General Business Securities Finance & Banking

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.
News & Analysis as of

SEC Issues Guidance on Business Continuity Planning for Registered Investment Companies

The Securities and Exchange Committee (SEC) staff published Guidance Update 2016-04, concerning business continuity plans regarding companies within a “fund complex.” By “fund complex” the staff means an affiliated group of...more

OCIE By the Numbers and the Use of Big Data

On October 17, 2016, Marc Wyatt, the Director of the SEC’s Office of Compliance, Inspection and Examinations, gave a keynote address to the National Society of Compliance Professionals titled: Inside the National Exam Program...more

IRS Issues Final and Temporary Debt-Equity Regulations Under Section 385

On October 13, 2016, the Treasury Department and the Internal Revenue Service issued final and temporary regulations under section 385. The final and temporary regulations recharacterize certain debt instruments as equity for...more

Investment Management Update - October 2016

Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more

SEC Exhibit Hyperlink Proposal Excludes Investment Companies

The Securities and Exchange Commission (SEC) has proposed that filings on Securities Act registration form types beginning with “S-” and “F-”, or on the basic Securities Exchange Act reporting forms, provide hyperlinks to...more

Watching the Detectives: The SEC Launches a Dedicated FINRA Oversight Unit

The SEC has launched a dedicated team to oversee FINRA, according to remarks by Marc Wyatt, Director of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”). Congress has vested the SEC with the power to...more

Mutual Fund Sales by Intermediaries – Fall-Out from DOL Fiduciary Rule and FINRA Enforcement

Mutual fund sales and distribution arrangements are once again under review. It has been reported that fund intermediaries are re-examining their practices relating to sales charges, share class structures and product...more

Additional SEC Guidance on Pay Ratio Disclosure

As issuers prepare for the pay ratio disclosures that will be required with respect to fiscal years beginning on or after January 1, 2017, the Division of Corporation Finance issued new Compliance & Disclosure Interpretations...more

SEC Adopts Final Rules Regarding Intrastate and Regional Offerings

On October 26, 2016 at an open meeting, the SEC adopted final rules regarding intrastate and regional offerings, which closely follow the SEC’s proposed rules issued on October 30, 2015. The final rules amend Securities Act...more

Transactions Update: Purchase Price or Compensation

Purchase Price v. Compensation - ..Companies are choosing to stay private significantly longer than the vesting period for stock options ..Recent proposals by private companies to buy back stock from current and...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

EMIR – Revised List of CCPs and New Rules to Mitigate Risks in Non-Cleared OTC Derivative Transactions ESMA updated its list on 29 September 2016 of third-country central counterparties recognised to offer services and...more

Application of New Debt-Equity Regulations to Securitizations

On October 13, 2016, Treasury and the IRS issued new final and temporary “anti-inversion” regulations under section 385 of the Internal Revenue Code that could treat certain purchasers of notes issued by securitizations as...more

AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial

In its 2010 opinion in Jones v. Harris, L.P., the United States Supreme Court embraced the so-called Gartenberg standard for assessing an investment adviser’s fiduciary liability for excessive mutual fund fees under Section...more

CFTC Extends Exemptions of RTO Energy Products to Bar Private Rights of Action

The CFTC quelled a controversy that had emerged regarding its proposed exemption of certain specified energy products transacted in Regional Transmission Organizations (RTO) by doing a “180” on its proposals that otherwise...more

SEC Exams Looking for Whistleblower Violations

SEC staff in the Office of Compliance Inspections and Examinations are examining compliance with key whistleblower provisions arising out of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The staff is...more

Compliance into the Weeds-Episode 16-SOX reporting & disclosure controls and COSO Framework unity [Video]

In this episode, Matt Kelly and I discuss the differences between SOX 404 reporting controls and 302 disclosure controls. We then pivot to a discussion of the potential merging of the COSO 2013 Framework for controls with the...more

"CFTC Proposes Rules to Count Cross-Border Swaps for Swap-Dealer Thresholds and Other Requirements"

The CFTC’s newly proposed rules on cross-border transactions address which swap activities affect swap-dealer thresholds and trigger transaction-level swap requirements. These are the latest in a series of CFTC rulemakings,...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

FCA Publishes Third MiFID II Consultation Paper - The FCA published its third consultation paper on 29 September 2016, on the implementation of the Markets in Financial Instruments Directive (MiFID II)....more

UK Market Abuse Regime Extends Its Reach: Implications for Issuers

Companies trading on either the London Stock Exchange’s Main Market or AIM should ensure that their systems and procedures reflect changes to their disclosure and other obligations arising from the implementation of the new...more

Financial Services Quarterly Report - Third Quarter 2016: DIFC Funds: 2016 and Beyond

The Dubai International Financial Centre (DIFC) is a financial free-zone located in Dubai with its own established set of laws and regulations as well as a financial regulator and court system. Established in 2004, the DIFC...more

Your Daily Dose of Financial News

The weekend’s business news was dominated by the word that AT&T has agreed to buy Time Warner for $85.4 billion in the biggest yet in a series of telecomm mergers....more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Luxembourg VAT authorities: Circular on VAT Treatment of Director Services - The Luxembourg VAT authorities published Circular n° 781 on 30 September 2016 regarding the VAT treatment of director services and a...more

Recent Amendments to the Foreign Investment Regulations in China

China has been quite successful in encouraging foreign investments since the Sino-Foreign Equity Joint Venture Enterprise Law was promulgated in the beginning of the country’s economic reform in 1979. With the passage of...more

FINRA Announces Effective Date of New Capital Acquisition Broker Rules

FINRA has announced the adoption of the new Capital Acquisition Broker (CAB) rules. CABs, which will be able to act as brokers for merger and acquisition transactions and agents in private placements to institutional...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - CTFC Approves Proposed Rules Addressing Application of Certain CEA Regulations to Cross-Border Transactions - On October 11, 2016, the U.S. Commodity Futures Trading Commission...more

6,132 Results
View per page
Page: of 246

Follow General Business Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.