SEC Approves New Rules to Address Run Risks in Money Market Funds
Following an initial “soft” consultation with industry participants and relevant stakeholders, the Securities and Futures Commission (SFC) launched a three-month consultation on proposed amendments to the Code on Unit Trusts...more
Ninth Circuit Denies Rehearing of Northstar v. Schwab. On April 28, the U.S. Court of Appeals for the Ninth Circuit denied the petition of Schwab Investments’ (Schwab) for rehearing and rehearing en banc in the case of...more
In this issue: - Delaware Court of Chancery Upholds Forum Selection Provisions in Bylaws - CFTC Issues No-Action Letters - Portfolio Reconciliation and Swap Trading Relationship Documentation Requirements...more
In a bizarre twist to the case of the money market fund that broke the buck, the investment adviser to the Reserve Primary Fund (Reserve Fund) and its principals sued the fund’s independent trustees, laying the blame for the...more