Businesses
Here's a look at documents from U.S. and international businesses
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Noah Yavitz Discusses Delegating Enforceability of Corporate Forum Selection Provisions in Harvard Law School Forum on Corporate Governance
BOSTON, Massachusetts, March 3 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Noah Yavitz Discusses Delegating Enforceability of Corporate Forum Selection Provisions in Harvard Law School Forum on Corporate Governance
A new article in the Harvard Law School Forum on Corporate Governance by litigation & enforcement partner Noah Yavitz proposes a novel solution to the growing problem of non-Delaware courts reaching divergent conclusions on the enforceability of forum selection provisions in corporate charters and bylaws. Drawing on the well-established
... Show Full Article
BOSTON, Massachusetts, March 3 [Category: BizLaw/Legal] -- Ropes and Gray, a law firm, issued the following news:
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Noah Yavitz Discusses Delegating Enforceability of Corporate Forum Selection Provisions in Harvard Law School Forum on Corporate Governance
A new article in the Harvard Law School Forum on Corporate Governance by litigation & enforcement partner Noah Yavitz proposes a novel solution to the growing problem of non-Delaware courts reaching divergent conclusions on the enforceability of forum selection provisions in corporate charters and bylaws. Drawing on the well-establishedframework for delegation clauses in arbitration agreements, Noah argues that Delaware corporations should adopt bylaw provisions expressly delegating threshold questions about the scope, validity, and enforceability of their forum selection clauses to the Delaware Court of Chancery.
The article examines recent decisions that underscore the risks of inconsistent interpretation of Delaware corporate law across jurisdictions. Noah contends that delegation provisions would promote uniformity, leverage Delaware's institutional expertise, and conserve judicial resources.
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Original text here: https://www.ropesgray.com/en/news-and-events/news/2026/03/noah-yavitz-discusses-delegating-enforceability-of-corporate-forum-selection-provisions
McDonald Hopkins Issues Commentary: Illinois Proposes Expanded Healthcare Transaction Reporting - Implications for Corporate Practice of Medicine and Private Equity Structures
CLEVELAND, Ohio, March 3 -- McDonald Hopkins, a law firm, issued the following commentary on March 2, 2026, by associate Taylor Semakula, counsel Rick Hindmand and members Emily Johnson and Elizabeth Sullivan:
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Illinois proposes expanded healthcare transaction reporting: Implications for corporate practice of medicine and private equity structures
The Illinois General Assembly is considering legislation that would significantly expand the state's healthcare transaction reporting requirements. While the proposed bills do not directly amend Illinois' Corporate Practice of Medicine (CPOM)
... Show Full Article
CLEVELAND, Ohio, March 3 -- McDonald Hopkins, a law firm, issued the following commentary on March 2, 2026, by associate Taylor Semakula, counsel Rick Hindmand and members Emily Johnson and Elizabeth Sullivan:
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Illinois proposes expanded healthcare transaction reporting: Implications for corporate practice of medicine and private equity structures
The Illinois General Assembly is considering legislation that would significantly expand the state's healthcare transaction reporting requirements. While the proposed bills do not directly amend Illinois' Corporate Practice of Medicine (CPOM)doctrine, they signal increased state scrutiny of healthcare ownership, private equity involvement, and control structures-areas closely intertwined with CPOM compliance.
If enacted, the legislation could meaningfully impact physician groups, management services organizations (MSOs), hospitals, private equity sponsors, and other healthcare investors operating in Illinois.
Current Illinois healthcare transaction reporting requirements
Under Illinois' existing health care transaction reporting framework, codified in Section 7.2a of the Illinois Antitrust Act (740 ILCS 10/7.2a), certain healthcare facility and provider organization transactions must be reported to the Illinois Attorney General. The current law, which took effect on January 1, 2024, applies to mergers, acquisitions, and contracting affiliations between two or more healthcare facilities or provider organizations not previously under common ownership.
Section 7.2a defines "provider organization" as an entity or organized group of persons representing 20 or more healthcare providers in contracting with health carriers or third-party administrators for the payment of healthcare services. This definition includes various physician practices, physician-hospital organizations, independent practice associations, provider networks and accountable care organizations, keeping in mind the 20-provider threshold, which in some circumstances can be challenging to apply.
Parties to a covered transaction must provide written notice to the Attorney General at least 30 days prior to closing. The existing framework focuses on transactions directly between healthcare facilities or provider organizations rather than upstream ownership changes or transactions merely involving such entities. Importantly, the current reporting requirements are scheduled to sunset on January 1, 2027, unless extended by the legislature.
Overview of the proposed legislation
HB 5000/SB 3463
Introduced on February 4 and 5, 2026, respectively, these companion bills would amend Illinois' healthcare transaction reporting law by broadening the scope of transactions subject to notice and review by the Illinois Attorney General.
Key proposed changes include:
* Expanding covered transactions from those occurring "between" healthcare facilities or provider organizations to those "involving" them
* Capturing transactions involving entities that own or control healthcare facilities or provider organizations
* Potentially bringing private equity sponsors and parent entities within the reporting framework
* Defining healthcare provider and healthcare services
The broadened "involving" language is particularly significant. It suggests the Attorney General could assert jurisdiction over upstream ownership transactions and restructuring activities that currently may not trigger reporting requirements.
Why this matters for CPOM compliance
The Corporate Practice of Medicine (CPOM) doctrine is a legal principle that prohibits corporations and other business entities from practicing medicine or employing physicians to provide medical services. The underlying policy rationale is to ensure that medical decisions are made by licensed physicians exercising independent professional judgment, free from commercial pressures or lay interference.
Illinois maintains a longstanding CPOM doctrine, under which non-physicians generally may not practice medicine or exercise control over physicians' clinical judgment. Importantly, it limits who may own a physician practice or other regulated healthcare entity to licensed personnel, thereby prohibiting non-licensed individuals from participating in ownership. While CPOM in Illinois is grounded in case law and professional licensing statutes rather than a single comprehensive statute, it shapes how healthcare entities must structure:
* Physician ownership arrangements
* MSO management agreements
* Fee structures
* Governance rights
* Control provisions
Although HB 5000 and SB 3463 do not amend CPOM directly, they reflect a broader policy focus on:
* Private equity influence in healthcare
* Ownership transparency
* Consolidation and affiliation activity
* The allocation of control over healthcare entities
Expanded reporting authority could give the Attorney General greater visibility into MSO-physician structures and other arrangements frequently used to comply with CPOM while allowing outside investment.
Healthcare stakeholders should note that increased transparency often precedes increased regulatory scrutiny.
Potential impact on key stakeholders
Physician groups
Independent physician practices considering affiliation, recapitalization, or MSO arrangements may face additional reporting obligations, even if the transaction does not involve a traditional facility merger.
Private equity sponsors
Private equity sponsors acquiring upstream interests in holding companies that control physician entities may fall within the expanded definition of "covered transactions." The proposed legislation explicitly defines a "private equity company" as an entity that pools capital and acquires ownership interests, directly or indirectly, in Illinois healthcare entities, as well as out-of-state healthcare entities that generate $10 million or more in annual revenue from patients residing in Illinois.
This could affect:
* Platform roll-ups
* Add-on acquisitions
* Internal restructurings
* Minority recapitalizations
MSOs and management companies
MSO arrangements, particularly those involving long-term management agreements and financial control provisions, may receive closer regulatory attention if ownership changes trigger reporting requirements.
Hospitals and health systems
Affiliation agreements and joint ventures that previously fell outside the reporting framework may now require pre-transaction notice.
Broader national context
Illinois' proposal aligns with a broader national trend of states increasing oversight of healthcare consolidation and private equity involvement in healthcare. Across multiple jurisdictions, legislatures and attorneys general have:
* Expanded transaction review statutes
* Lowered reporting thresholds
* Enhanced enforcement authority
* Examined MSO and physician control structures
Even where CPOM doctrine remains unchanged, states are leveraging transaction reporting laws as a regulatory entry point into ownership and control arrangements.
Practical considerations
Healthcare organizations and investors should begin evaluating:
1. Whether pending or planned 2026 transactions could trigger expanded reporting
2. How ownership and control structures are documented
3. Governance provisions that may attract regulatory scrutiny
4. MSO agreements and management fee arrangements
5. Transaction timelines in light of potential 30-day pre-closing notice requirements
Because the bills remain pending and it is early in the legislative session, prospects for passage remain uncertain. Stakeholders should monitor legislative developments closely. Notably, if either bill is enacted, the January 1, 2027, sunset date that currently applies to the reporting framework would be removed, extending the requirements, perhaps indefinitely. Implementing regulations or guidance from the Illinois Attorney General's Office may also follow.
What to watch next
* Committee movement and amendments in the Illinois General Assembly
* Clarification of how "involving" will be interpreted
* Whether additional CPOM-related reforms are introduced
* Enforcement posture statements from the Illinois Attorney General's Office
Expanded transaction review authority, even absent direct CPOM reform, may meaningfully shift the regulatory landscape for physician ownership and healthcare investment structures in Illinois.
The bottom line
HB 5000 and SB 3463 signal heightened scrutiny of healthcare ownership and control structures in Illinois. While the state's CPOM doctrine remains intact, the proposed expansion of healthcare transaction reporting could increase oversight of MSO arrangements, private equity investments, and physician group affiliations. Given the early stage of the legislative session, prospects for passage remain uncertain, and the bills may be subject to significant amendment.
Healthcare providers, investors, and management entities should evaluate their transaction pipelines and governance structures in anticipation of potential regulatory changes.
For questions regarding Illinois CPOM compliance, transaction structuring, MSO arrangements, or the proposed legislation, please contact attorneys Taylor Semakula, Rick Hindmand, Emily Johnson or Elizabeth Sullivan.
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Original text here: https://www.mcdonaldhopkins.com/insights/news/illinois-proposes-expanded-healthcare-transaction-reporting
[Category: BizLaw/Legal]
McDonald Hopkins Issues Commentary: IRS Provides Updated Safe Harbor 402 Notices for Eligible Rollover Distributions From Qualified Retirement Plans
CLEVELAND, Ohio, March 3 -- McDonald Hopkins, a law firm, issued the following commentary on March 2, 2026, by counsel Jason Faust:
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IRS provides updated safe harbor 402(f) notices for eligible rollover distributions from qualified retirement plans
The IRS recently issued Notice 2026-13, which provides updated safe harbor explanations that plan administrators may use to satisfy the eligible rollover distribution explanation requirement of Section 402(f) of the Internal Revenue Code (often referred to as the "Special Tax Notice" requirement).
Under Section 402(f) of the Code, at least 30
... Show Full Article
CLEVELAND, Ohio, March 3 -- McDonald Hopkins, a law firm, issued the following commentary on March 2, 2026, by counsel Jason Faust:
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IRS provides updated safe harbor 402(f) notices for eligible rollover distributions from qualified retirement plans
The IRS recently issued Notice 2026-13, which provides updated safe harbor explanations that plan administrators may use to satisfy the eligible rollover distribution explanation requirement of Section 402(f) of the Internal Revenue Code (often referred to as the "Special Tax Notice" requirement).
Under Section 402(f) of the Code, at least 30but no more than 180 days before making an "eligible rollover distribution" from an "eligible retirement plan" to a plan participant, the plan administrator must provide the recipient with an explanation of, essentially, the recipient's rollover options and the tax implications involved if the recipient elects to do, or not do, a rollover to another eligible tax-qualified plan.
In prior guidance, the IRS provided two model safe harbor explanations that plan administrators could use to satisfy the Code Section 402(f) requirement - one for payments not from a designated Roth account from a designated Roth account and one for payments. These safe harbor explanations occasionally need to be updated to reflect changes in applicable law. The last updates came in Notice 2020-62 and took into account changes under the SECURE Act. Notice 2026-13 further modifies the safe harbor explanations that were set forth in Notice 2020-62 to account for changes made by the SECURE 2.0 Act.
Plan administrators should use the updated safe harbor Special Tax Notices immediately for all eligible rollover distributions going forward.
On a practical note, the prior safe harbor Special Tax Notices outlined in Notice 2020-62 ceased to accurately reflect the applicable law as of August 6, 2020. The law requires the Special Tax Notices to reflect applicable law when given to a recipient accurately, so plan administrators making eligible rollover distributions on and after August 6, 2020, were already required to update the Special Tax Notices to account for changes in applicable law. Accordingly, while the updated Special Tax Notices in Notice 2026-13 are welcomed, the updates should largely reflect language that plan administrators have already been including. To the extent there are future changes in applicable law, plan administrators should update the Special Tax Notice accordingly until new model safe harbor Special Tax Notices are issued by the IRS.
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Original text here: https://www.mcdonaldhopkins.com/insights/news/irs-provides-updated-safe-harbor-402-f-notices
[Category: BizLaw/Legal]
C-SPAN WILL PRESENT CLINTON DEPOSITION VIDEOS ACROSS ALL PLATFORMS FOLLOWING THE PUBLIC RELEASE
WASHINGTON, March 3 -- C-SPAN, a public affairs network providing Americans with unfiltered access to congressional proceedings, issued the following news release:
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C-SPAN WILL PRESENT CLINTON DEPOSITION VIDEOS ACROSS ALL PLATFORMS FOLLOWING THE PUBLIC RELEASE
Watch/Hear the Clinton Depositions on Epstein Investigation in their Entirety, Without Commercials or Commentary
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C-SPAN Networks are now presenting the entire videos of Bill Clinton and Hillary Clinton depositions to the House Oversight Committee in the panel's ongoing investigation into Jeffrey Epstein.
* The Bill Clinton deposition
... Show Full Article
WASHINGTON, March 3 -- C-SPAN, a public affairs network providing Americans with unfiltered access to congressional proceedings, issued the following news release:
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C-SPAN WILL PRESENT CLINTON DEPOSITION VIDEOS ACROSS ALL PLATFORMS FOLLOWING THE PUBLIC RELEASE
Watch/Hear the Clinton Depositions on Epstein Investigation in their Entirety, Without Commercials or Commentary
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C-SPAN Networks are now presenting the entire videos of Bill Clinton and Hillary Clinton depositions to the House Oversight Committee in the panel's ongoing investigation into Jeffrey Epstein.
* The Bill Clinton depositionis right now showing on C-SPAN 1.
* The Hillary Clinton deposition is right now showing on C-SPAN 3.
* Iran coverage and live coverage of the U.S. Senate continues on C-SPAN 2.
The Clinton videos are being presented uninterrupted on C-SPAN as provided by the House Oversight Committee, and as always without commercials, editing, or commentary. The Clinton depositions will air this afternoon as noted and C-SPAN will re-air both depositions tonight in primetime on C-SPAN and C-SPAN3.
C-SPAN's YouTube channel also is streaming the complete deposition videos for both Clintons, as is C-SPAN.org and the C-SPAN Now app
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Original text here: https://static.c-spanvideo.org/files/pressCenter/Clinton+Depositions+Airing+Now+on+C-SPAN+and+C-SPAN3.pdf
[Category: BizMedia]
World Scrambles for Rare Earths to Erode China's Dominance From 90% to 69% Market Share and Gain Pricing Power, According to Bloomberg Intelligence
NEW YORK, March 3 (TNSxrep) -- Bloomberg issued the following news:
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World Scrambles for Rare Earths to Erode China's Dominance from 90% to 69% Market Share and Gain Pricing Power, According to Bloomberg Intelligence
New report finds a shortage of rare-earth supplies still likely as geopolitical tensions fracture the highly concentrated market, with demand set to reach $10 billion in 2026 and rise 7% per year through 2030
Leading rare-earth producers outside China, such as MP Materials and Lynas Rare Earths, set to gain pricing power
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New research from Bloomberg Intelligence (BI) finds
... Show Full Article
NEW YORK, March 3 (TNSxrep) -- Bloomberg issued the following news:
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World Scrambles for Rare Earths to Erode China's Dominance from 90% to 69% Market Share and Gain Pricing Power, According to Bloomberg Intelligence
New report finds a shortage of rare-earth supplies still likely as geopolitical tensions fracture the highly concentrated market, with demand set to reach $10 billion in 2026 and rise 7% per year through 2030
Leading rare-earth producers outside China, such as MP Materials and Lynas Rare Earths, set to gain pricing power
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New research from Bloomberg Intelligence (BI) findsthat rising neodymium-praseodymium (NdPr) supply from countries like US and Australia is set to cut China's market share to 69% by 2030 from a dominant 90% in 2024. NdPr accounts for the majority of rare-earth market value and underpins demand for permanent magnets that power defense systems, technology, industrial automation and transport systems.
BI's Rare Earths 2026 Outlook Deep Dive finds that renewed trade tensions will potentially lift the annual NdPr market-value to $10 billion in 2026 and strengthen fundamentals for mining operators based outside of China, including MP Materials and Lynas Rare Earths, after trade disputes have highlighted supply-chain vulnerabilities. The sales forecasts of leading global companies - including Apple, BYD and Lockheed Martin - will rely on the availability of 97,000 metric tons of NdPr annually by 2030. That's 50% more than what was consumed in 2024.
The report indicates that growth is increasingly driven by policy as countries look to de-risk supply chains, with global public funding injections worth $10 billion expected in 2026 alone. NdPr demand is predicted to rise 7% a year through 2030, fueled by technological and industrial advances. Vehicle motors and consumer electronics are seen making up most end-market usage, while simmering geopolitical tensions have raised the strategic importance of military and industrial applications. NdPr production outside China is set to rise 4.4 times between 2024-30 primarily reflecting output from mines in North America and Australia. Despite this increase in funding, BI forecasts a 36% global NdPr shortfall by 2030 as shortages persist.
"We're seeing a surge in rare-earth investment as modern technologies demand more critical materials" commented Jack Baxter, Global Metals & Mining Analyst at BI and co-author of the report. "That said, we anticipate a significant shortfall in supply due to trade uncertainties, with lead times as long as 10 years to get new material out of the ground. This will give pricing power to the few producers that currently are able to supply critical materials outside of China, fracturing the globalized market."
The markets for NdPr and other rare-earth oxides are set to diverge, with persistent Chinese surpluses coexisting alongside structural deficits elsewhere. BI's scenario shows global NdPr production growing more than four times to 64% of demand by 2030, reducing China's influence over pricing.
"Chinese incumbents, China Northern and China Rare Earth, will continue to dominate the market in the near term" said Richard Bourke, Senior Basic Materials Analyst at BI and co-author of the report. "However, export quotas could displace up to 13,000 metric tons of demand in 2026 and shift pricing power to operators like MP Materials and Lynas, the leading NdPr suppliers outside China, which will see favorable conditions for profit momentum with this shift to dent China's stronghold on the market."
Rare-earth equities have risen sharply since 2025 and outperformed major benchmarks, driven by improved mine economics, including higher commodity prices, increased policy support and with higher scope of upside from panic purchasing by restricted buyers and government stockpiling. Notably, major Chinese producers continue to trade at premium multiples, despite rising export-quota risks and the prospect of demand leakage to non-Chinese supply.
Additional key findings from Bloomberg Intelligence's Rare Earths 2026 Outlook Deep Dive include:
* Global conflict creates urgency: Chinese export threats have targeted military dual-use applications as NATO members commit to expanding military spending as a share of GDP. Rare-earth permanent magnets are favored for military applications over heavier and less efficient substitutes.
* Geopolitics, development timelines key to growth: Policy intent is moving toward coordinated action as the US and allied governments combine funding, mined production and industrial expertise to wean themselves off Chinese supplies. Coming industry catalysts are likely to incentivize mine development, while shaping market pricing and contract structures.
* US policies lift supply, cut China market share: Public investment, spearheaded by the US, could stimulate 29,600 metric tons of new NdPr supply outside China this decade. Lynas Rare Earths will remain the largest supplier outside China as production at its Malaysian refinery ramps up to nameplate capacity of 10,500 metric tons a year. It has scope to lift production further based on higher throughput from the Mount Weld mine in Australia. MP Materials' NdPr production swells to 7,300 tons in 2030, with supplies flowing to the US military due to price incentives.
In this special report, BI analysts model rare-earth supply by producer and demand by core end-market in China and globally. This and other metals supply-demand models are available on the Bloomberg Terminal at {BI BMETG COMMCALC}.
The full Rare Earths 2026 Outlook Deep Dive report is available to Bloomberg Terminal subscribers who can access the report via {BI DEEP
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About Bloomberg Intelligence
Bloomberg Intelligence (BI) research delivers an independent perspective providing interactive data and investment research on over 2,000 companies, 135 industries and all global markets. Our team of over 400 research professionals help our clients make decisions with confidence in the rapidly moving investment landscape. BI analysis is backed by live, transparent data from Bloomberg and more than 600 third-party data contributors that clients can use to refine and support their ideas. Bloomberg Intelligence is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App. Visit us at https://www.bloomberg.com/professional/product/bloomberg-intelligence/ or request a demo.
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About Bloomberg
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength - delivering data, news and analytics through innovative technology, quickly and accurately - is at the core of the Bloomberg Terminal. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.
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Original text here: https://www.bloomberg.com/company/press/world-scrambles-for-rare-earths-to-erode-chinas-dominance-from-90-to-69-market-share-and-gain-pricing-power-according-to-bloomberg-intelligence/
[Category: BizMedia]
Attorney Michael Minton Presents at Statewide Agribusiness Industry Conference
ORLANDO, Florida, March 3 -- Dean Mead, a law firm, issued the following news release:
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Attorney Michael Minton Presents at Statewide Agribusiness Industry Conference
Dean Mead Tax and Estate Planning attorney Michael Minton served as a panelist during the Saunders Lay of the Land Conference. Addressing "Tax Reform & Estate Planning - Opportunities & Strategies," panelists provided practical insights on topics such as estate planning, property sales, and business investments.
When asked about the impact of taxes on estate planning, Michael shared, "The tax tail should not wag the dog."
... Show Full Article
ORLANDO, Florida, March 3 -- Dean Mead, a law firm, issued the following news release:
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Attorney Michael Minton Presents at Statewide Agribusiness Industry Conference
Dean Mead Tax and Estate Planning attorney Michael Minton served as a panelist during the Saunders Lay of the Land Conference. Addressing "Tax Reform & Estate Planning - Opportunities & Strategies," panelists provided practical insights on topics such as estate planning, property sales, and business investments.
When asked about the impact of taxes on estate planning, Michael shared, "The tax tail should not wag the dog."He continued, "While it is an important factor to take into consideration, addressing business succession planning and making sure tax ramifications are considered as part of an overall estate plan should be the focus. This should be analyzed every few years."
Michael joined fellow panelists Stephen Hamic and Dennis Gallant, CPAs with Thomas Howell Ferguson P.A., CPAs' Tax Services team. The panel was moderated by Tyler Davis, President with Saunders Real Estate.
Learn more about Saunders Real Estate: https://www.saundersrealestate.com/.
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Original text here: https://www.deanmead.com/attorney-michael-minton-presents-at-statewide-agribusiness-industry-conference/
[Category: BizLaw/Legal]
Northern Trust Asset Management Enters Digital Assets Market with Launch of Tokenized Money Market Share Class
CHICAGO, Illinois, March 3 [Category: BizFinancial Services] -- Northern Trust, an international financial services company, issued the following news release:
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Northern Trust Asset Management Enters Digital Assets Market with Launch of Tokenized Money Market Share Class
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CHICAGO - Northern Trust Asset Management, a leading global investment management firm with US$1.4 trillion in assets under management as of December 31, 2025, launched a tokenized share class for its NIF Treasury Instruments Portfolio.
Marking the firm's entry into the digital assets market, the tokenized share class
... Show Full Article
CHICAGO, Illinois, March 3 [Category: BizFinancial Services] -- Northern Trust, an international financial services company, issued the following news release:
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Northern Trust Asset Management Enters Digital Assets Market with Launch of Tokenized Money Market Share Class
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CHICAGO - Northern Trust Asset Management, a leading global investment management firm with US$1.4 trillion in assets under management as of December 31, 2025, launched a tokenized share class for its NIF Treasury Instruments Portfolio.
Marking the firm's entry into the digital assets market, the tokenized share classrepresents a digital mirror record of the fund's institutional share class using blockchain technology. This offering will initially be available to clients on BNY's (NYSE: BK) market-leading LiquidityDirect SM platform, which utilizes Goldman Sachs Digital Asset Platform ("GS DAP (r) ").
"This launch reflects Northern Trust Asset Management's commitment to delivering secure, efficient, and innovative liquidity solutions for institutional investors," said Paula Kar, Chief Product Officer, Northern Trust Asset Management. "Tokenization delivers meaningful advantages, including improved settlement efficiency and enhanced visibility. Money market funds are on the leading edge of digital innovation, and we are excited to advance our product suite in this evolving space."
"As the investment landscape rapidly evolves with the use of blockchain-based solutions, Northern Trust Asset Management is committed to staying on the forefront of innovation to meet the needs of our institutional clients." said Michael Hunstad, Ph. D., President, Northern Trust Asset Management. "By applying tokenization to institutional grade liquidity strategies, we are offering clients a modern, digital-first way to access money market investments while maintaining our high standards of governance, risk management and service."
The NIF Treasury Instruments Portfolio provides investors with exposure to a diversified pool of short-term U.S. Treasury instruments, now with the added option of a blockchain-enabled access model designed to support operational resilience and evolving digital market infrastructure.
Northern Trust Asset Management has US$355 billion in assets under management in liquidity strategies as of December 31, 2025.
Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Institutional Funds carefully before investing. Call 800-637-1380 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.
Northern Funds Distributors, LLC, distributor. Northern Funds Distributors, LLC is not affiliated with Northern Trust
All investments are subject to investment risk, including the possible loss of principal amount invested. Investments do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.
You could lose money by investing in the Portfolio. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, the Portfolio cannot guarantee it will do so. An investment in the Portfolio is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation, any other government agency, or The Northern Trust Company, its affiliates, subsidiaries or any other bank. The Portfolio's sponsor is not required to reimburse the Portfolio for losses, and you should not expect that the sponsor will provide financial support to the Portfolio at any time, including during periods of market stress.
Although the Portfolio does not currently employ blockchain technology or invest in crypto assets, Digital Enabled Shares are expected to be purchased and held through intermediaries that intend to use blockchain technology to maintain a mirror record of share ownership for their customers. The authorized financial intermediary, and not the Portfolio, NTI, TNTC or their affiliates, will be responsible ownership records on the blockchain.
NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE
About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with $1.4 trillion in assets under management as of December 31, 2025, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take -in all market environments and any investment strategy. That's why we combine robust capital markets research, expert portfolio construction and comprehensive risk management in an effort to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.
Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2025, Northern Trust had assets under custody/administration of US$18.7 trillion, and assets under management of US$1.8 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
About BNY
BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of December 31, 2025, BNY oversees $59.3 trillion in assets under custody and/or administration and $2.2 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
Media Contact
Meghan Carbone
+1 908-894-0573
Meghan.Carbone@bny.com
About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
The publisher's sale of this reprint does not constitute or imply any endorsement or sponsorship of any product, service or organization.
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Original text here: https://www.northerntrust.com/asia-pac/pr/2026/northern-trust-asset-management-enters-digital-assets-market-with-launch-of-tokanized-money-market-share-class
