Compliance Newsflash – July 17, 2019

July 17, 2019

SEC and NASAA Explain Application of Securities Laws to Opportunity Zone Investments

On July 15, 2019, the Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) issued a summary that explains the application of the federal and state securities laws to opportunity zone investments. The “opportunity zone” program was established by the Tax Cuts and Jobs Act in December 2017 to provide tax incentives for long-term investing in designated economically distressed communities.

For more information, click here.

Texting your clients? Read this first

On July 15, 2019, InvestmentNews reported that if you haven’t added texting as a component of your firm’s communications mix, perhaps it’s because you believe texting is only applicable for millennial clients and prospects. While it’s true that “sending and receiving text messages is the most prevalent form of communication for American adults under 50,” statistics indicate even those over 55 average 500 text messages a month. In other words, virtually everyone texts these days, and they want to be able to do so with you.

For more information, click here.