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...
The reorganization or liquidation of most types of companies is governed in the United States by a single federal law—the US Bankruptcy Code (the “Bankruptcy Code”). As a result, no...
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...
On September 30, 2008, the SEC Office of the Chief Accountant and the FASB staff issued a joint press release (“Joint Press Release”) aimed at providing financial statement users, pre...
As reported in previous Davis Polk communications, the SEC’s emergency orders requiring large institutional investment managers to report short sales in Section 13(f) securities on Form...
Under an SEC Emergency Order effective today, all institutional investment managers that are Form 13F filers for the calendar quarter ended June 30, 2008, will be required to file each we...
