Author Archives: Sarah Jacobs

Book Update: The Circular 230 Deskbook: Related Penalties, Reportable Transactions, Working Forms

The Circular 230 Deskbook serves as an essential resource for any tax professional practicing before the IRS. This practice guide is designed to help practitioners comply with complicated 230 amendments with ease, avoiding costly penalties and sanctions.

Highlights of the recent update include:

Chapter 1, Deference: When the Court Must Yield to the Government’s Interpretation, which examines the 3M decision, which resulted in the Eighth Circuit rejecting the IRS’s argument that reallocation of income under section 482 was within the scope of delegated discretion

Chapter 3, Reporting and List Maintenance Requirements, covers the district court holding that section 6011 delegates discretion to the treasury under the phrase “as determined under regulations”

Chapter 4, Circular 230, explains how the decision in Loving has resulted in the IRS withdrawing proposed regulations which would have required specific minimum qualification requirements for preparers

Updated Appendices L and M and an updated Table of Authorities

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Book Update: Audit Committee Deskbook

Audit Committee Deskbook serves as a comprehensive guide to audit committees, ranging from the basic principles to more complex legal issues. Beginning with a committee’s essential duties and pivoting to an in-depth examination of day-to-day issues, the deskbook concludes with an overview of U.S. legal regimes impacting companies which conduct business in the global marketplace.

Highlights of the latest supplement include:

Chapter 20, Recent Changes to Delaware, Texas, and Nevada Law, a new chapter covering reforms in Delaware, Texas, and Nevada which reshape the states’ corporate statutes

Chapter 4, Audit Committee Qualifications, Recruiting, and Diversity, presents the latest audit committee demographic composition data, as well as updates on the Nasdaq diversity disclosure rules

Chapter 13, Conflicts of Interest and Special Litigation Committees, includes a new section discussing amendments to DGCL § 144, adopted after the Delaware Court of Chancery’s rulings in Tornetta v. Musk and cases applying the framework of Kahn v. M&F Worldwide (Section 13:2.3)

Chapter 16, Strategic Considerations: ERM, Capital Allocation, and ESG, Including Climate-Related Disclosures, provides coverage on the latest legal and regulatory requirements which may impact a company’s “ESG” compliance and risk profile under the purview of the audit committee

Chapter 18, Overview of Key U.S. Legal Regimes Impacting Companies Conducting Global Business, explains the shift in FCPA enforcement priorities following President Trump’s February executive order, the subsequent enforcement pause, and the resulting updated DOJ guidelines (Section 18:2.5)

Updates to the Audit Committee Charter, Insider Trading Policy, and Corporate Governance Guidelines

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What’s New in PLI PLUS

We add content to PLI PLUS every month to ensure our subscribers have access to the most up-to-date and relevant secondary source legal documents. Renowned legal experts regularly update our acclaimed Treatises, Skills Books, Practice Guides, Course Handbooks, Case Summaries, Transcripts, and Forms to reflect recent changes and developments in the law.

Click here to see what we added in February 2026!

Book Update: Derivatives Deskbook: Close-Out Netting, Risk Mitigation, Litigation (Second Edition)

Derivatives Deskbook: Close-Out Netting, Risk Mitigation, Litigation (Second Edition) serves as the definitive guide to navigating OTC derivative contracts. Offering actionable insights and practice-tested legal forms, this comprehensive practice guide provides readers with clarity on key terminology, a deeper understanding of the roles of major global regulators, and best practices for legal risk management in derivatives. It also provides an extensive analysis of close-out netting combined with rare litigation cases from foreign jurisdictions.

Highlights of this release include:

An expanded section titled “Credit Default Swaps” explaining how “naked” CDSs have generated intense controversy and are generally no longer allowed by global regulators (Section 1:2.5)

A revised section expanding upon cross-default in relation to default under specified transactions (Section 2:2.6)

A new section examining the 2022 Amendments to the UCC, including the newly introduced Article 12 governing the establishment and maintenance of a security interest in digital assets (Section 3:9)

A new section covering collateral transfers made through distributed ledger technology (DLT) (Section 3:10)

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Free Form of the Month

PLI PLUS offers unlimited electronic access to more than 4,500 downloadable, searchable, and editable legal forms ready for use in your practice. In an effort to highlight this unique content type, we’ve selected one form per month and made it available for anyone to download for free – no subscription required.

February’s free form:

Information Security Agreement Template Provisions

More information about Legal Forms & Checklists:

Forms & Checklists Flyer – This flyer provides an overview of the forms & checklists on PLI PLUS and highlights a handful of popular examples.

Closing the Deal: A Practical Guide to Commercial Real Estate Transactions

Closing the Deal: A Practical Guide to Commercial Real Estate Transactions serves as both a textbook for students and a practice guide for attorneys by providing a step-by-step roadmap through the lifecycle of commercial real estate transactions. Balancing doctrinal foundations with applied skills training, the book enables students to think like practicing attorneys and provides practicing attorneys with the necessary tools to navigate complex deals.

This publication includes chapters on:

The Role of the Attorney in Commercial Real Estate Transactions, with discussion of the wide scope of the attorney’s role in the transaction process, including how to navigate situations where legal advice contrasts with the client’s business goals (Section 1:12)

The Role of Brokers, Title Officers, Escrow Agents, and Other Third Parties, which addresses the intersections of other third parties over the course of commercial real estate transactions, including surveyors, engineers, and environmental consultants (Section 2:4 and 2:5)

Leasing Transactions with a chronology of the lease transaction, types, common issues in commercial leasing, and lease administration, including coverage of COVID’s effect on the force majeure clause (Section 9:2, 9:7, 9:12, and 9:12.1[A])

Emerging Trends and Future Directions, covers recent innovations and trends in property technology, such as virtual due diligence, e-signatures, and cannabis uses (Section 12:3 and 12:8)

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What’s New in PLI PLUS

Click here to see what we added in January 2026!

New CPE Enhanced Practice Guide: Transfer Pricing Answer Book

Transfer Pricing Answer Book (Eleventh Edition) cuts through the complexity, delivering straightforward answers on every aspect of transfer pricing—including the latest OECD digital commerce reforms and IRS approaches to controlled transactions.

This updated practice guide now has a new enhanced digital version which allows accounting professionals to access a convenient self-study module and earn CPE credit upon completion of the exam.

This feature is available on PLUS at no additional cost as a benefit for PLUS subscribers. The digital version of the answer book can also be purchased here to access the CPE exam.

Book Update: Investment Adviser Regulation: A Step-by-Step Guide to Compliance and the Law (Third Edition)

Investment Adviser Regulation: A Step-by-Step Guide to Compliance and the Law (Third Edition) leads practitioners through statutory, SEC, and state standards impacting investment advisers, while giving advice on the practical aspects of building a practice. This regularly updated treatise is an essential resource for investment advisers, securities attorneys, compliance personnel, and federal and state regulators, and a useful reference for today’s investors.

Highlights of the recent update include:

Chapter 61, Valuation Issues Under the Investment Advisers Act, provides new coverage of discussions such as the SEC’s enforcement actions regarding investment adviser valuation cases. Updates on use of a pricing or valuation committee are also included (Section 61:4 and 61:7)

Chapter 63, Regulation of Digital Advisers, covers Investment Advisers Act Rule 203A-2(e), which includes an exemption allowing advisers which provide advisory services via the internet, or any other mobile application or platform, to register with the SEC (“Internet Adviser Exemption”) eve if they do not have enough assets qualify for federal registration (Section 63:4.1)

Chapter 64, Blockchain and Digital Assets, is broadly updated, featuring coverage of recent regulatory developments covering digital asset securities and commodities. It also includes the recently signed Guiding and Establishing National Innovation for U.S. Stablecoins Act (“GENIUS” Act). (Sections 64:6.1[B][12], 64:6.1[B][13], 64:6.2[A][5], 64:6.1[B][7] and 64:7.3[A])

Chapter 66, Big Data and Artificial Intelligence: Legal and Compliance Considerations for Investment Managers, examines the developing regulatory views on AI, such as the current administration’s AI action plan, the SEC’s guidance, the EU AI Act, state AI laws, and voluntary guidance from the National Institute of Standards and Technology and the International Organization for Standardization to help organizations manage the risks associated with AI Usage. This chapter also provides a new discussion reviewing the ways in which investment managers can leverage the advantages of AI use while minimizing the risks (Section 66:5.5 and 66:6.8)

Updates to the Table of Authorities and Index

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Book Update: Fintech, Regtech, and the Financial Services Industry

Fintech, Regtech, and the Financial Services Industry analyzes the developments taking place within the financial services industry and spotlights the opportunities they bring to the marketplace, while also highlighting the emerging regulatory framework. This newly supplemented treatise follows the development of fintech, regtech, and suptech, discussing revolutionary innovations within the financial services industry as a whole.

Highlights include:

Chapter 2, Fintech Jurisdictional Issues, details the joint statements by the SEC and CFTC about streamlining oversight as markets converge and launching initiatives for cross-agency crypto trading; it also covers the “GENIUS” Act enacted into law on July 18, 2025

Chapter 3A, Artificial Intelligence in the Securities Industry,highlights key U.S. regulatory developments on AI, such as the FINRA Regulatory Notice 24-09, the March 2025 roundtable on AI, the 2025 FINRA Annual Regulatory Oversight Report, and the December 2024 U.S. Department of Treasury report covering AI risks and opportunities

Chapter 5, Regulation of Digital Advisers, analyzes the SEC’s Internet Adviser Exemption under Investment Advisers Act Rule 203A-2(e), which allows advisers offering services through digital platforms to register federally, even lacking sufficient assets (Section 5:4.1)

Chapter 8, Financial Technology Platforms, examines the Latham & Watkins No-Action Letter from March 12, 2025, which confirms issuers under Rule 506(c) may use investor self-certification for accredited status when investing equal to or above a minimum amount (Section 8:2.1[B])

Chapter 8B, Blockchain and Digital Assets, provides extensive updates to the chapter, including coverage of regulatory developments on digital asset securities and the GENIUS Act (Section 8B:6.1 and 8B:7.3[A])

Chapter 12A, Privacy Laws Applicable to Fintech Companies, outlines new discussion of the Personal Financial Data Rights final rule, also known as the “Open Banking Rule”, issued by the Consumer Financial Protection Bureau on October 22, 2024, as well as updated coverage of state comprehensive privacy laws (Section 12A:7 and 12A:8.2)

Chapter 14, Regulation SCI and Trends in IT and Cybersecurity Regulation, Compliance, and Enforcement, discusses the SEC’s May 2024 Regulations S-P Amendments and provides an update on the 2024 Intercontinental Exchange settlement for Regulation SCI violations (Section 14:3.6[A][1] and 14:5.2[I])

Chapter 15, Big Data and Artificial Intelligence: Legal and Compliance Considerations for Investment Managers, covers evolving AI regulations, including the current administration’s AI action plan, the EU AI Act, state laws, and voluntary guidance from NIST and ISO (Section 15:5.5[A], 15:5.5[D], 15:5.5[H] and 15:5.5[I])

Chapter 21, Financial Services Firms’ Use of Data Analytics and Technology in Compliance, provides an updated analysis of regulators’ expectations for compliance technology with SEC and FINRA enforcement actions and a review of the developing jurisdictional regulatory landscape for AI in financial services. This chapter also provides guidance on AI compliance opportunities and risks, expanding the previous best practices discussion to include recordkeeping challenges, third-party vendors, and outlines a phased approach to deploying AI tools (Section 21:2.2, 21:2.3, 21:3.6, 21:3.7, 21:3.8)

Chapter 22, Regulators’ Use of Data Analytics, includes a new discussion outlining the trajectory of the SEC’s position on deploying AI tools in its regulatory mission (Section 22:3.6)

The Table of Authorities and Index have been updated

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