Distribution Rules

News & Analysis as of

Trial Court Dismisses Georgia Patronage Capital Lawsuits

On May 2, a trial court in DeKalb County, Georgia, dismissed two class action patronage capital lawsuits filed against Oglethorpe Power Corporation, Georgia Transmission Corporation (GTC) and certain distribution electric...more

Discretionary Trust Interest Held Subject to Federal Tax Lien

Code Section 6321 imposes a federal tax lien for unpaid taxes upon “all property and rights to property, whether real or personal” that belong to the delinquent taxpayer. Is a beneficiary’s interest in a trust a property...more

Three Key Takeaways from NAFOA's 34th Annual Conference

The Native American Finance Officers Association (NAFOA) held its 34th annual conference on April 17-20, 2016, at the Gila River Indian Community's Sheraton Wild Horse Pass Resort in Phoenix. NAFOA is a national non-profit...more

Blog: The Insurance Distribution Directive, The Commission’s Call For Advice, And Next Steps

The Insurance Distribution Directive (IDD) came into force on 23 February 2016, and it must be transposed into the national laws of the Member States of the European Union by 23 February 2018. In the meantime, the European...more

SEC’s Division of Investment Management Offers New Guidance on “Distribution in Guise” Payments

On January 6, 2016, the Securities and Exchange Commission’s (“SEC”) Division of Investment Management issued its first written guidance (“New Guidance”) on payments made by mutual funds to intermediaries for distribution and...more

ECB recommendation on dividends in OJEU

ECB’s recommendation on banks’ dividend distribution policies has been published in the OJEU. It recommends that credit institutions with obligations under the fourth Capital Requirements Directive and Regulation package...more

Council adopts IDD

The Council has adopted the Insurance Distribution Directive (IDD). It agreed the text previously released (see FReD 11 December) without further discussion. The Council had previously published an item note to the Permanent...more

SEC Payments "in Guise" Case Resolves Little

The SEC has long considered whether mutual funds are making distribution payments “in guise”—i.e., payments primarily intended to result in sales of fund shares but disguised as something else. See “Feds Dig for Disguised...more

EBA publishes MDA opinion

EBA has issued its opinion on the trigger, calculation and transparency of the Maximum Distributable Amount (MDA). The opinion clarifies that the MDA should be calculated taking into account both minimum (Pillar 1) and...more

Court Rejects Private Equity Group’s Claims on Put Price in LLC Agreement

The Delaware Court of Chancery recently explained the calculation of a put price for units in PECO Logistics, LLC v. Walnut Investment Partners, L.P. The LLC Agreement provided as following methodology for calculating...more

"SEC Announces Enforcement Results for Fiscal Year 2015"

The Securities and Exchange Commission (the “SEC”) recently announced its enforcement results for fiscal year 2015. The release touted high-impact and first-of their-kind actions, as well as an increase in the number and...more

Corporate Investigations & White Collar Defense - October 2015

"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more

Treasury Finalizes Regulations on the Varying Interests Rule Under Section 706

On August 3, 2015, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations under Section 706(d), providing rules for determining the partners’ distributive shares of...more

SEC Charges Adviser and Distributor in Connection with Distribution Fee Sweep

On Monday, September 21, 2015, the Securities and Exchange Commission (SEC) charged a New York-based investment adviser and its affiliated distributor with misusing mutual funds’ assets to pay distribution and marketing...more

Status Update on Targeted Allocation Regulations

I’m at the ABA Tax conference this week and one of this morning’s first panels included a discussion of hot topics in partnerships. Curtis Wilson, IRS Associate Chief Counsel in Passthroughs and Special Industries,...more

New IRS Guidance Limits Tax-Free Spin-Off Rulings – Implications for REIT Spin-Offs

On September 14, 2015, the Internal Revenue Service (“IRS”) issued Notice 2015-59 (the “Notice”) and Revenue Procedure 2015-43 (the “Rev Proc”; together with the Notice, the “Spin-Off Guidance”). Under the Spin-Off Guidance,...more

Qualification of Certain Section 355 Spinoff Transactions Added to No-Rule List as IRS and Treasury Study the Topic

On September 14, 2015, the government released Notice 2015-59 and Rev. Proc. 2015-43, both relating to Section 355 spinoffs. They respond to government concerns about spinoff transactions that result in the distributing...more

IRS to Prohibit Lump-Sum Cashout Windows for Pension Plan Retirees

As described in a prior alert, the IRS issued Notice 2015-49, which abruptly announces the IRS’s intention to prohibit lump-sum cashout windows for pension plan retirees already in pay status. The IRS intends to prohibit...more

High Court Confirms Process For Distributing Client Money Held By Firm In Special Administration

In this case report, we consider the High Court judgment in Re Worldspreads Ltd v Re Investment Bank Special Administration Regulations 2011 [2015] EWHC 1719 (Ch) (19 June 2015). Originally published in Practical Law on...more

Proposed Regulations Require Significant Entrepreneurial Risk for a Service Partner's Income to be a Distributive Share

On July 22, 2015, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) released proposed regulations under Section 707(a)(2)(A) (the proposed regulations) which would treat certain partnership...more

Distribution Basics

The process of distribution is critically important to craft breweries; but, it is commonly misunderstood in relation to the overall operational success of a brewery. A common misconception by those entering the craft beer...more

IRS Issues Proposed Regulations Relating to Disguised Payments for Services and Discussing Tax Treatment of Management Fee Waiver...

On Wednesday July 22, 2015, the Internal Revenue Service (“IRS”) issued Proposed Regulations (REG-115452-14) providing guidance to partnerships and partners as to whether an arrangement between a partnership and a service...more

Financial Services Quarterly Report - Second Quarter 2015: Is the Long Wait Worth it? European Long-Term Investment Funds (ELTIFs)...

The long-awaited European regulation on European long-term investment funds (ELTIF Regulation) was finally published in the Official Journal of the EU on May 19, 2015. The ELTIF Regulation will offer fund managers a new label...more

Contract Brewing, Powdered Alcohol, Distillery Sales and More – What Does the N.C. Legislature Have in Store?

The North Carolina Senate Finance Committee passed House Bill 909 on 27 May 2015, which would make several significant changes to North Carolina alcoholic beverage control (“ABC”) laws. The fourth edition of the bill...more

Is it US taxable income? Unintended consequences when US residents receive assets from their family’s foreign corporations

It is not uncommon for affluent families from certain countries to maintain offshore structures to hold a portion, and often times a significant portion, of their wealth. The reasons for holding assets outside of their...more

45 Results
|
View per page
Page: of 2
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×