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  • Article

    New York Provides Employees With Additional Paid Time Off To Vote

    On April 1, 2019, as part of New York State Gov. Andrew M. Cuomo's "broadest, most sweeping [Fiscal Year 2020] state budget," employees were granted additional paid time off to perform a fundamental civic duty — vote in an election.
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    New York State Substantially Increases Salary Thresholds For Exempt Employees

    In the waning hours of 2016, new regulations went into effect that substantially increase the minimum salary an employee must have in order to be classified as exempt from the overtime provisions...
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
  • Article

    Repeal Of Volcker Rule, Fiduciary Rule And Conflict Minerals Rule Passes House Of Representatives

    On Sept. 14, the U.S. House of Representatives passed a bill (H.R. 3354) along a party-line vote that would (i) repeal the Volcker Rule, the fiduciary rule adopted by the Department of Labor ...
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    SEC Announces Whistleblower Awards Worth $4.2M

    The SEC announced two separate whistleblower awards worth approximately $4.2 million combined.
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Shark Week—Taking A Bite Out Of New York's New Pay Equity, Salary History Ban Laws

    Employment Law associate Emily M. Wajert authored a Bloomberg Law article titled "INSIGHT: Shark Week—Taking a Bite Out of New York's New Pay Equity
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Supreme Court Rejects Shorter Statute Of Limitations In ERISA Case

    The Supreme Court in Intel Corporation Investment Policy Committee et al. v. Sulyma, case No. 18–1116, significantly narrowed the circumstances...
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    The EEOC Offers Some EEO-1 Relief

    Fortunately, in response to opposition by the business community, the EEOC has backed off of this burdensome requirement by making important changes.
    United StatesEmployment and HR
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Ares Capital Reaches $3.4B Deal To Buy Elliott Management-Backed American Capital

    Ares Capital is purchasing smaller rival American Capital in a cash-and-stock deal valued at $3.4 billion.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    CFTC Unanimously Approves Proposed Rules Establishing Swap Dealer And Major Swap Participant Capital Requirements

    The U.S. Commodity Futures Trading Commission (CFTC) today unanimously approved proposed rules establishing swap dealer (SDs) and major swap participant (MSPs) minimum capital requirements.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Comptroller Of The Currency Announces That Leveraged Lending Guidance Is Not Expected To Be Changed

    On May 24, 2018, Joseph Otting, the comptroller of the currency, the principal regulator of all national banks, announced in a telephonic press conference ...
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Debt Dialogue: June 2017

    This month's issue of Debt Dialogue addresses the worlds of restructuring and conservatorship, preferred stock investments and municipal securities disclosure.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    FS Investments Partners With KKR To Create $18B Middle Market Alternative Lending Platform

    Alternative investment management firm FS Investments entered into an agreement with KKR to create the largest business development company (BDC) platform, with $18 billion in combined AUM.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Funds Talk: December 2017

    Tax Reform Bills Seek Largest Restructuring of Tax Code in More Than a Generation The Tax Cuts and Jobs Act would overhaul the U.S. tax code, which could have significant effects on the investment management industry.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Funds Talk: March 2020

    Kramer Levin's Funds Talk provides legal commentary on the news and events that matter most to asset managers and funds.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    ILPA Seeking Input On Proposed Private Equity Fee Reporting Template

    Feedback on the proposed template is being accepted until Dec. 11, and final guidance is expected to be published by Jan. 29, 2016, along with broader recommendations on fee reporting and compliance disclosure best practices.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Interval Funds Provide Different Access To Illiquid Asset Classes: TheStreet

    According to TheStreet, while traditional closed-end fund openings are decreasing recently, interval funds are on the rise ...
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    New York State Takes On Carried Interest Reform

    Carried interest has been at the forefront of tax reform proposals in recent years. Carried interest refers to the share of profits that many fund managers receive from managing fund capital.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    Non-Concessionary Impact Funds: What And Why?

    Non-concessionary impact funds are a type of private investment fund that aims to achieve positive social, environmental or other beneficial outcomes while offering market-rate financial returns to investors.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    NY DFS Imposes New Diversity Standards For NY Insurers

    On March 16, New York State Superintendent of Financial Services Linda Lacewell announced the issuance of Insurance Circular Letter 2021-5...
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
  • Article

    NYDFS Cybersecurity Rules For Financial Services Firms Come Into Effect

    Financial services companies in New York state are now subject to enhanced cybersecurity regulations.
    United StatesFinance and Banking
    Herbert Smith Freehills Kramer LLP
    Herbert Smith Freehills Kramer LLP
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