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Winstead PC

SEC Renewed Action on Hedge Clauses

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Hedge clauses are provisions in investment advisory agreements that aim to limit an adviser’s liability for certain actions or outcomes. The U.S. Securities and Exchange Commission (the “SEC”) has expressed the position that...more

Mayer Brown Free Writings + Perspectives

Top 10 Practice Tips: Comfort Letters - August 2022

This practice note discusses 10 practice points that can help you, as counsel to underwriters or initial purchasers, skillfully navigate the task of reviewing and negotiating comfort letters. A comfort letter is a letter...more

Stinson LLP

SEC Increases Qualified Client Threshold

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In an order effective August 16, 2021, the Securities and Exchange Commission (SEC) increased the dollar amount tests in the "qualified client" definition under Advisers Act Rule 205-3....more

Polsinelli

Court Provides Additional Guidance On When Notes Are Not Securities - The Kirschner Case

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The loan market breathed an immense sigh of relief this spring with the ruling in Kirschner v. JPMorgan Chase Bank, N.A. 1 (“Kirschner”) affirming the prevailing market view that notes representing syndicated loans are not...more

Cadwalader, Wickersham & Taft LLP

Kirschner Decision—Implications for CLOs and Syndicated Loans

On May 22, 2020, Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York granted a motion to dismiss in Kirschner v. JPMorgan Chase Bank, N.A., finding, inter alia, that the syndicated loans at...more

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