The section 987 regulations that were finalized in 2024 after decades of revision are getting yet another makeover. On February 25, 2026, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued...more
The Internal Revenue Service (IRS) recently released Notice 2025-72 as a preview of forthcoming regulations addressing the repeal of the one-month deferral election under Section 898(c)(2) and modifications to the treatment...more
The High Court has held that broadly framed “protection of interests” provisions did not permit a firm in special administration to close out its foreign exchange positions. Directions to close out sought - Argentex...more
The alliance between President Javier Milei’s La Libertad Avanza (LLA) and former President Mauricio Macri obtained 41 percent of the vote in Argentina’s midterm election on Sunday, October 26. Kirchnerismo/left-wing Peronism...more
Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on...more
Con el Boletín No. 39 del 19 de diciembre de 2024, el Banco de la República adicionó el Numeral 8.1 a la Circular Reglamentaria DCIP-83, prohibiendo a partir de su publicación el desembolso de créditos entre residentes...more
Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. ...more
This note considers the current state of the law in Hong Kong with respect to foreign illegality and whether it can set aside defences of bona fide purchaser for value without notice or change of position, in the context of...more
The recently announced sanctions by the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) sent shockwaves through the Russian financial system, forcing the Moscow Exchange (MOEX) to halt trading of U.S....more
In a recent ruling, a California federal judge held that Kraken, an online cryptocurrency exchange program, has to turn over user information to the IRS as a result of a John Doe summons originally served on Kraken in 2021....more
Who may be interested: Registered Investment Advisers. Quick Take: The SEC settled charges against a registered investment adviser alleging that the adviser failed to fully disclose to its clients foreign currency...more
The consent order issued by the New York Department of Financial Services (NYDFS) to crypto asset exchange, Coinbase, serves as a reminder of regulators’ growing interest in ensuring that crypto asset companies meet their...more
In MUR Shipping BV v RTI Ltd the English Court of Appeal has overturned by majority the judgment of the Commercial Court in MUR Shipping BV v RTI Ltd [2022] EWHC 467 (Comm) and provided fresh guidance on when alternative...more
On September 21, 2022, the U.S. District Court for the Southern District of New York granted the IRS’s ex-parte motion for leave to serve a John Doe summons to M.Y. Safra Bank after the IRS’s investigation into digital asset...more