Tag Archives: Exchange

Is a Digital Coin that Functions as a Medium of Exchange a “Security”?

One of the cutting-edge legal issues – one that is raised in a number of pending securities class action lawsuits – is the question of whether cryptocurrencies are “securities” and therefore required to be registered with the SEC before they … Continue reading

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Foreign Investors Entering Into Like-Kind Exchange Transactions- What About the 15% FIRPTA Withholding Tax (Part 2)?

By Michael W. Brooks, Esq. As discussed in Part 1, we know Foreign Investors are permitted to enter IRC Section 1031 (like-kind exchange) transactions provided certain conditions are met.  The Foreign Investor can avoid (really delay) paying tax on the … Continue reading

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Case Comment: Rock Advertising Limited v MWB Business Exchange Centres Limited [2018] UKSC 24

Mitchell Abbott, trainee in the dispute resolution team at CMS, offers comment on the decision of the Supreme Court in the matter of Rock Advertising Limited v MWB Business Exchange Centres Limited [2018] UKSC 24: “Modern litigation rarely raises truly fundamental … Continue reading

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Can a Foreign Investor Enter Into a Like-Kind Exchange Transaction (a 1031 Transaction) and Avoid Paying Income Tax on the Sale (Part 1)

 By Michael W. Brooks, Esq. As with US persons, non-US persons and parties (“Foreign Investors”) are allowed to enter into Internal Revenue Code Section 1031 (like-kind exchange) transactions. Foreign Investor exchanges allow owners of investment and business real estate to … Continue reading

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Ninth Circuit Rejects Decisions of Five Other Circuits: Exchange Act Section 14(e) Does Not Require Scienter

Scienter has been a critical element of a claim based on Exchange Act Section 10(b) in an SEC enforcement action since the Supreme Court’s decision in Aaron v. SEC, 446 U.S. 680 (1980). It has also been a key element … Continue reading

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