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SEC Amends Proxy Rules to Tighten Requirements on Proxy Advisory Firms

On July 22, 2020, the Securities and Exchange Commission (the “SEC”) released its much-anticipated final amendments to its rules with respect to proxy voting advice businesses (the “Amendments”). The SEC first issued their proposed amendments concerning proxy advisory firms in November 2019 (the “Proposals”). Overall, the final Amendments represent a more tempered approach to regulation of…

Client Alerts | July 29, 2020 | Hedge Funds | Investment Management | Investor Activism

OCIE Risk Alert – Observations from Examinations of Private Fund Advisers

On June 23, 2020, the staff of the Office of Compliance Inspections and Examinations (“OCIE”) of the U.S. Securities and Exchange Commission (the “SEC”) issued a risk alert (the “Risk Alert”) that provides an overview of certain compliance issues and deficiencies that OCIE has observed in recent examinations of registered investment advisers that manage private…

Client Alerts | July 22, 2020 | Investment Management

SEC Sets LIBOR Transition Preparedness as an Examination Initiative

The LIBOR transition encompasses far-ranging legal issues that impact the investment management industry, including the potential impact on trading and derivatives portfolios, fund performance targets within fund documentation, financing and brokerage arrangements, and a wide range of operational and other issues that need to be considered by managers. Background LIBOR (London Interbank Offered Rate) is…

Client Alerts | July 21, 2020 | Investment Management

SEC Proposes 13F Disclosure Relief for Smaller Investment Managers

On July 10, 2020, the Securities and Exchange Commission (the “SEC”) announced that it had proposed an amendment to Form 13F and Rule 13f-1 to, among other items, substantially increase the reporting threshold for institutional investment managers  (the “Proposal”).1 If the Proposal is adopted, it would be the first amendment to Form 13F since its…

Client Alerts | July 21, 2020 | Hedge Funds | Investment Management | Investor Activism

Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations  The PPP Just Got Better (June 10, 2020): Chris Davis, Dov Kleiner, Uri Rosenwasser and Benjamin Goldman discuss the key highlights of the…

Client Alerts | July 15, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Distressed Real Estate Assets | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Leasing | Mergers & Acquisitions | Nonprofit and Tax-Exempt Organizations | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

Kleinberg Kaplan Partner Marc Rosen featured in Board Agenda

Kleinberg Kaplan partner Marc Rosen was recently published in Board Agenda. His article #MeToo Continues: Why Sexual Harassment Is a Growing Litigation Risk discusses how corporations and their officers and directors can get embroiled in compliance-related, securities fraud cases by motivated investors trying to capitalize on the #MeToo movement. As Rosen states, these litigants contend…

Firm News | July 15, 2020 | Risk Management | Commercial and Corporate Litigation | Employment Litigation

A Tax Planning “Hat Trick” for Funds Acquiring Portfolio Company Debt

As a result of the COVID-19 pandemic, many companies are having difficulty meeting payment obligations on their outstanding debt. However, thanks to a combination of the U.S.-Irish income tax treaty and Section 108 of the Internal Revenue Code of 1986, as amended (the “Code”), private equity funds (and other funds) may be able to find…

Client Alerts | July 9, 2020 | Business Advice and Planning | Private Equity Funds

Kleinberg Kaplan Partner Chris Davis Recognized by Chambers USA as Leading Shareholder Activist Lawyer

Kleinberg Kaplan, a pure-play activist law firm, is pleased to announce that Christopher P. Davis, chair of its Investor Activism and Mergers and Acquisitions Practices, was recently ranked as a leading activist lawyer in Chambers USA. Described as a “tireless advocate” for firm clients, Chambers further noted that Davis is “extremely knowledgeable and experienced” and…

FEATURED PUBLICATION | July 9, 2020 | Investor Activism