Morning Memo
Wealth Management Morning Memo

JUNE 23, 2020

Supreme Court Rules SEC Disgorgement Can Stay (With Caveats)

The Court ruled 8-1 in Liu vs. the Securities and Exchange Commission that the practice was allowable provided that the fees did not exceed the "wrongdoer's net profits," according to a majority opinion written by Justice Sonia Sotomayor.

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Retirement

IRS Issues Guidance on COVID-19 Distributions from Retirement Accounts

Notice 2020-50 provides enhancements, confirmations and clarifications.

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Estate Planning

New Third-Party Reproduction Law Impacts Inheritance Rights

The Child-Parent Security Act institutes a simple path to establishing parental rights in New York.

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The Daily Brief

Practice Management

Fidelity Survey: Prospecting Takes a Hit During the Pandemic

As financial advisors adjust to remote working and navigating clients through the tough environment, some have put prospecting on the back burner.

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Industry

Palaveev Launches Scholarship Aimed at Accelerating Minorities in Leadership Positions

The Ensemble Practice will award two scholarships a year to individuals going into its G2 Leadership Institute, a two-year training program for future leaders of advisory firms.

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