Insights - Blog Articles

Recent guidance from the Office of Compliance Inspections and Examinations (“OCIE”) of the Securities and Exchange Commission (“SEC”) addressed compliance issues relating to Rule 206(4)-1 (the “Advertising Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”).[1]  The Advertising Rule prohibits an investment adviser, directly or indirectly, from publishing, circulating, or...

The New York State Department of Financial Services (DFS) recently enacted regulation aimed at protecting consumers and businesses from cyber-attacks. Effective March 1, 2017, 23 NYCRR 500 mirrors the NIST Cyber-Security Framework released under the direction of the Obama administration in 2014. Companies subject to this new regulation include non-governmental corporations, agencies, or partnerships that...

On August 25, 2016, the Securities and Exchange Commission (the “SEC”) adopted new rules to augment certain disclosures under Form ADV, and to amend the books and records rule.[1]  Investment advisers filing an initial Form ADV or an amendment to an existing Form ADV on or after October 1, 2017 will need to comply with...

Click on the image to read the newsletter Woods Oviatt's latest newsletter includes articles on: Valuation DiscountsWhat to do when you are named Power of AttorneyCombating the Zombie Property EpidemicWhat's in your water? -Safe Drinking Water Act informationYou can also learn more about our new attorneys and what we're doing...

I recently attended the 32nd Annual National Institute Conference on Criminal Tax Fraud and a recurring theme was the emphasis that the Internal Revenue Service Criminal Investigation ("CI") is placing upon prosecuting those who fail to pay over taxes withheld from employees. The Internal Revenue Code in §3102, §3402 and §3403 imposes a dut...

Extended With Reforms By: Greta K. Kolcon, Esq. Despite a significant amount of press and earlier uncertainty regarding its future, New York State’s Brownfield Cleanup Program (“BCP”) has been extended. The program was originally established approximately ten years ago with the goal of incentivizing private sector cleanup of industrial sites...

By: Greta K. Kolcon, Esq.New York legislators are considering an amendment to the existing environmental conservation law which would prohibit the distribution and sale of personal cosmetic products containing microbeads within New York State. A bill banning microbeads was introduced in 2014 and previously passed the Assembly in 2014 by a...

By Christopher R. Rodi, Esq. International business transactions are no longer limited to large, multi-national corporations. Small and mid-sized Rochester area businesses are increasingly looking to international markets both to extend the marketplace for their products and services and to expand their supply chain. Although technology has allowed for nearly...

By: Robert W. Kessler, Esq. In 2006, a temporary law was passed that permitted an individual over 70½ to make up to $100,000 of charitable gifts directly from his or her IRA. This law was extended through 2014, and there are bills currently pending in Congress to extend the charitable rollover for 2015 and beyond. M...

By: Thomas M. DiPiazza, Jr., Esq. One of the main challenges for a business owner is how to attract and retain key employees. On one end of the spectrum, are plans that provide the key employee with an actual ownership interest in the business. Second on the spectrum are option...