NSAC Happenings and Latest News - Page 3
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Cooperatives: An Ownership Model for Digital Networks
Could a legal structure common to credit unions and rural utilities revitalize blockchain and help realize the web3 vision of a new digital world?Turbulence in the crypto and blockchain markets over the past year has shed light on a question that has received increasing attention: how web3 companies share ownership in digital networks, including through tokens. As the industry wrestles with this question, builders and investors should consider ...
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NSAC Highlight from 2022
NSAC, the only professional organization dedicated to providing education, resources and connections to professionals involved in the financial management and planning of cooperatives, takes a look back at the highlights from 2022. We would like to thank the members and friends of NSAC for a successful year!
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Patronage or Non-patronage? The Internal Revenue Service provides guidance on the determination of patronage for two rural telephone cooperatives.
During the first half of 2022, the Internal Revenue Service (the “Service”) released two private letter rulings (“PLRs” or a “PLR”) that addressed unique situations impacting rural telephone cooperatives. In the first PLR, the Service concluded that a portion of a gain realized by a consolidated corporate subsidiary of the cooperative could be excluded from consolidated gross income if properly allocated to ...
Read MoreTreasury Moves Forward with Database on Corporate Ownership
WASHINGTON (AP) — Tens of millions of small U.S. companies will be required to provide the government with details on their owners and others who benefit from them under a regulation finalized Thursday that’s intended to peel back the layers of ownership that can hide unlawfully obtained assets. The Treasury Department said it was moving to create a database that will contain personal information on the owners of at least 32 million ...
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ESG and Cybersecurity Compliance Are Every Employee’s Concern
The following opinion piece was written by Wharton legal studies and business ethics lecturer Leeza Garber, Esq., and Allison Jegla, global director of impact at 100 Women in Finance. In late spring 2022, the Securities and Exchange Commission (SEC) charged an elite investment adviser for “misstatements and omissions” about Environmental, Social, and Governance (ESG) considerations related to its managed mutual funds. This same ...
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