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Jun 6, 2024 | 
lexology.com | Shusmita Chowdhury |Karl Paulson Egbert |David Lee |Addison Braendel |Daniel Cullen |Peter R. Matejcak | +3 more
In briefOn 5 June 2024, the United States Court of Appeals for the Fifth Circuit vacated the Private Fund Adviser rule ("Rule") in its entirety on the grounds that the SEC, in enacting the Rule, had exceeded its statutory authority. The Rule was adopted by the SEC in August 2023 and would have fundamentally changed the regulatory landscape for private equity funds and their investors.
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Dec 25, 2023 | 
lexology.com | Peter Chan |Gavin Meyers
Click here to watch the video. As we await the issuance of FINRA’s 2024 Report on Exam and Risk Monitoring Program, Baker McKenzie partner Peter Chan, a former Assistant Director of Enforcement at the SEC, sat down with Baker McKenzie counsel Gavin Meyers, a former Senior Counsel in the Office of General Counsel at FINRA, to reflect on FINRA’s activities over the past year.
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Sep 24, 2023 | 
globalcompliancenews.com | Karl Paulson Egbert |Gavin Meyers |Matthew Smith |Shusmita Chowdhury
In briefIn this update, we take high-level review of major issues faced by private fund managers investing across the globe. In August and September, private fund managers with U.S. investors faced the broadest expansion of SEC regulation since Dodd-Frank, while European managers worked through the details of ESG reporting.
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Sep 24, 2023 | 
globalcompliancenews.com | Karl Paulson Egbert |Gavin Meyers |Matthew Smith |Shusmita Chowdhury
In this update, we take high-level review of major issues faced by private fund managers investing across the globe. In August and September, private fund managers with U.S. investors faced the broadest expansion of SEC regulation since Dodd-Frank, while European managers worked through the details of ESG reporting.
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Sep 20, 2023 | 
lexology.com | Karl Paulson Egbert |Gavin Meyers |Shusmita Chowdhury |Zlatomira Simeonova |Kameron Hillstrom
In briefIn this update, we take high-level review of major issues faced by private fund managers investing across the globe. In August and September, private fund managers with U.S. investors faced the broadest expansion of SEC regulation since Dodd-Frank, while European managers worked through the details of ESG reporting.
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Sep 6, 2023 | 
blockchain.bakermckenzie.com | Gavin Meyers
On August 29, 2023, the D.C. Circuit Court of Appeals delivered the most recent blow to the SEC’s crypto crackdown with its ruling in Grayscale Investments, LLC v. SEC. The decision was a big win for Grayscale and a clear repudiation of the SEC’s handling of Grayscale’s (and, implicitly, others’) spot Bitcoin ETF application under the Administrative Procedure Act (“APA”). By way of background, in 2013, Gemini founders Tyler and Cameron Winklevoss first sought to launch a Bitcoin ETF.
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Sep 6, 2023 | 
lexology.com | Gavin Meyers
On August 29, 2023, the D.C. Circuit Court of Appeals delivered the most recent blow to the SEC’s crypto crackdown with its ruling in Grayscale Investments, LLC v. SEC. The decision was a big win for Grayscale and a clear repudiation of the SEC’s handling of Grayscale’s (and, implicitly, others’) spot Bitcoin ETF application under the Administrative Procedure Act (“APA”). By way of background, in 2013, Gemini founders Tyler and Cameron Winklevoss first sought to launch a Bitcoin ETF.
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Jul 27, 2023 | 
blockchain.bakermckenzie.com | Jennifer L. Klass |Amy Greer |Gavin Meyers |Aiden O'Leary
On July 13, 2023, Judge Analisa Torres of the United States District Court or the Southern District of New York issued an Order on competing motions for summary judgment in the closely followed litigation. As the first court decision to broadly address the question of whether a cryptocurrency itself is a security, as the SEC has maintained it is in most circumstances, the Order may have broad implications to the state of crypto industry regulation in the US.
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Apr 27, 2023 | 
blockchain.bakermckenzie.com | Amy Greer |Jennifer L. Klass |Gavin Meyers
On April 14, 2023, the United States Securities and Exchange Commission (“SEC”) reopened the comment period and provided supplemental information on proposed amendments to Rule 3b-16 under the Securities Exchange Act of 1934 (“Exchange Act”) which defines certain terms used in the definition of “exchange” in Section 3(a)(1) of the Exchange Act..
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Feb 7, 2023 | 
lexology.com | Jennifer L. Klass |Gavin Meyers |Aiden O'Leary
Following a host of notable bankruptcy filings in the digital asset industry, the New York State Department of Financial Services (DFS) recently issued guidance (the DFS Guidance) to emphasize sound custody and disclosure practices for firms providing digital asset custody services to better protect customers in the event of an insolvency or similar proceeding.
