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1 month ago | 
jdsupra.com | Christine Lombardo |John O'Brien |Christine Ayako Schleppegrell
SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome accompanying “net” illustrations.
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1 month ago | 
jdsupra.com | Ethan Johnson |Christine Lombardo |Erin Martin
SEC staff issued no-action guidance on Rule 506(c) of Regulation D private securities offerings on March 12, 2025, which should provide issuers with an easier path to rely on Rule 506(c) and solicit and advertise their private investment funds to investors in the United States. Regulation D, which is a safe harbor from the registration requirements of the Securities Act of 1933, is commonly used by issuers who conduct private offerings in the United States.
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1 month ago | 
morganlewis.com | Christine Ayako Schleppegrell |Christine Lombardo |Steven Stone |John O'Brien
SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome accompanying “net” illustrations.
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1 month ago | 
morganlewis.com | Christine Lombardo |Erin Martin |Christine Ayako Schleppegrell |John O'Brien
SEC staff issued no-action guidance on Rule 506(c) of Regulation D private securities offerings on March 12, 2025, which should provide issuers with an easier path to rely on Rule 506(c) and solicit and advertise their private investment funds to investors in the United States. Regulation D, which is a safe harbor from the registration requirements of the Securities Act of 1933, is commonly used by issuers who conduct private offerings in the United States.
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Nov 21, 2024 | 
morganlewis.com | Christine Lombardo
Partner Christine Lombardo was quoted in a Hedge Fund Law Report article discussing the US Department of the Treasury’s Financial Crimes Enforcement Network’s final anti-money laundering (AML) rules.
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Jul 30, 2024 | 
morganlewis.com | James E. Doench |Steven Stone |Amy Natterson Kroll |Christine Lombardo |John O'Brien |Christine Ayako Schleppegrell | +2 more
In an unusual move, on July 26, 2024, the Securities and Exchange Commission (SEC) stayed an order that was previously issued by its own Division of Trading and Markets just one week earlier on July 19, 2024.
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Jul 30, 2024 | 
lexology.com | James E. Doench |Steven Stone |Amy Natterson Kroll |Christine Lombardo |John O’Brien |Christine Ayako Schleppegrell | +2 more
In an unusual move, on July 26, 2024, the Securities and Exchange Commission (SEC) stayed an order that was previously issued by its own Division of Trading and Markets just one week earlier on July 19, 2024.
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Jun 7, 2024 | 
morganlewis.com | Christine Ayako Schleppegrell |John O'Brien |Christine Lombardo |Timothy Levin
In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US Securities and Exchange Commission (SEC) in August 2023. The Rules, which were challenged by a group of private fund industry associations (petitioners), would have substantially overhauled the private investment fund industry.
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Jun 6, 2024 | 
morganlewis.com | Christine Lombardo |Christine Ayako Schleppegrell
Partners Christine Lombardo and Christine Ayako Schleppegrell were quoted in an Ignites article that discussed an appeals court’s decision to overturn a US Securities and Exchange Commission (SEC) rule that would have enacted mandatory disclosures for private funds, curbed certain practices, and banned others.
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Jun 5, 2024 | 
morganlewis.com | Christine Lombardo
Partner Christine Lombardo was quoted in a Compliance Week article that discussed a unanimous decision by the US Court of Appeals for the Fifth Circuit to vacate the US Securities and Exchange Commission’s (SEC’s) private fund adviser rule. “Despite the ruling, private fund advisers would be wise to consider some of the guidance the SEC provided in thinking about best practices going forward, including as it relates to disclosures and the allocation of expenses,” said Christine.
