Lowenstein Sandler PC

Time to adhere to the 2010 Hire Act Protocol
Lowenstein Sandler PC USA - September 1 2010
The 2010 Hire Act Protocol (the "Protocol") was published by the International Swap and Derivatives Association, Inc. ("ISDA") on August 23, 2010.

New Jersey enacts the Offshore Wind Economic Development Bill
Lowenstein Sandler PC USA - August 19 2010
August 19, 2010 - Today, Governor Christie signed into law the "Offshore Wind Economic Development Act" (the "Offshore Wind Act").

Connecticut Senate rejects proposal to regulate investment funds
Lowenstein Sandler PC USA - August 17 2010
On May 9, 2010, the Connecticut State Senate rejected a proposal that would have required investment advisers that are either located in Connecticut or that offer or sell securities in Connecticut to disclose material conflicts of interest to their investors or potential investors.

SEC emphasizes aggressive enforcement stance in testimony before Subcommittee on Financial Services and General Government
Lowenstein Sandler PC USA - August 17 2010
On April 28, 2010, SEC Chair Mary Schapiro testified before the Senate Subcommittee on Financial Services and General Government, a division of the Senate Committee on Appropriations.

SEC approves stock-by-stock circuit breaker rules in wake of May 6, 2010 "flash crash"
Lowenstein Sandler PC USA - August 17 2010
On June 10, 2010, the SEC approved new stock-by-stock circuit breaker rules that were recommended as a preventative measure for events such as the "flash crash" of May 6, 2010.

Dodd-Frank and "Volcker Rule" become law
Lowenstein Sandler PC USA - August 17 2010
On July 21, 2010, President Obama signed into law a comprehensive financial reform package known as the Dodd-Frank Wall Street Reform and Consumer Protection Act.

European Union moves forward in its effort to increase regulation of investment funds
Lowenstein Sandler PC European Union, USA - August 17 2010
On May 17, 2010, a European Parliament committee approved new regulations applicable to non-European Union investment funds seeking to raise money from EU investors.

Enforcement of Red Flags Rule postponed until December 31, 2010
Lowenstein Sandler PC USA - August 17 2010
On May 28, 2010, the Federal Trade Commission announced that it would postpone enforcement of its "Red Flags Rule" until December 31, 2010.

Recent SEC examinations are covering reduced review periods
Lowenstein Sandler PC USA - August 17 2010
We note anecdotally that, in certain recent routine SEC examinations, investment advisers have received request lists for audit­/review periods significantly shorter than the traditional one- or two-year periods.

SEC announces examination initiative for unexamined investment advisers
Lowenstein Sandler PC USA - August 17 2010
During a June 7, 2010 meeting of the National Society of Compliance Professionals, Norm Champ, the Associate Regional Director for Examinations at the SEC's New York office, announced that the SEC anticipated sending document requests to approximately 48 registered investment advisers in New York and New Jersey that had not been previously examined by the SEC.