News & Analysis as of

Securities Finance & Banking

Read need-to-know updates, commentary, and analysis on Securities issues written by leading professionals.

SFC (the “Commission”) Expresses Concern over Irregularities in Asset Management Activities

•The Commission has identified a number of regulatory concerns with respect to private funds and discretionary accounts, in particular, funds with concentrated, illiquid and interconnected investments. •The Commission has...more

SEC Adopts Exhibit Hyperlink Requirement

by Holland & Knight LLP on

•The U.S. Securities and Exchange Commission has adopted amendments (final rules) that will require registrants to include hyperlinks to exhibits. •The final rules apply to certain periodic reports under the Securities...more

SFC Proposes Rules and Code for Open-Ended Fund Companies

by Dechert LLP on

Recently, the Hong Kong Securities and Futures Commission (SFC) published a consultation paper on the Securities and Futures (Open-ended Fund Companies) Rules (Rules) and Code on Open-ended Fund Companies (Code) which, if...more

The Fed's Small BHC Policy Statement—Regulatory Relief for Bank Growth and Acquisitions

by Jones Day on

The Small Bank Holding Company ("BHC") Policy Statement ("Policy Statement") was adopted by the Federal Reserve in 1980 to facilitate transfers of small banking organizations, including BHCs formed to assume individuals' bank...more

SEC Report Asserts Cryptocurrency Tokens Are Securities Under US Law

by Morgan Lewis on

The SEC’s published report of its first investigation focused on tokens sold in the context of an ICO sets the framework for future token offerings and raises red flags and legal hurdles to the resale or transfer of...more

Not a Token Gesture: Compensating Service Providers with Virtual Property

by Morrison & Foerster LLP on

Questions surrounding the use of virtual currencies and other digital tokens (“tokens”) as compensation came to the forefront last month following formal guidance from the U.S. Securities and Exchange Commission (“SEC”) on...more

U.S. Withholding on Synthetic Trades over U.S. Equities—Further Delay of Full Implementation Until 2019 (Notice 2017-42)

In response to perceived abuses in taxpayers’ use of swaps and other derivative transactions (e.g., options, futures or forwards) to avoid withholding tax on U.S. source dividends, Congress added Section 871(m) to the...more

Private Company Liquidity Programs

Nasdaq Private Market reports increased activity in private company liquidity programs. Companies that are choosing to stay private longer are using structured and controlled liquidity as a recruitment and retention tool,...more

2017 EY Survey Reports Steady Increase in Voluntary Audit-Related Disclosures

by WilmerHale on

In its sixth annual report on voluntary audit committee reporting to shareholders, Ernst & Young observed “similar increases in voluntary audit-related disclosure as in the past several years, with steady growth in certain...more

Orrick's Financial Industry Week In Review

On August 8, 2017, the Federal Reserve Board and Federal Deposit Insurance Corp. extended the deadline for 19 foreign banks and two domestic bank holding companies to file their next round of "living wills" detailing how they...more

Court Holds That Former Broker Did Not Owe Fiduciary Duties To Client Regarding An Investment

by Winstead PC on

In Holmes v. Newman, the plaintiff made an investment in a start-up internet company that provided betting tips to gamblers for a fee. No. 01-16-00311-CV, 2017 Tex. App. LEXIS 6177 (Tex. App.—Houston [1st Dist.] July 6, 2017,...more

This Week in FCPA-Episode 66, the Take a Stand Edition

by Thomas Fox on

Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including:   1. The SEC charges KPMG and partner with blown oil and gas company audit. 2. BSRG raises its...more

The easiest mistake most 401(k) plan sponsors make

by Ary Rosenbaum on

The road to hell is paved with good intentions and that’s how I feel when it comes sometimes to what a 401(k) plan sponsor does. Yet, there is an error that too many 401(k) plan sponsors do that the Department of Labor (DOL)...more

ICI Requests Delay and Re-Examination of Liquidity Risk Management and Reporting Modernization Rules

by Dechert LLP on

In a letter to U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton, the Investment Company Institute (ICI) formally requested a delay and re-examination of certain elements of Rule 22e-4 under the Investment...more

SEC Issues Risk Alert To Improve Cybersecurity Readiness

by King & Spalding on

On August 7, 2017, the U.S. Securities and Exchange Commission (“SEC”) published a risk alert directed to the financial advisory industry, identifying cybersecurity vulnerabilities that could make the industry’s networks...more

DOL Fiduciary Rule Status Update for Fraternal Benefit Societies

by Stinson Leonard Street on

In papers filed as part of a lawsuit in the U.S. District Court for the District of Minnesota, the Department of Labor (DOL) has stated that they are considering a further delay of the effective date for full implementation...more

The Entrepreneurs Report - H1 2017

From the WSGR Database: Financing Trends for 1H 2017 - Strong median pre-money valuations for all rounds of financing ushered in nearly unprecedented median amounts raised in 1H 2017, particularly for Series C and later...more

The Sequel to the Global Financial Crisis Is Not the CLO! (Ok, Not Yet)

by Dechert LLP on

Last week, an article written by Mr. Frank Partnoy, professor of law at the University of San Diego, appeared in the Financial Times and was subsequently picked up by The Wall Street Journal. Mr. Partnoy argues that the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

We got our dose of Fed minutes yesterday, and it appears that the Fed—like the rest of us—is scratching its head over the “new reality” of concurrent low inflation and low unemployment. Fed officials are hoping that the low...more

They can’t see it, since they caused it

by Ary Rosenbaum on

A few years back, I had the worst call with a prospective client in the 19 years I have been an ERISA attorney. This 401(k) plan sponsor was like many prospective clients, poor participation and paying too much in fees....more

ESMA Publishes Responses to June 2017 Consultation on RTS Trading Obligations for Derivatives under MiFIR

On August 10, 2017, the European Securities and Markets Authority (“ESMA“), published responses to its June 2017 consultation on trading obligations for derivatives under the Markets in Financial Instruments Regulation...more

CFTC Case Updates: Settlement Highlights Agency’s New Premium on Cooperation; 7th Circuit Upholds Criminal Spoofing Conviction

On August 7, 2017, the Commodity Futures Trading Commission (CFTC or Commission) announced a settlement for a civil penalty of $600,000 with the Bank of Tokyo Mitsubishi UFJ, Ltd. (BTMU) for alleged spoofing violations, with...more

Compliance into the Weeds-Episode 50, Where's the Upside?

by Thomas Fox on

In this very topical episode Matt Kelly and I take a deep dive into the administration’s response to the events over the weekend in Charlottesville and what it means for business leaders, compliance practitioners and others...more

Day 12 of One Month to More Effective Continuous Improvement-Keeping Track of Current Events

by Thomas Fox on

In 2015, the Securities and Exchange Commission (SEC) announced resolution of a Foreign Corrupt Practices Act (FCPA) enforcement action involving the Hitachi Ltd (Hitachi). There were several interesting aspects to this...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As expected, Wells Fargo has promoted former Fed governor and current vice chair Elizabeth Duke to succeed Board chair Stephen Sanger. Incredibly, the move makes Duke the first woman to hold the top spot at one of the...more

17,460 Results
|
View per page
Page: of 699
Cybersecurity

Follow Securities Updates on:

"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 using*

Already signed up? Log in here

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