Securities

Recent Posts

The Chairman Outlines a Timetable for Dodd-Frank Rules
Posted on 12 Oct 2010 by Thomas O. Gorman

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a sprawling piece of legislation. It is also very much a work in progress, requiring hundreds of new rules to be written and dozens of studies. The burden imposed on the SEC is considerable... Read More

Defining “Financial Institution” Under Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act
Posted on 12 Oct 2010 by Eversheds Sutherland LLP

by Robert J. Pile, Jennifer D. Lambert, and Heather J. Howdeshell Third-party service providers to financial institutions have often taken the position that they are not "financial institutions" for purposes of federal law and thus are typically... Read More

This Week in Securities Litigation (April 1, 2011)
Posted on 1 Apr 2011 by Thomas O. Gorman

In the week ending with "April Fools Day," the Commission continued to issue proposed regulations to implement the Dodd-Frank Wall Street and Consumer Protection Act. SEC Enforcement focused on investment fund fraud actions, filing or resolving... Read More

Insider Trading – Still a Key Focus of Regulators
Posted on 15 Nov 2010 by Thomas O. Gorman

Financial reform and the implementing Dodd-Frank continue to be key topics for market regulators. The SEC, CFTC and others are busy writing rules to implement the Act. Many on Capital Hill are studying ways to limits or repeal portions of the landmark... Read More

SEC Enforcement Trends 2011: The Supreme Court, Dodd-Frank and the Reach of SEC Enforcement
Posted on 2 Feb 2011 by Thomas O. Gorman

The focus of SEC enforcement in the coming months is a function of its constricted and later expanded authority. Last year that authority contracted in the wake of the Supreme Court's decision in Morrison v. National Australia Bank Ltd. , 130 S... Read More

Pay to Play Rules for Placement Agents
Posted on 20 Jan 2011 by Doug Cornelius

The SEC imposed strict limitations on the ability of investment advisers to make political contributions when their clients include government bodies when it issued Rule 206(4)-5 . They don't want government investment decisions decided campaign... Read More

SEC Targets Use of Side Pockets by Hedge Funds
Posted on 28 Oct 2010 by Clint A. Keller

The Securities and Exchange Commission's Asset Management Unit has been investigating whether hedge fund managers have overvalued assets in "side pockets" and then charged investors higher fees based on those inflated values. A side pocket... Read More

Is Too Big to Fail Becoming Too Small to Succeed?
Posted on 8 Feb 2011 by Thomas O. Gorman

Too big to fail has been a favorite theme on Capital Hill since the market crisis began. Throughout the debates which produced the most comprehensive financial reform bill since the 1930s, now known as Dodd-Frank, a key point of concern was preventing... Read More

Dodd-Frank: New Authority for SEC Enforcement
Posted on 20 Jul 2010 by Thomas O. Gorman

As SEC Enforcement savors its settlement in Goldman and continues to retool into a new and more aggressive program, Congress is giving it new tools. The Dodd-Frank Wall Street Reform and Consumer Protection Act has a number of provisions which enhance... Read More

Cadwalader Clients & Friends Memo: SEC Adopts Dodd-Frank Act Investment Adviser Rules and Delays
Posted on 30 Jun 2011 by Cadwalader, Wickersham & Taft LLP

During an open meeting on June 22, 2011, the Securities and Exchange Commission (the "SEC") approved the adoption of new rules under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), as mandated by Title IV of the... Read More

Dodd-Franks, The SEC and Executive Compensation
Posted on 3 Aug 2010 by Thomas O. Gorman

Prior articles have reviewed the provisions of Dodd-Frank which focus on SEC Enforcement ( here ) and rule making ( here ). Other provisions of the Act impact the Commission's authority regarding executive compensation. In part, these are discussed... Read More

The First Attack on the Accredited Investor Standard
Posted on 3 Aug 2010 by Doug Cornelius

Many of the provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act merely provide for future regulatory framework. That it is in part true for the changing definition of "accredited investor" under the Securities Act... Read More

The View from the Board in the Wake of Dodd-Frank
Posted on 2 Nov 2010 by Thomas O. Gorman

Dodd-Frank has been described as the most comprehensive overhaul of the financial regulatory system since the great depression. Since it was crafted to address the most significant market crisis since the one which spawned the Federal Securities Laws... Read More

Dodd-Frank Wall Street Reform Act Includes Immediate Change to Securities Act of 1933 "Accredited Investor" Definition for Natural Persons
Posted on 2 Aug 2010 by K & L Gates LLP

by Kristy T. Harlan and Vincent J. Pisano On July 21, President Obama signed the Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). A change to the definition of "accredited investor" under the Securities Act of 1933... Read More

Podcast: The SEC and Investment Advisory Reform under Dodd-Frank Wall Street Act with Jonathan Eisenberg, Colleen Mahoney and Mike Eisenberg
Posted on 11 Oct 2010 by Corporate and Securities Law Community Staff

On this edition, Jonathan Eisenberg, General Counsel of UBS Wealth Management Americas, Colleen Mahoney of Skadden Arps and Professor Meyer "Mike" Eisenberg, Visiting Professor of Law at Willamette University College of Law, discuss the Dodd... Read More