agency provided an update on its current audit priorities and activities as part of the conference’s “Tax Administration...more

A Misleading Article in the Wall Street Journal (Weekend Investor) Suggesting that Social Security is a Funded Pension Plan.

by Charles E. Rounds, Jr. on 11/1/2012

Two U.S. Supreme Court cases long ago confirmed that Social Security is an unfunded federal welfare program. One writer at the Wall Street Journal has apparently yet to get the message. ...more

Wealth Management Update - August 2012

by Proskauer Rose LLP on 8/2/2012

In This Issue: - August Interest Rates - Portability Regs. - U.S. v. Johnson, Case No. 2:11-CV-00087, U.S. District Court (May 23, 2012) - New Net Investment Tax Will Afflict Almost All Non-Grantor...more

Act Fast to Capture Benefit of Current Gift Tax Exemption

by Janet Brewer on 7/12/2012

Bay Area families that have yet to take advantage of the current gift tax exemption are running out of time. As of midnight on December 31, 2012, the $5 million exemption disappears and will be replaced by a $1 million...more

Living Wills: The First Submissions

by Morrison & Foerster LLP on 7/2/2012

Last Friday, June 29, 2012, the Federal Deposit Insurance Corporation the "FDIC") and the Federal Reserve Board (the "Board") announced the process for their receipt and review of the first wave of resolution plans to be...more

Some Important Bills To Watch Tomorrow

by Allen Matkins Leck Gamble Mallory & Natsis... on 7/2/2012

Tomorrow, the Assembly Judiciary Committee will hear several important bills that passed out of the Senate: - SB 323 (Vargas) - This bill would enact the California Revised Uniform Limited Liability Company Act to...more

Wealth Management Update -- December 2011

by Proskauer Rose LLP on 12/21/2011

IN THIS ISSUE: - December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - Revenue Procedure 2011-48 (October 14, 2011) - Publication...more

Living Will Requirements Come into Focus

by Dechert LLP on 9/21/2011

The FDIC Board of Directors has adopted a final rule setting forth the requirements for the “living wills” to be filed by large bank holding compa-nies (“BHCs”) and systemically important nonbank financial companies under...more

SEC Adopts Final Definition of “Family Offices” Exempt From Investment Advisers Act

by McDermott Will & Emery on 9/20/2011

On June 22, 2011, the Securities and Exchange Commission (SEC) adopted its final rule (the Family Office Rule) under the Investment Advisers Act of 1940 (the Advisers Act) defining the term “family office” for purposes of the...more

FDIC Adopts Final Rule Requiring “Living Wills” For Financial Institutions; Rule Requires Financial Institutions To Describe How...

by Lowenstein Sandler LLP on 9/14/2011

On September 13, 2011, the Federal Deposit Insurance Corporation approved a final rule requiring certain financial institutions to prepare a plan for their dismantling in the event of material financial distress or...more

SEC Adopts Rule Defining “Family Office”

by Miller & Martin PLLC on 8/18/2011

The Securities and Exchange Commission (the “SEC”) recently adopted a final rule (the “Rule”) defining “family offices” that are to be excluded from the definition of an investment adviser and corresponding registration...more

Designation of Systemically Important Financial Institutions, Living Wills and Enhanced Prudential Regulation One Year Later: A...

by Dechert LLP on 7/14/2011

Congress passed the Dodd-Frank Act one year ago to reduce or eliminate the risks that led to the financial crisis. Today, there is growing concern that the laser-like focus on risk reduction was not properly balanced by an...more

Dodd-Frank Rulemaking Update: Resolution Plans/Living Wills

by Morrison & Foerster LLP on 7/12/2011

The July 6, 2011 Federal Deposit Insurance Corporation Board of Directors (the “FDIC Board”) meeting marked the changing of the guard from Chairman Sheila Bair to FDIC Vice Chairman Martin Gruenberg. Chairman Bair’s...more

Social Security Legally Is Just a Government Welfare Program

by Charles E. Rounds, Jr. on 7/8/2011

It all comes down to political risk versus market risk. Social security legally is merely a government welfare program masquerading as a quasi-private funded defined benefit pension plan. Social security bestows no legally...more

Living With 'Living Wills'

by Reed Smith on 4/14/2011

The Dodd-Frank Act (the "Act") contains several provisions creating significant compliance challenges for covered financial institutions. Some of the measures will impose novel responsibilities. Some may change the way firms...more

What Do Your Twitter Stats Really Mean?

by Rocket Matter on 10/27/2010

To anyone on Twitter, raise your hand if you don’t pay attention to your number of followers. No matter how not vain you claim to be, your follower number is something that tugs oh-so-gently at your consciousness. To those...more

Are Your Charitable Trusts Supporting Organizations? Should They Be? A Trust Officer's Road Map to Type III Supporting...

by Reed Smith on 4/30/2010

What has changed? Why should bank trust departments be concerned? It has been more than three years since the Pension Protection Act of 2006 ("PPA") changed the requirements for Type III supporting organization ("Type III...more

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Wills, Trusts, & Estate Planning › Business Organization › Administrative Law