Category Archives: Financial Services Law
Once Is Not Enough: The Importance of Regular Communication Between Testators and Their Lawyers
Jonathan L. Loew of Much Shelist, P.C. recently had an article about Communication Between Testators and Their Lawyers appeared in The National Law Review: When it comes to estate planning, an ounce of prevention is worth a pound of cure. Equally important, continuing consultation with a knowledgeable lawyer need not be time consuming or costly. Periodic reviews …
Michigan Court of Appeals Issues Opinion Affecting Mortgages Foreclosed by Advertisement
The National Law Review published an article by Randall J. Groendyk of Varnum LLP regarding Mortgage Foreclosures: The Michigan Court of Appeals has issued important opinion affecting foreclosure of mortgages by advertisement. Michigan law prohibits starting a foreclosure by advertisement if a lawsuit has already been filed to recover payment of “the debt” secured by the mortgage. Many have …
Why Your Qualified Plan – Isn’t
Recently The National Law Review published an article by Ben F. Wells and William M. Freedman of Dinsmore & Shohl LLP regarding Qualified Plans: There are many generous tax benefits that come from having a “qualified” retirement plan (such as a section 401(k) plan). For example, as an employer, you can deduct your plan contributions, but participating employees don’t have to …
With Form PF Compliance Dates Quickly Approaching, Advisers Managing $150 Million or More of Private Fund Assets Should Begin to Prepare
An article about Form PF Compliance written by Eric R. Markus, Victor B. Zanetti, and William L. Rivers of Andrews Kurth LLP recently appeared in The National Law Review: On October 26, 2011, the Securities and Exchange Commission (the “SEC”) adopted Rule 204(b)‑1 under the Investment Advisers Act of 1940 (the “Advisers Act”) to require certain investment advisers that advise private …
FTC Obtains Injunction, Asset Freeze on Alleged Mortgage Scam
The National Law Review recently published an article by Steven Eichorn of Ifrah Law regarding a Recent FTC Injunction: The Federal Trade Commission has obtained an order from the federal court for the Central District of California for a preliminary injunction and asset freeze against all the defendants in an alleged mortgage modification scam. The complaint was filed against California-based Sameer …
Protecting Your Rights as an Additional Insured: Why a Certificate of Insurance Is Not Enough
An article by Daniel J. Struck and Neil B. Posner of Much Shelist, P.C. regarding Certificates of Insurance recently appeared in The National Law Review: When entering into some types of contracts, you likely require that your business be named as an “additional insured” on the other party’s insurance policies. You might do this so that your insurance will not be depleted by …
Process Improvement Can Drive Shareholder Returns: Is Your Institution Ready for Process Improvement?
Recently an article by The Financial Institutions Group of Schiff Hardin LLP regarding Process Improvement was published in The National Law Review: Many banks have been fighting for their lives since the financial crisis began in 2008—focusing on improving credit quality, finding capital and persuading the regulators to release enforcement actions. As the economy slowly improves and bank balance sheets stabilize, …
Does Your Firm’s Standard Lien Language Create a Possibility that Your Customer IRAs May Lose Their Tax Exempt Status and Protection from Third-Party Creditors?
Recently The National Law Review published an article by Jon Andrew Jacobson, Scott E. Rahn, Alex J. Rosenthal and Adam M. Starr of Greenberg Traurig, LLP regarding Lein Language for IRAs: It is not uncommon for firms to use standard language in their account agreements that creates liens on Individual Retirement Accounts (IRAs). Two recent federal court decisions, however, suggest that granting such a …
Finally the Final … 408(b)(2) Regulation
Recently The National Law Review published an article by Fred Reish and Bruce L. Ashton of Drinker Biddle & Reath LLP regarding The DOL Service Provider Fee Disclosure Regulations: The Department of Labor (DOL) has issued the long-anticipated final service provider fee disclosure regulation (the “408(b)(2) regulation”). (A complete copy of the final regulation and its preamble is at http://www.drinkerbiddle.com/files/ftpupload/pdf/408b2reg. pdf) In this Alert, we describe what …
IRS Extends Transition Relief for Puerto Rico Qualified Plans to Participate in U.S. Group Trusts and Deadline to Transfer Assets
Posted in the National Law Review an article by attorney Nancy S. Gerrie and Jeffrey M. Holdvogt of McDermott Will & Emery regarding U.S. employers with qualified employee retirement plans that cover Puerto Rico: On December 21, 2011, the U.S. Internal Revenue Service (IRS) issued Notice 2012-6, which provides welcome relief for U.S. employers with qualified employee retirement plans that cover Puerto Rico …
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