On May 5, 2023, the U.S. Securities & Exchange Commission filed its first enforcement complaint under Rule 22e-4 of the Investment Company Act of 1940, 17 C.F.R. § 270.22e-4 (the Liquidity Rule). The complaint was brought...more
5/11/2023
/ Enforcement Actions ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investment Funds ,
Liquidity ,
Liquidity Risk Management Rule ,
Open-Ended Fund Companies (OFCs) ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Violations
Private funds can draw lessons about how to prioritize their compliance efforts and practices in response to a series of warnings by newly-appointed federal regulators of increased scrutiny, regulation, and enforcement...more
4/8/2022
/ Conflicts of Interest ,
Disclosure Requirements ,
Enforcement Actions ,
Enforcement Priorities ,
False Statements ,
Form PF ,
Government Investigations ,
Hedge Funds ,
Misleading Statements ,
Private Equity Funds ,
Private Funds ,
Proposed Amendments ,
Proposed Rules ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Valuation ,
Venture Capital
SEC Proposes Rule Amendments Requiring Climate-Related Disclosures; Southern District of New York Dismisses Securities Fraud Claims Against U.S. Stock Exchanges for Lack of Standing; Southern District of New York Dismisses...more
4/6/2022
/ Article III ,
Climate Change ,
Comment Period ,
Disclosure Requirements ,
Dismissals ,
Environmental Social & Governance (ESG) ,
Investors ,
Proposed Rules ,
Public Comment ,
Putative Class Actions ,
Sarbanes-Oxley ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Standing ,
Stock Exchange
IN THIS ISSUE -
Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more
3/9/2022
/ Appeals ,
Attorney's Fees ,
Banking Sector ,
Blockchain ,
Breach of Duty ,
Cannabis-Related Businesses (CRBs) ,
Civil Conspiracy ,
Class Action ,
Cryptocurrency ,
Department of Financial Services ,
Derivative Suit ,
Dismissals ,
Economic Sanctions ,
Enforcement Actions ,
Fannie Mae ,
Fiduciary Duty ,
Financial Services Industry ,
Freddie Mac ,
Investors ,
Mergers ,
Mootness Fee Applications ,
Ponzi Scheme ,
Popular ,
Reversal ,
Russia ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders ,
Supplemental Disclosures ,
Tortious Interference ,
Virtual Currency
Within the last two weeks, a group of plaintiffs’ attorneys have filed derivative lawsuits in U.S. federal court in New York against three separate special purpose acquisition companies (“SPACs”) — Pershing Square Tontine...more