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Ropes & Gray LLP

SEC Defers Names Rule Compliance Date; Permits Rolling Compliance for Existing Funds

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On March 14, 2025, the SEC issued a release (the “Release”) that (i) for new funds, defers by six months the compliance date for amendments to Rule 35d-1 under the 1940 Act (the “Names Rule”) (described in a Ropes & Gray...more

A&O Shearman

Texas court upholds Biden administration’s rule on ESG Investing for ERISA fiduciaries

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In a recent decision by the U.S. District Court Northern District of Texas, Judge Matthew J. Kacsmaryk ruled that the U.S. Department of Labor’s 2022 Rule (the 2022 Rule) on environmental, social, and governance (ESG)...more

Morrison & Foerster LLP - Government...

Impacts to 8(a) Regulations in SBA’s New Final Rule

We continue our discussion of the Small Business Administration’s (SBA) recent final rule on various small business programs. We previously discussed SBA’s changes to the effect of recertifications under multiple award...more

Seward & Kissel LLP

New Restrictions on Investments into Chinese Entities: Considerations for Advisers, Private Funds, and Investors

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U.S. law has long subjected foreign investments into the U.S. to review and restriction by the Committee on Foreign Investment in the United States (“CFIUS”), but outside of economic sanctions programs, has typically not...more

Mayer Brown

US China Trade Monthly - December 2024

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As global economic and geopolitical environments enter a new era, companies need to continuously develop and adjust their coherent global business strategies to secure and further expand business opportunities in all markets...more

Torres Trade Law, PLLC

Outbound rule released; experts say regime could also impact U.S. companies

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The Treasury Department issued its final outbound investment rule, titled, “Provisions Pertaining to U.S. Investments in Certain National Security Technologies and Products in Countries of Concern.” According to Treasury,...more

DarrowEverett LLP

Fifth Circuit Puts the Brakes on SEC’s Private Fund Rules: What’s Next For Private Fund Advisers

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In a continuation of recent court decisions overturning the rulemaking authority of federal agencies, a recent decision by the U.S. Court of Appeals for the Fifth Circuit vacated the Securities and Exchange Commission’s (SEC)...more

Mayer Brown

Fifth Circuit Vacates Private Fund Adviser Rules

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On June 5, 2024, a three-judge panel of the Fifth Circuit Court of Appeals (the “Fifth Circuit”) unanimously vacated the rule adopted by the US Securities and Exchange Commission (the “SEC”) to enhance the regulation of...more

DarrowEverett LLP

SEC’s New Rules Give SPACs, Target Companies Much to Consider

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On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules relating to special purpose acquisition companies (“SPACs”). The new rules affect both initial public offerings (“IPOs”) for...more

White & Case LLP

SEC Adopts Final Private Fund Adviser Rules

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New rules are expected to have substantial impact on funds industry - On August 23, 2023, the Securities and Exchange Commission ("SEC") approved significant new rules applicable to advisers of private funds (the "Private...more

Sullivan & Worcester

SEC Adopts Highly Anticipated Private Funds Rules

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The U.S. Securities and Exchange Commission (the “SEC”) last week adopted highly anticipated new rules and amendments (the “Adopted Rules”) to the Investment Advisers Act of 1940, as amended (the “Advisers Act”), that will...more

Seyfarth Shaw LLP

An Early Glimpse into the SEC’s Private Funds Advisor Rule

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The Securities and Exchange Commission (SEC) has adopted the long awaited “Private Fund Adviser Rule” (the “PFA”). The proposed PFA was introduced on February 9, 2022 (“Proposed Rule”), and the SEC has been working with the...more

Foley Hoag LLP

Final Private Fund Adviser Rules

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On August 23, 2023, the Securities and Exchange Commission (the “SEC”) approved by a 3-2 vote a final rule enacting a series of wide-sweeping changes to the regulation of the private funds industry (the “Final Rule”). While...more

DarrowEverett LLP

What SEC’s Transparency Rule Means for Investors, Advisers and Funds

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Earlier this summer, we wrote about both new and amended rules proposed by the Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940 (the “Advisers Act”) regarding private funds, their advisers,...more

Morgan Lewis

Final Rule on Regulatory ‘Control’ Framework: What It Means for Financial Services Market Participants

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The Board of Governors of the Federal Reserve System (the Board) issued a much-anticipated final rule (Final Rule) on January 30 to amend and codify—in certain respects, for the first time—its framework for making...more

Stinson - Corporate & Securities Law Blog

CFIUS Excepted Investors: Canada, United Kingdom and Australia

On January 13, 2020, the U.S. Department of Treasury published final regulations relating to the Committee on Foreign Investment in the United States, or CFIUS.  The regulations implement the Foreign Investment Risk Review...more

Orrick, Herrington & Sutcliffe LLP

New CFIUS Rules – Eight Key Points

The Committee on Foreign Investment in the United States ("CFIUS") issued final regulations on January 13, 2020 to comprehensively implement the Foreign Investment Risk Review Modernization Act of 2018 ("FIRRMA") (the...more

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