Cornerstone Research Experts in Focus: Jules van Binsbergen
NOWOTNY KNOWS SQUAT! Helping Financial Advisors Build a Clientele and Assets Under Management (AUM)!
NOWOTNY KNOWS SQUAT! Helping Financial Advisors Build a Clientele and Asset Under Management (AUM)!
Podcast: Federal Court Rejects Mutual Fund Fee Claims and Recognizes Market Realities
Thomson Reuters Session 2: Investment Management, Hedge Funds and Registered Mutual Funds: What's Happening Now?
Cole-Frieman & Mallon partner/co-founder Bart Mallon Discusses CFTC Regulation 4.5, the Volcker Rule & Other Compliance Issues
On June 30, 2025, the Supreme Court granted certiorari in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., agreeing to resolve a circuit split over whether private parties have an implied right of action to...more
Here’s that in Ary Rosenbaum’s voice — clear, direct, with a personal anecdote to drive the point home: I’ve talked a lot about institutional share classes, revenue sharing, and the alphabet soup of fund share classes....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
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
The Central Bank of Ireland (CBI) and the Securities and Futures Commission of Hong Kong (SFC) entered into a Memorandum of Understanding on 14 May 2025 establishing a framework for the mutual recognition of funds (MRF)...more
Our investment funds team outline the latest developments within the investment funds market in the Cayman Islands, including the further changes to the Beneficial Ownership Regime, recent regulatory publications, CIMA annual...more
The Canadian Investment Regulatory Organization (“CIRO”) has published for comment Phase 5 of its rule consolidation project (the “Rule Consolidation Project”). Phase 5 involves rules relating to outsourcing and service...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
The Ontario Securities Commission (“OSC”) recently published OSC Rule 81-510 Dealer Rebates of Trailing Commissions (the “Rule”), which codifies temporary exemptive relief from the order-execution only (“OEO”) trailer ban...more
Don’t be fooled by the 90-day pause. It looks like high tariffs will be here to stay and we are in the midst of an all-out trade war with China, including a minimum 145% tariff....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
Over the past 25 years, the Cayman Islands has become a pre-eminent jurisdiction for the formation of alternative investment funds, with nearly 13,000 regulated open-ended funds and over 17,000 regulated closed-ended funds....more
The Division of Investment Management’s Disclosure Review and Accounting Office (DRAO) recently published an Accounting and Disclosure Information (ADI) reminding registrants of website posting obligations under SEC...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
Section 47(b) of the Investment Company Act of 1940 provides that contracts that violate or “whose performance involves, a violation of” the act are not enforceable by “either party.” ...more
A common strategy many wealth management firms recommend is ensuring that as much as 30% of your portfolio includes foreign investments and securities. What is the potential tax impact of foreign investments? One of the keys...more
In a recent enforcement action, the SEC concluded that the relationship between James Craigie and an officer of Church & Dwight Co. fatally undermined Craigie’s status as an “independent director” of the company under New...more
The Canadian Securities Administrators (“CSA”) have published for comment amendments and changes to the principal distributor model in the distribution of mutual fund securities (collectively, the “Proposed Amendments”). The...more
The Canadian Investment Regulatory Organization (“CIRO”) has published for comment Phase 4 of its rule consolidation project (the “Rule Consolidation Project”). Phase 4 involves the adoption of rules relating to managing...more
Our corporate team outline the latest developments within the corporate and finance market in Cayman including the amendments to the Beneficial Ownership Regime, winding up Cayman segregated portfolio companies, proposed...more
Our investment funds team outline the latest developments within the investment funds market in the Cayman Islands including the updated requirements under the Beneficial Ownership Transparency Act, a reminder of obligations...more
On August 28, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule (the “Final Rule”) that will define most SEC-registered investment advisers (“RIAs”) and exempt reporting advisers (“ERAs”) as...more
How does the beneficial ownership reporting regime developments impact those within the fund governance function? Introduction - As noted in our recent advisory, the Cayman Islands' beneficial ownership reporting...more
Update to the Cayman Islands beneficial ownership reporting regime - Following industry consultation, the Beneficial Ownership Transparency Act ("BOTA") was gazetted on 15 December 2023 and commenced on 31 July 2024,...more