Videocast: Asset management regulation in 2020 videocast series – FinTech initiatives
Videocast: Asset management regulation in 2020 videocast series – Investment company developments
An Overview of the SEC’s Recently Adopted Exchange-Traded Funds (ETF) Rule
On July 1, 2025, the staff of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (the “SEC”) issued another in a series of statements regarding crypto assets. This particular statement, titled...more
On July 1, the Securities and Exchange Commission (SEC) Division of Corporation Finance issued guidance outlining disclosure expectations for crypto asset exchange-traded products, including both spot and derivative-based...more
The European Securities and Markets Authority (ESMA) has launched the first selection procedure for a consolidated tape provider (CTP) for shares and exchange-traded funds. The selection process will be guided by the...more
One of the most talked about topics in asset management is the possibility of offering Mutual Fund and ETF Classes in the same Fund. For fund sponsors and service providers looking to offer this service, there are significant...more
An Overview of Which Market Disruption Events to Include for the Most Common Asset Classes under a Medium-Term Note Program - A movie scene showing a day in the life of a calculation agent would likely not survive the...more
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
Introduction - On March 17, 2025, Ropes & Gray published a white paper describing the much-anticipated Share Class Relief 1 and outlining matters we believed Advisers and Boards may want to consider in connection with...more
Introduction: The Evolution of Real-World Asset Tokenization - Since Bitcoin’s creation in 2008, cryptocurrencies and traditional assets have largely existed in parallel. In our previous exploration of Real World Assets...more
“The most recent development in the registered investment funds space has been the long-awaited movement toward the SEC granting dual share class ETF exemptive relief. This will be a significant catalyst for growth in...more
ESMA Guidelines and Final Draft RTS on Liquidity Management Tools of UCITS and Open-Ended AIFs - Pursuant to the revised Directive 2011/61/EU (AIFMD) and Directive 2009/65/EC (UCITS Directive), the European Securities and...more
Exchange-traded funds (ETFs) have gained an increasing foothold in the wealth-management investment universe, with ETF assets under management currently about half the assets under management of mutual funds. As the ETF...more
Regulatory shifts are creating new opportunities in exchange-traded products and public capital markets for digital asset companies....more
U.S. Digital Asset Companies Announce New Product Launches - A major U.S. cryptocurrency exchange recently announced that certain customers can now trade “over 11,000 U.S.-listed stocks and ETFs, bringing equities and...more
On the heels of other guidance issued by the US Securities Exchange Commission’s (SEC) Division of Corporation Finance (Division), the Division released a statement (Statement) on 10 April 2025 addressing its views about,...more
On 17 April 2025, the Central Bank of Ireland published its latest UCITS Q&A (42nd Edition). The Q&A contains its updated policy position regarding portfolio transparency requirements for exchange traded funds ("ETFs")...more
U.S. Financial Services Firms Announce Digital Asset Initiatives - A major U.S. financial services company and operator of global financial exchanges and clearinghouses recently announced an agreement with the issuer of the...more
In a recent press release, Custodial Bank and Vantage Bank announced “America’s first bank-issued stablecoin on a permissionless blockchain.” According to the press release, “[t]he banks collaborated on the mint, transfer and...more
Introduction - Many regulated businesses believe that the only thing worse than strict regulations is a wholly uncertain regulatory environment. With many rule changes on hold and enforcement actions and investigations being...more
Vanguard announced expense ratio reductions to 168 mutual fund and exchange-traded share classes across 87 funds. The reductions will save investors more than $350 million in 2025 alone, the largest annual expense ratio...more
On January 16, 2025, the staff of the Disclosure Review and Accounting Office of the SEC’s Division of Investment Management issued an Accounting and Disclosure Information (ADI) publication to highlight issues the SEC staff...more
Web3 represents the next evolution of the internet, characterized by decentralized networks and blockchain technology, enabling user-centric platforms and applications with enhanced security and data ownership. Digital...more
On October 31, 2024, the SEC censured a major wirehouse for selling mutual funds to customers when lower-priced exchange-traded fund (ETF) “clones” of those funds were available. The SEC found that when recommending the...more
Lowenstein Crypto advises leading digital asset and cryptocurrency projects, exchanges, and trading firms. Our practice covers regulatory advice, transactions and structuring advice, investigations, and adversarial matters...more
The Securities and Exchange Commission (the “SEC”) recently adopted Rule 13f-2 and Form SHO under the Securities Exchange Act of 1934 (the “Exchange Act”), implementing provisions of the Dodd-Frank Wall Street Reform and...more
The Commodity Futures Trading Commission recently published a final rule amending the list of permissible investments for customer funds by futures commission merchants and derivatives clearing organizations....more