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Entries tagged “regulatory”

Chinese Companies Listed on US Exchanges Must Disclose Potential Risk Associated with Potential Government Interference According to an SEC Official

im-report Chinese Companies Listed on US Exchanges Must Disclose Potential Risk Associated with Potential Government Interference According to an SEC Official Debbie A. Klis · July 27, 2021

On July 26, 2021, a senior U.S. Securities and Exchange Commission official, Allison Lee, advised that Chinese companies listed on U.S. stock exchanges must disclose the potential risks associated with the Chinese government interfering in their businesses, as part of their normal reporting requirements. The genesis of SEC’s comment is believed to be the recent…

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Alert to Broker-Dealers and Hedge Funds: SEC Charges Broker-Dealer with Naked Short-Selling Violations

im-report Alert to Broker-Dealers and Hedge Funds: SEC Charges Broker-Dealer with Naked Short-Selling Violations Debbie A. Klis · May 28, 2021

On May 19, 2021, the Securities and Exchange Commission (“SEC”) charged a broker-dealer, BTIG, LLC (“BTIG”), with repeatedly violating the (i) order-marking and (ii) locate provisions of Regulation SHO, in connection with more than 90 sale orders from a single hedge fund customer. Regulation SHO regulates short sales of securities and is aimed, in large…

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New York’s Legislative Solution for LIBOR Adopted

im-report New York’s Legislative Solution for LIBOR Adopted Debbie A. Klis · April 8, 2021

The New York State Legislature passed a statutory solution to reduce the risks associated with the transition away from USD LIBOR.  New York Senate Bill 297B/Assembly Bill 164B (the “NY Bill”), proposed by the Alternative Reference Rates Committee (“ARRC”) and sponsored by New York Senator Kevin Thomas, was designed to solve transition issues for legacy…

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“Family Office”? What’s In a Name: The Implosion Heard Around the (Financial Markets) World

im-report “Family Office”? What’s In a Name: The Implosion Heard Around the (Financial Markets) World Robin Powers · April 7, 2021

What Can We Expect from the Regulators? Robin Powers, Partner, Rimon, P.C. Archegos Capital Management’s collapse last week, and the resulting losses for several global banks, has and will impact financial markets for the foreseeable future. Regulatory efforts will likely focus on the ever-expanding shadow banking sector and shed light on its transparency (or lack thereof) and…

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Digital Asset Risk Alert

im-report Digital Asset Risk Alert Geoffrey Perusse · March 12, 2021

The SEC’s Office of Compliance Inspections and Examinations recently published a risk alert related to investment advisers managing Digital Assets for their clients, either directly or indirectly through pooled investment vehicles.  The risk alert makes it clear that digital assets create a number of unique compliance challenges that firms should consider. Based upon risks identified…

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SEC Announces Enforcement Task Force Focused on Climate and ESG Issues

im-report SEC Announces Enforcement Task Force Focused on Climate and ESG Issues Debbie A. Klis · March 10, 2021

On March 4, 2021, the SEC announced the creation of a Climate and ESG Task Force in the Division of Enforcement to led by Kelly L. Gibson, the Acting Deputy Director of Enforcement (the “Task Force“)  The Task Force’s purpose is to better police the market, pursue misconduct, and protect investors, according to Kelly L.…

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New IBOR Fallbacks Take Effect for Derivatives

im-report New IBOR Fallbacks Take Effect for Derivatives Debbie A. Klis · March 1, 2021

New fallbacks for derivatives linked to key interbank offered rates (IBORs) have come into effect ensuring a viable safety net is in place in the event an IBOR becomes permanently unavailable while firms continue to have exposure to that rate. The fallbacks, published by the International Swaps and Derivatives Association, Inc. (ISDA), will be incorporated…

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Global law firm Rimon PC welcomes Keith Munson as a Litigation Partner in its new South Carolina office

news Global law firm Rimon PC welcomes Keith Munson as a Litigation Partner in its new South Carolina office Keith Munson · February 16, 2021

Greer, South Carolina – Rimon is proud to welcome Keith Munson, a former federal and military prosecutor, as a litigation partner.  Mr. Munson lives in Greer, South Carolina and will be based out of the firm’s new South Carolina office. Mr. Munson joins the firm from Womble Bond Dickinson (US) LLP where he was a…

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Global law firm Rimon PC welcomes former federal prosecutor Jonathan Rosen as a White Collar, Regulatory, and Government Investigations Partner in Washington D.C. Office

news Global law firm Rimon PC welcomes former federal prosecutor Jonathan Rosen as a White Collar, Regulatory, and Government Investigations Partner in Washington D.C. Office Jonathan Rosen · February 8, 2021

Former AUSA and Deputy D.A. obtained first-ever FCPA conviction on alternative nationality provision Washington, D.C. – Rimon is proud to welcome former federal and state prosecutor and experienced regulatory focused litigator Jonathan Rosen, who has won over 100 trials, as a Partner in its Washington D.C. office. Mr. Rosen joins Rimon from Polsinelli where he was…

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SEC FINALIZES AMENDMENTS TO ADVISER ADVERTISING RULES

im-report SEC FINALIZES AMENDMENTS TO ADVISER ADVERTISING RULES Niccolo Barber · January 24, 2021

On December 22, 2020, the SEC amended the Investment Advisers Act of 1940, as amended, with respect to advertisements and payments to solicitors by investment advisers.[1] The amendments create a single rule (the “Rule”) that supplants the existing advertising and cash solicitation rules, marking the first time in more than 40 years that the SEC…

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