SEC Rules and Regulations 
* SEC Proposes Rule Adjusting Performance Fee Asset Thresholds in the Definition of “Qualified Client”

Industry Update 
* Banking Regulators and the CFTC Propose Swap Margin and Capital Rules 
* Massachusetts Plans to Regulate Expert-Network Firms 
* Governor Cuomo Bans Elected Officials, Lobbyists and Placement Agents from NYCRF and “Pay-To-Play” 
* International Financial Policymakers Warn of Financial Stability Risks Posed by ETFs

Litigation 
* Fifth Circuit Affirms Dismissal of Hedge Fund Investor Suit in Connection with its Withdrawal Rights Following the Departure of a Key Person 
* Court Rules an Investment Manager for a Fund Lacks Standing to Pursue Claims on the Fund’s Behalf


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