ADISA President Named a Woman of Influence by GlobeSt.com
ADISA congratulates our 2024 President Jade Miller, president of capital markets at Bourne Financial Group, who has been named to GlobeSt.com's Women of Influence Class of 2024! Since 1983, this award has recognized a growing number of commercial real estate female professionals for their remarkable achievements. The individual honorees have personally impacted the market and have significantly driven the industry to new heights via their outstanding successes. Congratulations, Jade! Read the full release here.
ADISA Advocates on Capitol Hill For Less Regulation
ADISA Executive Director John Harrison and HillStaffer’s Morgan Muchnick, here with Christian Chelak, legislative assistant to Senator Mike Lee (R-Utah), conducted two days of meetings on Capitol Hill last week concerning over-regulation in the financial services sector. These meetings, held with members of both the House of Representatives and the Senate, were bipartisan and aimed at addressing the challenges and inefficiencies caused by excessive regulatory measures. During their discussions with lawmakers and staff, Harrison and Muchnick emphasized the importance of a balanced approach to public policy that ensures investor protection while fostering innovation and capital formation within the sector.
John Harrison visiting Christian Chelak, LA and Sen. Mike Lee, Utah (R).
The ADISA delegation highlighted for Hill staff several recent court decisions, including the Supreme Court’s landmark Chevron case, as well as the Fifth Circuit Court of Appeals unanimous decision to vacate the SEC’s Private Fund Advisor’s Rule, both indicative of a shift in rulemaking authority of agencies. The result of these cases, ADISA pointed out, properly raises the onus on Congress to reassume its regulatory mandate, dampening administrative agencies independent efforts to effectively act as lawmakers. ADISA reinforced its willingness to assist in evaluating and researching effects of proposed legislation—assistance likely to be more necessary with the enhanced need for clearer legislation.
ADISA secured several key outcomes in these meetings on behalf of ADISA members:
Commitments to streamline regulations
Further pledges to reduce unnecessary compliance burdens
A desire to promote a more dynamic and competitive financial services environment.
ADISA is already assisting with follow-up research on the effects of the Chevron decision, at the request of a key leader in the House of Representatives.
ADISA Launches New Ops Tech Committee
ADISA’s board of directors recently established a new subcommittee to enhance ADISA’s operations technology efforts. The official charge of the subcommittee includes developing ADISA’s efforts to educate members on operations technology as it applies specifically to the retail alternative investment space. Such efforts also establish a discussion forum of members and vendors of this technology. The board appointed Aaron Pollak (VENTURE.co) as the initial chairman of the committee. The group is already off and running developing several sessions for the Annual Conference, and in addition to Aaron Pollak so far includes Nick Duren (Crescent Securities), Drew Jackson (Capital Square), Katie Coffey (US Energy), Tony Olivo (Phoenix American), and Doug Blake (Kingswood). The subcommittee reports to ADISA’s chair of education and publications, Greg Mausz (Skyway Capital).
FINANCIAL INDUSTRY AND REGULATION
DOL Not Backing Down On Rules Despite Chevron:Bloomberg Law reports that Acting Labor Secretary Julie Su said last week the Department of Labor will press forward with rules and policies in the wake of the US Supreme Court’s ruling that overturned the Chevron deference last month that dealt a blow to the rule making
SEC Allowing Crypto Holding Exceptions:Bloomberg Tax reports that the Securities and Exchange Commission has opened a path for banks and brokerages to avoid reporting their customers’ crypto holdings on their balance sheets. But companies must offset risks those assets pose in order to bypass controversial
crypto accounting guidance that has become a target of Congress.
Chevron Decision May Upend IRS Stock Buyback Rules:The Wall Street Journal reports that that Supreme Court’s decision to reverse its Chevron doctrine could threaten a number of Internal Revenue Service regulations, including those
Withdrawing Emergency Cash From IRAs Made Easier By IRS: The IRS,reports The Wall Street Journal, has made it easier to take out up to $1,000 for any self-defined emergency from a traditional retirement account
Plaintiffs Seek Fiduciary Rule Injunction:Pensions & Investments reports that a group of nine insurance groups asked a federal judge for an injunction to stop the
DOL from implementing its new fiduciary rule while the case is pending.
Off-Channel Communications Tops Advisor Concerns:ThinkAdvisor reports that the 2024 Investment Management Compliance Testing Survey indicates a shift in advisors' compliance concerns, with off-channel communications the
Commissioner Says SEC Should Heed Congress:Bloomberg Law reports thatSEC Commissioner Hester Peirce said Wednesday that SEC rule-writers should understand what lawmakers want and avoid “creative” lawyers after the Supreme Court’s recent rollback of the Chevron doctrine that helped agencies craft
regulations without clear congressional authorization.
IRS Eases Crackdown On Conservation Easements: The Wall Street Journal reports that the IRS is making unusually generous settlement offers to participants in syndicated conservation easement tax-break deals the agency has been
Private-Equity Lobbyists Gearing Up For Tax Fight:The Wall Street Journal reports that an expected post-election battle over U.S. tax rates has private-equity lobbyists swarming Capitol Hill to protect their most valuable tax
Senators Press SEC Nominee On Climate Disclosure Rule: Pensions & Investments reports that SEC Commissioner Caroline Crenshaw defended her support of the agency’s public company climate disclosure rule during a nomination hearing on her second SEC term last week before the Senate Banking
ADISA's Public Policy Spotlight is manually curated by our government relations team and is a benefit of your ADISA membership. We do not sell, rent, or forward the ADISA membership list to anyone, and there is no linkage to other ads or any selling of the email addresses. It’s simply a service to the industry underwritten by ADISA.
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