News & Analysis as of September 20, 2024

European Union › Fiduciary Duty

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

ESG in 2024: Traps for the Unwary

Proskauer - The Capital Commitment on 4/1/2024

ESG continues to be a hot topic for 2024 for investors and regulators alike. The specific concerns investors and regulators have – and what they expect to develop over the coming months – differ, however, across...more

B2B, B2C, BVI – Crypto Disputes in the Caribbean

Conyers on 11/9/2023

In the crypto world, does it really matter where you are? Is there a sunny offshore paradise perspective on the click of a button and a fintech trade? The answer lies as usual in how to unravel a problem should it arise. Both...more

UK Court Opens Door to Cryptocurrency Software Developers Owing Fiduciary Duties to Users

Dechert LLP on 3/23/2023

In a recent judgment, the English Court of Appeal has opened the door to the possibility that cryptocurrency software developers may owe fiduciary duties to cryptocurrency users. These duties could have far-reaching...more

Is decentralised governance of bitcoin really a myth? The fiduciary duties of cryptoasset software developers is a serious issue...

White & Case LLP on 2/14/2023

"If the decentralised governance of bitcoin really is a myth, then in my judgment there is much to be said for the submission that bitcoin developers, while acting as developers, owe fiduciary duties to the true owners of...more

Does the SEC "Best Interest" Regulation Go Far Enough?

ArentFox Schiff on 8/1/2022

The US Securities and Exchange Commission (SEC) has adopted a new standard called Regulation Best Interest (Reg BI) that shifts the focus on protecting customers first and foremost. Although the regulation possibly puts...more

Guide to the ESGI

Barnea Jaffa Lande & Co. on 7/7/2022

The ESG Index (ESGI) represents the three key spheres that encompass responsible investments (or “green investments”)—Environmental, Social, and Governance. The responsible investments market has been rapidly gaining momentum...more

Left to their own devices: No duty arises between cryptoasset software developers / controllers and cryptoasset owners

White & Case LLP on 5/12/2022

In Tulip Trading Limited v Bitcoin Association for BSV, the High Court summarily dismissed Tulip's claim against certain bitcoin software developers and controllers. In doing so, the Court held that cryptoasset software...more

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2022

Latham & Watkins LLP on 1/6/2022

Environmental, social, and governance (ESG) considerations have come to the forefront of firms’ regulatory change agendas in recent years, and this focus looks set to continue in 2022. The past year has witnessed significant...more

The Dutch Decision on Shell’s Carbon Emissions – Should U.S. Companies Be Worried?

Foley & Lardner LLP on 6/25/2021

On May 26, 2021, a Dutch court ordered Royal Dutch Shell Plc (“Shell”) to cut its greenhouse gas emissions by 45% (from 2019 levels) by 2030. Shell had previously pledged to reduce its emissions by 20% (from 2016 levels) by...more

The European Commission Unveils New Sustainable Finance Package

Latham & Watkins LLP on 6/14/2021

The package focuses on material sustainability reporting and disclosure obligations, as the EU looks to direct capital toward sustainable activities. On 21 April 2021, one day prior to Earth Day and a US-led global...more

[Webinar] Trust & Estate Controversy Virtual Forum | Offshore Roundup - September 24th, 12:00 pm - 1:00 pm EDT

McDermott Will & Emery on 9/22/2020

Sarah Gabbai, Nicholas Holland, Lynsey McIntyre and Ziva Robertson will discuss recent vital regulatory and jurisprudential developments for international fiduciaries. The panel will discuss: - Reporting obligations...more

Acting Behind The Scenes: High Court Confirms Duties Of Shadow Directors

Morrison & Foerster LLP on 6/1/2020

In Standish & Ors v The Royal Bank of Scotland Plc & Anor (the “Judgment”), the High Court confirmed that the duties owed by a shadow director are limited to the subject matter of their instructions. This alert is...more

2019 Year in Review: Securitization Litigation and Regulation

Cadwalader, Wickersham & Taft LLP on 1/30/2020

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect. A...more

Financial Services Quarterly Report -Third Quarter 2019: GP-Led Secondary Transactions: Mitigating Risk of Regulatory Scrutiny of...

Dechert LLP on 10/22/2019

The secondary market has experienced rapid growth over the past decade, and that growth has been particularly fast in the last five years. The most striking feature of this growth is the general partner (GP)-led secondary...more

2019-20 Compliance Developments and Calendar for Private Fund Advisers

Akin Gump Strauss Hauer & Feld LLP on 10/7/2019

While the Securities and Exchange Commission (SEC) brought several enforcement actions in 2018-19, the most significant new developments were published interpretations and alerts. Other agencies, such as the Commodity Futures...more

Restructuring the next wave of cov-lite debt

White & Case LLP on 7/13/2019

Cov-lite loans can leave lenders with limited restructuring options, but creative lenders will still find ways to bring debtors to the table - Recent data shows that investor protection in loan documents has fallen to its...more

2018 Half-year in review: M&A legal and market developments

White & Case LLP on 1/11/2019

We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2018 and their impact on M&A transactions. This review looks at these...more

Investment Management Special Report - 2018-19 Compliance Developments & Calendar for Private Fund Advisers

Akin Gump Strauss Hauer & Feld LLP on 10/11/2018

Despite the new administration, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have both continued to make novel interpretations and to bring enforcement actions that break...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 7/11/2018

The world’s keeping a wary eye on Turkey’s economic well-being, especially given the precipitous drop in the value of the country’s currency (which has pushed up prices for consumers and corporations) and President Erdogan’s...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 5/4/2018

ESMA Asks European Commission to Clarify Scope of Exemptions from EMIR Financial Obligations - On April 27, 2018, the European Securities and Markets Authority ("ESMA") published a letter from Steven Maijoor, ESMA Chair,...more

Raising the Bar? SEC Proposes Broker-Dealer Standard of Care and Guidance on Investment Advisers’ Fiduciary Standard

A&O Shearman on 4/25/2018

On April 18, 2018, the U.S. Securities and Exchange Commission (“SEC”) took the long-awaited step of proposing rules, interpretations and guidance (the “Proposed Rules”) that would seek to enhance and clarify the standards of...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/21/2018

The European Commission has drafted a new set of digital taxes as an answer to last year’s US tax overhaul that imposed a new minimum tax on the overseas efforts of companies with US operations. The EU’s plan would require...more

Registered Firms: Annual Compliance Obligations—What You Need To Know

Pillsbury Winthrop Shaw Pittman LLP on 3/13/2018

This alert contains a summary of the primary annual and periodic compliance-related obligations that may apply to investment advisers registered with the Securities and Exchange Commission (the “SEC”) or with a particular...more

European Commission Launches Consultation on Investors’ and Managers’ Duties Regarding Sustainability

Orrick - Finance 20/20 on 11/22/2017

On November 13, 2017, the European Commission launched a public consultation on institutional investors’ and asset managers’ duties regarding environmental and social sustainability. The consultation is open for responses...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/15/2017

Financial transaction provider Euronet Worldwide’s made an unsolicited bid to acquire MoneyGram for about $1 billion in cash, throwing a wrench into Ant Financial’s plan to use MG as a way to break into the US market and...more

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European Union › Fiduciary Duty

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