Fairness & Solvency Opinions Shouldn't Be Overlooked Amid Restructuring Wave
Episode 1: Chris Mercer Interview on Marketability Discount: Part 1
Episode 11: Mediating Business Valuation Disputes: Conversation with Arthur Rosenbloom
On February 7, 2023, the Securities and Exchange Commission’s (SEC) Division of Examinations (EXAMs) announced its 2023 Examination Priorities (the “Priorities”), which highlight areas it expects to target in 2023...more
The US Securities and Exchange Commission (SEC) Division of Examinations recently released its 2023 Examinations Priorities, a yearly report that provides insight into the Division’s areas of focus to improve compliance,...more
The SEC’s Division of Examinations last week announced its 2023 “examination priorities.” The division’s annual announcement of priorities provides valuable insight into the categories of registrants most likely to be the...more
In a welcome change in approach to financial market regulation, the United Kingdom’s Financial Conduct Authority (FCA) is requiring market participants to deliver good outcomes for consumers. On July 27, 2022, the FCA...more
The mortgage bond indenture (herein called a “Mortgage”) under which many electric and gas utility companies in the United States issue debt securities (herein generically called “bonds”) may be one of the most unloved...more
In this Issue. The federal bank regulatory agencies announced that the temporary change to the supplementary leverage ratio for depository institutions will expire as scheduled on March 31, 2021; the Small Business...more
On December 3, 2020, the U.S. Securities and Exchange Commission (the “SEC”) voted to adopt new Rule 2a-5 (the “Fair Value Rule”) under the Investment Company Act of 1940 (the “1940 Act”), which addresses the valuation...more
On December 3, 2020, the Securities and Exchange Commission (SEC) adopted new rule 2a-5 ("Rule 2a-5") under the Investment Company Act of 1940, as amended ("1940 Act") addressing valuation practices and the board of...more
On Dec. 3, the Securities and Exchange Commission (SEC) adopted a new rule (Rule 2a-5) under the Investment Company Act of 1940 (the 1940 Act) that establishes an updated regulatory framework for fund valuation oversight...more
New Rules, Proposed Rules, Guidance and Alerts - PROPOSED RULES - SEC Proposes New Fair Valuation Framework for Registered Funds - Under the Investment Company Act of 1940, securities held by a fund for which...more
On April 21, 2020, the Securities and Exchange Commission (SEC) voted to propose Rule 2a-5 under the Investment Company Act of 1940 (1940 Act) setting forth a new framework for funds’ fair value determinations (Proposed Rule)...more
In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more
INTRODUCTION - - Valuation procedures are important - Improper valuation can harm the fund and individual shareholders who are purchasing or redeeming fund shares, can also impact fee and performance calculations, and have...more
On June 13, 2013, without admitting or denying the allegations, eight former directors of five mutual funds agreed to settle SEC charges that they failed to satisfy their fair valuation responsibilities under federal...more