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Mayer Brown

UK Regulatory Update Asset Management Sector - Quarterly Newsletter Q2 - 2025

Mayer Brown on

FCA finalises rules for PISCES – new secondary private stock market – On 10 June 2025, the FCA issued its final rules for the Private Intermittent Securities and Capital Exchange ("PISCES"). PISCES is a new type of private...more

Ropes & Gray LLP

Supreme Court to Consider Closing a Back Door to Fund Litigation Claims Under the Investment Company Act

Ropes & Gray LLP on

On June 30, the U.S. Supreme Court agreed to hear a case that will determine whether Section 47(b) of the Investment Company Act of 1940 (ICA) creates a private right of action for shareholders of registered investment...more

Ropes & Gray LLP

Overview of ETF Share Class Operational Issues

Ropes & Gray LLP on

One of the most talked about topics in asset management is the possibility of offering Mutual Fund and ETF Classes in the same Fund. It appears that Funds may obtain the Relief necessary to offer these Share Classes in the...more

Conyers

Segregated Portfolio Companies: Cayman Courts Upholding the Segregated Principle

Conyers on

A Segregated Portfolio Company (SPC) provides for the protection of the assets held under one portfolio by ring-fencing them from the liabilities of other portfolios in the same company. SPCs were introduced in the Cayman...more

K&L Gates LLP

SEC Expands "Dealer" Definition to Capture Liquidity Providers

K&L Gates LLP on

Introduction - On 6 February 2024, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt two new rules that significantly expand the definitions of a “dealer” and “government securities dealer” in Sections...more

K&L Gates LLP

Global Survey of ESG Regulations for Asset Managers

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Asset managers (i.e., investment advisers) offering funds in more than one country are accustomed to adapting to different regulatory requirements. However, the challenges presented by the global regulation of environmental,...more

K&L Gates LLP

Fifth Circuit Affirms Dismissal of Derivative Suit Against Mutual Fund Adviser and Trustees

K&L Gates LLP on

The Fifth Circuit Court of Appeals recently affirmed the dismissal of a shareholder derivative suit filed against the manager and trustees of a Massachusetts business trust and SEC-registered investment company. In doing so,...more

K&L Gates LLP

SEC Proposes Major Changes to Prospectus and Shareholder Report Disclosure Scheme

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I. INTRODUCTION AND SUMMARY - The Securities and Exchange Commission (SEC) has proposed a bold new approach to shareholder and investor communications by investment companies registered on Form N-1A under the Investment...more

Akin Gump Strauss Hauer & Feld LLP

SFC Issues Consultation Conclusions on the Hong Kong Open-Ended Fund Company Regime

• The introduction of an OFC structure in Hong Kong is intended to further develop Hong Kong as an international asset management centre and fund domicile. • The OFC provides Hong Kong Type 9 licenced managers seeking to...more

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