In Focus: 2021 and The Year Ahead for European Private Capital
As we start the new year, we take a look back at some of our highlights from 2021, and offer our view for the year ...
Regulating the Illicit Use of Virtual Assets: What to Look for in 2022
According to a recent report, crimes involving virtual assets (“VAs”) nearly doubled in 2021, with illicit gains reaching a high of $14 billion ...
CMS Proposes Revised Definition of Medicare Part D Drug “Negotiated Prices”: Rule Could Increase Predictability for Pharmacies and Lower Medicare Enrollee Drug Cost-Sharing but Increase Premiums
On January 6, 2022, the Centers for Medicare & Medicaid Services (“CMS”) issued a proposed rule entitled “Medicare Program; Contract Year 2023 ...
Holding It All in Tension: The Risks and Opportunities of Doing Business in Nigeria
Nigeria has the largest economy in Africa, with deep potential for growth in the energy, technology, and financial services sectors. However, entrenched public corruption and ...
Contemplating a Post-COVID Return to “Normal Operations”: FDA’s Transition Plans for Devices Marketed Under Emergency Use Authorizations and Enforcement Policies
In late December 2021, FDA issued two draft guidance documents regarding unapproved medical devices that FDA has allowed to be marketed during the COVID-19 ...
I Shall [Not] Be Released: Wellspring, Director Releases, and the Duty of Loyalty in Restructuring Negotiations
As we here at Ropes & Gray look back on 2021 and ahead into 2022, we call your attention to the lessons of Friedman v ...
SEC Proposes Money Market Funds Reforms
On December 15, 2021, the SEC issued a release (the “Release”) proposing amendments to certain rules that govern money market funds under the ...
Upcoming Deadline for Form SHC – Holdings of Foreign Securities
Recently, the Department of the Treasury released the final instructions for the reporting requirements of the Treasury International Capital Benchmark Form SHC (herein referred to ...
Private Fund Cybersecurity Requirements Changing Significantly in 2022
Private funds that are excluded from the definition of “investment company” under sections 3(c)(1) or 3(c)(7) of the Investment ...
SEC proposes significant changes to rules and reporting requirements regarding trading by insiders, share repurchases and option grants
On December 15, 2021, the Securities and Exchange Commission (the “SEC”) proposed amendments to Rule 10b5-1 that could have a significant impact ...
President Biden Signs Uyghur Forced Labor Prevention Act – Overview and Near-term Compliance Recommendations
On December 23, President Biden signed the Uyghur Forced Labor Prevention Act, following passage by the House and Senate with near-unanimous support. Among other ...
The Application of the UK’s NSIA to Life Sciences Transactions
1. Executive Summary The UK’s National Security and Investments Act (“NSIA”) came into force today, granting the UK Government, through the ...
Corporate Boards Must Meet Diversity Requirements Amid Developing Legal Challenges
As a practical matter, investors and other corporate stakeholders value the ability to compare diversity data across companies’ boards of directors (Boards), and to ...
ISS Publishes Proxy Voting Policies for 2022 Relating to Climate Matters and Racial Equity Audits
On December 7, Institutional Shareholder Services published its 2022 benchmark policy changes for the United States. The changes are generally effective for shareholder meetings that ...
The PE Market Rebound and the Rise of Supply Chain Pressures
Welcome to the December 2021 edition of PErspectives—our periodic publication featuring news, trends and legal developments in the private equity (PE) industry. In ...
New Norwegian Mandatory Human Rights Due Diligence Law Creates Obligations for U.S.-based Multinationals Doing Business in Norway
On June 10, the Norwegian Parliament adopted the Transparency Act. Among other things, this innocuously named legislation will require many U.S.-based multinationals doing ...
A New Year for Drug Pricing and Price Reporting? What’s Happening Now and What’s New for 2022
Introduction The past two years have featured a flurry of legislative action, agency rulemaking and executive orders targeting the pricing of pharmaceutical and biologic products ...
FinCEN’s Proposed Rule Would Broadly Expand Beneficial Ownership Reporting Requirements
On December 8, the Financial Crimes Enforcement Network (“FinCEN”), within the U.S. Department of the Treasury, published proposed regulations, Beneficial Ownership Information ...
Ropes & Gray’s Investment Management Update October – November 2021
The following summarizes a number of recent legal developments of note affecting the mutual fund/investment management industry: SEC Reports Results of Fund Exams of ...
United States Strategy on Countering Corruption
On December 6, 2021, the White House issued the “United States Strategy on Countering Corruption” (the “Strategy Document”) and accompanying fact ...
Federal Agencies Issue New Draft Policy Statement Regarding Standard Essential Patent Licensing and Remedies, DOJ Seeks Public Comments
On December 6, 2021, the U.S. Department of Justice (“DOJ”) announced a request for public comments on a new “Draft Policy ...
HHS Reverses Course on LDTs: COVID-19 LDTs Again Require FDA Premarket Review
On November 15, 2021, the U.S. Department of Health and Human Services (“HHS”) and the Food and Drug Administration (“FDA ...
Certain Percussive Massage Devices Highlights the Unique Role and Importance of the ITC’s Office of Unfair Import Investigations in Section 337 Investigations
On November 22, 2021, the U.S. International Trade Commission (ITC) issued a Notice of Commission Determination in Certain Percussive Massage Devices, Inv. No. 337 ...
Infrastructure Investment and Jobs Act—Summary of Key Tax Components
On Monday, November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (“Infrastructure Act”), Public Law No: 117-58 ...
Hot Topics for Credit Fund Managers 2021
Click here to download the Report. Ropes & Gray’s credit funds team offers forward-thinking advice on all aspects of our credit manager ...