Breaking: NY Court Overturns Regulation 187
The New York Supreme Court overturned Regulation 187 today.
The New York Supreme Court sided with plaintiffs today in overturning the toughest state annuity sales standard in the nation.
The state Supreme Court Appellate Division reversed a 2019 ruling by Justice Henry Zwack that the New York State Department of Financial Services was within its authority when it issued Regulation 187.
Regulation 187, often described as similar to a fiduciary standard, took effect in 2019 as state officials bypassed a National Association of Insurance Commissioners effort to create a model standard for annuity sales. The New York regulation applies to life insurance sales as well and sets a high bar for a sale to be in the consumers best interest.
Rochester, NY U.S. Attorney James P. Kennedy, Jr. announced today that John Piccarreto, Jr. of Rochester, NY, pleaded guilty before Chief U.S. District Judge Frank P. Geraci, Jr. to conspiracy to commit mail fraud and filing a false tax return. The charges carry a maximum penalty of 20 years in prison and a $250,000 fine.
Assistant U.S. Attorney John J. Field, who is handling the case, stated that between 2017 and June 2018, the defendant conspired with co-defendants Perry Santillo, Christopher Parris and others, to obtain money through an investment fraud commonly known as a Ponzi scheme. The scheme, which was conducted under the umbrella of a business entity called Lucian Development, involved the sale of fraudulent promissory notes that were issued under the names various entities that Santillo and Parris controlled, including Lucian Development, First Nationale Solutions, United RL Capital Services, and Percipience Global Corporation (the issuers), among others. These issuer
Place/Date: New York, NY - April 28th, 2021 at 9:06 pm UTC · 3 min read
Gemini, which currently stands as one of the largest and most reputable exchanges in the United States, has announced support for a new set of DeFi tokens including Injective (INJ), Polygon (Matic), and SushiSwap (Sushi). Gemini is the first exchange to enable USD fiat rails for INJ. All users will now be able to trade INJ with USD, GBP, EUR, CAD, AUD, HKD, with trading support for SGD to come. With these new listening tokens, Gemini has become the first regulated platform in the United Stated to offer trading and custody support for INJ.
Members of the Sisterhood of Saint Mary, a group of Anglican nuns, are among several religious organizations asking the United States Supreme Court to hear their challenge against a New York state mandate requiring employers to cover abortion in their employees healthcare plans. | Becket
A group of nuns and other religious organizations in New York are asking the U.S. Supreme Court to hear their case against a 2017 state mandate requiring employers to cover abortions in their employee healthcare plans.Â
Led by the Roman Catholic Diocese of Albany, a coalition of religious organizations filed an appeal Friday asking the nationâs high court to hear the case of
ErisX Deploys Sovos Tax Information Reporting Solution for Crypto Offerings
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Popular spot and futures platform selects tax and compliance software provider for 1099 and other third-party crypto reporting.
As the largest private filer of 1099 forms, Sovos will ensure ErisX customers meet all tax reporting regulations during the 2021 tax season and beyond. BOSTON (PRWEB) April 29, 2021 Global tax software leader Sovos today announced the launch of its integration with ErisX, a leading platform for investors for trading crypto spot and futures, to assist ErisX members with their 1099 crypto tax information reporting needs.
ErisX is an exchange and clearinghouse that includes a Commodity Futures Trading Commission-regulated futures market for Bitcoin and Ether, as well as a 24/7 spot market for Bitcoin, Bitcoin Cash, Ether and Litecoin. ErisX’s work with Sovos comes in the midst of the 2021 tax seas