Asset Management

  • February 14, 2017

    Investment Firm DLB Seeks $8M In Suit Over Sour Acquisition

    A lawsuit seeking roughly $8 million over accusations that Swisher Heating and Air Conditioning reneged on a contract to sell its business and real property to venture capital- and private equity-focused asset manager DLB Capital Management LLC was removed to Oregon federal court on Monday.

  • February 14, 2017

    Morgan Stanley Pays $8M, Admits Wrongdoing Over ETFs

    Morgan Stanley’s brokerage arm agreed to pay an $8 million penalty and admit wrongdoing to settle allegations that it failed to ensure clients understood the risks associated with purchasing single inverse exchange-traded funds, the U.S. Securities and Exchange Commission said Tuesday.

  • February 14, 2017

    Morgan Keegan Award Ruling Unfair, Investor Tells 11th Circ.

    An investor seeking to overturn an arbitration award against wealth manager Morgan Keegan & Co. Inc. told the Eleventh Circuit that he was denied an opportunity to show bias by the Ford & Harrison LLP arbitrator after the appeals court reversed an initial ruling in his favor in March.

  • February 14, 2017

    Feds Seek 5 Years For Banker Who Gave Dad Merger Tips

    A onetime investment banker at JPMorgan Chase & Co. who was convicted of leaking his father upcoming merger news so his dad could profit should be sentenced to five to six-and-a-half years in prison, federal prosecutors have argued in New York, saying the banker’s parental duties don’t merit a sharp deviation from guidelines.

  • February 13, 2017

    9th Circ. Skeptical UBS Account Suit Can Proceed In Calif.

    A Ninth Circuit panel appeared unconvinced Monday by a proposed customer class accusing UBS of illegally closing accounts and seizing funds, with two judges noting that the plaintiff’s argument for imposing jurisdiction over the foreign bank flouted U.S. Supreme Court precedent.

  • February 13, 2017

    Valeant, Ackman Ink Allergan Litigation Management Deal

    Valeant Pharmaceuticals International Inc. and William Ackman’s hedge fund Pershing Square Capital Management have agreed to split litigation costs in a putative class action over an alleged insider trading scheme in 2014’s Allergan takeover bid, according to a filing made Monday with the U.S. Securities and Exchange Commission.

  • February 13, 2017

    Mnuchin Wins Confirmation As Treasury Secretary

    The U.S. Senate approved President Donald Trump’s choice for treasury secretary Monday night amid ongoing partisan fights over the president’s Cabinet and a brewing political storm over financial regulations and tax policy.

  • February 13, 2017

    FINRA Seeks Input On Rollback Of Investment Projection Ban

    The Financial Industry Regulatory Authority published a regulatory notice Friday inviting public comments on a proposed rule change that would let broker-dealers use hypothetical investment projections to show prospective or current clients how a strategy could pan out.

  • February 13, 2017

    Ex-Galleon Trader Gives Up $7.3M For Insider Trading Scheme

    Former Galleon Group LLC trader Zvi Goffer agreed to cough up $7.3 million in the insider trading case that put him behind bars for 10 years on charges that he paid two former Ropes & Gray LLP lawyers for market-moving tips, according to a proposed order filed in New York federal court Friday.

  • February 13, 2017

    Ontario Pension Board Inks $574M Bond, Its Largest Ever

    The Ontario Pension Board, the administrator of the Canadian province’s public service pension plan, on Monday said it raised CA$750 million ($574.4 million) through a 10-year bond, its largest to date, saying proceeds will boost its real estate returns and improve its long-term funded status.

  • February 13, 2017

    NFL Player Adviser Settles With SEC Over Unregistered Sales

    A former investment adviser for Morgan Stanley and Wells Fargo on Friday settled with the U.S. Securities and Exchange Commission over allegations he sold more than $5 million in unregistered, illiquid stock to NFL players while misrepresenting their investment returns and failing to disclose his financial stake in the deal.

  • February 13, 2017

    REIT Sunstone Hotel Sells Calif. Property For $125M

    Sunstone Hotel Investors Inc. has sold a Fairmont hotel in Newport Beach, California, for $125 million, according to an announcement on Monday from the Aliso Viejo, California-based real estate investment trust.

  • February 13, 2017

    Pamplona, Ascent Plug $100M Into New Biz Nova Sciences

    Pamplona Capital Management LLP and Ascent Venture Partners have agreed to inject $100 million into Nova Sciences Holdings LLC, a recently established entity formed to acquire and operate companies in a range of industrial sectors, the companies said Monday.

  • February 13, 2017

    ADT Insider Trader Must Pay Enhanced $2.8M Forfeiture

    Convicted former investment analyst John Afriyie must pay an almost $2.8 million judgment over his insider trading, more than a jury had earmarked and much more than the $1.5 million he netted on ADT Corp.'s go-private deal, according to an order filed in New York federal court Friday.

  • February 13, 2017

    Shareholder Activism On The Rise In Europe, Asia

    Shareholder activism is picking up steam in Europe and Asia, with both regions drawing more campaigns in 2016 as the investment strategy proves its effectiveness under different cultural and regulatory challenges, experts say.

  • February 13, 2017

    REIT Macerich's Board OKs $500M Share Repurchase

    The Macerich Co.'s board of directors has greenlighted a repurchase of as much as $500 million of the retail-focused real estate investment trust's shares, according to an announcement from Santa Monica, California-based Macerich on Monday.

  • February 10, 2017

    Ex-Jefferies Trader Seeks Acquittal On Sole Guilty Count

    Former Jefferies & Co. trader Jesse Litvak urged a Connecticut federal judge on Friday to acquit him on the one count of securities fraud for which he was convicted by a jury last month, arguing the government’s win was rooted to a “flimsy reed” of evidence.

  • February 10, 2017

    Senators Question Goldman's Influence On Trump's Orders

    Two Democratic U.S. senators on Thursday asked Goldman Sachs Group Inc. and its CEO to reveal the extent to which his company and its former president influenced President Donald Trump's recent executive orders aimed at relaxing banking and fiduciary regulations.

  • February 10, 2017

    Senate To Vote Monday On Trump Treasury Pick Mnuchin

    The Senate is teed up for a final vote on Treasury Secretary nominee Steve Mnuchin, as President Donald Trump’s pick to lead the department cleared a key Senate hurdle early Friday.

  • February 10, 2017

    Pension Suit Over Yahoo Investment In Alibaba Again Tossed

    A California federal judge on Friday told a pension fund that he did not have the authority to revoke an exemption granted to Yahoo by the U.S. Securities and Exchange Commission that excepted the tech giant from registering as an investment company and, for the second time, dismissed its shareholder derivative suit. 

Expert Analysis

  • Missing Pension Plan Participants: Gone But Not Forgotten

    Benjamin F. Spater

    There are many practical challenges associated with the timely payment of benefits to participants, especially when individuals are unresponsive and presumed missing. Last year, both the U.S. Department of Labor and the IRS showed an increased interest in this area and the Pension Benefit Guaranty Corporation recently proposed regulations expanding its missing participants program, say Benjamin Spater and Susan Quintanar of Trucker Huss APC.

  • The Short-Swing Profit Rule And Its Impact

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    In this short video, Eleazer Klein and Michael Swartz of Schulte Roth & Zabel LLP address how short-swing profit litigation is affecting hedge funds and talk about recent cases brought against fund managers.

  • FINRA Is Ready To Focus On 'Blocking And Tackling'


    The preliminary data for 2016 indicates that last year was a record-setting year for Financial Industry Regulatory Authority fines. To try to prevent 2017 from setting similar records, firms may want to adjust their defensive line, say attorneys with Eversheds Sutherland (US) LLP.

  • Hart-Scott-Rodino Considerations For 2017

    Alycia Ziarno

    Fiscal year 2016 ended with a record $12.85 million in civil penalties imposed for alleged violations of the Hart-Scott-Rodino Act, dwarfing the $3.8 million assessed the previous year. And companies and investors face the possibility of higher maximum civil penalties if they violate the HSR Act in FY 2017, say Alycia Ziarno and Brian Whittaker of Nixon Peabody LLP.

  • Can Federal Agencies Reverse Course Under Trump?

    Steven D. Gordon

    The next four years will see litigation that explores the extent to which the Trump administration can alter or reverse the regulatory policies of the Obama administration without having to enact new legislation. The U.S. Supreme Court has recently made clear that there are fewer limits to an agency changing course than had previously been thought, says Steven Gordon of Holland & Knight LLP.

  • Defining Corporate Criminal Liability For Insider Trading

    John Anderson

    The current enforcement regime is absurdly overbroad in that it affords no principled guarantee to corporate victims of insider trading that they will not be indicted or punished for the crimes perpetrated against them. However, there is one form of derivative corporate criminal liability that does make sense, says John Anderson of Mississippi College School of Law.

  • Opinion

    The Myth Of The Forceful Mediator

    Jeff Kichaven

    When mediators rely on force to get cases settled, it doesn’t work. It’s time to suggest more productive ways for top-gun litigators and top-flight mediators to engage, says Jeff Kichaven of Jeff Kichaven Commercial Mediation.

  • Key Takeaways From FINRA’s 2017 Priorities Letter

    Peter W. LaVigne

    The compliance issues described in the Financial Industry Regulatory Authority’s 2017 priorities letter will apply differently at different firms, but a good place for any firm to start would be regular testing of internal supervisory controls, followed by testing of the firm’s cybersecurity controls, says Peter LaVigne of Goodwin Procter LLP.

  • A Derivatives Trader's Compliance Checklist

    Philip T. Hinkle

    The first two months of 2017 present several new regulatory deadlines potentially affecting all asset managers that trade derivatives subject to U.S. regulation. In this article, Philip Hinkle and Audrey Wagner of Dechert LLP focus on these deadlines and several developments implicating regulations already in effect.

  • Bitcoin Users Should Expect More IRS And DOJ Scrutiny

    Mark Milton

    As the value of a bitcoin hovers near $1000, holders of the digital currency may be celebrating. But bitcoin users face new scrutiny from federal authorities. The IRS' quest for information on users of the Coinbase bitcoin exchange service is part of a joint effort with the U.S. Department of Justice to pursue tax evaders, says Mark Milton of Husch Blackwell LLP.