This chapter discusses and analyses the investment rules that apply to Solvency II insurers and reinsurers in the United Kingdom. In particular, this chapter will outline the “prudent person principle” and discuss the...more
Fiduciaries, such as trustees, financial advisors, corporate directors, and fund managers are legally bound to act in the best interests of their beneficiaries and/or clients. Duties owed by fiduciaries, including duties of...more
So far, 2022 has been a rough year for portfolio management. The war in Ukraine, China’s zero tolerance for COVID-19, 40-year inflation highs, and rising interest rates have created significant market volatility....more
Donors make contributions to donor-advised funds (“DAFs”) for a variety of reasons. One is that DAF rules permit the donor to make the contribution in the current year (which entitles the donor to a deduction in that year),...more
On February 19, 2020, the S&P 500 index closed at a record high of 3386.15. Since that date, markets in the United States, Europe, and Asia have experienced record volatility due to the effects of the COVID-19 crisis and many...more
For many Trustees, the current economic environment is probably the most challenging they have ever faced. As the coronavirus epidemic sweeps across the country and throughout much of the world, the stock markets have...more
The tension between preserving charitable assets for the future and spending them currently to address critical needs has perhaps never been greater. Both operating charities that make annual appropriations from their...more
Over the last several weeks, financial markets have seen some of the largest swings in history, and as a result, fiduciaries have seen dramatic shifts in the value of trust investments. Accordingly, fiduciaries should take a...more
Effective January 1, 2020, the new Illinois Trust Code (ITC) will replace the Illinois Trusts and Trustees Act, ushering in several changes of note for fiduciaries. In light of the ITC, fiduciaries and estate planners should...more
The death of a loved one or close friend is a traumatic experience. In addition to the emotional anguish, those who are charged with dealing with the decedent’s personal and financial affairs following death are often left...more
Acting in the best interests of the trust and the trust beneficiaries, a trustee has the duty to protect and preserve trust assets and, generally, to make the assets productive. In making investment decisions and managing...more
David F. Johnson, lead writer for the Texas Fiduciary Litigator blog, presented “Asset Concentrations and the Duty to Diversify” to the Texas Bankers Association’s Real Estate, Oil and Gas Conference, in San Antonio on March...more
New guidance permits private foundations to consider charitable purposes when making investments with a substantial purpose of capital appreciation or the production of income....more
On October 10, the European Commission (Commission) adopted two delegated acts (Delegated Acts) under the Capital Requirements Regulation ((EU) 575/2013) (CRR)...more
After a quiet start to the summer for probate litigation cases, the Supreme Judicial Court recently issued its much-anticipated decision in The Woodward School for Girls, Inc. v. City of Quincy, Case No. SJC-11390, 2014 Mass....more