The SEC’s Division of Examinations has recently issued a risk alert regarding the revised Marketing Rule (Rule 206(4)-1). The compliance date for the Marketing Rule is November 4, 2022 (Compliance Date). As of the Compliance Date, investment advisers may no longer choose to comply with the previous advertising and cash solicitation rules. Registered investment advisers,…

The Committee on Foreign Investment in the United States (“CFIUS”) is an interagency committee chaired by the Secretary of the Treasury that screens certain foreign investments or acquisitions of U.S. businesses or real estate to determine if they could impair US national security. If CFIUS determines that it has jurisdiction and that a transaction raises…

A few notes from the recently held American Bar Association Business Law Section Annual meeting, where we heard from two key decision-makers from the Securities and Exchange Commission: First, last Wednesday, Hester Peirce, a Commissioner from the U.S. Securities and Exchange Commission spoke at the Blockchain, Cryptocurrencies and Investment Management Task Force Meeting. I was…

Rimon attorneys Rodrigo Castillo Cottin, Ana Maria Lopez and Alejandra Becerra have co-authored the Colombia chapter of Chambers and Partners Private Wealth 2022 guide. The guide provides detailed analysis of the latest private wealth legal developments in Colombia, with a specific focus on recent and upcoming tax reform, and how it could impact businesses, investors,…

Germany’s amended Verification Act catapult the country back into the Middle Ages The latest amendments introduced by the German Federal Ministry for Labor (BMAS) to the “Nachweisgesetz“/NachweisG will transform Germany back into the age of hard copies and wet ink. The law to amend the act on notification of conditions governing an employment relationship came into…

On 27 July 2022, the Federal Cabinet passed the revised draft German Whistleblower Act (HinSchG). In early April 2022, we reported about the delayed activities of the German Government to implement the EU directive 2019/1937 into national law. Now – at last – the German Government has passed the Bill and after the summer break…

A ballot measure to tax vacant apartments in San Francisco – the “Empty Homes Tax” – acquired enough signatures to be certified for the November 2022 ballot.  If passed, the measure would take effect in 2024 and would apply to residential buildings with three or more units.  In the first year, any unit that sits…

The 6th edition of German Banking Law Handbook, “Bankrechts-Handbuch” (Ellenberger / Bunte, Beck-Verlag), was recently published. Rimon Partner Bernd Geier co-authored §§ 83, 84, a section dedicated to capital markets and finance law. Read more on the Beck-Verlag website.   Bernd Geier is a partner focused on finance, regulatory law, and funds. His practice covers…

A unanimous Supreme Court on June 13 determined that 28 U.S.C. §1782 (“Section 1782”) does not permit United States courts to order discovery for foreign or international “private adjudicatory bodies”.  ZF Auto. US, Inc. v. Luxshare, Ltd., No. 21-401, 2022 WL 2111355, *3 (2022)(“ZF Automotive Decision”).  Rather, the Supreme Court held that Section 1782 only…

The Department of the Treasury recently held its inaugural conference on the Committee on Foreign Investment in the United States (CFIUS). During this conference, various government officials emphasized the expanding role of CFIUS with respect to performing national security screenings of foreign investments in U.S. businesses and real estate. CFIUS is particularly interested in ensuring…