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Investment Management Registration Requirement

Dechert LLP

Labour Party Manifesto: Key Tax Points for Investment Managers

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The Labour Party Manifesto for the election on 4 July 2024 has now been published. Our key tax takeaways from the manifesto for the asset management sector are as follows:.....more

Conyers

Registering Private Funds with CIMA

Conyers on

All Cayman entities that fall within the definition of “private fund” in the Private Funds Act (2021 Revision) are required to register with the Cayman Islands Monetary Authority (CIMA)....more

King & Spalding

Department of Labor Finalizes Changes to QPAM Exemption

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Investment managers who manage private employee benefit plan and individual retirement account (collectively, “Plan”) assets have long relied on Prohibited Transaction Class Exemption 84-14 (commonly referred to as the “QPAM...more

Baker Donelson

Tennessee's Rule Shift for Private Fund Advisers' Registration

Baker Donelson on

Effective December 25, 2023, Tennessee Rule 0780-4-3-.05 was amended to include a new exemption to registration requirements for investment advisers under Tenn. Code. Ann. § 48-1-109 (the Amended Rule). In the past, advisers...more

Mayer Brown Free Writings + Perspectives

A New Federal Exemption from Broker Registration for Qualifying M&A Brokers Became Effective on March 29, 2023 (Prior SEC...

Although the New Federal Exemption Is Generally Aligned with the SEC’s 2014 No-Action Relief, There Are Some Notable Differences. Moreover, State Law Registration Requirements for M&A Brokers Are Not Preempted. ...more

Pullman & Comley, LLC

Congress Enacts Statute Exempting “M&A Brokers” From Registration as Brokers or Dealers

Pullman & Comley, LLC on

Effective March 29, 2023, certain small business brokers will be exempted from registering with the Securities and Exchange Commission (the SEC). The new law was signed into effect on December 29, 2022, as part of the...more

Akin Gump Strauss Hauer & Feld LLP

CFTC Adopts Bad Actor Disqualifications for CPO Exemptions

- A CPO will be prohibited from claiming an exemption from registration under CFTC Regulation 4.13 if it or any of its principals has in their backgrounds a statutory disqualification under the Commodity Exchange Act. - A...more

Dechert LLP

The Next Generation of Private Equity Funds in Asia: Hong Kong’s Proposed Limited Partnership Fund

Dechert LLP on

The Hong Kong government on 20 March 2020 published the Limited Partnership Fund Bill ("Bill") which provides for a new limited partnership regime for private funds ("LPF") in Hong Kong.1 As we see a greater number of fund...more

Dechert LLP

Financial Services Quarterly Report - Fourth Quarter 2019: New Limited Partnership Regime for Private Equity Funds in Hong Kong

Dechert LLP on

The Hong Kong Financial Secretary announced in his 2019-20 Budget speech that the government was seeking to establish a limited partnership regime for funds (LPF), in order to facilitate industry development while maintaining...more

Akin Gump Strauss Hauer & Feld LLP

CFTC and NFA Year End Regulatory Updates

• Effective January 1, 2020, clarifying amendments to rules regarding communications with the public and use of promotional material will go into effect. • Effective February 1, 2020, CTA will be subject to new limitations...more

Pillsbury Winthrop Shaw Pittman LLP

Securities Law Guidance for Qualified Opportunity Funds (QOFs)

On July 15, 2019, the Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) staff issued a statement summarizing federal and state securities law considerations...more

Allen Matkins

SEC: QOF Interests Are Typically Securities

Allen Matkins on

Yesterday, the staffs of the North American Securities Administrators Association (NASAA) and the Securities and Exchange Commission (SEC) issued a statement describing the "opportunity zone" program created by the Tax Cuts...more

Akin Gump Strauss Hauer & Feld LLP

Updated: The Practical Impact of the Government Shutdown for Private Parties

The new 116th Congress convened on Thursday, January 3, 2019 as the partial government shutdown, carrying over from the prior Congress, continued into the new year and has now outlasted previous shutdowns. Although the...more

Proskauer Rose LLP

Broker-Dealer Beat - December 2017

Proskauer Rose LLP on

Unbundling research and execution costs for money managers subject to MiFID II means that US broker-dealers can expect to receive hard dollars or other separately identified payments for research, at least from EU managers....more

Troutman Pepper

Treasury Report Addresses Regulatory Approaches Affecting Investment Companies and Their Advisers

Troutman Pepper on

As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more

Dechert LLP

SFC Proposes Rules and Code for Open-Ended Fund Companies

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

Orrick, Herrington & Sutcliffe LLP

New lending opportunities for EU Alternative Investment Funds in Italy

On 23 December 2016, the Bank of Italy supplemented the regulation on the collective investment management (the "Regulation") which, inter alia, implements article 46-ter of Legislative Decree. n. 58/1998 ("Consolidated...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

FHFA Issues Final Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets - On December 13, 2016, the Federal Housing Finance Agency (FHFA) issued a final rule implementing the Duty to Serve provisions...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

ESMA Consults on Guidelines on Disclosure of Information on Commodity Derivatives Markets or Related Spot Markets under MAR - On March 30, the European Securities and Markets Authority ("ESMA") opened a public...more

K&L Gates LLP

SEC Proposes Rules for Reporting Separately Managed Accounts on Form ADV and Revised Recordkeeping Rules

K&L Gates LLP on

On May 20, 2015, the U.S. Securities and Exchange Commission (“SEC”) proposed amendments to Part 1A of Form ADV in three areas: to collect information regarding separately managed accounts (“SMAs”) and additional information...more

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