Asset Management

  • March 07, 2025

    FINRA Says High Court Appeal Shouldn't Stop Broker's Case

    The Financial Industry Regulatory Authority told the U.S. Supreme Court on Friday that it would like to move forward with disciplinary proceedings against a broker currently challenging the organization's constitutionality before the high court, arguing that the broker doesn't face the immediate harm of expulsion from the industry while the case is pending.

  • March 07, 2025

    SEC Reopens Defunct Broker's Decade-Old NYSE Appeal

    The U.S. Securities and Exchange Commission has issued a lengthy order reopening disciplinary proceedings against a clearing broker penalized by the New York Stock Exchange more than a decade ago, saying certain short trades may not have been prohibited by a recession-era trading freeze.

  • March 07, 2025

    Split DC Circuit Says Distillery, Union Didn't Reach Impasse

    A divided D.C. Circuit panel greenlighted on Friday enforcement of a National Labor Relations Board decision dinging an Oregon distillery for illegally imposing a final offer without reaching an impasse in contract talks with a Teamsters affiliate, with a dissenting judge saying the union used delay tactics.

  • March 07, 2025

    Robinhood To Pay $30M To Settle FINRA Supervisory Claims

    Two Robinhood units on Friday agreed to pay $29.75 million to settle a sprawling series of supervisory and disclosure failures in a case brought by the Financial Industry Regulatory Authority, including that they failed to establish proper protocols to curb money laundering and give customers accurate disclosures about a particular equities strategy.

  • March 07, 2025

    Insignia Opens Books To Bain And CC Capital In Buyout Battle

    Insignia Financial on Friday said that it agreed to open its books to Bain Capital and CC Capital after the two bidders increased their respective takeover offers to $3.34 billion Australian (US$2.11 billion) amid a bidding war.

  • March 07, 2025

    Investment Adviser Charged In 2-Year Client Swindle Scheme

    Federal prosecutors in Chicago have charged a suburban investment adviser with wire fraud for allegedly stealing thousands of dollars from clients by convincing them to invest in nonexistent business opportunities.  

  • March 07, 2025

    FINRA Fines Baird For Reg BI Violations At Subsidiary

    Broker-dealer Robert W. Baird & Co. agreed to pay over $650,000 in combined penalties and restitution to settle Financial Industry Regulatory Authority claims that its subsidiary charged excessive fees and violated Regulation Best Interest by enrolling customers in programs they were already paying for.

  • March 06, 2025

    Hotel Says 'Wealth Of Detail' Proves Liability For $60M Award

    The owner of a luxury Casablanca hotel urged a Delaware federal court on Thursday not to toss its lawsuit looking to hold investors in its former hotel manager liable for a $60 million arbitral award, arguing that its complaint has a "wealth of detail" showing why they should be on the hook.

  • March 06, 2025

    High Court Urged To Toss $22M SEC Disgorgement Order

    An investment advisory firm has asked the U.S. Supreme Court to review a First Circuit ruling that upheld an order for the firm to pay $22 million in disgorgement to the U.S. Securities and Exchange Commission, arguing that courts cannot impose disgorgement when investors have not suffered any financial harm.

  • March 06, 2025

    FTC Challenges PE Firm's Medical Device Coatings Deal

    The Federal Trade Commission moved Thursday to block private equity firm GTCR BC Holdings LLC's planned $627 million acquisition of Surmodics Inc. over concerns about competition for medical device coatings.

  • March 06, 2025

    Fintech Startup Klarna Ready For $1B IPO, Plus More Rumors

    Fintech startup Klarna is readying a $1 billion initial public offering, Apollo Global Management is keen to lead a $35 billion funding package to help Meta build new data centers, and Italian fashion house Prada is near to closing a $1.6 billion deal to acquire luxury clothier Versace from Capri Holdings Ltd.

  • March 06, 2025

    As FDIC Walks Back Biden-Era Policies, Bank Groups Applaud

    The financial services industry has welcomed the Federal Deposit Insurance Corp.'s recent moves withdrawing various rule proposals from the Biden administration, delaying the compliance deadline for another measure and proposing to rescind a policy statement on bank mergers. 

  • March 06, 2025

    Trump Policy Uncertainty Bringing 'Pause' In M&A: Tulane Panel

    Despite high expectations for a dealmaking resurgence under President Donald Trump's second administration, the anticipated boom in major transactions has yet to materialize, mergers and acquisitions attorneys said during a panel discussion at the annual Tulane Corporate Law Institute on Thursday. 

  • March 06, 2025

    NY Court Rejects Leon Black's Malicious Prosecution Suit

    A New York appeals court on Thursday rejected a malicious prosecution suit brought by former Apollo Global Management CEO Leon Black against Wigdor LLP, which represented a woman in a failed lawsuit accusing him of sexual assault.

  • March 06, 2025

    Kirkland-Led Medical Device Firm Prices Upsized $202M IPO

    Shares of Kestra Medical Technologies Ltd. soared in debut trading Thursday after the maker of wearable defibrillators priced an upsized $202 million initial public offering above its range, represented by Kirkland & Ellis LLP and underwriters' counsel Allen Overy Shearman Sterling LLP.

  • March 05, 2025

    Wyo. Firm's 'Classic' Ponzi Scheme Made $92M, Investors Say

    A group of would-be investors has filed suit against a purported investment management company and associated entities and individuals, alleging they were taken in by a "classic Ponzi scheme" that raked in at least $92 million from its victims.

  • March 05, 2025

    Rival Cos. Called 'Empower' Agree To End TM Fight, For Now

    Empower Annuity Insurance Co. of America and Empower Finance Inc. agreed to end, for now, their trademark infringement dispute over the "Empower" mark, over a year after a Colorado federal judge found customer confusion was "unlikely" in the financial services sector and refused to order Empower Finance to change its name.

  • March 05, 2025

    Debt Relief Co. Entities Want CFPB Excluded From Appearing

    Two entities related to financial services firm StratFS have asked a New York federal judge to reject a bid by the Consumer Financial Protection Bureau to continue appearing in its joint suit with a multistate coalition of attorneys general after the CFPB failed to timely file a post-hearing briefing due to changing leadership at the agency.

  • March 05, 2025

    US Looks For Pause In PetroSaudi $380M Seizure Suit

    The United States has asked a California federal court to stay its suit to seize part of a $380 million arbitral award issued to a PetroSaudi unit, saying the civil case is up in the air because the oil producer's sole owner was convicted in August in Swiss criminal court.

  • March 05, 2025

    SEC Defends 'Follow-On' Action From Post-Jarkesy Challenge

    The U.S. Securities and Exchange Commission is defending its ability to pursue industry bars in its administrative court, telling a Washington, D.C., federal judge that a recent U.S. Supreme Court decision limiting the use of in-house courts does not prevent the agency from booting a father and son duo from the investment advisory industry.

  • March 05, 2025

    401(k) Forfeiture Suits Are Prompting Plan Changes

    It remains unclear whether a California federal judge keeping alive a proposed class action that challenges the use of forfeited funds in a Clorox employee 401(k) plan means similar cases will gain traction, but experts say plans are already getting tweaked to stave off forfeiture claims.

  • March 05, 2025

    Judge Says DC Union Station Foreclosure Fight Too Late

    A New York federal judge has cemented the transfer of Washington, D.C.'s Union Station to a South Korean bank, finding the borrower should have raised concerns about the mezzanine lender's foreclosure before an auction was held.

  • March 05, 2025

    US Development Agency Opposes Credito Real Ch. 15

    The U.S. International Development Finance Corp. has challenged Mexico-based payday lender Credito Real's petition for Chapter 15 recognition in Delaware, alleging its bankruptcy plan, which a Mexican court has approved, contains releases impermissible under U.S. bankruptcy law.

  • March 05, 2025

    Biotech Co. Maravai Hit With Investor's Internal Controls Suit

    Health research tools company Maravai LifeSciences Holdings Inc. has been hit with a proposed shareholder class action alleging it failed to report that it had issues with its internal reporting controls ahead of its announcement that an inaccurate report led to the misallocation of $3.9 million.

  • March 05, 2025

    DOJ Fights Bid To Pause Piece Of Amedisys Merger Case

    The U.S. Department of Justice is opposing a bid from Amedisys to pause allegations that it shirked its merger filing requirements until after a trial on UnitedHealth's acquisition of the home health and hospice company.

Expert Analysis

  • Cos. Should Inventory Issues To Prep For New Congress

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    As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

  • OCC Recovery Guidance Can Help Banks Bounce Back Better

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    The Office of the Comptroller of the Currency's recently finalized recovery guidelines add to the constellation of exercises that larger banks must undertake, while also aiding information-gathering and preparedness efforts that can help prevent — or better manage — bank failures, say attorneys at Davis Wright.

  • Navigating DOJ's Patchwork Whistleblower Regime

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    In the past few months, the U.S. Department of Justice and several individual U.S. attorney’s offices have issued different pilot programs aimed at incentivizing individuals to blow the whistle on misconduct, but this piecemeal approach may create confusion and suboptimal outcomes, say attorneys at BakerHostetler.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Look At Similarities Between SOX And SEC's Cyber Rule

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    Just as the Sarbanes-Oxley Act paved the way for greater transparency and accountability in financial reporting, the SEC's cybersecurity rule is doing much the same for cybersecurity, ensuring that companies are resilient in the face of growing cyber threats, says Padraic O'Reilly at CyberSaint.

  • Class Actions At The Circuit Courts: November Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses six federal court decisions that touch on Rule 23 of the Federal Rules of Civil Procedure, and when individual inquiries are needed to prove economic loss.

  • 5 Areas Congress May Investigate After GOP Election Wins

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    With Republicans poised to take control of Congress in addition to the executive branch next year, private companies can expect an unprecedented uptick in congressional investigations focused on five key areas, including cryptocurrency and healthcare, say attorneys at Cahill Gordon.

  • Trump's 2nd Term May Be A Boost To Banking Industry

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    President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.

  • Predicting Shareholder Activism Trends In New Trump Admin

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    While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.

  • What Trump's 2nd Presidency Could Mean For Crypto Sector

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    Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Series

    Playing Ultimate Makes Us Better Lawyers

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    In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron. 

  • Dissecting New Circuit Split Over SEC's Proxy Adviser Rule

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    The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.

  • E-Discovery Quarterly: Recent Rulings On Metadata

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    Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.

  • Parsing SEC's Emerging Trend Of Section 204A Enforcement

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    The U.S. Securities and Exchange Commission recently settled with Sound Point Capital Management for violating Section 204A of the Investment Advisers Act, adding to a slew of charges against investment advisers that allegedly failed to safeguard material nonpublic information, say attorneys at Cozen O'Connor.

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