Asset Management

  • February 6, 2017

    10th Circ. Reassigns Fraud Suit From Outspoken Judge

    The Tenth Circuit has reassigned a real estate securities fraud case from a Colorado federal judge who handed down an erroneously high sentence for the second time and opined that Americans "do not take white collar crime seriously enough."

  • February 6, 2017

    Law Firms That Double-Billed For Staff Attys Face $2M Probe

    Three law firms that got $75 million in fees in a class action settlement against State Street Corp. may have to pay up to $2 million to have their own conduct investigated after they were caught pumping up the hours worked on the case, a Massachusetts federal judge said Monday.

  • February 6, 2017

    Fla. Wealth Manager Stole Our Name, Ariel Investments Says

    Lawyers for Ariel Investments LLC told an Illinois federal judge Monday that Florida wealth management firm Ariel Capital Advisors LLC violates trademarks on its name and puts its hard-won reputation at risk in an industry predicated on brand impressions.

  • February 6, 2017

    Real Estate Rumors: CL Investment, Burwell, InvenTrust

    CL Investment is said to have sold a 32.9 percent stake in a New York condo property for roughly $33 million, Burwell Enterprises reportedly paid $14.48 million for a Wisconsin hotel, and REIT InvenTrust is said to have paid about $163 million for two Florida malls.

  • February 6, 2017

    Cleary, Fried Frank Steer $450M Goldman-SL Green NYC Loan

    Cleary Gottlieb Steen & Hamilton LLP represented Goldman Sachs Mortgage Co. in connection with the firm's $450 million loan to Fried Frank Harris Shriver & Jacobson LLP-counseled real estate investment trust SL Green Realty Corp. for an office and retail property on Lexington Avenue in Manhattan, according to records made public in New York on Monday.

  • February 6, 2017

    House Dems Blast Trump Efforts To Scale Back Dodd-Frank

    Democratic lawmakers on Monday denounced President Donald Trump’s push to gut the Dodd-Frank Act and said they would do everything in their power to curtail Republican efforts to do so.

  • February 6, 2017

    No JPMorgan Discovery For Aozora As Timeliness Is Weighed

    A Manhattan trial judge refused Monday to let Aozora Bank Ltd. take discovery of J.P. Morgan Securities LLC to shore up Aozora's claim of being suckered into backing a collateralized debt obligation that tanked in the financial crisis, telling the parties he would rule on timeliness grounds.

  • February 6, 2017

    J.P. Morgan Loans $92M For San Diego-Area Mall

    J.P. Morgan Asset Management has loaned $92 million to a joint venture of United American Properties Inc. and World Premier Investments Inc. for a refinance of a San Diego, California-area grocery-anchored mall, according to an announcement on Monday from Holliday Fenoglio Fowler LP, which brokered the deal for the borrower venture.

  • February 6, 2017

    Ex-Banker Urges High Court To Review Whistleblower Status

    A former Morgan Stanley employee has urged the U.S. Supreme Court to consider whether he is entitled to classification as a whistleblower after reporting insider trading allegations against the bank to the FBI and not the U.S. Securities and Exchange Commission.

  • February 6, 2017

    Dodd-Frank Tinkering Risks Global Stability, EU Warns Trump

    President Donald Trump's intention to dismantle the Dodd-Frank Act risks unbalancing global regulation and threatens financial stability achieved since the banking crisis, the European Commission told Law360 on Monday.

  • February 3, 2017

    Bruising Fight For Fate Of Dodd-Frank Lies Ahead

    While President Donald Trump's order for a review of rules mandated by the Dodd-Frank Act doesn't have much bite when it comes to rolling back those policies, its real effect is to set the terms of what's likely to be a drawn-out battle for how financial firms are regulated.

  • February 3, 2017

    MF Global Customer Attys Must Redraw Fee Bid

    A New York magistrate judge on Thursday told attorneys for former customers of defunct commodities firm MF Global they aren’t entitled to a slice of fees from settlements for which they were already paid as they seek a final fee award from a global settlement.

  • February 3, 2017

    Gov't Pushes For $2.8M From Ex-Analyst For Insider Trading

    Federal prosecutors pressed a New York federal judge on Friday to hit convicted former investment analyst John Afriyie with a $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.

  • February 3, 2017

    AEW Closes Latest Seniors Housing Fund At $500M

    Real estate investment manager AEW Capital Management said it closed the third iteration of its senior housing investment fund, hitting its target and hard cap and raising $500 million from investors.

  • February 3, 2017

    Real Estate Rumors: Admiralty, NYC Penthouse, Hersha

    Admiralty Acquisition has reportedly sold a Florida office building for $18.53 million, a Manhattan penthouse is said to have been purchased for $38.9 million, and real estate investment trust Hersha Hospitality is said to have bought a Miami-area hotel for $24.63 million.

  • February 3, 2017

    2016’s Top 5 Activists And Their Biggest Plays Of The Year

    The year may have seen fewer headline-grabbing plays as activist investors returned to midmarket targets, but a handful of activists refused to shy away from challenging targets and racked up noteworthy successes, a recent study shows. Here, Law360 recaps 2016’s top activist investors and the campaigns that shaped their year.

  • February 3, 2017

    SEC Says Investment Adviser Bilked $4M In Ponzi Scheme

    The U.S. Securities and Exchange Commission filed a complaint against a Connecticut investment adviser on Thursday, alleging that its owners stole nearly $4 million from investors through a Ponzi scheme and used proceeds to repay personal loans and settle a lawsuit with a former employer.

  • February 3, 2017

    CORRECTED: Trump Orders Review Of Dodd-Frank And Fiduciary Rule

    President Donald Trump signed two executive orders Friday in first steps following through on promises to roll back financial regulations, directing a wide review of financial regulations aimed at rolling back the Dodd-Frank Act and ordering a delay of the U.S. Department of Labor’s fiduciary rule for retirement account advisers.

  • February 3, 2017

    Taxation With Representation: Cleary, Cooley, Skadden

    In this week's Taxation With Representation, Snap Inc. filed its long-awaited initial public offering, an Oklahoma natural gas company made plans to buy out the rest of its master limited partnership, and Keysight Technologies agreed to pay about $1.6 billion for data technology firm Ixia.

  • February 2, 2017

    Gorsuch Could Tip Scales Against SEC’s Admin Court

    U.S. Supreme Court nominee Judge Neil Gorsuch has called for firmly separating government powers and has expressed skepticism of rampant agency rulemaking, views experts say bode poorly for the U.S. Securities and Exchange Commission as its fight to keep its administrative tribunal approaches the high court.

Expert Analysis

  • SEC Actions Against Investment Advisers In 2016: Part 2

    Jon Eisenberg

    In the second installment of this three-part series, Jon Eisenberg of K&L Gates LLP discusses nine different types of enforcement actions brought against investment advisers in 2016, including those related to best execution, principal trades and agency cross trades, and insider trading.

  • SEC Actions Against Investment Advisers In 2016: Part 1

    Jon Eisenberg

    In the first part of this three-part series, Jon Eisenberg of K&L Gates LLP discusses the U.S. Securities and Exchange Commission's 2016 enforcement actions related to conflicts of interest, fees and expenses, and trade allocations.

  • Are Courts In The Discovery Driver’s Seat?

    Cristin K. Traylor

    I recently asked a panel of four federal court judges whether they expect courts to start taking a more active role in e-discovery. They answered with a resounding yes. However, their responses left me wondering whether courts are actually taking a more active role in discovery since the Federal Rules of Civil Procedure amendments took effect in December 2015, says Cristin Traylor of McGuireWoods LLP.

  • Salman Insider Trading Case A Hollow Win For Prosecutors

    Michael Guttentag

    The dominant narrative about Salman v. U.S., the first insider trading case decided by the U.S. Supreme Court in almost 20 years, is that it was a big win for federal prosecutors. That is only part of the story, says professor Michael Guttentag of Loyola Law School.

  • Reputation Management Tips For Asset Managers

    Greg Marose

    Traditional and alternative asset managers need to consider how they will navigate possible enforcement actions under a first-of-its-kind administration that will want to meet the expectations of an anti-establishment base. Now more than ever, mitigating the headline risk associated with regulatory issues is essential, says Greg Marose of Edelman.

  • Fund Liquidation Insurance: A Few Points To Consider

    Neil A. Torpey

    Some private equity and similar investment funds are using fund liquidation insurance rather than holdbacks during windups to cover back-end risks and to enable the efficient distribution of a fund’s proceeds to investors. Attorneys with Paul Hastings LLP offer a primer on such policies and some alternatives.

  • A Practical Assessment Of The 'Universal Proxy Card' Plan

    Gail Weinstein

    Adoption of the proposed rule changes that would require the use of “universal proxy cards” in contested director elections now appears improbable, and in any event, would not have a significant effect on contested proxy elections or activist situations, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Rules Of Civil Procedure Updates Affect E-Discovery

    Patrick Reilly

    On Dec. 1, 2016, the annual updates to the Federal Rules of Civil Procedure went into effect. Revisions include the end of the three-day “mail rule” extension for electronically served discovery, an amendment regarding service of internationally based corporate defendants, and a technical change regarding venues in maritime law actions, say Patrick Reilly and Eldin Hasic of Faegre Baker Daniels LLP.

  • The Path To The California Bench

    Judge George F. Bird

    Ever consider applying for a judicial appointment in California? Get the lay of the land from Judge George Bird of the Los Angeles Superior Court and Kimberly Knill, a senior appellate court attorney for the California Court of Appeal. Additionally, hear what several recent appointees to the LA Superior Court thought of the judicial selection process.

  • CFTC Rulemaking In The Waning Days Of The Obama Era

    Jason P. Gottlieb

    Like many other governmental bodies, the U.S. Commodity Futures Trading Commission may be headed for a shake-up under the new presidential administration in January 2017. Recent proposals in three different areas suggest that the Obama CFTC has decided that its time to act has run out, says Jason Gottlieb of Morrison Cohen LLP.