... at: evan.koster@hoganlovells.com © Emerald Group Publishing Limited 2013 Commodity Futures Trading Commission Clearing Interest rate swaps Credit default swaps United States of America Financial management Interest rates Credit Futures markets On December 13, 2012, the US Commodity...

... collateral United States of America Financial management The Dodd‐Frank Wall Street Reform and Consumer Protection Act (“Dodd‐Frank”) mandated segregation of customer collateral for both cleared and uncleared swaps. In implementing the segregation requirement with respect to cleared swaps...

... Commodity Futures Trading Commission Commodity pool operators Registered investment companies Disclosure Recordkeeping Reporting Financial management United States of America In connection with the recent adoption of amendments to Commodity Futures Trading Commission Rule 4.5 [1] , the CFTC has...

... of introducing stricter controls. Securities and Exchange Commission Regulation Financial services United States of America Emerging growth company Initial public offering Financial disclosure Financial management © Emerald Group Publishing Limited 2012 Richard J. Parrino can be contacted...

... of America Financial management The Financial Industry Regulatory Authority (“FINRA”) and its predecessor, the National Association of Securities Dealers, Inc. (the “NASD”), have long sought to maintain investor confidence in the capital raising and public offering process, in part, by restricting...

... fiduciary standard. Jessica Forbes can be contacted at: jessica.forbes@friedfrank.com © Emerald Group Publishing Limited 2011 Investors Financial management Legal advice On January 21, 2011, the Securities and Exchange Commission (“SEC”) released the study (the “Fiduciary Study...

... is independent of the Commission. The ALJ issues an initial decision that includes findings of fact, legal conclusions and, at times, sanctions. Brian L. Rubin can be contacted at: brian.rubin@sutherland.com © Emerald Group Publishing Limited 2009 Litigation Financial institutions Financial...

... States of America Capital markets Regulation Financial management On March 31, 2008, the US Department of Treasury (“Treasury”), as part of its efforts to improve the competitiveness of the US capital markets, issued its Blueprint for a Modernized Financial Regulatory Structure...

... concerning any specific situation. © Emerald Group Publishing Limited 2008 Unit trusts Hedging Private finance Financial management Non‐SEC‐registered investment managers that do not currently have formal internal compliance guidelines in place should consider adopting compliance...

... be contacted at: brian.fahey@terranua.com © Emerald Group Publishing Limited 2008 Regulation Financial management Compliance costs Risk management While it is unclear in which direction regulation will evolve, it is reasonable to suggest that firms that take a pro‐active approach...

.... This has led the industry to consult with Her Majesty's Revenue and Customs (HMRC) and the UK Treasury on the application of the IME, which resulted in the revised Statement of Practice 01/01, published on July 20, 2007. Investments Taxation Off shore investments Financial management United...

... that such information includes not only information about corporate issuers but also nonpublic information about the adviser's securities recommendations, and client securities holdings and transactions [27] . © Emerald Group Publishing Limited 2007 Insider trading Financial management When...

... are uncovered. Insider trading Acquisitions and mergers Financial management In the midst of a surge of corporate mergers and acquisitions, a market that is breaking records daily, increasing scrutiny of hedge fund activities, and a vocal chorus of critics of industry regulators for their pursuit...

... Material regarding certain aspects of the rule [2] . © Emerald Group Publishing Limited 2007 Financial management Financial institutions The amendments became effective on November 8, 2006 [3] . Prior to the amendments, the best execution rule applied to a member's...

... about securities within or from the state of New York [7] . The definition of investment adviser does not include: © Company 2006 Fund management Financial management Investments The D.C. Court of Appeals' June 2006 decision in Goldstein v. Securities and Exchange...

... penalty. © Emerald Group Publishing Limited 2005 Financial management Corporate finances Banks United States of America A number of wrongdoings and financial failures plagued corporate America in 2002 – Enron, Arthur Anderson, Global Crossing, and WorldCom to mention just a few...

... of the background and remaining issues related to the SEC's 2005 Final Rule on application of the Adviser's Act to broker‐dealers offering certain non‐traditional brokerage programs. © Emerald Group Publishing Limited 2005 Securities markets Financial management Legislation Section 202(a)(11)(C...

... February 1, 2006, it is expected that this practice will also be one of a number of marketing focus points for SEC examiners. © Emerald Group Publishing Limited 2005 Financial management Legislation Financial markets On October 26, 2004, the US Securities and Commission (“SEC...