ISDA March 2012 Supplement and Protocol
By Robin Powers | Mar 30, 2012
ISDA has announced the launch of the 2012 US Municipal Reference Entity CDS Protocol. The purpose of the Protocol is to make similar changes to US Municipal CDS transactions (“Muni CDS”) as were made to corporate and sovereign CDS by the 2009 ISDA Credit Derivatives Determinations Committees and Auction Settlement CDS Protocol. The Protocol is open for adherence and closes at 5pm New York time on Monday April 2, 2012.
SEC Amends Rules on Advisory Performance Fee Charges
By Rimon Admin | Mar 27, 2012
On February 15, 2012, the U.S. Securities and Exchange Commission adopted amendments to Rule 205-3 of the Investment Advisers Act of 1940 consisting of: (i) changes to the dollar amount thresholds which determine whether an individual or company is a “qualified client;” (ii) changes to the net worth test in the definition of “qualified client;” (iii) inclusion of two transition, or “grandfather,” provisions which permit investment advisers and clients to continue operating under advisory contracts entered into before adoption of these amendments.
“Employees” v. “Independent Contractors”: A Benefits Perspective
By Thomas M. White | Mar 20, 2012
The Internal Revenue Code provides significant tax benefits to employers that sponsor tax-favored retirement and health and welfare plans. For example, in calculating an employer's income tax, the current cost of providing benefit coverage may be deducted from taxable income, although plan participants are not currently taxed on the benefits at that time. However, these tax benefits are available only if the employer sponsoring the plan does not discriminate against its rank and file employees. Determining who are in the group of covered employees for discrimination testing is critical to the analysis.
SEC’s new standard for “accredited investors” took effect February 27, 2012
By Rimon Admin | Mar 01, 2012
The U.S. Securities and Exchanges Commission’s new standard to determine whether a party qualifies as an “accredited investor” went into effect Monday, February 27, 2012