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Investment Products

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Chalk one up for big Carl (and Darwin).  Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Meet ZTE (well, meet them again.  We’ve discussed them before), the massive Chinese electronics maker banned last month by the White House from using US-made components that could well be the “first casualty of the high-tech...more

SEC Proposes Enhanced Investment Adviser and Broker-Dealer Standards of Conduct

On April 18, the Securities and Exchange Commission (SEC) proposed a trio of rules and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers (IAs) and...more

Investors Make Big Bets on Diagnostics in Q1 2018

Two trends stood out in our analysis of private digital health investments in the first quarter of 2018: bigger deals and more investment in companies targeting the regulated portion of the health care market....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Facebook isn’t the only tech stock having a good week. Amazon—helped along by its booming cloud business—more than doubled its net income in Q1 as compared to a year ago....more

Orrick's Financial Industry Week In Review

SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships with Investment Professionals - On April 18, the Securities and Exchange Commission voted to propose a package of...more

SEC Proposes New Broker-Dealer Best Interest Standard

by Stinson Leonard Street on

Last Wednesday, the Securities and Exchange Commission (SEC) proposed a new set of rules under the Securities and Exchange Act of 1934 (Proposed Rules) that would establish a new "best interest" standard by which...more

SEC Proposes a “Best Interest” Standard for Broker-Dealers

On April 18, 2018, the Securities and Exchange Commission proposed a set of rules and interpretations regarding the standard of conduct that broker-dealers owe to their investing customers, and reaffirming and clarifying the...more

SEC Proposes New Standards Of Conduct For Broker-Dealers And Investment Advisers

by Carlton Fields on

On April 18, the SEC voted four to one to propose new standards of conduct for broker-dealers (BDs) and investment advisers (IAs)....more

SEC Proposes Regulation Best Interest for Broker-Dealers

The SEC has proposed two rules and an interpretation to address retail investor confusion about the relationships that they have with investment professionals and the harm that may result from that confusion....more

Regulatory Alert - La Commission des sanctions de l'AMF précise l'étendue du devoir d'information à la charge des CIF

Où la Commission des sanctions rappelle une fois de plus que le distributeur est autant responsable que le producteur de la documentation précontractuelle....more

NAIC Disclosure Developments

by Carlton Fields on

Annuity Illustration Standard Changes: On March 2, the Annuity Disclosure (A) Working Group of the National Association of Insurance Commissioners agreed to recommend the adoption of a revision to the NAIC’s Annuity...more

Another Bout in the NAIC Best Interest Standard Title Fight

by Carlton Fields on

In response to the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group’s (Suitability WG) proposed revisions to the "Suitability and Best Interest Standard of Conduct in Annuity...more

Enforcement of DOL’s New Best Interest Contract Exemption’s Anti-Arbitration Condition is Enjoined

by Carlton Fields on

A number of lawsuits have been brought challenging aspects of the United States Department of Labor’s "fiduciary rule," which expanded the definition of "fiduciary" of an employee benefit plan or individual retirement account...more

FINRA Requires Order Taker Registration

by Carlton Fields on

In late 2017, FINRA pronounced in Regulatory Notice 17-30 that, "Beginning on October 1, 2018, unregistered persons cannot accept an order from a customer under any circumstances. ...more

Investment Adviser Fee Table on the Table

by Carlton Fields on

On February 7, the Massachusetts Securities Division asked for public comment on a fee table requirement for Massachusetts-registered investment advisers....more

SEC Targets Variable Insurance Products

by Carlton Fields on

Once again, the SEC’s Office of Compliance Inspections and Examinations (OCIE) has made variable insurance products an exam priority....more

Implementation Delay and Q&As for Fund Liquidity Rule

by Carlton Fields on

On February 21, the SEC approved a six-month extension for mutual funds to comply with the classification (bucketing) requirements and related elements of its new liquidity rule....more

When Innovation Meets Regulation: InsurTech and State Licensing Laws

by Carlton Fields on

The rise of InsurTech — which brings technological innovations to the business of insurance — is having a significant impact on the insurance industry, including through advancements in cybersecurity tools, the introduction...more

SEC Issues Cybersecurity Disclosure Guidance

by Carlton Fields on

On February 21, the SEC published interpretive "Guidance" to help public operating companies prepare disclosures about cybersecurity risks and incidents. ...more

Regolamento Intermediari e Relazione sui Servizi

Il 15 febbraio 2018, la CONSOB ha emanato la delibera n. 20307 (“Delibera 20307”) che ha disposto l’abrogazione della precedente delibera n. 16190 del 29 ottobre 2007 così ridefinendo il nuovo regolamento in materia di...more

Plaintiffs’ Notice That the ‘Taxman Cometh’ Was Sufficient to Trigger Statute of Limitations

by Carlton Fields on

In a November 16, 2017 ruling, a California appellate court affirmed a summary judgment ruling in favor of several financial advisors, and insurer American General Life Insurance Company, holding that plaintiffs’ fraud and...more

CAFA’s Local Controversy Exception Requires Class Claims Against Local Defendant

by Carlton Fields on

As we previously reported, in September 2017, a federal district court in Louisiana dismissed with prejudice as time-barred putative class action RICO and state racketeering claims related to alleged wrongful conduct by an...more

Health Care Investors Beware: U.S. Attorney Sues Private Equity Firm For Portfolio Company’s Alleged Billing Fraud

The U.S. Attorney for the Southern District of Florida has recently decided to intervene in a lawsuit brought under the Federal False Claims Act and initiated by a whistleblower. The U.S. Attorney has filed his own...more

Corporate Insurance Newsletter – January 2018

by Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for January has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. Please...more

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Cybersecurity

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