Not rendering correctly? View this email as a web page here.
Special Update Banner

In this issue: Public Policy Update | 2020 Summer Webinar Topics |
Weekly News Roundup

Public Policy & Economic Updates

  • The U.S. Department of Labor issued an informational letter concerning private equity investments in defined contribution plans. The letter confirmed that the Employee Retirement Income Security Act does not prohibit private equity investments, and provided additional guidance on the matter.
  • May unemployment claims slowed to the lowest levels since the onset of the coronavirus pandemic, totaling 1.9 million. The May unemployment rate declined to 13.3% from 14.7% in April with the addition of 2.5 million jobs. This is the most on record in a single month since 1948.

ADISA Summer 2020 Webinar Series Banner

After a successful 2020 Spring Webinar Series, ADISA is gearing up to host a similar series this summer. If you have an educational subject matter that would be appropriate for the webinar series, please contact ADISA Executive Director John Harrison.

The Weekly News Roundup

Number-01 The DI Wire - IRS Provides Additional Pandemic-Related Relief for Opportunity Zones

Article excerpt: The Alternative & Direct Investment Securities Association (ADISA), a trade group representing the alternative investment and securities industry, notified its members of the changes and clarifications as outlined below by Ryan McCormick, senior vice president and counsel for The Real Estate Roundtable.

Number-02 ThinkAdvisor - Fed Indicates No Change in Interest Rates Through 2022

Article excerpt: In a statement accompanying its latest economic projections, the Fed said it expected to maintain that range “until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.”



The Wall Street Journal - U.S. Unemployment Rate Fell to 13.3% in May

Article excerpt: The U.S. labor market snapped back to life in May, restoring a chunk of the jobs it lost in the first two months of the coronavirus pandemic, although big obstacles lie ahead.

Number-04 - IRS Extends Key Opportunity Zone Deadline

Article excerpt: Opportunity Zone rules provide 180 days for investors to roll over capital gains into an Opportunity Zone fund (QOF). Investors whose 180-day period would have ended between April 1, 2020, and December 30, 2020, can now make their investment until December 31, 2020 after the IRS released a notice last week.