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- Jun 10, 2019
- Publications
The SEC recently issued a final interpretation (the “Interpretation”) of the federal fiduciary duty that an investment adviser owes to its clients under the Advisers Act.
Paul, Weiss hosted its Annual Hedge Fund GC Forum. The event brings together clients and friends from the industry’s most prominent hedge funds to discuss significant issues confronting the industry.
Corporate partners Marco Masotti and Udi Grofman will participate in panel discussions at the International Bar Association’s 20th Annual International Conference on Private Investment Funds.
- Jan 03, 2019
- Publications
Attached is a link to the Paul, Weiss Private Funds Regulatory Compliance Calendar for 2019.
- Jan 02, 2019
- Publications
On December 20, 2018, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) announced its examination priorities for 2019. Below are certain highlights of the examination priorities…
- Dec 26, 2018
- Publications
As financial markets continue to exhibit extreme volatility, it may be time for managers of hedge funds (and other open-ended and evergreen funds) to assess the challenges (and potential opportunities) that may arise in the near…
- Dec 03, 2018
- Publications
Beginning next month, Democrats will control the House of Representatives for the first time since 2010. Given the pent-up demand for House Democrats to make robust use of their oversight and investigative authorities, the current…
Paul, Weiss advised Declaration Capital, the family office of Carlyle co-founder David Rubenstein, in its recent investment in aXiomatic, an esports and video game startup.
- Sep 15, 2018
- Publications
Ten years after the collapse of Lehman Brothers, market participants and other global companies operate in a markedly changed regulatory enforcement and compliance landscape. This memorandum discusses the legal and business…
Corporate partner Udi Grofman will speak on a panel at ALM’s 12th Annual Hedge Fund General Counsel & Compliance and Officer Summit.
- Apr 17, 2018
- Publications
The SEC recently published an alert listing the most frequent advisory fee and expense compliance issues identified in deficiency letters sent to SEC-registered investment advisers.
Corporate partners Marco Masotti (who co-chairs the conference), Ariel Deckelbaum, Amran Hussein, Udi Grofman and Ramy Wahbeh are taking part in the American Bar Association and the International Bar Association’s 19th Annual…
- Feb 05, 2018
- Publications
On January 29, 2018, the Treasury Department submitted to Congress a report pursuant to Section 241 of the Countering America’s Adversaries Through Sanctions Act (“CAATSA”).
Corporate partner Udi Grofman will speak at the upcoming Maples Investment Funds Forum conference.
- Dec 06, 2017
- Publications
Attached is a link to the Paul, Weiss Private Funds Regulatory Compliance Calendar for 2018. The calendar covers certain (but not all) regulatory obligations of a typical U.S.-based private fund adviser. Please note that any words…
Rockefeller Financial Services, Inc., the parent company of Rockefeller & co., and Gregory J. Fleming have agreed to form Rockefeller Capital Management, an independent financial services firm focused on wealth management, asset…
- Sep 26, 2017
- Publications
In this alert, we describe the new SEC disclosure requirements applicable to investment advisers under amendments to Part 1A of Form ADV that will go into effect on October 1, 2017. The amendments require additional information…
Corporate partner Udi Grofman will speak at the Practising Law Institute’s 2017 Hedge Fund Management program.
- Aug 25, 2017
- Publications
On Wednesday, in United States v. Martoma, the United States Court of Appeals for the Second Circuit overruled its own 2014 decision in United States v. Newman and altered the standard for determining whether the personal benefit…
After a six-year investigation, Paul, Weiss clients Omega Advisors, Inc. and Leon Cooperman agreed to settle claims filed by the Securities and Exchange Commission based on allegations of insider trading and late filings of statements …
Corporate partner Udi Grofman will speak at the upcoming Maples
Investment Funds Forum conference.
- Feb 08, 2017
- Publications
On February 7, the SEC's Office of Compliance Inspections and
Examinations identified five areas of compliance deficiencies or
weaknesses frequently found during the staff's examinations of
registered investment advisers. In the…
Paul, Weiss obtained asylum for our pro bono client, a
17-year-old Salvadorean girl. The girl fled her home and sought
asylum in the U.S. after she had been subjected to threats,
violence and sexual assault by members of the…
- Dec 07, 2016
- Publications
In its first opinion on the scope of insider trading liability
in nearly twenty years, the Supreme Court in Salman v.
United States addressed whether insider trading liability
can arise where a tipper makes a "gift" of…
- Nov 22, 2016
- Publications
Below is a link to the Paul, Weiss Private Funds Regulatory
Compliance Calendar for 2017. The calendar covers certain (but not
all) regulatory obligations of a typical U.S.-based private fund
adviser. Please note that any…
- Sep 15, 2016
- Publications
On August 25, 2016, the SEC adopted amendments to Form ADV, and
amendments to Rule 204-2 (the "Recordkeeping Rule") and certain
other rules under the Investment Advisers Act of 1940, as amended
(the "Advisers Act") which…
Corporate partner Udi Grofman will participate in a panel
discussion at the Practising Law Institute's Hedge Fund Management
seminar.
- Jul 13, 2016
- Publications
On June 28, 2016, the Securities and Exchange Commission (the
"SEC") proposed a
new rule [1] requiring SEC registered investment advisers ("advisers") to adopt and
implement a business continuity and transition plan (a "BCTP") to …
- Jun 17, 2016
- Publications
On June 14, 2016, the U.S. Securities and Exchange Commission
increased the net worth test threshold for "qualified clients"
under Rule 205-3 of the Investment Advisers Act of 1940, as
amended, from $2 million to $2.1 million.
Corporate partner Udi Grofman will speak about U.S. regulatory
trends at the upcoming Maples Investment Funds Forum
conference.
Corporate partners Marco Masotti, Udi Grofman, Michael Hong and Amran Hussein will take part in the American Bar Association and the International Bar Association's 17th Annual International Conference on Private Investment Funds.
- Jan 11, 2016
- Publications
Earlier today, the staff of the SEC's Office of Compliance
Inspections and Examinations ("OCIE") announced its examination
priorities for 2016. Below are certain highlights of the
examination priorities particularly relevant to…
- Dec 21, 2015
- Publications
The "Fixing America's Surface Transportation Act" or "FAST
Act,"signed into law by President Obama on December 4, 2015,
contained an amendment to the privacy policy sections of the
Gramm-Leach-Bliley Act (the "GLBA").
- Nov 23, 2015
- Publications
The Paul, Weiss Private Funds Regulatory Compliance Calendar for
2016 covers certain (but not all) regulatory obligations of a
typical U.S.-based private fund adviser.
- Sep 24, 2015
- Publications
The U.S. Department of the Treasury, Financial Crimes Enforcement Network ("FinCEN") proposed rules on August 25, 2015 that would broaden the application of the Bank Secrecy Act's ("BSA") suspicious activity reporting and anti-money…
- Sep 17, 2015
- Publications
The SEC's Office of Compliance Inspections and Examinations
("OCIE") recently published additional information on the
areas of focus for OCIE's second round of cybersecurity
examinations of registered investment advisers…
- Aug 27, 2015
- Publications
The Financial Crimes Enforcement Network ("FinCEN") proposed a
rule on August 25, 2015 requiring certain investment advisers to
establish anti-money laundering programs and report suspicious
activity to FinCEN. FinCEN also…
In this video, corporate partner Udi Grofman, co-head of Paul,
Weiss's Private Funds Practice Group, explains key points from the
SEC's recent guidance on general solicitation and general
advertising.
- Aug 24, 2015
- Publications
Litigation partner Richard A. Rosen and corporate
partner Udi
Grofman have co-authored an article, titled "Political
Intelligence and U.S. Insider Trading Regulations," in the August
24 issue of Bloomberg BNA's Securities…
- Aug 12, 2015
- Publications
On August 6, 2015, the Securities and Exchange Commission
("SEC") issued (i) new compliance and disclosure interpretations
regarding general solicitation or general advertising, and (ii) a
no-action letter confirming Citizen VC,…
- May 27, 2015
- Publications
On May 20, 2015, the SEC proposed amendments to Form ADV, and
amendments to Rule 204-2 (the "Recordkeeping Rule") and certain
other rules under the Investment Advisers Act of 1940, as amended
(the "Advisers Act").
Corporate partner Udi Grofman will moderate a panel
discussion at the American Conference Institute's second annual
summit on FCPA, AML and OFAC Risks for Private Equity & Hedge
Funds. The panel, titled "Proven Strategies to…
- Mar 03, 2015
- Publications
An investment adviser registered with the SEC is required to
amend its Form ADV from time to time. The following summary
identifies the types of information on Form ADV that require
amending and the timing for filing such…
- Jan 13, 2015
- Publications
On January 13, 2015, the staff of the SEC's Office of Compliance
Inspections and Examinations ("OCIE") announced its examination
priorities for 2015, focusing on the following thematic areas.
- Dec 02, 2014
- Publications
We are pleased to announce the publication of the Paul, Weiss
Private Funds Regulatory Compliance Calendar for 2015.
Paul, Weiss has obtained asylum for an HIV-positive gay man from
China, arguing that cumulative harms by government and society in
areas such as marriage, medical aid, employment and ostracism can
rise to the level of…
In this video interview, corporate partner Udi Grofman,
co-head of Paul, Weiss's Private Funds Practice Group, discusses
the evolution of co-investment strategies and their growing use in
hedge funds and other liquid…
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