Akin Gump has issued an alert on administration and congressional activity since President Trump’s inauguration. The report highlights key regulatory and legislative developments across a range of policy areas. This document also previews the policy agenda for the coming year and concludes with a political update and analysis of the 2018 congressional elections.
This week we highlight Deloitte’s M&A trends report, which surveys 1,000 executives at corporations and private equity firms for their take on M&A activity in 2017 and their expectations for 2018. The results are clear, with respondents overwhelmingly predicted a strong year for M&A activity ahead.
On November 2, 2017, the House of Representatives released the first draft of the Tax Cuts and Jobs Act (the Bill), which could result in the most significant overhaul of the U.S. federal tax system since 1986. Subsequently, two substantive amendments were introduced by the Chairman of the House Ways and Means Committee. While the Bill is expected to change substantially and the Senate version remains to be unveiled, the Bill provides certain indications as to how tax reform may affect investment funds and asset managers. Significant aspects can be summarized as follows:
Akin Gump real estate partner John Bain has been profiled by Metropolitan Corporate Counsel in the article “To Make Deals in Hospitality Today, You Need to Be Creative: As the challenges mount, lawyers need to adapt,” discussing his practice and the state of the hospitality sector.
To read the full article, please click here.
“Why Private Companies Shouldn’t Overlook the Benefits of Directors and Officers Liability Insurance,” an article by Akin Gump litigation partner Douglas Rappaport, counsel Jacqueline Yecies and associate Tim Shepherd, with co-authors, has been published by Marsh.
As stated in our May 25, 2017 Executive Compensation, Employee Benefits and ERISA Alert, the Department of Labor’s (DOL’s) new fiduciary rule (“Fiduciary Rule”) became partially applicable on June 9, 2017. Set forth below are a few questions that a typical private fund manager might have in response to the Fiduciary Rule, and our responses thereto.
As previously reported, New York City is set to ban firms from inquiring about prospective employees’ salary history in connection with the recruiting and hiring process. On May 4, 2017, Mayor Bill de Blasio signed the bill into law, and the new law will take effect on October 31, 2017. In the attached article, published in the Hedge Fund Law Report on May 11, 2017, we describe the new law, including what practices will and will not be permitted, and provide advice regarding what steps firms should take to prepare in advance of the law’s implementation.
Click here to read the full article.
The Fiduciary Rule, which expands the circumstances under which providers of investment advice may be considered Employee Retirement Income Security Act of 1974 (ERISA) fiduciaries, was initially published in the Federal Register on April 8, 2016, became effective on June 7, 2016, and had an original applicability date of April 10, 2017. On March 2, 2017, in response to a February 3, 2017 presidential memorandum directing the DOL to re-examine the Fiduciary Rule, the DOL published a notice proposing a 60‑day delay in the applicability date of the Fiduciary Rule. On April 7, 2017, the DOL promulgated a final rule delaying the applicability date of the Fiduciary Rule by 60 days from April 10, 2017 to June 9, 2017.