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SEC v. LBRY: Examining the Implications of the SEC’s Latest Victory for Cryptocurrency and Digital Asset Markets

On November 7, 2022, Judge Paul J. Barbadoro of the United States District Court for the District of New Hampshire granted the Securities and Exchange Commission’s (SEC) motion for summary judgment in its suit against LBRY, Inc. (LBRY), a blockchain-based video-sharing platform.

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Converting Traditional Open-End Funds into ETFs

Practices: Asset Management, Investment Management

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The Securities and Exchange Commission (the “SEC”) recently published a notice relating to an application for exemptive relief filed by Precidian ETFs Trust (“Precidian”) that would permit an actively managed exchange-traded fund (“ETF”) to operate without being subject to the current daily portfolio transparency condition included in past active ETF orders. We anticipate that this structure may be attractive to many active managers who may seek to offer their strategies as ETFs, including potentially through the conversion of an existing open-end fund into an ETF.

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