Agencies’ Statement Regarding Regulation O & Certain Investment Funds

August 25, 2020 - 3 min read

On December 27, 2019, the Federal Reserve, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation published a statement clarifying the application of Regulation O to certain investment funds. Regulation O (12 CFR 215) imposes restrictions on extensions of credit by banks and savings associations to executive officers, directors, and principal shareholders…

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IRS Offers Guidance on IRAs and the Secure Act

June 10, 2020 - 3 min read

The IRS published Notice 2020-6 in January, regarding relief for reporting required minimum distributions (RMD) for IRAs for 2020. Background: The SECURE Act changed the required beginning date applicable to certain retirement plans, including IRAs and annuities. The new required beginning date for an IRA owner is April 1 of the calendar year following the…

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