NYPPEX: Swiss FTA Securities Transfer Tax Trends for Secondaries in Private Funds
New York, December 10, 2024 – Switzerland’s Federal Tax Administration (“SFTA”) is under increasing pressure to reform or abolish its Securities Transfer Tax (“STT”), also known as the “stamp duty” – which applies to secondary interest transfers in private capital funds and hedge funds. In general, Switzerland’s Securities Transfer Tax rate on secondary private transactions […]
FINRA NAC Reverses Prior Decisions on NYPPEX
New York, December 11, 2024 – FINRA’s National Adjudicatory Council (“NAC”) reversed various findings at a prior FINRA proceeding vs. NYPPEX, LLC (“NYPPEX”), Laurence Allen, and/or Michael Schunk. The National Adjudicatory Council is a FINRA committee that reviews initial decisions rendered in FINRA membership proceedings. FINRA is the securities regulator in the United States for […]
New York Attorney General Criticized by Retirees Over Frozen Accounts
New York, December 9, 2024 – Retired investors are outraged at New York Attorney General Letisha James for freezing their accounts for over 6 years since December 2018 in ACP X, LP, a private equity partnership sponsored by NYPPEX Holdings, LLC. Some of the partnership’s retired investors argue that the partnership did nothing wrong […]
SEC Dismisses Proceedings vs. Auditor to NYPPEX
New York, December 16, 2024 – The U.S. Securities and Exchange Commission dismissed proceedings against Halpern & Associates, the independent auditor to NYPPEX Holdings, LLC and various affiliates including ACP X, LP, a private equity fund subsidiary. The SEC is the ultimate securities regulator in the United States. The SEC’s dismissal confirms a belief that […]
