Tag Archives: investors

SEC Investor Advisory Committee Considers Blockchain Technology

On Oct. 12, 2017, the Investor Advisory Committee of the U.S. Securities Exchange Commission (the SEC) hosted a panel discussion on blockchain technology. The session represented another instance of the SEC’s ongoing consideration of the impact of blockchain technology on U.S. securities markets and investors. Different perspectives on blockchain technology and its application to U.S. … Continue Reading

No Action Relief Regarding Variation Margin Rules

Yesterday, the U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) announced the issuance of a time-limited no-action letter stating that, from March 1, 2017 to September 1, 2017, DSIO will not recommend an enforcement action against a swap dealer (SD) for failure to comply with the variation margin requirements … Continue Reading

Massachusetts Offers Policy Guidance on Investment Advisers’ Use of Robo-Advisers

As robo-advisers continue to grow in popularity with investors, especially millennial investors, at least one regulator is taking a closer look.  On July 14, 2016, Massachusetts Secretary of the Commonwealth William Galvin issued a policy statement addressing the use by investment advisers under his jurisdiction of third-party robo-advisers.  This follows a similar policy statement by … Continue Reading

New New Guidance Regarding Barrier Options

In a recently released Chief Counsel Advice Memorandum (the CCA), the Internal Revenue Service broadened its scrutiny of so-called “barrier option” transactions, which taxpayers have used to defer recognition of income and to convert ordinary income and short-term capital gain to long-term capital gain.1  The government had previously announced that it would scrutinize these transactions … Continue Reading

‘Harvest’ Built-in Losses to Offset Capital Gains – The Trade Rule

As fund managers, insurance companies, and individual investors re-balance their portfolio at the end of the year, they often try to “harvest” built-in losses to offset capital gains. This implicates what tax lawyers call “the trade date rule.” With a few exceptions, the current income tax system has annual accounting periods, loss offsets, and a realization requirement. This … Continue Reading
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