News & Analysis as of

Mutual Funds Coronavirus/COVID-19

ArentFox Schiff

Investigations Newsletter: Pharmacy Retail Company Cleared of $121M Charges in Class Action Fraud Suit

ArentFox Schiff on

On June 23, 2021, CVS Pharmacy Inc. was cleared of claims of overcharging drug purchasers by more than $121 million for general drugs. This verdict comes after a week-long trial in the Northern District of California...more

Goodwin

OCC Proposes Rules for CRA Benchmarks and Fair Access

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

Carlton Fields

SEC Still Cool With Virtual Fund Board Meetings

Carlton Fields on

Mutual fund boards of directors need not meet in person to approve investment advisory contracts, Rule 12b-1 plans, or independent public accountants through December 31. ...more

Robins Kaplan LLP

Financial Daily Dose 8.31.2020 | Top Story: New Chinese Tech Law Threatens U.S. Bids for TikTok

Robins Kaplan LLP on

Whoever emerges as the victor in the competition for TikTok will have to contend with another complication—this time from China, where on Friday the country “updated its export control rules to cover a variety of technologies...more

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Reserve Liquidity Programs to Support US Economy During COVID-19 Pandemic — Highlights for Funds and BDCs

In response to the ongoing market turmoil created by the coronavirus/COVID-19 pandemic, the Federal Reserve has established a number of market stability and liquidity programs, many of which may be of interest to funds (both...more

Morgan Lewis

COVID-19: SEC Staff Permits Affiliates to Purchase Debt Securities from a Mutual Fund

Morgan Lewis on

The staff of the US Securities and Exchange Commission (SEC) has given registered open-end management companies (mutual funds) an additional tool in the wake of the coronavirus (COVID-19) crisis to combat the potentially...more

Vedder Price

SEC Issues Temporary Borrowing Relief for Mutual Funds and Insurance Company Separate Accounts

Vedder Price on

On March 23, 2020, the Securities and Exchange Commission (“SEC”) issued an exemptive order (the “Order”) providing relief from certain provisions of the Investment Company Act of 1940 (the “1940 Act”) and various rules...more

WilmerHale

COVID-19: SEC Grants Temporary Relief to Mutual Funds from Borrowing and Lending Restrictions

WilmerHale on

On March 23, 2020, the SEC issued an order (the “Order”) granting registered open-end funds and insurance company variable annuity separate accounts expanded capability to borrow from their affiliates to satisfy redemption...more

Mayer Brown

Fed support for at least short term ABCP markets looks quite promising

Mayer Brown on

The disruptions in economic conditions caused by the coronavirus disease 2019 (COVID-19) are reaching the commercial paper and longer term debt capital  markets.  The Board of Governors of the Federal Reserve System (Federal...more

Robinson+Cole Construction Law Zone

The Federal Reserve’s Powers to Pave the Way for Continued Development and Construction Through Covid-19

As the Coronavirus has encapsulated the world, government go-aheads to construction firms are welcome relief to the industry. Lenders’ collective reaction to the current economic concerns is another matter....more

Robins Kaplan LLP

Financial Daily Dose 3.19.2020 | Top Story: Second COVID-19 Relief Package Now Law But Market Chaos Remains

Robins Kaplan LLP on

Late action by the Senate to pass a second COVID-19 relief package (that the White House soon signed) may [key word may] help markets yo-yo back upward today after a dismal Wednesday driven by crazy-low oil prices (West Texas...more

Ballard Spahr LLP

SEC Division of Investment Management Issues Communication for Mutual Fund Boards

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Investment companies’ boards may have upcoming meetings that were planned anticipating in-person attendance, yet the spread of coronavirus (COVID-19) may alter travel plans. The Securities and Exchange Commission (SEC)...more

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