Searching Content indexed under Financial Services by Skadden, Arps, Slate, Meagher & Flom (UK) LLP ordered by Published Date Descending.
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Neuberger Berman Alleges Saba Capital Violating 1940 Act To Win Proxy Fights; Saba Investors On Notice, Should Consider Own Duties
As recently noted, Saba Capital Management, L.P. (Saba) has begun to escalate its attacks on the closed-end fund asset class, at the expense of retail fund shareholders
United States
22 Aug 2019
The FCA's First Antitrust Decision: "When Market Chatter Becomes Collusion"
Financial Conduct Authority (FCA) officials who were involved in the FCA's first competition decision, Anti-Competitive Conduct in the Asset Management Sector, shared their views on the case at a Skadden-moderated Q&A session on July 2, 2019.
16 Aug 2019
Another Mutual Fund Adviser Prevails At Trial In Excessive Fee Case
On July 31, 2019, Judge George H. Wu of the U.S. District Court for the Central District of California released tentative findings of fact and conclusions of law
United States
16 Aug 2019
HKEx's Latest Rule Amendments To Crack Down On Backdoor Listing And Shell Activities
On 26 July 2019, The Stock Exchange of Hong Kong Limited (HKEx) published conclusions to its consultation paper regarding backdoor listings, continuing listing criteria
Hong Kong
6 Aug 2019
Ninth Circuit Holds Cftc Dodd-Frank Enforcement Authority Allows Fraud-Only Claims
On July 25, 2019, the Ninth Circuit reinstated the Commodity Futures Trading Commission's (CFTC) lawsuit in CFTC v. Monex Credit Co.,1 interpreting the CFTC's Dodd-Frank enforcement
United States
5 Aug 2019
Managing Compliance Risks For Income Share Agreements
Counsel Austin Brown and Darren Welch take a look at educational income share agreements, an increasingly popular alternative to traditional student loans that ties students' repayment obligations to their future earnings.
United States
26 Jul 2019
SDNY Rules In Favor Of Mutual Fund Adviser, Dismisses Excessive Fee Claim
In an opinion unsealed on July 3, 2019, Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York granted summary judgment to a mutual fund adviser and dismissed
United States
23 Jul 2019
D.C. Circuit Upholds Federal Pay-To-Play Rule
On June 18, 2019, the U.S. Court of Appeals for the District of Columbia Circuit dismissed a challenge to FINRA pay-to-play Rule 2030 brought by the New York Republican State Committee and the Tennessee Republican Party.
United States
8 Jul 2019
Activists Take Another $290 Million Bite Out Of Vulnerable Closed-End Fund Asset Class
On June 14, 2019, Saba Capital Management, L.P. (Saba) entered into three standstill agreements with Invesco Advisers, Inc.
United States
2 Jul 2019
Delaware Court Precludes Creditors Of Limited Partnership From Pursuing Derivative Claims
In several cases since the seminal 2011 Delaware Supreme Court decision CML V LLC v. Bax, which held that creditors of Delaware
28 Jun 2019
Recent Developments In The Enforceability Of Make-Whole Premiums In The Second Circuit
In March 2019, Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern District of New York ruled that lenders using clear and unambiguous language in their loan agreements
United States
28 Jun 2019
SEC Adopts Rules And Interpretations Related To Standards Of Conduct For Broker-Dealers And Investment Advisers
On June 5, 2019, the SEC voted to adopt a package of rules and interpretations related to standards of conduct for broker-dealers and investment advisers
United States
14 Jun 2019
UK Government Proposes Preferential Status For Certain Taxes In Insolvencies
The U.K. government is proposing to reintroduce preferential status to certain taxes in U.K. insolvencies beginning 6 April 2020.
11 Jun 2019
Two Additional Presidential Candidates Subject To Federal Pay-To-Play Rules
In a recent mailing we noted that the following Democratic presidential candidates are covered under federal pay-to-play rules (i.e., SEC 206(4)-5, MSRB G-37, CFTC 23.451 and FINRA 2030) because they are currently elected state or local officials running for federal office:
7 Jun 2019
Second Wave Of Opportunity Zone Guidance Addresses Many Key Issues, Leaves Open Questions For Future Guidance
The Treasury Department and the Internal Revenue Service (the IRS) recently issued a second set of proposed regulations concerning the taxation of qualified opportunity zone funds
United States
5 Jun 2019
UK Financial Conduct Authority's First Antitrust Penalty: Sharing Pricing Intentions On IPOs Or Share Placements With Rival Asset Managers Is Illegal
The U.K. Financial Conduct Authority (FCA) has issued its first antitrust decision since obtaining competition law powers four years ago. The decision is a controversial one. It sets the FCA
17 May 2019
CFTC Signals Foreign Corrupt Practices Investigations
On March 6, 2019, the Commodity Futures Trading Commission's (CFTC or Commission) Division of Enforcement (Division) published an advisory on self-reporting and cooperation for violations of the Commodity Exchange Act.
17 May 2019
US Supreme Court Construes Scope Of Immunities In Jam
In the global economy, companies increasingly interact with "international organizations," or institutions created by treaty ...
United States
17 May 2019
Commodity Exchange Act Liability For Smart Contract Coders
The Commodity Futures Trading Commission (CFTC) is considering how smart contract applications on the blockchain implicate its jurisdiction and enforcement authority.
17 May 2019
CFTC Proposes Sweeping Swap Reporting Amendments Aimed At Improving Data Accuracy And Completeness
On April 25, 2019, the Commodity Futures Trading Commission (CFTC or Commission) published for public comment proposed amendments to the rules governing swap data repositories (SDRs)
16 May 2019
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