The Department of Justice has publicly released its first declination letters since the launch of its FCPA Pilot Program two months ago. The
In a 3-2 vote split along party lines, the Securities and Exchange Commission has approved final rules to implement the whistleblower "bounty" provisions mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
In a decision issued late last month, the New York Court of Appeals, in Continental Cas. Co. v. PricewaterhouseCoopers, LLP, 2010 N.Y. Slip Op. 05677, 2010 WL 2569187 (N.Y. Jun. 29, 2010), held that investors who were limited partners in a hedge fund could not sue an outside accounting firm for the reduction in the value of their investment in the fund as a result of fraud because such claims were inherently derivative in nature and belonged to the fund itself and not to any individual investor.
The Commission of the European Union (the "Commission") has published its Proposal for a Directive on Alternative Investment Fund Managers (the "Directive").
On December 30, 2009, the SEC published a release adopting certain amendments to the custody and recordkeeping rules applicable to registered investment advisers under the Advisers Act and related forms (the "Release").
On December 30, 2009, the U.S. Securities and Exchange Commission (the “SEC”) published a release adopting certain amendments to the custody and recordkeeping rules applicable to registered investment advisers under the U.S. Investment Advisers Act of 1940 ( the “Advisers Act”) and related forms (the “Release”).
The SEC at its open meeting yesterday approved in a 4-1 vote amendments to its disclosure requirements related to executive and director compensation, corporate governance and director and director nominee background.
At the first of a series of workshops that are intended to help FCC officials better understand how traffic is managed across Internet service provider (ISP) networks, panelists from the broadband industry and academia agreed generally that effective network management is needed to stem the growing tide of congestion on ISP networks, although divergent viewpoints were expressed with respect to methodology.
The Securities and Exchange Commission at its open meeting yesterday introduced several proposals aimed at enhancing the disclosure requirements for U.S. public companies about compensation and other corporate governance matters, and clarifying certain rules governing proxy solicitations to facilitate shareholder communication and voting.
Beginning last year, for the first time, private funds were faced with implementing a methodology to comply with the requirement to "fair value" their investments pursuant to Financial Accounting Standards Board Statement 157 ("FAS 157"), which became effective for fiscal years beginning after November 15, 2007.