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The Fed’s recent proposal marks the latest development on one of the most important policy questions for the U.S. financial system today: who is entitled to have a master account? A mas...
On 30 April 2021, the Financial Conduct Authority (FCA) published a consultation paper on proposed changes to the Listing Rules that apply to special purpose acquisition companies (SPACs)...
Rules and Regulations
SEC Staff Statement on Withdrawal and Modification of Staff Letters Related to Rulemaking on Use of Derivatives and Certain Other Transactions by Registered Funds...
Litigation
SEC Settles with Investment Adviser Principals Responsible for Alleged Misstatements and Omissions Regarding Due Diligence, Valuation, and Conflicts of Interest
On April 22, 2021, the White House published the U.S. International Climate Finance Plan, as called for in President Biden’s January 2021 “Tackling the Climate Crisis at Home and Abro...
In a unanimous decision, the Supreme Court held in AMG Capital Management, LLC v. FTC that the FTC does not have authority to seek disgorgement or restitution under Section 13(b) of the F...
On April 8, 2021, the Ninth Circuit issued a decision affirming the dismissal of a putative securities fraud class action against an investment bank accused of fraudulently attempting to ...
Citing the “harmful foreign activities of the Government of the Russian Federation,” on April 15, 2021 President Biden issued Executive Order 14024, which broadly authorizes sanctions...
The Securities and Exchange Commission’s (SEC) Division of Examinations (the Staff) recently issued a risk alert reminding broker-dealers (firms) of their obligations under anti-money l...
This week, the staff of the SEC issued a statement expressing a view that, despite the widespread practice to the contrary, most warrants issued in connection with a SPAC transaction shou...