The COVID-19 Pandemic and Electronic Discovery Data Collection
Perkins Coie LLP Blogs
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Additional Guidance on Annual Meeting Issues During COVID-19 Pandemic
By Allison Handy
In recent days, both Delaware Governor John C. Carney and the SEC’s Division of Corporation Finance (Corp Fin) have provided additional relief for public companies working to hold their annual meetings during the coronavirus (COVID-19) pandemic.
Delaware Order. On April 6, 2020, Governor Carney issued a Tenth Modification to his State of Emergency Order for the State of Delaware. The order addresses the concerns of public companies incorporated in Delaware regarding how…
Exempt Reporting Advisers: The SEC Is Watching
On March 12, 2020, the U.S. Securities and Exchange Commission announced a settlement with an exempt reporting adviser and its two founders for failure to disclose several conflicts of interest and failure to take measures required by the private fund’s offering documents.
The SEC is examining exempt reporting advisers, and although not subject to all the provisions of the Investment Advisers Act of 1940 (Advisers Act), exempt reporting advisers have a fiduciary duty to their…
Small Businesses, Independent Contractors, And Sole Proprietors: Take Advantage of Government COVID-19 Relief Before The Money Runs Out
A Negative Sign of the Times: Form N-MFP Can Report Negative Yields
On April 7, 2020, the Securities and Exchange Commission (the “SEC”) announced an update to the EDGAR system that would allow negative values to be entered in Item C.17 of Form N-MFP. Money market funds use Form N-MFP to report information to the SEC as of the end of each month. Item C.17 requires, for each security held by the fund, “[t]he yield of the security as of the reporting date.” The change was…
SEC Staff Publishes Risk Alerts Regarding Reg BI and Form CRS Inspections and Possible COVID-19 Impact
On April 7, 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) published two risk alerts intended to provide market participants with advance information regarding (1) upcoming inspections for broker-dealer compliance with Regulation Best Interest (“Regulation BI”) and (2) upcoming inspections for broker-dealer and investment adviser compliance with Form CRS. The compliance date for both Regulation BI and Form CRS is June 30, 2020.…
SEC Staff Publishes Risk Alerts Regarding Reg BI and Form CRS Inspections and Possible COVID-19 Impact
By Val Dahiya, Anna Smith-Sandy
On April 7, 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) published two risk alerts intended to provide market participants with advance information regarding (1) upcoming inspections for broker-dealer compliance with Regulation Best Interest (“Regulation BI”) and (2) upcoming inspections for broker-dealer and investment adviser compliance with Form CRS. The compliance date for both Regulation BI and Form CRS is June 30, 2020.…
Covid-19 Alters Business-as-Usual for DOJ Investigations
The U.S Department of Justice recently asked Congress to grant it emergency powers as the coronavirus outbreak begins to affect the timing of court proceedings and DOJ’s ability to conduct investigations. Perkins Coie attorneys explore DOJ’s request and the pandemic’s effects on the practice of white-collar criminal defense.
Click here to read more.…
COVID-19 Alters Business-as-Usual for DOJ Investigations
CFTC Publishes New Customer Advisory Cautioning Away From Potential Coronavirus-Related Fee Scams
On April 6, 2020, the Commodity Futures Trading Commission (“CFTC”) Office of Customer Education and Outreach (“OCEO”) published an additional customer advisory (“Advisory”) cautioning the public regarding potential fee scams. OCEO noted that many of these schemes are now targeting individuals that may be financially impacted by the Coronavirus pandemic. OCEO previously published a Customer Advisory on March 31, 2020 regarding potential fraudulent schemes posing to take advantage of market volatility related to the pandemic.…