LITIGATION
Two Decisions Highlight Uncertainty of Section 10(b) Liability
SEC Sanctions Ram Capital for Violating Broker Registration Requirements
SEC, Perry Capital Settle Disclosur...
On July 15, 2009, the Treasury Department released the proposed Private Fund Investment Advisers Registration Act of 2009 (the “Act”), which would implement portions of the financial ...
In response to the turmoil that rippled through money market funds and credit markets last fall when the Reserve Primary Fund’s net asset value fell below $1.00 or “broke the buck,”...
Pay-to-play arrangements involving payments to intermediaries to influence public pension fund investment decisions have recently come to the fore on a number of fronts:
New York Stat...
On May 5, 2009, the SEC charged a bond salesman and a hedge fund manager with insider trading involving credit default swaps (“CDS”). The case, the first ever involving insider tradin...
On March 26, 2009, SEC Chairman Shapiro testified before the Senate Committee on Banking, Housing and Urban Affairs with regard to SEC objectives for investor protection enhancement and s...
As discussed in the February 18, 2009 Davis Polk Corporate Regulatory Report, SEC Chairman Mary Schapiro recently spoke at the annual “SEC Speaks” conference and indicated her priorit...
In late January, members of Congress introduced two bills that could greatly affect private funds and their managers. Senators Chuck Grassley (R-IA) and Carl Levin (D-MI) proposed “The ...
On December 30, 2008, the SEC Office of the Chief Accountant and Division of Corporation Finance issued a report to Congress on mark-to-market accounting standards as provided by FAS 157,...
Prominent hedge fund managers were among those who testified before the House Committee on Oversight and Government Reform (the “Committee”) on November 13, 2008, in a hearing aimed a...
