Legal updates for: trusts

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Consultation Begins Over Possible UK Corporate Governance Reform

by Dechert LLP on

...The Department for Business, Energy & Industrial Strategy (BEIS) has recently published a Green Paper on options for future corporate governance reform. The Government’s stated objective is to put in place “the right checks and balances within big business to strengthen decision-making and accountability”. ... more

United States v. Salman: Supreme Court Reaffirms “Friends With Benefits” Test In Insider Trading Cases

by Akin Gump Strauss Hauer & Feld LLP on

... December 6, 2016, in an opinion written by Justice Alito, the Supreme Court unanimously affirmed the Ninth Circuit’s decision in Salman v. United States, a closely-watched insider trading tipping case. Salman builds upon Dirks v. SEC, 463 U.S. 646 (1983), a landmark decision in insider trading law decided more than thirty years ago. In... more

Protecting an Interest in a Ground Lease – A Lender’s Perspective

by Poyner Spruill LLP on

... are often asked to provide financing secured by a leasehold interest in land evidenced by a ground lease. A ground lease is an agreement between the fee owner of real estate (the ground lessor or landlord) and its tenant (the ground lessee) in which the fee owner leases the land to the tenant. Ground leases are typically for a longer term than a... more

"Federal Regulator Signals Willingness to Grant National Bank Charters to Fintech Companies"

by Skadden, Arps, Slate, Meagher & Flom LLP on

... December 2, 2016, the Office of the Comptroller of the Currency (OCC) announced its willingness to entertain applications from financial technology (fintech) companies for special purpose national bank charters. In recent years, the fintech sector has attracted extraordinary interest from investors, institutions and innovators. For example, we... more

Fairmont: SCC Revises Common Law Test for Tax Rectifications

by Dentons on

...In a 7-2 decision in AG (Canada) v. Fairmont Hotels Inc., the Supreme Court of Canada has modified the common law test for rectification where the taxpayer has suffered an unintended and adverse tax result. The Court also clarified the standard of proof in respect of evidence of the parties’ intent on a rectification application.... more

Supreme Court Lowers Burden in Insider Trading Prosecutions

by Pierce Atwood LLP on

... December 6, 2016, the U.S. Supreme Court issued its first insider trading decision in nearly two decades unanimously affirming the Ninth Circuit and holding that an insider’s “gift” of confidential information to a “trading relative or friend” is sufficient to trigger insider trading liability under federal securities... more

Arbitration World

by K&L Gates LLP on

... the Editors - Welcome to this 33rd edition of Arbitration World. Following the United Kingdom’s referendum decision on 23 June to leave the EU, in this edition we examine how the uncertainty over the treatment of English court judgments by EU member state courts post-Brexit may shift the balance towards arbitration in London and... more

The Year In Review: SEC Enforcement Actions Against Investment Advisers

by K&L Gates LLP on

... Securities and Exchange Commission’s enforcement program is highly focused on investment advisers for an obvious reason: they manage more than $67 trillion in assets for approximately 30 million clients. In addition, because the SEC examines a far smaller percentage of investment advisers than broker-dealers, and there is no self-regulatory... more

Why A Plan Sponsor Should Get A Plan Review

by Ary Rosenbaum on

... plan sponsors tend to be reactive rather than pro-active. They would rather not spend money to undergo a plan review and assume everything is fine until they run into a big compliance issue or mistakes are discovered on a government audit. Like a good medical checkup, a plan review can discover and root out plan problems before they become bigger... more

The Supreme Court Reaffirms Dirks in Salman

by Dorsey & Whitney LLP on

...On December 6th, the U.S. Supreme Court handed down its first major decision on insider trading in over 20 years, and affirmed the conviction of Bassam Salman for violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b–5 thereunder. United States v. Salman, No. 15–628 (December 6, 2016). ... more

Global Financial Markets Insight - Issue 11, 2016

by DLA Piper on

... we come to the end of 2016 we re ect on a year characterised by events that have sent political shockwaves through the world’s major markets and consider what this may mean for the coming year. The surprise may be just how stable and resilient markets have been. The UK referendum decision in June to exit the EU, a continuing economic... more