• REGULATORY DEVELOPMENTS
  • FSOC Proposes Updated Analytic Framework and Guidance on Nonbank Determinations
• TAX DEVELOPMENTS
  • IRS Revenue Ruling – No Step-up Basis if a Trust’s Assets Are Not Includible in Gross Estate
• OTHER DEVELOPMENTS
  • US DOL Reaches Settlement with Prudential Regarding Denied Claims
  • First Republic Bank Put into Receivership – JPMorgan Chase to Assume Substantially All Assets