December 5, 2019 Alert

Hi all,

Below are this week’s alerts for the Investment Network.  Enjoy!

This Issue’s Topics:

  • Client Alert: Summary of the SEC’s Re-Proposal on the Use of Derivatives by Registered Funds and BDCs
  • Client Alert: Tax Insights, November 27, 2019 IRS Issues Final CFC Regulations
  • Chicago Financial Women (CFW): Favorite Things Gift Exchange and Book Swap
  • FREE: Chicago SRI/ESG Breakfast Meeting: Corporate Engagement
  • ACG Chicago: The Classic Market Trends Breakfast
  • FinTank’s Blockchain Meetup with Congressman Bill Foster

Publications:

Client Alert: Summary of the SEC’s Re-Proposal on the Use of Derivatives by Registered Funds and BDCs
November 27, 2019

On November 25, 2019, the Securities and Exchange Commission (the “SEC”) approved by seriatim action of the Commissioners without a meeting the release of proposed rule amendments to govern the use of derivatives and certain other transactions by registered investment companies and business development companies (the “Proposal”).  The Proposal supersedes an earlier proposal from December 2015 (the “2015 Proposal”).  Given the timing of the re-proposal, it appears that the SEC intends to adopt the rule in 2020.

To read more, click here.

Client Alert: Tax Insights, November 27, 2019 IRS Issues Final CFC Regulations
November 27, 2019

The IRS has issued final regulations (T.D. 9883) that amend the controlled foreign corporation (“CFC”) related party and CFC active rent rules to close certain planning opportunities. The final regulations also adopt, without change, proposed regulations issued in May. The final regulations limit the attribution of stock ownership or other ownership interests (downward attribution) for purposes of determining whether a person is related to a CFC under Section 954(d)(3).

To read more, click here.

Events:

Chicago Financial Women (CFW): Favorite Things Gift Exchange and Book Swap
Wednesday, December 11, 2019, 5:30-7:30 P.M.
River North Park Apartments, the Wireless Library, 320 W. Illinois Street, Chicago, IL

Join CFW for an evening of (optional, but incredibly entertaining) activities as a fun and easy way to get to know each other better and leave with a few new gift ideas, just in time for the holidays!  Participation in the festivities is encouraged, but spectators are welcome to enjoy, as there will be lots of delicious snacks and wine for all! 😊 Ticket includes: snacks, wine and networking with old friends and new! 

  • Favorite Things Gift Exchange: If you would like to participate in the gift exchange, please bring a wrapped gift of approximately $20 value, that is one of your “favorite things.” Tip: Groupon and Amazon are overflowing with ideas and convenience.
  • Book Swap: If you would like to participate in the book swap, please bring (preferably used) book of any genre that you really love, and that you are willing to part with. Should you have any additional books you’d like to donate, please feel free to bring them.

For tickets, click here.

FREE: Chicago SRI/ESG Breakfast Meeting: Corporate Engagement
Thursday December 12, 2019, 7:45-9:30 A.M.
Loyola University’s Lewis Towers, 111 E. Pearson Street, Chicago, IL

Our topic of discussion will be corporate engagement, whereby asset owners and investment managers communicate with portfolio companies in order to influence corporate policies and practices with guest speakers Michael Frerichs the Illinois State Treasurer and Liz Michaels of ESG/SRI, Aperio,

Treasurer Frerichs will discuss his office’s Raising the Bar initiative on sustainable investing, and Liz will talk about how several of Aperio’s advisor clients have incorporated corporate engagement into their practices.

Some of the questions we will cover include:

  • What are the primary goals for pursuing corporate engagement? How is progress measured?
  • What are the different ways corporate engagement can be pursued?
  • For advisors and consultants, how is corporate engagement integrated as part of the value proposition for clients?

Please RSVP to Dan Nielsen at dnielsen@greatlakesadvisors.com by Monday December 9, 2019.

ACG Chicago: The Classic Market Trends Breakfast
Thursday, January 30, 2020, 7:45-10:30 A.M.
The Palmer House Hilton – Empire Room, 17 E Monroe St, Chicago, IL

A forecast into the Middle Market for 2020.

Tariff uncertainties. A tight labor market. Contractions in manufacturing. Will these business challenges persist into 2020? What new trends are likely to emerge? For answers, nearly 300 middle market M&A dealmaking professionals will turn out at the Association for Corporate Growth Chicago’s annual Market Trends Breakfast. Jeff Korzenik of Fifth Third Bank will delve into a number of market factors that could impact business growth in the coming year.

Other speakers include, Kelly Cornelis of LaSalle Capital, Chris O’Brien of Wynnchurch and Steven Robinson of Antares Capital.

For more information, click here.

FinTank’s Blockchain Meetup with Congressman Bill Foster
Thursday, January 23, 2020, 6:00-8:00 P.M.
IIT, 565 W. Adams, Chicago, IL

Bill Foster, Democratic Congressman from the 11th District of Illinois, will be speaking at FinTank’s monthly Blockchain/Crypto group.  Bill Co-Chairs the Congressional Blockchain Caucus on Capitol Hill.

The Congressman will speak on his concerns regarding Facebook’s Libra project and the need for the Federal Reserve to create a digital currency for the U.S. dollar.  On September 30th of this year, Bill and Republican Congressman French Hill from Arkansas sent the following letter to Federal Reserve Chairman Jerome Powell: 

“We are concerned that the primacy of the U.S. Dollar could be in long-term jeopardy from wide adoption of digital fiat currencies…it may become increasingly imperative that the Federal Reserve take up the project of developing a U.S. dollar digital currency.”

At the age of 19, Bill founded Electronic Theatre Controls which has over 650 employees and manufactures over half of the theater lighting equipment in the U.S.  Installations include Broadway shows, Rolling Stones tours, opera houses, and Super Bowl half-time shows.  In 1983, Bill graduated with a Ph.D. in physics from Harvard University.  Subsequently, Bill worked at Fermilab for 22 years.  Bill was first elected to Congress in 2008.  

For more information, click here.

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