Advisers Face Surging Challenges from Regulators: The DI Wire published an article by John Grady, ADISA’s Legislative and Regulatory co-chair, about how the alternative investments industry has been facing a surge of regulatory activity, creating an increasingly complex landscape for financial professionals committed to providing high-quality investment solutions for their clientele.

TNDDA Unites with ADISA: The DI Wire reports that ADISA and The National Due Diligence Alliance announced that the two organizations will unite under the ADISA name. The groups are expected to officially join together after TNDDA’s November 2024 conference.

FINRA Orders Firm to Pay $14.2 Million Over Fiduciary Duty Breach: Financial Advisor reports that Stifel, Nicolaus & Co. has been ordered by a Financial Regulatory Authority arbitration panel to pay an investor couple and their business more than $14.2 million in damages for allegedly breaching its fiduciary duty relating to a broker’s handling of their investments in structured notes.

Pennsylvania Non-Compete Case Continues: Bloomberg Law reports that a federal judge in Pennsylvania will allow a case challenging the Federal Trade Commission’s near-total ban on worker non-competes to proceed despite a Texas court vacating the regulation.

Treasury, IRS Issue Final Conservation Easement Regs: CPA Practice Advisor reports that The Department of the Treasury and the Internal Revenue Service Monday issued final regulations identifying certain syndicated conservation easement transactions as “listed transactions” – abusive tax transactions that must be reported to the IRS.

DST Fundraising Likely to Outpace Last Year: The DI Wire reports that as of Sept. 30, 2024, the year-to-date equity raise for Delaware statutory trust offerings was more than $3.9 billion, and the industry is on pace to raise more than $5.2 billion this year, a slight increase compared to the $5.04 billion raised in 2023.

Asset Managers Look for New Ways to Include Alts: PLANADVISER reports that asset managers, keen for years to bring alternative investments into defined contribution plans, are pushing ahead with relatively new pathways via collective investment trusts and interval funds, according to Cerulli Associates.

FINRA Issues Phishing Email Warning: Wealth Management reports that firms and advisors were hit with a phishing scam this week from fraudsters imitating FINRA executives, according to a FINRA cybersecurity alert issued Wednesday.

POLICY AND LEGISLATION

Election Could Impact Opportunity Zones, 1031 Exchanges: Kiplinger reports that investors and real estate professionals are keenly focused on how the election outcome might affect key tax deferral strategies, particularly qualified opportunity zones and 1031 exchanges.

Dan Gallagher Could Head Trump’s SEC: Politico reports that Robinhood Chief Legal Officer Dan Gallagher is emerging as a leading contender to head the Securities and Exchange Commission should Donald Trump win back the presidency.

FY 2024 Budget Deficit Totals $1.8 Trillion: The Wall Street Journal reports that the U.S. budget deficit topped $1.8 trillion when the 2024 fiscal year ended Sept. 30, driven by higher spending on interest and programs for older Americans, as the government faces a persistent gap between federal outlays and tax collections.