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Jun 3, 2024 | 
mondaq.com | Joshua M. Newville |Robert Pommer |Julia Ansanelli
PR
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The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. Our top tier team of star trial attorneys, acclaimed transactional lawyers and exceptionally talented partners and associates have earned a reputation for the relentless pursuit of perfection and a dauntless pursuit of success.
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May 29, 2024 | 
jdsupra.com | Julia Ansanelli |Joshua M. Newville |Robert Pommer
The SEC’s recent settlement involving a “pay-to-play” rule violation by a private equity firm is a timely reminder for fund managers, especially with the November elections approaching.
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Apr 24, 2024 | 
lexology.com | Margaret Dale |Michael Hackett |Stephen Hibbard |William Komaroff |Timothy W. Mungovan |Dorothy Murray | +14 more
Big fund-raising rounds and high valuations have some wondering whether the AI sector is in a bubble in the nature of the dotcom boom. As of this writing, OpenAI is valued at over $80 billion; Amazon added another $2.75 billion to its investment in Anthropic; and even some very early-stage startups, like France-based Mistral AI, have racked up hundreds of millions in venture-capital funding at valuations over a billion dollars.
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Apr 16, 2024 | 
jdsupra.com | Julia Alonzo |Isaiah D. Anderson |Julia Ansanelli
In its final Private Fund Adviser Rules adopted last year, the SEC dropped one of the more controversial proposed rules—the proposal to prohibit contractual exculpation or indemnification provisions that would shield or indemnify the adviser in matters involving the adviser’s negligence or breach of fiduciary duty. On its face, this was a concession to the fund management industry.
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Apr 5, 2024 | 
mondaq.com | Julia Ansanelli
The New York Court of Appeals recently clarified and reinforced
the attorney-client privilege, explaining that certain internal
training materials reflecting legal analysis of statutory,
regulatory, and decisional law constituted attorney-client
communications "prepared for the purpose of facilitating the
rendition of legal advice or services, in the course of a
professional relationship," and rejected numerous arguments to
the contrary.
In In re Appellate Advocates v. New York State Dept.
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Apr 4, 2024 | 
lexology.com | Margaret Dale |Michael Hackett |Stephen Hibbard |William Komaroff |Timothy W. Mungovan |Dorothy Murray | +15 more
2023’s excitement for generative artificial intelligence (AI) prompted the SEC to respond on multiple fronts – stump speeches, rulemaking, new exam priorities and sweeps and previewing potential enforcement actions. SEC Chair Gary Gensler raised concerns regarding potential conflicts and investor harm resulting from the proliferation of AI and warned that an AI-caused financial crisis is nearly unavoidable absent regulation.
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Apr 1, 2024 | 
lexblog.com | Julia Ansanelli
Julia Ansanelli is an associate in the Litigation Department and a member of the firm’s White Collar Defense & Investigations, Securities Litigation, and Asset Management Litigation Practice Groups. She has worked extensively defending clients facing criminal and regulatory investigations by the Securities and Exchange Commission, the U.S. Department of Justice, and the Federal Trade Commission.
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Apr 1, 2024 | 
lexology.com | Julia Ansanelli
The New York Court of Appeals recently clarified and reinforced the attorney-client privilege, explaining that certain internal training materials reflecting legal analysis of statutory, regulatory, and decisional law constituted attorney-client communications “prepared for the purpose of facilitating the rendition of legal advice or services, in the course of a professional relationship,” and rejected numerous arguments to the contrary. In In re Appellate Advocates v. New York State Dept. of Corr.
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Apr 1, 2024 | 
lexology.com | Margaret Dale |Michael R. Hackett |Stephen Hibbard |William Komaroff |Timothy W. Mungovan |Dorothy Murray | +16 more
ESG continues to be a hot topic for 2024 for investors and regulators alike. The specific concerns investors and regulators have – and what they expect to develop over the coming months – differ, however, across jurisdictions, including because of the different maturity of existing regulation between the EU/UK and the US.
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Nov 23, 2023 | 
mondaq.com | Julia Ansanelli |Joshua M. Newville |Robert Pommer
On November 14, 2023, the SEC's Division of Enforcement
announced its Enforcement Results for Fiscal Year 2023. Below are some key takeaways for fund managers:
The Commission brought 760 total enforcement actions in FY
2023, which represents a 3% increase over FY 2022. The SEC also
filed 501 new standalone enforcement actions, representing an 8%
increase over the prior year.
