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On February 19, 2019, the Securities and Exchange Commission (the "SEC") proposed Rule 163B under the Securities Act of 1933

The merger and acquisition market has been hot for manufacturers in the first half of 2016, and the momentum is expected to continue through year end.

As climate-related risks intensify and infrastructure demands grow, how can resilience infrastructure strengthen economies and communities? This discussion examines the distinction between resilience infrastructure and resilient infrastructure, exploring investment opportunities in emerging markets and the role of blended finance in unlocking institutional capital. The conversation delves into key considerations for investors and the future of resilience-focused infrastructure development.

The SEC recently proposed a new rule (Rule) to curb so-called “pay to play” practices by investment advisers seeking business from public pension and other governmental plans.

On December 11, 2009, the United States House of Representatives approved legislation that would result in a major overhaul of the financial services regulatory regime.

On June 10, 2026, the Commodity Futures Trading Commission (CFTC) released a significant Notice of Proposed Rulemaking (Proposed Rule) that would reshape the regulatory treatment of prediction markets under the Commodity Exchange Act (CEA).

Major U.S. banks continue reducing troubled commercial real estate loan exposure while CMBS lenders face margin pressure from market volatility. Meanwhile, data center developments are evolving into complex infrastructure plays constrained by power availability, and private credit markets show signs of stress that could restrict small business funding.

A recent case from the Delaware Chancery Court, "Stockman v. Heartland Industrial Partners, L.P." (July 14, 2009), decided important issues relating to the indemnification of private equity and venture capital professionals by their affiliated funds in connection with their service as directors and officers of the funds’ portfolio companies.

In December 2004 the Securities and Exchange Commission (SEC) adopted new regulations and related interpretive positions that will require certain investment advisers to register with the SEC for the first time under the Investment Advisers Act of 1940 (the Advisers Act).

For U.S. public companies, private investment in public equity (PIPE) transactions have become a well-accepted alternative to raising capital in the public markets. In a typical PIPE, a public company sells securities in a private placement to institutional investors and agrees to register the securities for resale by the investors in the public markets.

A recent SEC enforcement action against Flowserve Corporation under Regulation FD is instructive about precautions public companies should take in updating or confirming earnings guidance in a non-public forum, particularly in the second half of a fiscal quarter.

At a July 22, 2009 open meeting, the Securities and Exchange Commission unanimously voted to propose a rule intended to stop investment advisers from engaging in pay-to-play activities with respect to state and local government investment management opportunities.

On November 19, 2010, the Securities and Exchange Commission proposed a new rule, based on requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the Financial Reform Act, defining "venture capital funds" for purposes of exempting advisers to these funds from registering under the Investment Advisers Act of 1940.

Effective as of July 21, 2011, the Dodd-Frank Act eliminated Section 203(b)(3) of the Advisers Act (commonly referred to as the "private adviser" exemption), which provided a federal registration exemption for any adviser that: (1) had fewer than 15 clients over the prior 12 months; (2) did not hold itself out to the public as an investment adviser; and (3) did not act as an investment adviser to a registered investment company or a business development company.

In this post I look at the second lien phenomenon and then discuss an interesting new case addressing whether a fairly common intercreditor agreement provision -- giving a senior lender the right to vote a second lien lender's claim in bankruptcy -- will actually be enforced.

With the events of 2008 and 2009, the industry's outlook seemed bleak. Sponsors, broker-dealers, and registered representatives spent most that time wrestling with problems and asset management.

On October 30, 2020, the U.S. Department of Labor ("DOL") published its final rule ("Final Rule") adopting amendments to its longstanding "investment duties" regulation under the...