On 25 July 2024, the Institutional Limited Partners Association ("ILPA") published guidance (the "Guidance") on the use of net asset value ("NAV") facilities. The Guidance specifically applies to private equity funds and does...more
Who may be interested: Registered Investment Companies; Boards of Directors; Investment Advisers - Quick Take: The staff of the SEC’s Division of Investment Management (“Staff”) has published a new report entitled...more
During an open meeting on Wednesday, August 23, 2023, the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) voted 3-2 along party lines to adopt new rules (collectively referred to as the “Private Funds...more
Since Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long term investment funds (ELTIF Regulation) was adopted, only a few European long-term investment funds (ELTIFs) have...more
On July 29th, 2021, the Alternative Rates Reference Committee (the “ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate (“SOFR”) term rates. According to the ARRC, this...more
The Pennsylvania Superior Court, the state’s mid-level appellate court, recently held in Kornfeind v. New Werner Holding Co., 2020 PA Super 266, that Pennsylvania’s “borrowing statute” applies only to foreign statutes of...more
If your work involves civil litigation in Wisconsin, you’ve likely run across Wis. Stat. § 893.07, the state’s borrowing statute, which governs the application of foreign statutes of limitations to cases filed in Wisconsin....more
The Indiana Department of Financial Institutions (Department) has issued its Questions & Answers (Q&A) related to upcoming changes in various statutes administered by the Department that become effective as of July 1, 2018. ...more
As summer recedes and we head into the autumn, investment advisers are in the home stretch of preparations for Form ADV reporting and disclosure changes that become effective October 1, 2017. The amendments, which were...more
Debt collectors filing suit often assume that the forum state’s statute of limitations will apply. However, a string of recent cases suggests that may not always be the case. The Ohio Supreme Court recently determined that,...more