Small Funds Content

On August 16, 2021, the European Commission published final regulatory technical standards (RTS) on the contractual recognition of stay powers under the European Bank Recovery and Resolution Directive (BRRD). Now that the RTS have been adopted and published in the Official Journal of...

On August 18, the Securities and Exchange Commission, pursuant to delegated authority, issued an order ("Order") disapproving the New York Stock Exchange's (NYSE) proposed rule change on maximum fees to be charged by member organizations for forwarding proxy and other materials to...

This memorandum catalogues significant ESG related developments that have occurred since the beginning of June. It references ICI memoranda that provide a more fulsome description of each matter. You can find all of these memoranda on our website in our ESG Resource Center.

On July 21, 2021, SEC Chair Gary Gensler made a speech at the American Bar Association Derivatives and Futures Law Committee Virtual Mid-Year Program. Gensler's speech highlighted the Securities and Exchange Commission's agenda regarding security-based swaps (SBSs). Highlights of the...

On July 29, the ARRC issued a formal recommendation for the use of forward-looking term SOFR rates as part of market transition from USD LIBOR. Most tenors of USD LIBOR will cease on June 30, 2023.

SEC Chair Gensler spoke at a Principles for Responsible Investment-hosted webinar, which was attended by Fiona Reynolds, Margarita Pirovska, and Sagarika Chatterjee of PRI. He indicated that staff is developing a mandatory climate risk disclosure rule proposal for the Commission's...

On July 22, 2021, the Chairman of the Senate Finance Committee, Ron Wyden (D-OR), along with six other Senate Democrats, reintroduced the "Encouraging Americans to Save Act" or EASA. Among other provisions, the bill would reform the Saver's Credit by making it a refundable tax credit...

The SEC's Division of Examinations has published a Risk Alert highlighting its observations from conducting twenty examinations focused on ensuring that, in connection with the investment advisers' fixed income principal and cross trades, the advisers: (1) made trades that were in the...