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FATCA goes live July 1
FATCA: What it is & why it may apply to your business
Even if a U.S. organization’s affiliate network does not include a foreign financial institution, it could be making payments subject to the Foreign Account Tax Compliance Act withholding requirements, and therefore FATCA compliance is a must. Read more >>
Spotlight on exec-pay arrangements
Institutional investor organization asks the SEC to require disclosure of ‘golden leashes’
Not all compensation arrangements are covered by the disclosure rules contained in Regulation S-K. This includes compensation paid to executives and directors by third parties (e.g., a private fund). But this may pose a problem because it is a long-standing principal of corporate law that executives and directors are not permitted to use their position of trust and confidence to further their private interests. Read more >>
Assessing cybersecurity risks
SEC increases focus on cybersecurity
The SEC is ramping up its focus on cybersecurity preparedness. On April 15, it announced it will mount an initiative to include examining more than 50 registered broker-dealers and registered investment advisers to assess their ability to defend against cyberthreats. Read more >>
Bank-secrecy rules apply to you, too
Bank Secrecy Act: broker-dealers must also comply
The Bank Secrecy Act also applies to nontraditional financial institutions, such as securities broker-dealers. While compliance with BSA rules is no easy task, compliance can and should be tailored to fit each company’s business and risks, considering variables such as size, location, activities, types of accounts and typical transactions. Read more >>
‘Intrastate exemption’ not worth it
Intrastate offering exemption still not useful despite new interpretations
While the crowdfunding startup community may be interested in the intrastate offering exemption, making an offering exempt from federal registration requirements, it’s really more trouble than it’s worth. Rule 506 may be a preferable option to raise capital. Read more >>
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This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken that might be influenced by this publication. Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 11 offices statewide. Established in 1925, the firm has expanded, diversified and evolved, but always with a singular focus: Florida and its clients’ stake in it. A magnet for business-savvy attorneys who embrace collaboration for the greatest advantage of clients, Gunster’s growth has not been at the expense of personalized service but because of it. The firm serves clients from its offices in Fort Lauderdale, Jacksonville, Miami, Orlando, Palm Beach, Stuart, Tallahassee, Tampa, The Florida Keys, Vero Beach and its headquarters in West Palm Beach. With more than 160 attorneys and 200 committed support staff, Gunster is ranked among the National Law Journal’s list of the 350 largest law firms. More information about its practice areas, offices and insider’s view newsletters is available at www.gunster.com. |
