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Member News
Member News
20
Aug
With highly contested midterm elections less than three months away, investment advisers must be aware of, and pay close attention to, the Securities and Exchange Commission’s (SEC) pay-to-play rule governing their business, SEC Rule 206(4)-5. The rule provides that when investment advisory firms and their covered associates make political contributions to certain candidates, the firms are prohibited from providing services for compensation to the governmental entities that the candidates can control or exert influence over. The rule also prohibits...
19
Aug
Key Points
The New York Limited Liability Company Transparency Act (NYLTA), effective January 1, 2026, applies exclusively to LLCs formed under the laws of a foreign country that are authorized to do business in New York — all U.S.-formed LLCs are exempt from its beneficial ownership information (BOI) reporting requirements.
Foreign LLCs authorized to do business in New York before January 1, 2026, must file an initial BOI Disclosure Report or Attestation of Exemption by December 31, 2026; those...
19
Aug
ESMA CSA on the risk management function
The European Securities and Markets Authority (ESMA) launched a Common Supervisory Action (CSA) on the risk management function of UCITS management companies and alternative investment fund managers (AIFMs) across the European Union. The CSA will be conducted throughout 2026 and 2027, in close collaboration with national competent authorities (NCAs).
The objective of the CSA is to assess how market participants comply with key risk–related provisions under the UCITS and AIFMD frameworks. The focus will be on...
18
Aug
What you need to know
Where an organization wishes to engage or move personnel overseas, the most common structures include:
Using an employer of record (EoR);
Having the employee work remotely under the home country employment contract;
Engaging personnel under an alternative working arrangement (e.g., as a contractor);
Seconding personnel to a local entity; and
Putting an employee on a leave of absence or the home country employment ceasing to operate and employing them with the local entity.
Each of these...
18
Aug
OpenAI recently disclosed that, during testing of one of its frontier artificial intelligence models, AI agents working to solve assigned tasks found ways to access the internet and ultimately infiltrate the systems of another AI company, Hugging Face. They did so through pathways OpenAI's developers never intended them to reach. The incident quickly dominated technology and cybersecurity headlines. It also prompted OpenAI to send two of its security engineers to Black Hat USA 2026, one of the cybersecurity industry's...
18
Aug
A report says companies are routing billions of goods from high-tariff countries like China through countries like Mexico, Vietnam and Malaysia.
Key Points
A White House report pegs tariff-evading transshipment at least $34.2 billion annually and names several countries as primary conduits for Chinese goods entering the U.S. under false origin claims.
Customs and Border Protection is deploying an AI-powered enforcement system that cross-references origin declarations, routing data, and component sourcing to flag evasion at scale.
Companies should review country-of-origin...
17
Aug
Key Points
A presidential proclamation issued August 13, 2026, imposes Section 232 tariffs of 100% on high-risk UAS and docking stations, and 25% on consumer and commercial drones under 25 kg, effective September 3, 2026.
Reduced tariff caps of 15% (EU, Japan, South Korea, Taiwan, Switzerland, Liechtenstein) and 10% (UK) apply only where importers certify that “substantially all” critical components originate from qualifying countries — a standard Commerce has not yet defined.
The Proclamation’s onshoring program allows companies that...
17
Aug
IPTI’s usual monthly newsletter – the “President’s Message” – contains, inter alia, some summarised news articles from around the world. This IPTI publication – “Property Tax in the News” – contains some of the more interesting news articles concerning property taxes in North America and Europe which is where many of our members have a particular interest. Links to these and more, similarly summarised, articles – from North America, Europe and around the globe – can be found in...