News & Analysis as of

High Net-Worth

Davis Tax Committee report

by Hogan Lovells on

The Davis Tax Committee (the Committee) released a further report on "Tax Administration" on 13 November 2017 as part of the final six reports that were deliverable by the Committee. ...more

Comply With the U.S. Treasury’s OFAC Regulations and Avoid Possible Enforcement Action

by Butler Snow LLP on

For a variety of reasons, the United States government prohibits foreign and domestic individuals, groups, companies and other entities from enjoying the benefits of participating in the U.S. economy. ...more

The Unified Framework for Tax Reform: Impact on Transfer Tax Planning for the High-Net-Worth Individual

by McDermott Will & Emery on

The Trump Administration, the House Committee on Ways and Means and the Senate Committee on Finance released their Unified Framework (Framework) for Tax Reform on September 28. There were few surprises and fewer details...more

Cleared for Departure: Pre-trip Planning Focused on Risk for Executives and HNW Individuals

Whether for work or pleasure, international travel today poses a series of unique threats, especially for executives and high-net-worth individuals. Being well informed about the region and country you will be...more

IRS Targets Globally-Mobile Individuals and Businesses: The Importance of Proactive Planning

IRS targets globally-mobile individuals and businesses through its Global High Wealth Industry Group and its Large Business and International Division. Targeted taxpayers find these audits distracting, taking time from...more

Italy introduces a 'New Resident' regime to attract high net worth individuals

by DLA Piper on

On March 8, 2017, Italian tax authorities released the implementation rules to the newly introduced Italian “new resident” regime to attract high net worth individuals to Italy. The primary benefit of the regime is an annual...more

A Bigger Slice of PI: The SFC Consults on Broadening the Categories of High Net Worth Professional Investors

by Allen & Overy LLP on

On 1 March 2017, the Securities and Futures Commission (SFC) published a consultation paper on proposals to standardise the rules for prescribing professional investors. The Proposals - The SFC proposes...more

Wealth Management Update - December 2016

by Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

For high net worth individuals - What can you do before the end of the year to protect against potential changes in the tax laws? ...

by Dickinson Wright on

President-elect Trump has posted his tax proposals on his website. Although we are unable to say with certainty whether any of these proposals will be enacted, we address three of his proposals and our suggestions. Any of...more

2016 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity Funds and Other Private Funds

by Proskauer Rose LLP on

This special report provides a summary of some of the significant changes and developments that occurred in the past year in the private equity and hedge funds space, as well as certain recommended practices that investment...more

Tax Planning for High-Net-Worth Individuals under a Trump Presidency

by McDermott Will & Emery on

Tax reform is one of the central components of Donald Trump’s platform, and in many respects, his goals for tax reform are aligned with those described in the Tax Reform Task Force report issued by the House Republicans last...more

Have Your Cake and Eat it Too? “Zeroed Out” Grantor Retained Annuity Trusts

With IRS-prescribed interest rates at historic lows and much like Intra-Family Loans described in a previous blog, a Grantor Retained Annuity Trust (GRAT) presents an excellent opportunity to transfer wealth to lower...more

Halloween Tax Alert: Beware of the IRS "Wealth Squad"

by Jackson Walker on

What’s scarier than zombies, clowns, or vampires? The dreaded Global High-Wealth Industry Group, a/k/a the IRS’s “Wealth Squad.” The Wealth Squad is comprised of highly-specialized examiners and other professionals whose sole...more

A Different Kind of Board: Bret Magpiong Explains the Phenomenon of Family Boards of Advisors

When most people think about boards, they usually consider boards of directors for public or private companies, or non-profit boards. But there are other types of boards that rarely come to mind. Bret Magpiong, Chief Practice...more

Treasury Proposes Regulations That Would Require Private Trust Companies to Establish or Enhance AML Programs and to Identify...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published proposed regulations on August 25, 2016 that would require certain private trust companies utilized by high net worth individuals,...more

Asset Protection Wake Up Call: Data Security Top Concern for High Net Worth Investors

A recent study asked high net worth investors which of the following issues they were most concerned about: terrorism, data security, or a major illness. The most prevalent response might surprise you. Seventy-two percent...more

SEC Issues Order Raising Threshold for Net Worth Test to Adjust for Inflation

by Reed Smith on

On June 14, 2016, the Securities and Exchange Commission (the “SEC”) issued an order, effective August 15, 2016, with respect to Rule 205-3 under the Investment Advisers Act of 1940 (the “Advisers Act”), raising the net worth...more

SEC Increases Performance Fee Net Worth Threshold for Qualified Clients

Effective August 15, 2016, the net worth threshold for qualified clients under Rule 205-3 is increased from $2 million to $2.1 million. If you have advisory agreements or subscription agreements that require a client or...more

Recent Amendment of SEC’S “Qualified Client” Definition

by Winstead PC on

The SEC recently adopted an amendment increasing the net worth threshold set forth in the definition of "qualified client" under the Advisers Act. For an investment adviser that is registered with the SEC, or one that is...more

SEC Increases Performance Fee Thresholds

by Foley Hoag LLP on

As noted in a previous alert, the Securities and Exchange Commission has now issued an Order, effective as of August 15, 2016 (the "Effective Date"), which amends SEC Rule 205-3 (the “Performance Fee Rule”) under the...more

Net worth threshold for "qualified clients" under Investment Advisers Act will increase effective 8/15/2016

by DLA Piper on

Effective as of August 15, 2016, the net worth threshold for qualified clients under Investment Advisers Act Rule 205-3 will increase from $2 million to $2.1 million. ...more

SEC Orders Increase in Qualified Client Threshold

The Securities and Exchange Commission (SEC) issued a final order on June 14 to adjust for inflation the net-worth threshold for a registered investment adviser to charge performance-based compensation to its advisory clients...more

SEC to Adjust Net Worth Threshold for Qualified Clients

by Bryan Cave on

On June 14, 2016, the U.S. Securities and Exchange Commission (“SEC”) issued an order increasing the net worth threshold for “qualified clients” under the Investment Advisers Act of 1940 (“Advisers Act”). This change, made...more

SEC Increases Qualified Client Net Worth Threshold

by Shearman & Sterling LLP on

Every five years, the US Securities and Exchange Commission is required to adjust for inflation the agency’s dollar-based qualification tests for when an SEC-registered investment adviser can receive compensation based on...more

SEC Adopts Higher Net Worth Threshold for Qualified Clients under the Advisers Act

by Proskauer Rose LLP on

In an order dated June 14, 2016, the Securities and Exchange Commission (SEC) adopted its prior proposal to increase the net worth threshold for "qualified clients" under Rule 205-3 of the Investment Advisers Act of 1940 (the...more

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