2019 Final ETF Rulemaking – Summary and Analysis
The SEC recently adopted a final ETF rule, largely in the form proposed in June of 2018, but with several important changes in response to ...
California Governor Signs CCPA Amendments and Other Data Privacy-Related Bills into Law
On October 11, 2019, Governor Gavin Newsom signed into law five bills that directly amend the California Consumer Privacy Act (the “CCPA”) ...
Ropes & Gray’s Investment Management Update August-September 2019
The following summarizes recent legal developments of note affecting the mutual fund/investment management industry: SEC Claims Adviser Failed to Disclose Conflicts Arising from Revenue ...
UK audit watchdog sets out new standards on going concerns
The UK Financial Reporting Council (“FRC”) has (on 30 September) issued a revised standard (International Standard on Auditing (UK) 570 – “the ...
California Attorney General Releases Proposed CCPA Regulations
On October 10, 2019, the California Attorney General Xavier Becerra released proposed regulations governing compliance with the California Consumer Privacy Act (the “CCPA ...
Inventive Asia: Latest Developments in U.S. Intellectual Property Law
In the Fall 2019 issue, we discuss the effort now underway in the U.S. Congress to reform subject matter eligibility for patent protection ...
FDA Overhauls its Draft Guidance on Clinical Decision Support (“CDS”) Software
On September 27, 2019, the U.S. Food and Drug Administration (“FDA”) issued a revised draft guidance entitled “Clinical Decision Support Software ...
Costa Rica Enacts Corporate Criminal Liability for Acts of Bribery; Enforcement May Soon Follow
I. The New Law Costa Rica is the latest country in Latin America to establish corporate criminal liability for acts of corruption, following the recent ...
Cookies and Consent – An update on developments in the EU’s Draft e-Privacy Regulation
The EU’s e-Privacy Regulation was supposed to take effect alongside the General Data Protection Regulation in May 2018. The e-Privacy Regulation ...
Credit Funds Report – The Road Ahead: Driving Success in 2020
The private credit industry grew by leaps and bounds over the past decade: AUM jumped to $769 billion as of June 2018, from $275 billion ...
Video: Life Sciences Quarterly (Q3 2019): SEC Enforcement and Class Actions Regarding FDA Communications
In this recap of our September presentation, which includes video and an accompanying transcript, panelists – life sciences regulatory & compliance partner Kellie Combs ...
New FLSA Rule Raises Minimum Salary Thresholds for Exemption from Overtime Pay
Background The U.S. Department of Labor (the “DOL”) has just released, after much anticipation, final updates to the regulations that define which ...
Private Equity Firm Settles with DOJ in False Claims Act Matter Based on Claims Submitted by Its Health Care Portfolio Company
Compounding pharmacy Diabetic Care Rx, LLC d/b/a Patient Care America (“PCA”), two individual executives, and the pharmacy’s private equity ...
DOJ Insight into Role of Data Analytics in Prosecutions and Risk Management
On September 12, 2019, the U.S. Department of Justice announced that federal prosecutors will assess whether compliance officers make adequate use of data analytics ...
Flash Analysis: The Final ETF Rule
On September 26, 2019, the Securities and Exchange Commission (the “Commission”) announced that it had unanimously adopted Rule 6c-11 (the “ETF ...
SEC Expands “Testing-the-Waters” Communications to All Issuers
On September 26, 2019, the SEC adopted Rule 163B under the Securities Act of 1933, which permits all issuers to engage in “test-the ...
New California Privacy Rights and Enforcement Act (CalPREA) Ballot Initiative
Alastair Mactaggart, developer of the ballot initiative that led to the California Consumer Privacy Act (“CCPA”), has announced a “new experiment ...
RETAIL INVESTMENTS IN PRIVATE FUNDS: Regulatory Obstacles and Opportunities
Over the past several years, regulators and market participants increasingly have called for the expansion of investment opportunities for retail investors and retirees. In this ...
CFIUS Publishes Proposed FIRMMA Regulations, Part 2: A New Framework for Real Estate Transactions
On September 17, 2019, the U.S. Department of the Treasury published proposed regulations to implement provisions of the Foreign Investment Risk Review Modernization Act ...
CFIUS Publishes Proposed FIRRMA Regulations, Part 1: A Sea Change for Foreign Investments in U.S. Businesses
On September 17, 2019, the U.S. Department of the Treasury published proposed regulations to implement provisions of the Foreign Investment Risk Review Modernization Act ...
The Ropes Recap: Mergers & Acquisitions Law News
Welcome to the Q1/Q2 2019 edition of our Mergers & Acquisitions newsletter – The Ropes Recap. This includes contributions from over 50 deal professionals ...
CCPA Amendments Pass as the California Legislative Session Draws to a Close
As the clock ticked to the close of California’s 2019 legislative session on Friday the 13th, the California legislature passed several noteworthy amendments ...
Top 5 Modern Tax Challenges For Digital Health Companies
This article by partner Kathleen Gregor and counsel Elizabeth Smith was published by Law360 on September 16, 2019. Digital health companies comprise a ...
The Risks of Not Strictly Complying with a “No Shop” Clause
The recent Delaware Court of Chancery decision to deny a motion to dismiss in Genuine Parts Company v. Essendant Inc.1 provides worthwhile reminders of ...
Second Circuit Affirms Dismissal of Mutual Fund Class Action, Applies SEC Guidance on Industry Concentration
In a decision ratifying the mutual fund industry’s long-standing treatment of portfolio concentration, the U.S. Court of Appeals for the Second ...