Effective July 1, the New York State legislature has modified a key provision of the Not-for-Profit Corporation Law (NPCL) regarding the ability of New York non-profits to establish a sole member structure.  This change may require immediate adjustment to legal structures by affected non-profits.

The IRS has released new guidance that simplifies compliance with decades-old rules relating to private school’s publication of policies related to racial non-discrimination.

New York has recently amended its voting leave law to make it easier for all employees to take time off to vote. Effective immediately, all employers in New York must provide employees who are registered to vote with “up to three hours” of paid time off at the beginning or end of a work shift to vote.

Most of my blog posts focus on current legal developments, however, for this one I thought I would mix things up and share what I learned while guest lecturing on exempt organizations for a recent law school “Law of Higher Education” class.

On April 16, 2019, the Securities and Exchange Commission (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert following OCIE’s examinations of investment advisers and broker-dealers. The Risk Alert identified some of the key compliance issues in the recent examinations related to Regulation S-P, which is the SEC’s principle rule covering privacy notices and policies and practices required to safeguard customer records and information.