United States

Topic: Asset management

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Latest issue of Global Asset Management Quarterly now available

Issue 11 of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles on US … Continue Reading

US regulators propose changes to Volcker Rule to conform to 2018 legislation

On February 8, 2019, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission (collectively, the “Agencies”) published for public comment a Notice of Proposed Rulemaking (the “NPRM”) to amend the Volcker … Continue Reading

Broker-dealers can continue to rely on investment advisers for customer KYC requirements

In a December 12, 2018, letter to a US trade association with members that include broker-dealers in securities (“broker-dealers”), the US Securities and Exchange Commission (“SEC”) extended its no-action relief to broker-dealers who wish to rely on investment advisers to perform the broker-dealer’s obligations under US federal anti-money laundering (“AML”) customer identification program and beneficial … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The tenth edition of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

Dodd-Frank reform legislation becomes law; no repeal but key provisions are revised

On May 24, 2018, the President signed Public Law 115-174, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” which includes some revisions to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”), but not its wholesale repeal. The Law addresses such diverse areas as revised bank systemic risk standards, easing of … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The ninth issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

U.S. federal court limits reach of credit risk retention regulations

On February 9, 2018, a three-judge panel of the United States Court of Appeals for the District of Columbia Circuit (the “D.C. Circuit”) issued a major decision regarding credit risk retention requirements. Following the 2007-2008 financial crisis, Congress passed the Dodd-Frank Act (“Dodd-Frank”) in an effort to avert a future crisis and as part of … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The eighth issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

SEC provides some relief in connection with MiFID II research payment requirements

Europe’s revised Markets in Financial Instruments Directive (MiFID II), effective  January 3, 2018, makes a number of important regulatory changes concerning the delivery of financial services and products. A number of these changes have an extraterritorial element that can have a significant impact on US firms. A particularly contentious area has been how European Union … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The seventh issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

MiFID II impact on US is focus of the next Norton Rose Fulbright New York briefing

Norton Rose Fulbright New York office’s next financial services briefing is a webinar only seminar set for Thursday, September 7, 2017, from 12:00 to 1:00 PM EDT. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the financial services sector. In … Continue Reading

OCC seeks comments on changes to Volcker Rule

On August 2, 2017, the Office of the Comptroller of the Currency (“OCC”), which charters national banks, issued a press release and notice seeking comments proposing revisions to the  regulations that implement the so-called “Volcker Rule” in order to “better accomplish the purposes” of the Rule. The Volcker Rule, enacted as part of the Dodd-Frank … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The sixth issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The fifth issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

Administration deregulatory agenda is focus of next Norton Rose Fulbright New York briefing

Norton Rose Fulbright New York office’s next financial services briefing is a breakfast seminar set for Thursday, March 2, 2017, at 8:30 AM EST. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the financial services sector. March’s briefing will start … Continue Reading

New Department of Labor fiduciary rule is focus of next Norton Rose Fulbright New York briefing

Norton Rose Fulbright New York office’s next 40-minute financial services briefing is set for Thursday, February 2, 2017, at 12:00 noon EST. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the financial services sector. The briefings will stick strictly to … Continue Reading

SEC Examination Priorities for 2017

The staff of the SEC’s Office of Compliance Inspections and Examinations has announced its 2017 examination priorities. In 2017, the SEC will focus on: *Retail Investors—Protecting retail investors from product and service risks, roboadvisers and wrap fee programs *Senior Investors and Retirement Investments—Focusing on variable insurance products, ETFs and target-date funds *Market-Wide Risks—Focusing on compliance … Continue Reading

Federal Judge finds no attorney-client privilege for independent mutual fund trustees

In a recent, ground-breaking federal district court case, Robert Kenny v. PIMCO (Western District of Washington, Case No. C14-1987-RSM), Chief District Judge Ricardo Martinez issued a court order on November 21, 2016, that required the independent mutual fund trustees of the PIMCO Total Return Fund to divulge all of their confidential deliberations concerning their PIMCO … Continue Reading

FINRA releases 2017 regulatory and exam priorities

On January 4, 2017, the Financial Industry Regulatory Authority (“FINRA”) released its annual regulatory and exam priorities letter for 2017 (the “Letter”). In the Letter, FINRA outlined the areas in which its examiners will pay particular attention with respect to its inspections this year. In a cover letter to the Letter, FINRA President and CEO … Continue Reading

Latest issue of Global Asset Management Quarterly now available

The fourth issue of our Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in … Continue Reading

Norton Rose Fulbright US New York launches new monthly briefings with Brexit

Based on a successful series started by the Norton Rose Fulbright London office, the Norton Rose Fulbright New York office is launching a series of financial services 40-minute briefings November 2. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the … Continue Reading

Upcoming Event: Third Annual Private Client Symposium to be held November 1 in New York

Join us for Norton Rose Fulbright’s Third Annual Private Client Symposium at our New York Office’s new location at 1301 Avenue of the Americas. This year we are focusing on family offices — structures, regulations and transactions. Topics for this one-hour panel discussion include: General anti-money laundering and bank regulatory considerations for family offices Advisers … Continue Reading

Asset management groups react to proposed incentive-based compensation rule

On May 16, 2016, six federal regulatory agencies – the Federal Deposit Insurance Corporation, Federal Housing Finance Agency, Federal Reserve Board, National Credit Union Administration, Office of the Comptroller of the Currency and the Securities and Exchange Commission – announced that they were requesting comment on a proposed rule under Section 956 of the Dodd-Frank … Continue Reading

Global Asset Management Quarterly – Issue 2 now available

The second issue of our Global Asset Management Quarterly is now available. This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally. Articles in this issue include those on US topics from David Barrett, Michael Flamenbaum, Mark Miller, … Continue Reading
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