Christopher Steed

California Assembly Bill 1415 introduces new reporting and notice requirements that directly affect friendly-PC models, MSOs, and certain investment structures in the healthcare space. Effective January 1, 2026, AB 1415 requires newly defined “noticing entities,” including private equity groups, hedge funds, MSOs, and entities formed to transact with healthcare providers, to submit written notice to the Office of Health Care Affordability at least 90 days before entering into certain transactions that constitute a material change. Shur Erdenekhuu and Mena Arsalai provide an overview here: https://lnkd.in/grgKvJCG

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The CFTC has issued a new no-action letter providing interim relief that allows many SEC-registered private fund managers to forgo CFTC registration as commodity pool operators and commodity trading advisors, or to withdraw existing registrations, subject to specified conditions. The relief applies to managers of private funds offered exclusively to qualified eligible persons and is intended to address concerns regarding duplicative regulation while the CFTC considers formal rulemaking. Learn more about eligibility, conditions for relying on the relief, and key considerations for affected managers: https://bit.ly/4sqFDxf Analysis by Robert Sutton, Nathan Schuur, Caroline Spillane, Sasha Burger and Elanit Snow. #Proskauer #SEC #PrivateFunds

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Managing Complexity: The Strategic Role of Custody In its latest industry update, the Investment Adviser Association reported that SEC-registered investment advisers now oversee more than $128 trillion in assets, with continued growth in alternative investments and retirement account structures increasing operational oversight demands across the sector. As asset strategies diversify and regulatory expectations remain elevated, custody is increasingly viewed through a governance lens. Advisors managing private credit, real estate, structured products, and alternative holdings within qualified accounts face heightened requirements around valuation accuracy, income tracking, corporate action processing, and transparent reporting. In this environment, custody is not simply about holding assets — it is about maintaining disciplined oversight across complex asset classes. RIAs require servicing models that support accurate valuations, structured reconciliation, income collection, and clear reporting, particularly when assets sit within retirement accounts or benefit plan structures that demand additional scrutiny. Austin Capital Trust provides custody services built to support these realities. With comprehensive asset servicing, corporate action processing, valuation support, reporting and reconciliation capabilities — including custody solutions for employee benefit accounts — ACTC enables advisory firms to manage complexity while maintaining operational clarity and fiduciary confidence. As advisory firms continue to expand into sophisticated asset strategies, custody will increasingly define how effectively they manage risk, uphold transparency, and reinforce client trust in a more complex investment landscape. #Custody #RIA #RegisteredInvestmentAdvisors #AssetServicing #WealthManagement #FinancialServices #OperationalExcellence #TrustServices

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CFTC Chair Mike Selig is warning that piling on excessive regulations could push blockchain and crypto developers straight out of the US. He cautions that forcing builders into deregulated jurisdictions overseas would reduce American oversight and increase the risk of market manipulation, while weakening consumer protections. Selig is pushing for clear and practical rules instead. He also believes constant dialogue with innovators will keep talent and projects thriving right here at home. At the same time, he is calling out how blockchain is exposing the outdated infrastructure of traditional finance. Decentralized systems, he argues, are the key to restoring America’s edge in creativity and possibility. Selig sees crypto, prediction markets, and artificial intelligence as three critical verticals where the United States must lead. He stresses that blockchains align deeply with American values of freedom and liberty, making it a huge risk to lose that advantage. With strong support from President Trump, he says the days of regulation by enforcement are over. Check out the full discussion on Blockzeit⏬ https://lnkd.in/gG65Pjqv

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The SEC published a long-anticipated proposal to create a new regulatory framework for certain investment contracts involving crypto assets. This alert highlights the key features of the proposed Regulation Crypto Assets: https://okt.to/NlewZE

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