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On April 20, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC, and together with the SEC, the “Agencies”) proposed a comprehensive overhaul of Form PF. Form PF is the confidential reporting form through which covered private fund advisers report portfolio exposures and risk information to the SEC and, if also registered as commodity pool operators or commodity trading advisers, to the CFTC (the “Proposed Form PF Changes”).

The Federal Trade Commission (FTC) has published an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comment on the attached proposed rule regarding what the FTC characterizes as unfair or deceptive rental housing fee practices. Such a rule could result in significant new risks and costs, and also create operational inconsistencies that may impact the ability to finance and operate all types of rental housing (including affordable housing where special issues may arise to comply with the rule, as well as state and federal housing subsidy programs).

Compliance of a US Department of Health and Human Services rule finalized nearly two years ago requiring recipients of federal funds to make their websites, mobile applications and any programs delivered through kiosks accessible to individuals with disabilities is required starting next month.

It is estimated that $1.5 to $2 trillion is passed annually to younger generations. As the "Great Wealth Transfer" continues, family business owners face a distinct set of personal and sometimes conflicting wealth transfer considerations. These include preserving control, minimizing estate taxes and transaction costs and equitably transitioning ownership across generations. A well-designed estate plan, incorporating both testamentary planning and inter vivos transactions, can accomplish these objectives. This advisory summarizes three strategies that enable a family business owner to transfer future upside to the next generation (G2) while reducing transfer taxes: recapitalizations and discounted sales, sales and gifts to intentionally defective grantor trusts and grantor retained annuity trusts.

The explosive growth of artificial intelligence (AI), cloud computing and digital infrastructure has created unprecedented demand for data center development. Developers and investors are increasingly focused on assembling land parcels in strategic locations to accommodate large-scale data center projects.