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Shareholders Securities and Exchange Commission (SEC) Investment Funds

Stinson LLP

SEC Withdraws Proposed Rules Affecting Investment Advisors, Funds and Broker-Dealers

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On June 12, 2025, the Securities and Exchange Commission (SEC) withdrew 14 outstanding proposed regulations issued during the Biden Administration. These withdrawals underscore a dramatic priority shift away from regulation...more

Ropes & Gray LLP

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

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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

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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

K&L Gates LLP

SEC Expands "Dealer" Definition to Capture Liquidity Providers

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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

White & Case LLP

Amending Bylaws and Charters to Address Universal Proxy, Shareholder Activism and Officer Exculpation

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As the 2023 proxy season winds down for calendar year companies, it is a good time to consider possible bylaw and charter amendments to address recent developments with respect to universal proxy, shareholder activism and...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

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

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In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Neuberger Berman Alleges Saba Capital Violating 1940 Act To Win Proxy Fights; Saba Investors on Notice, Should Consider Own Duties

As recently noted, Saba Capital Management, L.P. (Saba) has begun to escalate its attacks on the closed-end fund asset class, at the expense of retail fund shareholders.1 Saba continues its offensive against closed-end funds,...more

Perkins Coie

SEC Staff Relaxes Certain In-Person Board Voting Requirements for Registered Investment Companies

Perkins Coie on

The SEC’s Division of Investment Management has relaxed certain in-person voting requirements for fund boards, subject to certain conditions, in a no-action letter to the Independent Directors Council (the IDC) issued on...more

Goodwin

Financial Services Weekly News - December 2018

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Editor's Note - In This Issue. The Securities and Exchange Commission (SEC) adopted rules and amendments designed to promote research on mutual funds, exchange-traded funds (ETFs), registered closed-end funds, business...more

Dorsey & Whitney LLP

This Week In Securities Litigation

Dorsey & Whitney LLP on

The SEC prevailed on two summary judgment motions. One centered on a manipulation action. The other was against an attorney who facilitated a prime bank fraud. The Commission also filed: An action against UBS tied to its...more

Skadden, Arps, Slate, Meagher & Flom LLP

The SEC Proposes Expanding Reporting Requirements for Investment Companies

On May 20, 2015, the Securities and Exchange Commission (the “SEC”) approved new proposed rules, forms and amendments that would expand the information that registered investment companies1 are required to report. The SEC’s...more

Stinson - Corporate & Securities Law Blog

Amicus Briefs Pour in for Wal-Mart Shareholder Proposal Case

Amicus briefs are pouring in in favor of Wal-Mart in its appeal to the Third Circuit. Wal-Mart appealed the United States District of Delaware’s decision that denied Wal-Mart the right to exclude a shareholder proposal...more

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