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MagStone News
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IRS Releases Proposed Regulations on Foreign Investment in Opportunity Zone Funds
September 24, 2024 On April 12, 2021, the U.S. Internal Revenue Service ("IRS") issued proposed regulations ("Proposed Regulations") outlining the conditions that certain foreign taxpayers must meet to obtain tax benefits and reduce or eliminate -
U.S. Circuit Court of Appeals Overturns SEC's New Rules Targeting Private Funds
September 24, 2024 On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit ruled to overturn the U.S. Securities and Exchange Commission's ("SEC") new rules ("the Rules") targeting private fund advisers. -
New York State Imposes New Registration and Examination Requirements for Certain Investment Adviser-Related Individuals and Intermediaries
September 24, 2024 Effective February 1, 2021, amendments to the New York Investment Advisers Act ("Amendments") require certain individuals associated with investment advisers to meet new registration and examination requirements. -
California Court Rules Assembly Bill 979 Unconstitutional
September 24, 2024 On April 1, 2022, the Los Angeles County Superior Court in California ruled in Robin Crest, et al. v. Alex Padilla ("Crest Case") that Assembly Bill 979 (signed into law on September 30, 2020) violates the Equal Protection Clause of the -
Second U.S. State Passes DAO Legislation
September 24, 2024 On April 6, 2022, the Tennessee State Legislature passed a bill recognizing and allowing Decentralized Autonomous Organizations (DAOs) to register as Limited Liability Companies (LLCs), aiming to make "Tennessee the Delaware of DAOs." -
Employer's Right to Require Arbitration of Labor Disputes May Be Deemed Waived Due to Delay in Enforcement
September 24, 2024 On May 23, 2022, the U.S. Supreme Court clarified in Morgan v. Sundance that federal courts must not create legal standards that favor arbitration over litigation.
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