Regulatory & Compliance Update, published by Schulte Roth & Zabel LLP, covers developments in financial regulation and compliance, focusing on securities laws, investment company regulations, and sanctions programs. The blog addresses regulatory changes affecting exchange-traded funds (ETFs), private funds, and banking entities, including updates on the Volcker Rule and SEC rulemakings. It also reports on enforcement trends, cybersecurity and data protection requirements, and international sanctions impacting jurisdictions such as Iran and Venezuela. The blog provides summaries of regulatory agency guidance, rule proposals, and final rules relevant to investment advisers, broker-dealers, and financial institutions.
An increasing number of private fund managers are turning to alternative products registered under the Investment Company Act of 1940 as a means of growing their assets under management and diversifying their product offerings and revenue streams.
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In a typical private equity fund, investors are making capital commitments to a limited partnership that will be drawn down over a number of years at the direction of the general partner of the limited partnership. The structure of the…
In this SRZ Insights video, partner Brian Daly discusses the potential impact of Form ADV amendments on U.K. investment managers. He addresses key aspects of the major changes — including how the biggest change impacts the use of the client-…
A decision issued on Jan. 24, 2017, in the U.S. District Court for the Southern District of New York dismissed a complaint alleging the payment of excessive advisory and administration fees by Prospect Capital Corporation, a business development company regulated…
From 1 March 2017, the new variation margin rules for over-the-counter derivatives contained in the regulatory technical standards adopted by the European Commission will apply to certain European counterparties.
In anticipation of the 1 March deadline, European counterparties (and any…
In this SRZ Insights video, partners Daniel F. Hunter, John J. Mahon and Craig Stein address alternatives to traditional hedge funds, discussing three innovative vehicles for increasing AUM in today’s market: risk retention vehicles, business development companies and insurance-dedicated
In this SRZ Insights video, partners Eleazer Klein and Michael E. Swartz discuss the impact of Section 16(b), the short-swing profit rule that requires corporate insiders to disgorge any profits from trades made within six months of each other. In…
In this SRZ Insights video, partner David M. Cohen discusses the potential impact of the Department of Labor’s fiduciary duty regulation on hedge funds. Though the new rule mostly focuses on retail investors, it could have impact on hedge funds…
In this interview with The Hedge Fund Journal, London partner Anna Maleva-Otto discusses challenges associated with MiFID II provisions for asset managers, including modifications to commission and research processes. Anna also addresses the full scope of MiFID II and the…
Although the U.S. Department of Labor’s (DOL) new Fiduciary Duty Rule is set to become effective on April 10, 2017, President Trump has taken action that may delay and possibly prevent the rule from becoming effective. On Feb. 3, 2017,…
