FINRA, Nasdaq, and NYSE Warn Firms of Pump-and-Dump Schemes Following IPOs of...
FINRA, Nasdaq, and NYSE published separate notices to alert their members about recent observations related to initial public offerings (IPOs) for certain small capitalization (small-cap) issuers...
View ArticleISS Releases Changes to its Proxy Voting Guidelines for 2023
Last week, Institutional Shareholder Services Inc. ("ISS") released its annual update (the "Update") to its Proxy Voting Guidelines (the "Guidelines") outlining its changes for annual meetings...
View ArticleSEC "Gift" to the Industry: Four Market Structure Proposals, 3-2 Votes (In...
On December 14, 2022, the SEC proposed four separate equity market structure rulemakings, each of which, if adopted, will have significant effects on the markets and various industry participants....
View ArticleLaunch of Congressional Sustainable Investment Caucus
On January 25, Representatives Sean Casten and Juan Vargas announced the launch of the Congressional Sustainable Investment Caucus (CSIC). According to the press releases, the “CSIC will bring together...
View ArticleNational Futures Association to Expand Compliance Rulebook to Address Member...
On February 28, 2023, the National Futures Association (NFA), the self-regulatory organization for U.S. derivatives market participants, submitted to the Commodity Futures Trading Commission (CFTC) for...
View ArticleThe Way Forward March 2023 - Loan Assignments: Common Techniques and Key...
The past six months have been turbulent in the fund finance world. We have seen lenders in the market deal with significant capital constraints, we have seen a small amount of lenders scale back in the...
View ArticleR&W Insurance Coverage for Healthcare Services Transactions
After being squeezed out of the R&W insurance market in 2021, deals in the healthcare services sector have regained interest from insurers and are seeing lower rates and greater competition....By:...
View ArticleChanges to Ontario’s Fee Rules To Take Effect in April
Certain market participants in Ontario’s over-the-counter (OTC) derivatives market will be required to pay an Ontario Securities Commission (OSC) annual participation fee. Reduced fees for most...
View Article[Audio] New Trends in How the CFPB Gathers Information - The Consumer Finance...
Please join Troutman Pepper Partner Chris Willis for a solo episode as he discusses new trends in CFPB information gathering, specifically Dodd-Frank Act Section 1022 found in the rulemaking and market...
View ArticleBlockchain Regulatory Certainty Act Would Protect Non-Custodial Crypto Services
The bipartisan bill would provide a federal safe harbor for non-custodial blockchain service providers from state money transmission and digital asset licensing laws. On March 23, 2023, US House of...
View ArticleA Time of Transition for the CFTC
Over the past year, the Commodity Futures Trading Commission continued moving its focus away from practices like spoofing, instead bringing high-profile actions in the crypto space and reaching...
View ArticleNew York CRPTO Bill Would Prohibit Many Digital Asset Activities and Impose...
On May 5, 2023, New York Attorney General Letitia James released a bill for consideration by the New York State Legislature that would implement comprehensive and far-reaching regulation of digital...
View ArticleRegulation A Offerings: Alternative Real Estate Financing
With an increasing number of regional banks tightening lending standards and numerous private real estate funds pulling back on commercial real estate investing generally, many would-be real estate...
View ArticleFCA Commences Dialogue on Prospectus Reforms
FCA takes an innovative approach to obtain feedback from industry and stakeholder groups. In May 2023, the FCA launched a process of engagement and dialogue on how the UK’s future prospectus regime...
View ArticleEuropean Commission Clarifies Aspects of SFDR With Additional Guidance
The Commission has clarified requirements for financial product classifications and the definition of “sustainable investment” under the SFDR....By: Latham & Watkins LLP
View ArticleCFPB Eyes Consumer Payment Markets for Supervision and Examinations
The CFPB's latest regulatory agenda signals that it is considering rules to define larger participants in markets for consumer payments, to be published in July 2023. This action, if implemented, would...
View ArticleFunded Reinsurance: the PRA Flags Risks From Schematic Review
UK regulator continues to raise concerns that current market practices could lead to systemic risk. The Prudential Regulation Authority (PRA) has issued another communication, the latest of a series...
View ArticleNew Florida ESG Law Impacts Rating Agencies, Market Participants, Municipal...
The Florida Division of Bond Finance published a notice (the Notice) on June 29, 2023, providing guidance on Florida House Bill 3 (HB 3), which was signed into law on May 2, 2023, by Gov. Ron DeSantis....
View ArticleFCA Publishes Final Guidance on the Trading Venue Perimeter
UK regulator follows the European Securities and Markets Authority in clarifying the scope of the trading venue perimeter. On 5 July 2023, the FCA published its Policy Statement (PS23/11) containing...
View ArticleKirschner v. JP Morgan: Second Circuit Affirms That Syndicated Loans Are Not...
Second Circuit upholds SDNY’s finding that under Reves syndicated loans are not securities under federal law. Introduction - On August 24, 2023, the US Court of Appeals for the Second Circuit issued...
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