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On March 22, the staff of the Division of Investment Management (Staff) of the Securities and Exchange Commission (SEC) provided guidance on Rule 206(4)-5 (Rule) under the Investment Advisers Act (Advisers Act)—the so-called "Pay-to-Play" Rule.

Senate Finance Committee issues tax reform paper setting forth challenges, goals, and possible measures affecting tax-exempt organizations and charitable giving.

On March 30, in Jones v. Harris Associates L.P., No. 08-586, __ U.S. __, 2010 WL 1189560 (Mar. 30, 2010)1, the U.S. Supreme Court unanimously affirmed the Second Circuit’s analysis in Gartenberg v. Merrill Lynch Asset Management, Inc., 694 F.2d 923 (2d Cir. 1982), as the standard by which the fees mutual funds pay to their investment advisers should be evaluated under Section 36(b) of the Investment Company Act of 1940 (the ICA).

Standards for banking organizations regulated by the Federal Reserve for Retail Forex are generally comparable to rules adopted by other regulators

The U.S. Department of Labor (DOL) has adopted a final regulation to implement the statutory exemption from the prohibited transaction rules of the Employee Retirement Income Security Act.

In an extensive Judgment of over 200 pages, Mr Justice Henshaw rejected jurisdiction challenges brought by the Defendant international reinsurers on the basis of Russian exclusive jurisdiction clauses (EJCs).

The staff of the Securities and Exchange Commission's Division of Trading and Markets issued a class no-action letter that permits foreign options markets to familiarize certain registered broker-dealers and large financial institutions in the United States.

On February 1, Secretary of Labor Hilda Solis released the Obama administration’s proposed fiscal year 2011 budget for the U.S. Department of Labor (DOL or the Department).

On May 7, the U.S. Department of Labor (DOL) released guidance, in the form of "frequently asked questions" (FAQs), on its new plan participant and service provider disclosure rules under DOL Regulations 404a-5 and 408b-2, respectively.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) became law on July 21, 2010. The Dodd-Frank Act, which arose out of the recent financial crisis, is one of the most significant and sweeping pieces of financial services legislation enacted since the Great Depression.

The following summarizes key elements of the final listing standards and significant changes to the Original Proposals reflected in subsequent amendments submitted by NYSE and NASDAQ.

Section 401(k) and 403(b) plan sponsors may now allow certain participants to convert their accounts held under the plan to Roth accounts.

After almost three years of review and analysis, the Federal Trade Commission (FTC) on October 6 released proposed revisions to its Guides for the Use of Environmental Marketing Claims, generally termed the "Green Guides" (the Guides), which were initially introduced in 1992 and last revised in 1998.

The New York Court of Appeals decision on April 5, in the Midland Insurance Company liquidation (In re Liquidation of Midland Insurance Company) is an important affirmation of policyholder rights. In this decision, New York’s highest court held that a policyholder is entitled to a claim and policy-specific choice of law analysis in the liquidation process, rejecting the Midland liquidator’s effort to make a blanket application of New York law to Midland’s 38,000 policyholders.

"Hedge fund and private equity fund managers will now be required to register with the SEC or state regulators, while venture capital fund advisers obtain an exemption from registration."

In an opinion with significant implications for California-based employers, and potentially for non– California-based employers, the California Supreme Court has ruled that the daily and weekly overtime requirements of the California Labor Code apply to work performed in California for California-based employers by nonresident employees.

Proposed rule amendments permit general solicitation and general advertising in Rule 506 and Rule 144A offerings but raise challenges for verification of accredited investor status of Rule 506 purchasers.