Treasury Releases Massive Minimum Tax Rulebook: The Wall Street Journal reports that the Treasury Department last week released 603 pages of proposed rules for the corporate alternative minimum tax, reaching a milestone in this exceptionally complex endeavor for regulators and corporate tax executives.

BNY Starting New Alternative Investment Platform: Wealth Management reports that the Bank of New York Mellon Corp. is launching an alternatives investment platform, called Alts Bridge, for wealth intermediaries and financial advisers.

SEC Crackdown on Off-Channel Communications Continues: The DI Wire reports that the Securities and Exchange Commission announced charges and a $1.3 million penalty against 12 municipal advisers for failures by the firms and their personnel to maintain and preserve certain electronic communications.

Reporting Errors Cost Firms $3.4 Million: InvestmentNews reports that the SEC Tuesday announced it has charged 11 institutional investment managers for failing to file required Form 13F and Form 13H reports disclosing securities holdings and that they will pay a combined $3.4 million penalty.

Stock Pricing, Exchange Fee Changes Get SEC Approval: Financial Advisor reports that the SEC Wednesday unanimously approved rules that will allow thousands of stocks and exchange-traded funds traded on exchanges to be quoted in half-penny increments.

POLICY AND LEGISLATION

Congress Wants Answers About SEC Crypto Airdropping Approach: Fox Business reports that House Majority Whip Tom Emmer and Rep. Patrick McHenry are seeking clarity on the SECs regulatory approach to a method of distributing crypto tokens known as “airdropping."

Financial Advice Deduction Restoration Sought: Financial Advisor reports that a coalition of leading financial planning organizations Tuesday asked a House committee to reinstate the tax deduction for financial advice, which was cancelled as part of the Tax Cuts and Jobs Act of 2017.

SALT Cap Reversal Promised: Donald Trump promised Tuesday that if elected he intends to reverse the $10,000 cap on the state and local tax deduction enacted as part of his 2017 tax bill, reports Financial Advisor.

House Rejects Effort to Stop Partial Federal Shutdown: The Wall Street Journal reports that a House bill to fund the government was voted down 202-220 Wednesday, underscoring the divisions within the Republican Party but potentially setting the stage for talks with Democrats on avoiding a partial shutdown on Sept. 30.

Bill Passes House to Block ESG Investing: National Association of Plan Advisors reports that the House Wednesday approved legislation by a party-line 217-206 vote to prevent the use of environmental, social and governance factors when making investment decisions for retirement plans.