Asset Management Law360 provides breaking legal news and analysis on the asset management industry. Coverage includes litigation, policy developments, and corporate deals involving investment firms, mutual funds, hedge funds, bond funds, pension funds, and real estate investment trusts.
When Newport Global Advisors needed to restructure a $500 million fund and HarbourVest Partners had to seal deals like its purchase of a $1.9 billion fund manager from Bank of America Corp., they turned to Debevoise & Plimpton LLP’s Andrew Ahern, whose continuing relationships with big clients landed him among the five asset management attorneys under 40 honored by Law360 as Rising Stars.
Recent remarks made by U.S. Securities and Exchange Commission Chairman Jay Clayton suggest an enforcement approach that will consider factors beyond impact on the specific victims. Clayton’s remarks also signal that the SEC may proceed with caution on cybersecurity enforcement as it relates to public companies, says Lou Mejia, former SEC chief litigation counsel now with Perkins Coie LLP.
British financial regulators set out plans on Wednesday to broaden rules holding senior managers at banks and insurers accountable for misconduct inside their firms to encompass other financial services, including asset managers and brokers.
U.S. Securities and Exchange Commissioner Michael Piwowar filed a public comment letter with the U.S. Department of Labor on Tuesday blasting its Obama-era rule requiring retirement advisers to act in their clients’ best interests.
The U.S. Securities and Exchange Commission said on Tuesday that “initial coin offerings” that issue digital tokens in exchange for money or digital currency may be subject to regulation under federal securities laws, warning that its approach to enforcement would be guided by “economic realities” instead of the labels businesses use.