Banking and Finance

Recent Posts

Washington State to Regulate Fund Managers
Posted on 21 May 2013 by Asher Bearman

This article is also appearing on The Venture Alley and on Startup Law Blog . Per the authors, readers may feel free to re-post this content elsewhere as well. The world is changing for venture funds and similar funds in Washington State, and not... Read More

Thoughts on Private Fund Adviser Reporting
Posted on 11 Nov 2011 by Asher Bearman

This past week, the SEC and CFTC jointly adopted rules regarding the new Form PF that certain fund managers will need to file under the Adviser's Act. The form will require advisers to disclosure detailed information about their funds' holdings... Read More

You Cannot 'Crowdfund' a Fund (in Case You Were Wondering)
Posted on 24 Apr 2012 by Asher Bearman

Crowdfunding may provide an interesting way for some companies to raise capital. It's definitely getting a lot of the hype since passage of the Jumpstart Our Business Startups ( JOBS ) Act earlier this month. I've read articles talking about... Read More

Proposed Identity Theft Red Flags Rules
Posted on 29 Feb 2012 by Doug Cornelius

Identity theft is a serious problem. Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act increased the scope of firms that would be subject to federal regulatory requirements on identity theft rules. The Securities Exchange Commission... Read More

Hedge Funds And Money Laundering
Posted on 21 May 2013 by Judith Gross

There are indications from Washington that hedge funds, long exempt from anti-money laundering reporting rules, may soon be brought into the fold under new rules proposed by the Treasury Department's Financial Crimes Enforcement Network (FinCEN... Read More

Pay for Performance from Future Fund Flows
Posted on 5 Apr 2011 by Doug Cornelius

Michael Weisbach Professor and Ralph W. Kurtz Chair in Finance at The Ohio State University, and his colleagues, Ji-Woong Chung, Berk A. Sensoy and Léa H. Stern, are looking at the effect of the pay for performance at private equity funds.... Read More

Perkins Coie LLP on Britt v. Twin City: Private Equity Firms Should Review the Scope of the Insurance Purchased to Cover Claims Against Them and the Individuals They Place as Directors
Posted on 26 Aug 2013 by LexisNexis Legal Newsroom Staff

Excerpt: The recent decision in Britt v. Twin City Fire Insurance Co. , C.A. No. 8SACV 12-1355-JST (JPRx), slip op. (C.D. Cal. June 26, 2013), highlights some important insurance considerations for private equity funds and the individuals they place... Read More

The SEC’s Asset Management Unit
Posted on 7 Apr 2011 by Doug Cornelius

Yesterday, Bruce Carton of Securities Docket hosted a webinar: The SEC's Asset Management Unit and Strategies for Avoiding Trouble in 2011 and Beyond . He managed to get Bruce Karpati, the co-head of the SEC's Asset Management unit, to participate... Read More

Hedge Funds Wrestle with Employee Personal Account Trading Conflicts
Posted on 6 Mar 2014 by Judith Gross

Trading ahead of client accounts. Insider trading. Breach of fiduciary duty. These were just some of the concerns that the SEC had when it adopted the requirement for investment advisers to establish policies to monitor employee personal trading in... Read More

SEC, CFTC Adopt Form PF for Systemic Risk Data Reporting by Private Fund Advisers
Posted on 2 Apr 2012 by Corporate and Securities Law Community Staff

An EIA which summarizes the new Form PF adopted on October 21, 2011 by the Securities and Exchange Commission. This form is used to collect information from private fund advisers, primarily to assist the Financial Stability Oversight Council ("FSOC"... Read More

U.S. Regulation, Express Delivered Overseas
Posted on 18 Sep 2013 by Kevin M. LaCroix

In a series of recent conversations with industry colleagues around the world, one of the recurring themes has been the growing risk of regulatory investigation and enforcement action companies outside the U.S. are facing. One very particular aspect of... Read More

Sometimes You Get Stuck and Can’t Get Out
Posted on 22 Jun 2011 by Doug Cornelius

Finally, the SEC is going to take some action today on the regulation of investment advisers, venture capital funds, and private fund managers. For years, they've been trying to get regulatory control of private funds. Now they are going to... Read More

CFTC Rescinds a Popular Private Fund Manager Exemption
Posted on 21 Jun 2012 by K & L Gates LLP

Excerpt: On February 8, 2012, the Commodity Futures Trading Commission ("CFTC" or "Commission") issued final regulations that repeal the commodity pool operator ("CPO") registration exemption widely used by the operators... Read More

First Circuit: Private Equity Fund Liable for Bankrupt Portfolio Company's Pension Obligations
Posted on 21 Aug 2013 by Kevin M. LaCroix

On July 24, 2013, in a case the court said was one of “first impression,” the First Circuit held that, due to the nature of its involvement in the management of its portfolio company’s operations, a private equity firm was potentially... Read More

Form PF and Private Funds
Posted on 2 Nov 2011 by Doug Cornelius

In addition to filing Form ADV with the SEC when they register with the Securities and Exchange Commission, private fund managers will also need to start filing Form PF next year. The amount of information required by Form PF is tiered. Advisers... Read More